North America E-Bike Market

The North America e-bike market was valued at US$ 1,632.29 million in 2022 and is expected to reach US$ 7,050.29 million by 2030; it is estimated to grow at a CAGR of 20.1% from 2022 to 2030.

Growth of Outdoor Sports and Adventurous Activities Fuels the North America E-Bike Market

The outdoor sports industry has shown significant growth post-COVID-19 pandemic. Consumers are becoming health conscious and focus on healthcare activities to remain fit and healthy. They spend on outdoor activities such as trekking, cycling, etc. Cycling helps strengthen the immune system, lose weight, and build muscles. According to the US Bureau of Economy-Analysis (BEA) in 2021, the spending on outdoor recreational activities is valued at around US$ 454.0 billion which represents 1.9% of the US GDP. Outdoor recreation activity participants reached around 168 million in 2022, 55.0% of the US population. Out of these participants, 54 million were engaged in biking. Also, as per the US Bureau of Economy 2020 report, Americans have spent around US$ 6.9 billion on bicycles.

North America E-Bike Market Overview

Growing urbanization, rising investments in cycling track development, and increasing consumer awareness regarding environmentally friendly transportation drive the e-bike market growth. Governments of several countries announce ample investments and subsidies for the adoption of e-bikes.

The e-bikes market in North America is expected to report the highest CAGR during the forecast period due to rising consumer awareness regarding health-conscious activities post-COVID-19 pandemic. Post COVID-19 pandemic, the consumers were willing to spend on the outdoor activities such as bike riding, travelling and swimming for living healthy and fit life. Post pandemic, as per the Wall Street Journal, US e-bike sales reached around 1.1 million units in 2021, increased by 25.0% compared to last year. Post-COVID-19 pandemic, the e-bike penetration increased by around 81% from 0.45 million to 1.1 million units owing to growing consumer spending on outdoor and recreational activities. Trekking and mountain biking are also gaining popularity in the US and Canada. Also, the government supports opting for environment-friendly transportation. The US Democrats passed the bill with around US$ 1.75 trillion in funding as the Build Back Better Act for society safety. The bill passed by the House of Representatives offers a 30% fully refundable tax credit on the purchases of certain e-bikes. These are the crucial steps taken by the US government to fight climate change and offer a low-carbon, environment-friendly transportation solution.

Rising the Biking Riding Population in the U.S. with Increase in the Consumers Spending on the Recreational Activities Drives the Market Growth.

North America E-Bike Market Revenue and Forecast to 2030 (US$ Million)

North America E-Bike Market Segmentation

The North America e-bike market is segmented based on battery type, motor type, class, mode, and country.

Based on battery type, the North America e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held the largest North America e-bike market share in 2022.

In terms of motor type, the North America e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held a larger North America e-bike market share in 2022.

Based on class, the North America e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held the largest North America e-bike market share in 2022.

By mode, the North America e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held a larger North America e-bike market share in 2022.

Based on country, the North America e-bike market is categorized into the US, Canada, and Mexico. The US dominated the North America e-bike market in 2022.

Haibike, Aventon Bikes, Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd are some of the leading companies operating in the North America e-bike market.

North America E-Bike Market Strategic Insights

North America E-Bike Market Segmentation Analysis

North America E-Bike Market Report Highlights

North America E-Bike Report Scope

North America E-Bike Market Country and Regional Insights