EBike market predicted to rocket 50% in 5 years

A report from Research and Markets predicts that the global eBike market will reach $US 77.2 billion by 2028, estimating that the current market for electric bikes in 2023 is somewhere in the region of US$51.5 billion (with a CAGR of 8.4% leading up to 2028).

The Asia Oceania region will lead the eBike market, predicts the report, noting the work of Governments around the world looking to reduce congestion and emissions. It notes Italy has offered a subsidy of US$527 in municipalities with over 50,000 inhabitants to purchase new bicycles and eBikes.

Research and Markets predicts the 650W-plus eBike battery capacity segment (linked most closely with eMTBs and eCargo bikes) to be the fastest growing segment of the eBike sector, with a CAGR of 15%.

Europe is predicted to be the second largest market in 2023, with the cycling and eBike market worth US$21 in 2021, a rise of 7.5% from 2020. Of that, Germany dominated.