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E-City/Urban Bike Market Size
- Report ID: GMI8500
- Published Date: Mar 2024
- Report Format: PDF
E-City/Urban Bike Market Size
E-City/Urban Bike Market size was valued at USD 20.8 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032, led by the growing prominence of environmental sustainability and the subsequent demand for eco-friendly transportation options.
Lately, e-city/urban bikes are largely integrated with GPS tracking, Bluetooth connectivity, smartphone integration, and app-controlled functionalities to enhance user experience, provide riders with real-time navigation, fitness tracking, theft prevention, and remote diagnostics. To illustrate, in September 2023, Netherlands-based bicycle manufacturer Gazelle Eclipse unveiled its new comfort-trekking electric bike deployed with GPS theft-tracker. Rising incursion with smart infrastructure and urban mobility platforms is further augmenting the utility and appeal of e-bikes in urban environments. Moreover, the convenience, affordability, and sustainability of e-bikes as an alternative to cars or public transportation is another major factor driving the market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| E-City/Urban Bike Market Size in 2023: | USD 20.8 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 32.1 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 600 |
| Segments covered: | Battery, Motor, Sales Channel, Propulsion Type |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The rising advances in battery technologies to improve the performance and usability of e-bikes will play a crucial role in the market expansion. Improvements in battery chemistry, energy density, and charging infrastructure are extending the range, limiting the weight, and shortening the charging times of e-bike batteries. The growing development of swappable battery systems and fast-charging solutions is further enhancing the practicality and convenience of e-bikes for urban commuters.
However, the escalating costs of electric components, such as motors and batteries is contributing to the overall price of e-bikes, making them less affordable for some consumers, especially in regions with lower disposable income levels. The lack of adequate infrastructure, including dedicated bike lanes, charging stations, and secure parking facilities may also hinder the market growth to some extent.
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E-City/Urban Bike Market Scope
