Report Overview

The government’s supportive initiatives and significant subsidies for promoting sustainable transportation to efficiently manage traffic congestions in expanding urban areas and growing environmental awareness are expected to drive Saudi Arabia E-Bike Market during the forecast period between 2024 and 2030.

Saudi Arabia E-Bike Market – Industry Trends & Forecast Report, 2030

Saudi Arabia E-Bike Market size by value was estimated at USD 9.7 billion in 2023. During the forecast period between 2024 and 2030, Saudi Arabia E-Bike Market size is projected to grow at a CAGR of 12.8% reaching a value of USD 22.5 billion by 2030. Prominent drivers of the market include the rising interest from fitness enthusiasts and sports athletes, along with increasing consumer awareness. The growing desire to address environmental issues and reduce carbon emissions is further fueling the demand for eco-friendly transportation. It has led to a surging preference for green mobility solutions, particularly e-bikes, as more individuals seek environmentally friendly transportation options.

By volume, Saudi Arabia E-Bike Market size was estimated at 7,38,454 units in 2023. During the forecast period between 2024 and 2030, Saudi Arabia E-Bike Market size is projected to grow at a CAGR of 13.9% reaching the volume of 18,25,158 units by 2030. The adoption of e-bikes in sectors like logistics and rental services is projected to drive the market. Also, the commercialization of lightweight e-bikes with longer battery life, coupled with manufacturers expanding their offerings to include a diverse range of models for urban commuting, is creating substantial revenue growth opportunities for the players in Saudi Arabia E-Bike Market.

E-Bike – Overview

An electric bicycle, commonly known as an e-bike, is a two-wheeled vehicle equipped with an electric motor to support the rider's pedaling. Designed to merge the benefits of motorized travel with the health and environmental advantages of traditional cycling, e-bikes come in various styles to suit different needs, including mountain bikes, urban commuters, and compact folding models. Powered by a rechargeable battery, the e-bike's motor provides adjustable levels of assistance, making it easier to tackle steep hills, cover long distances, or maintain a steady pace. Riders can choose from different power settings to customize their ride according to their preferences and conditions.

Saudi Arabia E-Bike Market

Growth Drivers

Government’s Initiatives and Subsidies for Sustainable Transportation

Saudi Arabia is actively advancing its transportation sector towards sustainability through strategic initiatives and subsidies aligned with Vision 2030. Its efforts emphasize economic diversification, technological innovation, and environmental stewardship. The Kingdom is investing in electric vehicle (EV) infrastructure, including charging stations, and offering incentives to promote EV adoption over traditional vehicles. Public transportation systems like the Riyadh Metro and Jeddah Public Transport Project are receiving significant funding to provide low-emission alternatives to private cars. Also, Saudi Arabia is promoting non-motorized transport through pedestrian-friendly zones and bike lanes to reduce urban congestion and promote healthier lifestyles. These initiatives are supported by regulatory frameworks, financial incentives, and public awareness campaigns, highlighting the Kingdom's commitment to a cleaner, sustainable transportation ecosystem. For instance, Tier Mobility's launch of e-scooter and e-bike services in cities like Jeddah and Riyadh exemplifies private sector collaboration in advancing sustainable transport options aligned with national goals.

Challenges

High Initial Purchase Costs and Maintenance Expenses

In Saudi Arabia, the growth of E-Bike Market could be hindered by high initial purchase costs and ongoing maintenance expenses. They may pose significant challenges to widespread adoption among consumers and businesses alike. Despite the environmental benefits and potential for reducing urban congestion, the current cost structures limit affordability and accessibility, thereby slowing market expansion. Addressing these financial challenges through subsidies or incentive programs could potentially spur greater adoption and accelerate the growth of Saudi Arabia E-Bike Market.

