E-Bike & LSV Industry Stats
Adjacent electrification verticals — electric bicycles and low-speed vehicles (golf carts + street-legal NEVs). These markets each ship more units annually than the entire US light-duty BEV market, and they rarely show up in EV industry coverage.
Electric bicycles
Annual e-bike sales trend
| Year | Units | Revenue ($B) | Share of bike $ | DTC units | Cargo units | YoY units |
|---|---|---|---|---|---|---|
| 2025 | 1,080,000 | $1.22 | 33.5% | 540,000 | 49,000 | +17.4% |
| 2024 | 920,000 | $1.04 | 30.0% | 450,000 | 38,500 | -12.4% |
| 2023 | 1,050,000 | $1.02 | 21.8% | 380,000 | 28,000 | -4.5% |
| 2022 | 1,100,000 | $1.08 | 17.5% | — | 22,000 | +25.0% |
| 2021 | 880,000 | $0.87 | 11.2% | — | 12,000 | +65.0% |
Top US e-bike brands
- Rad Power BikesDTCLargest US DTC e-bike brand by units; Seattle-based.
- TrekPremiumDominant in IBD (independent bike dealer) channel; broad price range.
- SpecializedPremiumPerformance + cargo; Turbo line.
- AventonDTCDTC + selective IBD; class 2/3 commuter and fat-tire.
- Lectric eBikesDTCFastest-growing DTC; folding XP-series anchor.
- TernCargoGSD + Quick Haul leaders in US cargo segment.
- Riese & MüllerCargoPremium European cargo; Load + Multicharger.
- HeybikeDTCCabin + Cityrun targeting commuter segment.
- GiantMass-marketStrongest in IBD with Quick-E + Trance E.
- CannondalePremiumAdventure Neo + Treadwell Neo for commuting.
Low-speed vehicles & electric golf carts
Annual LSV + golf cart trend
| Year | LSVs (street-legal) | Golf carts | Cumulative fleet | YoY |
|---|---|---|---|---|
| 2025 | 39,000 | 268,000 | 2,270,000 | +12.5% |
| 2024 | 31,500 | 240,000 | 2,010,000 | +12.0% |
| 2023 | 24,000 | 215,000 | 1,780,000 | +12.5% |
| 2022 | 18,500 | 195,000 | 1,580,000 | +19.0% |
| 2021 | 14,000 | 165,000 | 1,400,000 | +9.0% |
Street-legal LSVs (Polaris GEM, Garia, Club Car Onward LSV, Bintelli Beyond) are growing 20-30% YoY off a small base. Golf-cart growth is driven by master-planned communities (The Villages model) where carts are primary in-community transport. Most golf carts in the US are now electric — engine carts are a shrinking segment.
Source: PeopleForBikes US e-bike forecast + Circana retail data; LSV Manufacturers Council; EPA e-LSV registrations; National Golf Foundation rounds-played for context.
Reference URLs: https://www.peopleforbikes.org/news/electric-bicycle-market-insights-2024, https://www.peopleforbikes.org/statistics/electric-bikes
Last refreshed: 2026-05-09.