CANADA E-BIKE MARKET FORECAST 2023-2028

In Canada, e-bike sales are increasing, given the increased availability of e-bikes through online and offline retailers. Whereas to improve product quality, major market players are making significant investments in R&D projects. While to boost overall sales, they also concentrate on improving battery technology, combining lightweight materials, and funding advertising efforts. Such activities are expected to contribute to market growth, which could accelerate the development of electric bicycles in the coming years.

At the same time, price is one of the concerning factors for e-bike purchasers as e-bikes are costlier than conventional bicycles. Companies then resort to discounts and offers on purchases, which impacts their revenue and profitability. 

For instance, in Canada, the government provides rebates on e-bike purchases. In June 2023, the British Columbia Government commenced an e-bike rebate of up to $1,400. The rebates will be available to people aged 19 and above, with rebates ranging from $350 to $1,400 for approved e-bike purchases. Only e-bikes with a list price of $2,000 or more are eligible for the BC E-Bike Rebate Program. The overall program is estimated to cost $6 million and benefit up to 9,000 people.

Furthermore, more government investments in bike-sharing initiatives and the development of dedicated bike lanes and pedestrian-friendly urban environments are expected. These efforts align with the government’s broader objectives to encourage alternative transportation methods, enhance road safety, and advance environmental sustainability. Notably, electric bicycles are identified as an emerging transportation solution in Vancouver’s Transportation 2040 plan. This reflects the potential for e-bikes to evolve into the most environmentally conscious mode of transportation in Canada.

Over the course of the forecast period, factors like a propensity toward healthy living, a developing fitness trend, and a growing desire for recreational activities, particularly among young people, are anticipated to support the expansion of the Canada e-bike market.

 Inkwood Research’s report on the Canada e-bike market provides in-depth insights & segmentation analysis. The detailed assessment of the market includes market share analysis, competitive landscape, key buying criteria, PESTLE analysis, brand share analysis, and value chain analysis. The segmentation analysis of the market includes type, drive mechanism, application, battery, and power.

Some of the key players in the market Daymak Inc, Pedego, Aventon Bikes, etc.