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E-City/Urban Bike Market Trends

Report ID: GMI8500
Published Date: Mar 2024
Report Format: PDF

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E-City/Urban Bike Market Trends

The proliferation of shared e-bike schemes and bike-sharing programs in many cities worldwide is helping cater to the growing demand for convenient and affordable transportation solutions. For instance, in June 2022, payment-technology leader Mastercard joined forces with Freebike to introduce the world’s first-ever tap as well as ride electric bike sharing system in Helsinki. These services offer flexible access to e-bikes for short trips while providing first-mile and last-mile connectivity to complement the existing public transportation systems. The expansion of shared mobility services is also driving the preference for e-city/urban bikes among tourists, commuters, and residents.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of E-city/urban bike reached USD 20.8 billion in 2023 and is set to witness 5% CAGR from 2024-2032, owing to the growing prominence of environmental sustainability and the subsequent demand for eco-friendly transportation options worldwide.

The Li-ion segment was over USD 14 billion in 2023, due to its advantages like high energy density, longevity, and relatively low weight.

Asia Pacific market held over 60% share in 2023, attributed to surging urbanization, mainly in China, Japan, and South Korea along with the increasing environmental concerns in the region.

Accell Group, Brompton Bicycle Ltd, Giant Bicycles, Merdia Bikes, Polygon Bikes, Rad Power Bikes, LLC, Scott Sports Sa, Specialized Bicycle Components, Tern, and Trek Bicycles, are some of the major e-city/urban bike companies worldwide.