GITNUX MARKETDATA REPORT 2024

Powerful Electric Bike Conversion Kit Sales Statistics

The sales statistics for powerful electric bike conversion kits are expected to show a steady increase in sales due to the growing demand for electric bicycles.

Last Updated: June 17, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore the latest statistics and market insights surrounding the global electric bike conversion kit industry. From the market value and growth projections to regional trends and key segments, we delve into the data that sheds light on the current landscape and future potential of electric bike conversions.

Statistic 1

"As of 2021, the global electric bike conversion kit market was valued at approximately $4.76 billion."

Statistic 2

"The electric bike conversion kit market is expected to grow at a CAGR of 6.1% from 2021 to 2028."

Statistic 3

"The hub motor conversion kit segment dominated the market with a total share of over 70% in 2020."

Statistic 4

"Direct to customer sales is projected to exhibit the highest CAGR of 7.2% from 2021 to 2028."

Statistic 5

"North America accounted for the largest market share for electric bike hub conversion kits in 2021 with a value of $1.2 billion."

Statistic 6

"In 2021, approximately 5 million electric bike conversion kits were sold in Europe."

Statistic 7

"The UK market for electric bike conversion kits rose by 45% between 2018 and 2020."

Statistic 8

"In 2021, an estimated 85% of all conversions in the UK used hub motor kits."

Statistic 9

"A report shows that the EMEA region could grow by approximately $1.78 billion from 2020 to 2024."

Statistic 10

"In Asia Pacific, over 1 million conversion kits were sold in 2020, showing a significant potential for growth."

Statistic 11

"In 2020, approximately 20% of all electric bikes sold in the US were conversions from regular bikes."

Statistic 12

"The online sales channel emerged as the fastest-growing segment in 2019 with a CAGR of 18.8% in the e-bike conversion kit market."

Statistic 13

"In 2020, the US market for e-bike conversion kits grew by 145%."

Statistic 14

"The mid-drive segment is set to achieve the fastest CAGR of 13% in the next 5 years."

Statistic 15

"In 2021, sales of electric bike conversion kits surpassed 500,000 units in France."

Statistic 16

"The electric bike conversion kit market in Italy expanded by 18% in 2020."

Statistic 17

"In 2019, the market share for e-bike conversion kits in North America was approximately 24%."

Statistic 18

"The rear hub motors dominated the electric bike conversion kit market with a share of 62% in 2020."

Statistic 19

"Lithium-ion batteries are predicted to witness the fastest growth at a CAGR of 10.2% from 2021 to 2028 in the electric bike conversion kit market."

In conclusion, the electric bike conversion kit market is witnessing significant growth and evolution, with key statistics indicating promising trends. The market value is projected to increase steadily, driven by factors such as the dominance of hub motor conversion kits, increasing direct-to-customer sales, and the rising popularity of e-bike conversions in various regions. Notably, regions like North America, Europe, and Asia Pacific are emerging as key players in this market, showcasing strong potential for growth and expansion. Additionally, the shift towards online sales channels and the growing popularity of lithium-ion batteries are poised to further drive the market in the coming years. These statistics collectively present a picture of a thriving industry with ample opportunities for businesses and enthusiasts alike.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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