At 12.0% CAGR, the Middle East & Africa E-Bike Market is Projected to be Worth US$ 1,428.94 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the Middle East & Africa e-bike market was valued at US$ 578.45 million in 2022 and is expected to reach US$ 1,428.94 million by 2030, registering a CAGR of 12.0% from 2022 to 2030. Government initiatives for promoting eco-friendly modes of transportation and growth of outdoor sports and adventurous activities are among the critical factors attributed to the Middle East & Africa e-bike market expansion.
In the Middle East, governments are actively promoting the adoption of e-bikes through various initiatives aimed at fostering sustainable transportation solutions. For instance, the UAE has introduced incentives to promote the use of electric vehicles, including e-bikes, to combat carbon emissions and reduce traffic congestion. Dubai's Road and Transport Authority (RTA) offers subsidies of up to 50% on the purchase price of electric bicycles, making them more accessible to residents.
Moreover, cities such as Abu Dhabi have initiated projects to develop dedicated cycling lanes and infrastructure, facilitating safer commuting for e-bike riders. The country aims to expand its cycling tracks to over 850 kilometers by 2030. The commitment to expanding cycling networks aligns with Abu Dhabi's vision to develop a sustainable and healthier urban environment.
Furthermore, the UAE's government has introduced regulations and policies favoring electric mobility, including e-bikes, ensuring their integration into the transportation ecosystem. These government-driven initiatives underscore the region's dedication to promoting eco-friendly modes of transportation like e-bikes across the region.
On the contrary, high cost of e-bikes and requirement of huge capital investments in their manufacturing hampers the growth Middle East & Africa e-bike market.
Based on battery type, the Middle East & Africa e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held 66.6% share of the Middle East & Africa e-bike market in 2022, amassing US$ 385.37 million. It is projected to garner US$ 998.83 million by 2030 to expand at 12.6% CAGR during 2022-2030.
In terms of motor type, the Middle East & Africa e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held 73.2% share of the Middle East & Africa e-bike market in 2022, amassing US$ 423.31 million. It is projected to garner US$ 1,061.70 million by 2030 to expand at 12.2% CAGR during 2022-2030.
Based on class, the Middle East & Africa e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held 45.4% share of the Middle East & Africa e-bike market in 2022, amassing US$ 262.62 million. It is projected to garner US$ 660.17 million by 2030 to expand at 12.2% CAGR during 2022-2030.
By mode, the Middle East & Africa e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held 68.9% share of Middle East & Africa e-bike market in 2022, amassing US$ 398.39 million. It is projected to garner US$ 1,005.40 million by 2030 to expand at 12.3% CAGR during 2022-2030.
Based on country, the Middle East & Africa e-bike market is categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held 29.1% share of Middle East & Africa e-bike market in 2022, amassing US$ 168.27 million. It is projected to garner US$ 403.68 million by 2030 to expand at 11.6% CAGR during 2022-2030.
Key players operating in the Middle East & Africa e-bike market is Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd, among others.
In 2023, Yamaha Bicycles launched a new e-commerce platform for selling its e-bikes online in partnership with its area network of dealers. E-bike models can be purchased online from their nearest Yamaha Bicycle dealers.
In 2023, Bosch eBike Systems launched Performance Line SX lightweight drive unit for the e-bikes to expand the smart system portfolio.
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