E-bike industry to grow to $92.19 billion by 2029, report says

Growth is spurred by an increase of acceptance, technological advancements and e-bike usage in bike share programs

Usage of e-bikes in bike share programs are growing the US e-bike market
(Image credit: Getty Images)

The electric bike market is expected to experience rapid global growth in the coming years, says Fortune Business Insights. The market, which was valued at 35.69 billion USD in 2021, is projected to grow to 91.19 billion by 2029 with a compound annual growth rate (CAGR) of 12.6%. 

There are several factors that are affecting this growth with the first being a rise in policy support and the emergence of more e-bike sharing programs. Additionally, cycling infrastructure is improving and being implemented more in emerging economies and urban areas. 

Thank you for reading 20 articles this month* Join now for unlimited access

Enjoy your first month for just £1 / $1 / €1

*Read 5 free articles per month without a subscription

Join now for unlimited access

Try first month for just £1 / $1 / €1

Henry Lord

Henry Lord is a Cycling Weekly Intern. He grew up in southern Maine and was introduced to mountain biking by his dad. Lord grew up racing mountain bikes and cyclocross across the East Coast as well as downhill and XC skiing. He moved out west to Durango, Colorado to start college at Fort Lewis, where in the last two years he has focused on road racing in addition to studying Communication design and marketing.