Impact of Escalating Geopolitical Tensions on Saudi Arabia E-Bike Market

Escalating geopolitical tensions among countries across regions could have a significant impact on the growth of Saudi Arabia E-Bike Market. Uncertainties and instability in geopolitical landscapes may disrupt supply chains, affecting import costs, fluctuations in oil prices, influencing overall economic conditions and consumer purchasing power. Also, heightened security concerns could affect consumer confidence and investment decisions in sustainable transport solutions. To mitigate these impacts, stakeholders may need to navigate regulatory changes and consider localized production strategies to enhance market resilience against geopolitical risks and ensure sustainable growth of Saudi Arabia E-Bike Market in the face of external uncertainties.

Saudi Arabia E-Bike Market

Segmental Coverage

Saudi Arabia E-Bike Market – By Propulsion Type

On the basis of propulsion type, Saudi Arabia E-Bike Market is bifurcated into Pedal-assisted and Throttle-assisted segments. The pedal-assisted segment holds a higher share in Saudi Arabia E-Bike Market by propulsion type. It is primarily due to their suitability for diverse terrains and climates. The pedal-assisted e-bikes combine pedal power with electric assistance, making them ideal for navigating hilly landscapes and arid conditions effortlessly. This technology supports urban mobility objectives and aligns with Vision 2030's goals by promoting sustainable transportation solutions. Cities across Saudi Arabia, including Medina, are integrating these bikes to enhance accessibility and reduce environmental impact. Equipped with innovative features such as smart charging stations, these e-bikes ensure continuous availability and convenience for users, thereby promoting a more active and sustainable urban lifestyle.

Saudi Arabia E-Bike Market – By Battery Type

Based on battery type, Saudi Arabia E-Bike Market is divided into Lithium-ion Battery, Lead-acid Battery, and other (including Nickel Metal Hydride) segments. During the forecast period, the lithium-ion battery segment is expected to hold the highest share in Saudi Arabia E-Bike Market by battery type. Lithium-ion batteries are optimized for weight and energy efficiency, offering superior range and durability compared to other types. Their ability to be customized into various shapes makes lithium-ion batteries ideal for applications requiring high capacity and low power consumption, facilitating convenient charging and extended battery life for consumers. Also, lithium-ion batteries have become the predominant choice in electric bikes. They are cost-effective and capable of handling higher discharge rates, making them attractive to manufacturers who seek to enhance consumer appeal by integrating these advanced battery technologies into their vehicles.

Saudi Arabia E-Bike Market – By Power Type

By power type, Saudi Arabia E-Bike Market is bifurcated into Less than & Equal to 250 Watts and Above 250 Watts segments.

Saudi Arabia E-Bike Market – By Application

Based on application, Saudi Arabia E-Bike Market is divided into City/Urban, E-Mountain, and Cargo segments. The cargo segment holds the highest share in Saudi Arabia E-Bike Market by application, signaling a transformative shift in logistics efficiency and sustainability. Electric cargo bikes are rapidly redefining last-mile delivery in urban centers like Riyadh and Dubai. Businesses in Saudi Arabia stand to gain significantly by embracing these eco-friendly vehicles, which streamline operations, reduce carbon footprints, and enhance overall cost-effectiveness. By adopting electric cargo bikes, companies not only meet the growing demand for sustainable transportation but also position themselves as leaders in innovative logistics solutions. The strategic move not only boosts operational agility in congested urban environments but also aligns with global trends towards eco-conscious practices.

Competitive Landscape

Major players operating in Saudi Arabia E-Bike Market include Trek Bicycle Corporation, Giant Manufacturing Co. Ltd, Accell Group, Specialized Bicycle Components, Inc, ONE Moto, Brompton Bicycle Ltd, Cube Bikes, Elesco, Eveons Mobility Systems LLC, and myStromer AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Propulsion Type

• Pedal-assisted

• Throttle-assisted

By Battery Type

• Lithium-ion Battery

• Lead-acid Battery

• Others (including Nickel Metal Hydride)

By Power Type

• Less than and Equal to 250 W

• Above 250 W

By Application

• City/Urban

• E-Mountain

• Cargo