Demand for electric bicycles (E-bikes) is surging across Europe. In 2022, a total of 5.5 million E-bikes were sold in the European Union (EU) and the United Kingdom, marking an 8.6% year-over-year increase. Notably, demand has soared in countries like Germany, France, and the Netherlands. The European E-bike market is experiencing rapid growth, projected to expand at a compound annual growth rate (CAGR) of 12.5%, from €9.91 billion in 2023 to €17.84 billion by 2028. Outside of Europe, China’s E-bike market is also booming, with 30 million units sold annually.
The primary drivers of this growth are the global shift toward eco-friendly transportation and rising energy prices due to high oil costs. Compared to traditional bicycles, E-bikes offer superior mobility and very low annual maintenance costs—as little as $30 to $50 per year. In urban areas where average travel distances are relatively short, E-bikes are emerging as an effective alternative to electric vehicles, particularly among one- or two-person households.
[Fig] Global and European E-Bike Market Size and Forecast
Korea Mobility Co., Ltd. (CEO: Jeongseok Park), an E-bike company, has developed a hubless next-generation E-bike called the Komo Bike, using proprietary technology. The company recently secured 1.5 billion KRW in Pre-Series A funding. Korea Mobility plans to invest the funds primarily in production facilities to localize and mass-produce a 250W-class motor, the first of its kind in Korea. The company also became the first in the world to obtain CE certification for a hubless E-bike and is preparing to enter the high-demand European market.
[Fig] Korea Mobility’s Hubless E-Bike “Komo Bike”
Battery and charging systems are at the core of E-bike technology, and R&D in these areas is accelerating. Samsung SDI (CEO: Yoonho Choi) has released a high-capacity 3.5Ah lithium-ion cylindrical cell in response to growing market demand.
KoreaNet Co., Ltd. (CEO: Kangshik Chae) has developed an intelligent network-connected charging system, enabling efficient charging management.
Mobility Energy Co., Ltd. (CEO: Hangseok Choi) has addressed the issue of battery degradation due to heat during charging by introducing a monitoring system that tracks battery performance in real time. As shown, innovation in battery and charging systems for E-bikes is progressing rapidly.
[Fig] Samsung SDI’s Lithium-Ion Battery for E-Bikes – Cylindrical Cell Type
The Korean government is also actively supporting this transition. In response to climate change and carbon neutrality goals, the government provides subsidies to E-bike buyers, with local governments offering up to 300,000 KRW per purchase. Additionally, municipalities are launching bike-sharing programs to further expand access and adoption. This market expansion is expected to continue.
#EBikes #ElectricBikes #SustainableMobility #GreenTransportation #CleanEnergy #Micromobility #UrbanMobility #BatteryTechnology #LithiumIonBattery #SmartCharging #ESG #CarbonNeutral #RenewableEnergy #MobilityInnovation #CAGR #MarketGrowth #EuropeMarket #EuropeanUnion #KoreanStartup #KoreaMobility #HublessEBike #SamsungSDI #EVBattery #ClimateAction #GovernmentSubsidy
Demand for electric bicycles (E-bikes) is surging across Europe. In 2022, a total of 5.5 million E-bikes were sold in the European Union (EU) and the United Kingdom, marking an 8.6% year-over-year increase. Notably, demand has soared in countries like Germany, France, and the Netherlands. The European E-bike market is experiencing rapid growth, projected to expand at a compound annual growth rate (CAGR) of 12.5%, from €9.91 billion in 2023 to €17.84 billion by 2028. Outside of Europe, China’s E-bike market is also booming, with 30 million units sold annually.
The primary drivers of this growth are the global shift toward eco-friendly transportation and rising energy prices due to high oil costs. Compared to traditional bicycles, E-bikes offer superior mobility and very low annual maintenance costs—as little as $30 to $50 per year. In urban areas where average travel distances are relatively short, E-bikes are emerging as an effective alternative to electric vehicles, particularly among one- or two-person households.
[Fig] Global and European E-Bike Market Size and Forecast
Korea Mobility Co., Ltd. (CEO: Jeongseok Park), an E-bike company, has developed a hubless next-generation E-bike called the Komo Bike, using proprietary technology. The company recently secured 1.5 billion KRW in Pre-Series A funding. Korea Mobility plans to invest the funds primarily in production facilities to localize and mass-produce a 250W-class motor, the first of its kind in Korea. The company also became the first in the world to obtain CE certification for a hubless E-bike and is preparing to enter the high-demand European market.
[Fig] Korea Mobility’s Hubless E-Bike “Komo Bike”
Battery and charging systems are at the core of E-bike technology, and R&D in these areas is accelerating. Samsung SDI (CEO: Yoonho Choi) has released a high-capacity 3.5Ah lithium-ion cylindrical cell in response to growing market demand.
KoreaNet Co., Ltd. (CEO: Kangshik Chae) has developed an intelligent network-connected charging system, enabling efficient charging management.
Mobility Energy Co., Ltd. (CEO: Hangseok Choi) has addressed the issue of battery degradation due to heat during charging by introducing a monitoring system that tracks battery performance in real time. As shown, innovation in battery and charging systems for E-bikes is progressing rapidly.
[Fig] Samsung SDI’s Lithium-Ion Battery for E-Bikes – Cylindrical Cell Type
The Korean government is also actively supporting this transition. In response to climate change and carbon neutrality goals, the government provides subsidies to E-bike buyers, with local governments offering up to 300,000 KRW per purchase. Additionally, municipalities are launching bike-sharing programs to further expand access and adoption. This market expansion is expected to continue.
#EBikes #ElectricBikes #SustainableMobility #GreenTransportation #CleanEnergy #Micromobility #UrbanMobility #BatteryTechnology #LithiumIonBattery #SmartCharging #ESG #CarbonNeutral #RenewableEnergy #MobilityInnovation #CAGR #MarketGrowth #EuropeMarket #EuropeanUnion #KoreanStartup #KoreaMobility #HublessEBike #SamsungSDI #EVBattery #ClimateAction #GovernmentSubsidy