North America electric bicycle market size and share analysis

North America electric bicycle market size and share analysis

As cleaner and more environmentally friendly short-distance transportation, e-bikes are changing the travel ecology in North America.

North America includes Canada, Mexico, the United States, and the rest of North America, with the largest e-bike market being the United States, which accounts for 98.63% of the overall North American market share.

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    Market analysis

    According to Mordor Intelligence Report, the overall North American e-bike market size is estimated to be USD 2.89 billion in 2023, growing at a CAGR of 26.85% from 2017-2022; the market size is expected to reach USD 7.54 billion by 2029, at a CAGR of 17.33%.

    North America E-bike Market, by propulsion type, Value, USD Million, 2017-2029

    By propulsion type (pedal assist, high speed pedal, and throttle assist), North America is the most popular region for pedal assist bikes, which accounted for 79.60% of the market share in this segment in 2022.

    This is mainly due to the fact that in most of the countries and regions in North America, bicycles riding at speeds less than 45km/h are not subject to driver’s license, registration, certificate of title, and license plate, which to a certain extent drives the popularity of pedal-assisted bicycles among North American consumers.

    SAMEBIKE LO26-II-FT ebike-1

    By application type (freight/utility, urban travel, and hiking), consumers favor the use of e-bikes in place of public transportation, with urban travel applications accounting for 81.89% of the segment.

    Why e-bikes?

    With major cities in North America facing transportation challenges such as traffic congestion, injuries and loss of life due to road traffic accidents, deteriorating local air quality, climate change, obesity and physical inactivity, economic burden, and international oil supply rates, the use of transportation, such as bicycles, as an alternative to car travel has been identified as an important means of solving the problem.

    According to statistics, e-bikes have increased the average commuting distance of North American commuters from 2.1 km/d to a value of 9.2 km/d.

    Demand for e-bikes in North America is soaring because e-bikes can be used by people of different ages. Younger people use them for commuting and exercise, while older people primarily use them for shorter, safer commutes.

    North America E-bike Market, Adoption Rate, Volume, Percent, 2017-2029

    In addition, local government incentives to support the use of ebikes on public roads are a major factor in the demand for ebikes.

    Based on these trends, future demand for e-bikes for last mile delivery and public bike sharing networks continues to rise.

    Highly competitive market

    The North American e-bike market is an extremely fragmented market with both local and international players in the region.

    Trek is the leading player in the North American e-bike market and has managed to capture 5.51% of the North American ebike market with a strong focus on plant upgrades and offering a wide range of ebike-related products and solutions through an extensive distribution network.

    The strongest contenders under Trek are Cannondale, Giant, Riese & Müller, and Yamaha (in no particular order), which together with Trek hold 14.37% of the North American ebike market. You can also check the top 20 electric bike manufacturers in the world for your reference.

    In addition to the above companies, Propella, Rad Power, Aventon and Gazelle are also important players in the North American e-bike market.

    SAMEBIKE SY26 ebike-1

    In summary, the lack of an absolute industry monopoly in the North American market, coupled with the fact that Europe, the largest bicycle market, is in a high inventory crisis.

    International e-bike manufacturers are coincidentally looking to North America as an alternative investment destination to the European market, resulting in an extremely fragmented and highly competitive global market.

    U.S. e-bikes on the rise in a downturn market

    The number of bicycles imported in 2023 declined sharply due to a reduction in supplier orders due to excess inventory.

    For conventional bicycles, imports in 2023 were down 41% from 2022, while imports in 2022 were down 31% from 2021. 2023 Conventional bicycle imports of 5.4 million were the lowest on record since 1981.

    USA E-Bike Imports vs Pedal Only Bikes

    In contrast, 2023 imports of e-bikes, at 0.99 million units, were down only 10 percent from 2022, which was up 25 percent from 2021.

    Not only that, but the market share of e-bikes is steadily increasing, rising from 2% in 2016 to more than 18% of conventional bicycle sales in 2023.

    This is a bright result despite the fact that much of the growth in 2023 is due to significant cuts in conventional bicycle imports.

    E-Bike Imports as a Percentage of Pedal-Only (20+)

    Some have speculated that when e-bike imports reach 20% of traditional bike imports, it will mark an inflection point in U.S. e-bike sales, with a significant increase in market share (the field hockey curve).

    In an informal poll conducted by the Bike Industry Recovery Facebook group, 56% of retailers surveyed said their e-bike sales were up from traditional bikes.

    Conclusion

    Unlike the cycling culture prevalent in European countries, consumers in North America choose e-bikes for more realistic and direct purposes.

    In a highly volatile market, how to win the favor of consumers and build online and offline marketing networks is the most critical challenge for entrepreneurs.

    Your electric bike expert - SAMEBIKE

    Since its establishment in 2004, Sameway Group has been committed to the research and development, manufacturing and global marketing of lithium electric bicycles and related products for 18 years.

    Electric bike manufacturer – SAMEBIKE is our factory-owned brand, and have been sold all over the world, now it is a global brand.

    Sameway has R&D engineers with more than 10 years of experience, who strongly support OEM/ODM production, and expand Sameway’s production lines.

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    We understand the relationship between recreation and healthy living, and we firmly believe that energetic sports are a fashionable necessity.

    We understand that sports is not a competition, but an attitude to life, and SAMEBIKE electric bikes are willing to face the challenges of life with the honesty of cycling.

    You can also visit our SAMEBIKE store to get the best price.

    Chocolatezhu
    Chocolatezhu
    Hi, I'm an experienced writer about mechanic and an expert on bike and e-bike tech who appreciates practical, beautifully-engineered things. And of course, I love cycling.
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