Electric Bike Kit Market Size - By Bike (Cargo, Trekking, City/Urban), Component (Motor [Hub Motor, Mid-drive Motor], Battery, [SLA, Li-ion, NiMH], Throttle or Pedal-Assist System, Display and Control Unit), By Sales Channel, By Class & Forecast 2024 - 2032

Electric Bike Kit Market Size

Electric Bike Kit Market size was valued at USD 1.2 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032, due to increase in urbanization and traffic congestion prompting the need for efficient transportation. Rising fuel costs are driving consumers towards cost-effective options, while the focus on health and fitness is encouraging cycling. Electric bike kits offer a strong solution by providing eco-friendly commuting options for addressing these concerns, further driving the market growth as more people are seeking convenient, healthy, and economical ways to navigate urban environments.
 

For instance, in September 2022, Swytch Technology unveiled a new e-bike conversion kit with a compact power pack battery, equivalent to a large smartphone. Providing 250W of power and ample range for daily commuting, the 700g (1.5lb) battery recharges in about an hour, making it ideal for lightweight, efficient electric bike conversions.
 

The electric bike kit industry will further experience significant growth due to the integration of smart features and advancements in battery technologies. Smart features like GPS tracking, smartphone connectivity, and integrated displays lead to enhanced user experience and convenience, subsequently appealing to tech-savvy consumers. Meanwhile, improvements in battery technology, such as longer range and faster charging, are helping address key concerns and boost the confidence in electric bikes and kits.
 

For instance, in February 2022, Hero Splendor unveiled GoGoA1, an RTO-approved electric conversion kit comprising a hub motor, drum brake, regenerative controller, universal switch, throttle, battery SOC, swing arm, wiring harness, controller box, DC to DC converter, and anti-theft device.
 

While the market shows promising growth, it may face challenges, such as the initial cost of purchase and evolving regulations. On the other side, it reflects adaption to changing dynamics. The investment in quality kits ensures long-term savings, appealing to discerning buyers seeking sustainability. Regulatory shifts are promoting safety and standardization, further fostering consumer trust. Overcoming these hurdles will promise a thriving market scenario where eco-friendly commuting solutions become increasingly accessible.
 

Electric Bike Kit Market Trends

The emerging preference for lightweight, compact designs and the rising demand for conversion kits are other factors driving the industry expansion. In response to these trends, manufacturers are creating kits that are easier to install and handle, appealing to a wider range of consumers. The need for practical and versatile electric biking solutions has also intensified. The convenience of converting traditional bikes into electric ones without sacrificing portability will also boost the market growth.
 

Electric Bike Kit Market Analysis

Based on bike, the market is divided into cargo, trekking and city/urban. The city/urban segment is set to exceed USD 1.6 billion by 2032, owing to the rising need for practicality and convenience. As more people embrace eco-friendly transportation solutions, city dwellers are turning to electric bike kits to effortlessly navigate urban landscapes. With easy installation and the ability to convert traditional bikes into electric ones, these kits offer an accessible and cost-effective way to commute sustainably, making them the preferred choice in the bustling city environment.
 

Based on component, the electric bike kit market is divided into motor, battery, throttle or pedal-assist system, display and control unit and others. The motor simulators segment accounted for 27% of the market share in 2023, due to the pivotal role played by motors in enhancing bike performance. Riders seek powerful motors that provide speed and efficiency, prompting a surge in demand for motor-centric kits. In addition to leisurely rides and adventurous off-road journeys, motors offer a diverse range to suit various biking styles. The surging influence of motor quality on the overall electric biking experience will also boost the segment growth.
 

Asia Pacific electric bike kit market held over 60% of the revenue share in 2023, led by a combination of factors, including the growing population, rapid urbanization, and environmental awareness, from bustling metropolises to serene landscapes, the region is embracing electric bike kits as a practical and eco-friendly mobility solution. The surging government support and a cultural shift towards sustainability will further propel the regional product demand.
 

Electric Bike Kit Market Share

Bafang Electric (Suzhou) Co., Ltd. and Cyzle Bike Store hold a significant market share of over 33% in the electric bike kit industry. These industry players are strategically broadening their footprint within the electric bike kit domain through innovative product offerings. By prioritizing R&D activities, they are crafting state-of-the-art kits tailored to various consumer preferences.  Moreover, these firms are employing impactful marketing tactics to broaden their reach to a diverse audience. The utilization of social media campaigns is also emphasizing the advantages of electric bike conversion in addition to collaborations with influential biking personalities.
 

Electric Bike Kit Market Companies

Major companies operating in the electric bike kit industry are:

• Bafang Electric (Suzhou) Co., Ltd.
• BionX International
• Cyzle Bike Store
• Dillenger E-Bikes AU
• eBikeling.
• EUNORAU E-BIKE
• EVELO Electric Bicycles
• Grin Technologies
• Swytch Technology Ltd
• Tongsheng
   

Electric Bike Kit Industry News

• In September 2023, Swytch introduced Go, a novel electric bike conversion kit developed in reaction to the cost-of-living challenges.
   
• In June 2022, Zipforce introduced its primary offering, the Zipforce ONE, a conversion kit designed to turn conventional bicycles into electric models.
   

The electric bike kit market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Bike

• Cargo
  • Class 1
  • Class 2
  • Class 3
  • Custom/High speed
• Trekking
  • Class 1
  • Class 2
  • Class 3
  • Custom/High speed
• City/urban
  • Class 1
  • Class 2
  • Class 3
  • Custom/High speed

Market, By Component

• Motor
  • Hub motor
  • Mid-drive motor
• Battery
  • SLA
  • Li-ion
  • NiMH
• Throttle or Pedal-Assist System
• Display and Control Unit
• Others

Market, By Sales Channel

• OEMs
• Aftermarket

Market, By Class

• Class 1
• Class 2
• Class 3
• Custom/High speed

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • UAE
  • South Africa
  • Saudi Arabia
  • Rest of MEA