North America E-Bike Market Research Report, 2027

Electric transportation is not limited only to four wheels as e-bikes are experiencing incredible growth in sales, not only in the European countries but also in the North America, owing to technological advancements in battery packs and drive motors and e-bike sharing. E-cargo bikes are gaining traction in major cities in the region, as leading logistics companies like DHL Express, Fed-Ex, and UPS are employing e-bikes for their last-mile delivery. These electrically-assisted cycles, which can carry around goods ranging in size from 400 pounds to 800 pounds, are also in use in several pilot projects in US cities. In the global market, North America is one of the lowest contributing regions, which in 2021 accounted for less than 5% of the market share in value & volume terms. The report titled 'North America Electric Bicycle (E-Bikes) Market Research Report, 2027’ published by Actual Market Research identifies and discusses recent developments in electric mobility across the North American region. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid effect on the electric bicycle industry. The market was valued around USD 1 Billion in 2021 which is anticipated to reach more than 6% CAGR for 2022-2027. The major countries are continuing to urbanize and the funds allocated to transportation are now becoming scarce. Many factors like adequate infrastructure and supportive policies are likely to be the major factor for the preference of bicycling as viable transportation. The region is slowly shifting towards the wider adoption of e-bikes. People have now started choosing electric bicycles for short distances, and the market is led by pedal-assisted ones. With the e-cycles being more advantageous in overcoming the terrains, in comparison to the regular ones, the throttle e-bikes are to be growing with a prominent CAGR through the forecast period. Even though the use of high in city/ urban travel, the segment of trekking follows close by, expected to cross 50% by volume at the end of the studied period. The mainstream use of electric cycles in the region is slowed by the low retail availability & inadequate infrastructure investments. One of the major market drivers in the region is the increasing demand among the retired age group, who are now more inclined towards recreational activities. This has been a boost to the Class 1 Pedal-assisted electric bicycles, which is leading the market. In Canada, these electric bikes are also gaining popularity in major cities like Toronto & British Columbia. With the increasing adoption of electric bikes, the governments are now introducing new regulations and developing the infrastructure to support the same. The US leads the market with a clear market dominance of more than 80% share in value & volume. However, the market’s potential is hampered as not many counties have a specific regulation currently, which brings in more confusion with the advancement in technologies. While some US municipalities prohibit e-bikes on multi-use paths and city streets, only 20 out of 50 states in the country had e-bike specific regulations. Governments are investing in bike sharing programs and bike lanes and more pedestrian-friendly streets as part of major initiatives to increase transportation options, enhance road safety, and improve the environment. All these developments are driving the market’s growth. The major players in the market are adopting various growth strategies, such as partnerships and collaborations, to capture most of the market share. Moreover, product launches are expected to make the regional market more competitive in the pedal-assisted segment. To increase sales of e-bikes in the United States, retailers are focusing on older but active users. As of 2016, people in the age group of 52 to 70 years accounted for nearly 25% of Americans. Though many of them enjoy cycling, they cannot ride a bicycle due to health-related issues, such as exercise-induced asthma or knee & joint pain. Therefore, to cater to this potential customer base and increase product sales, retailers are citing the benefits of electric bikes. This includes ease of pedaling, limited efforts required to propel the bike forward, less heart stress during a ride, and a reduced likelihood of sudden spikes while navigating elevated or uneven terrains. Furthermore, the ever-growing focus on recreational activities is among the major factors augmenting the growth of the considered market in the US. Moreover, e-bikes are gaining momentum among the geriatric population and recreational riders. Additionally, numerous companies are focusing on the senior population, citing health-related benefits to the target audience. This step is anticipated to influence the demand among older people to use e-bikes without facing multiple issues, including joint pain. Therefore, the growing demand among baby boomers is likely to widen the scope and growth of the e-bike market in the United States. Recent Developments: -In February 2021, Revel announced its plans of expanding its product line-up to include monthly e-bike subscriptions for residents of New York City. The pedal-assist bikes, manufactured by WING Bikes, come equipped with a 36-volt battery that can travel 45 miles on a single charge and reach speeds of up to 20 miles per hour. -In March 2021, Kent announced its first electric bicycle, designed especially for children. The Kent Torpedo is a pedal-assist e-bike. The motor has a 24V 5.2Ah battery with a capacity of 125 Wh. In low power mode, the battery is sufficient for a range of 15 miles (25 km). -In January 2021, Ford, Trek, and Bosch partnered to develop Bicycle-To-Vehicle (B2V) Communication safety software that may allow forms of micro-mobility to communicate with nearby vehicles so that drivers in big cities and congested areas are more aware of riders out of their line of sight. It could also trigger visible alerts on bicycles when cars get too close. -In April 2021, Yamaha Motor Corporation USA launched its first complete full-suspension eMTB, the 2021 YDX Moro Pro, equipped with the Yamaha PWX-2 motor, a 500 Wh battery, 160 mm travel, and 27.5? wheels. -In April 2021, VanMoof announced its most anticipated innovation to date – a removable power bank that gives riders up to 62 miles extra range on their VanMoof S3 or X3. The accessory makes VanMoof’s e-bikes even more accessible, as even longer commute distances are now possible on a single charge. -In March 2021, Cannondale launched a range of e-bikes oriented toward commuters or generalist riders. The Adventure Neo line features four different models, all of which feature an alloy frame, a step-through design, and a Bosch drive system with a battery ranging from 400 to 625W. -In January 2021, Merida announced three new electric bikes, namely, the eScultura drop-bar road, eSpeeder flat-bar hybrid, and eSilex gravel bikes. These bikes are equipped with a 250Wh battery, powered by the Mahle e-bike motion X35+ rear hub electric motor and offering 250 watts of output and 40Nm of torque. -In October 2020, Harley-Davidson unveiled a brand to focus exclusively on the e-bicycle market. Named Serial 1 Cycle Co., the brand’s products will be pedal-assist electric bicycles. The e-bicycles are expected to be available via direct-to-consumer sales online and at select Harley-Davidson dealers. -In December 2020, Mayor Bill de Blasio announced that the New York City Department of Transportation (DOT) had constructed a record 28.6 lane miles of new protected bike lanes across all five boroughs. -In October 2020, Gazelle announced new electric bicycles with the first belt drives in the United States, adding two new models to its Ultimate line for the North American market, namely, the Gazelle Ultimate C8 and Ultimate C380. -In February 2020, Specialized Bicycle Components, Inc. launched a new model Turbo Levo SL which will be of mountain usage category and offer light weight built and featured with 29 inch wheel and weighs 9 pounds less than other turbo e-bikes. The new product is expected to increase the product portfolio of the company. -In February 2019, Amego Electric Vehicles Inc. announced its partnership with Gazelle, a European cycle brand. Through this partnership Amego offered the e-bikes of Gazelle in North America. The new partnership has helped both companies in increasing their product portfolio. Covid-19 Impacts: COVID-19 impacted electric bike (e-bike) market positively impacted as commuters were mostly avoiding public transportation. E-bikes are being deployed as a convenient, affordable and safe alternative to public transportation. Bikes were adopted as mode of day-to-day transportation due to the government restrictions on public transport, and social-distancing guidelines. The sales were slow in the initial pandemic stage, but the growth is expected to grow in the post-pandemic due to the easing on the restrictions. Major companies present in the market Accell Group, Brompton Bicycle Limited, Giant Manufacturing Co. Limited, Merida Industry Co. Limited, Pedego Electric Bikes, PON Bikes, Rad Power Bikes LLC, Riese & Müller GmbH, Specialized Bicycle Components, Inc., The Electric Bike Company, Trek Bicycle, Yadea Group Holdings Ltd Considered in this report • Geography: North America • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America Electric Bicycle (E-Bikes) market with its value and forecast along with its segments • Country-wise toy market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • USA • Canada • Mexico Segment covered in the report By Propulsion Type •Pedal Assist • Throttle By Class Type •Class 1: Pedal Assist •Class 2: Throttle On Demand •Class 3: Speed Pedelec By Battery Type •Lithium-Ion Battery •Lead-Acid Battery •Others By Application •City/Urban •Trekking (E-mountain Bikes/e-MTB) •Cargo •Others (Speed e-bikes, Foldable, Fat Bicycle) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to electric bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.