According to the new research report on "E-Bike Market Forecast to 2030 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 1,08,604.6 million by 2030 and register a CAGR of 13.4% from 2022 to 2030.

Government Support to Lower the Carbon Emission Boost the Demand for E-Bikes Market Growth

Several countries' governments are launching incentive programs to promote e-bike and electric vehicle sales to reduce carbon footprints. For instance, the U.S. government launched the Electric Bike Incentive Kickstart for the Environment (E-BIKE) Act Scheme, which offers a subsidy of up to 30% of the cost of an electric bike. The incentive program involves incentives up to USD 300 on an e-bike, whereas up to US 500 on a cargo bike for lower-income residents. In May 2019, the Canadian government incentivized people to purchase electric bikes by offering a cash discount from USD 250 to USD 750.

Further, European countries are well-equipped with several incentive government schemes to promote the use of e-bike users. The European Cyclists’ Federation (ECF) offers various subsidies based on the type of E-bike purchased by target groups, including businesses, individuals, and public entities. For instance, in France, as of August 2022, residents with an annual income of USD 14,592.40 or less receive a USD 325 discount on purchasing E-bikes. Also, residents with an annual income of USD 6,800 or less and those with proof of disability may receive a discount up to USD 435.

Similarly, the Chinese and Indian governments are promoting subsidy schemes to promote electric vehicle sales to reduce carbon footprints. For instance, the Ministry of Finance and Ministry of Commerce in China offer the maximum subsidy for e-bikes in rural areas up to USD 36 per vehicle, with 80% of subsidies from the central government’s budget and 20% from the provincial budget. In India, as per the government subsidy program on E-bikes, the government offers subsidies of up to 25% of the overall e-bike cost with a maximum purchase incentive of up to USD 65. The government also planned a fixed additional incentive of USD 25 for the first 10,000 e-bikes, apart from other subsidies and bonuses.

The E-Bike market size is segmented into battery type, motor type, class, and mode. The E-Bike market is segmented based on battery type into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. In terms of motor type, the e-bike market is bifurcated into hub motor and mid-motor. Based on class, the E-Bike market is segmented into class I, class II, and class III. Based on the mode, the global e-bike market is divided into pedal-assisted and throttle-assisted modes.

Key Findings of Study:

Asia Pacific is expected to hold the largest market share in 2022, followed by Europe in the global E-Bike market size. The European e-bike market is growing at a decent rate year-over-year. Europe is the second largest region for the E-bike market owing to its infrastructure development in the construction of cycling tracks, growing consumer awareness towards eco-friendly bikes and rising consumer spending on recreational activities. Germany has the largest share in Europe due to growing consumer spending on E-bike activities. Every day, millions of people in Europe participate in cycling, with the number of bicycles sold in the European Union in 2021 reaching around 22 million, whereas E-bicycle sales reached 5 million in the same year. Also, the German federal government planned to invest around USD 1,063.8 million in cycling as part of the national climate protection program.

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