Electric Bicycles - Europe

Europe

In 2024, revenue in the Electric Bicycles market in Europe is forecasted to reach €17.92bn.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.59%, leading to a projected market volume of €21.38bn by 2029.
By 2029, unit sales in the Electric Bicycles market in Europe are expected to reach 9.18m bicycles.
The volume weighted average price of Electric Bicycles market in Europe in 2024 is projected to be €2.32k.
Internationally, it is evident that the highest revenue will be generated China (€10,720m in 2024).
In Europe, the Electric Bicycles market continues to surge, driven by environmental consciousness and government incentives for sustainable transportation options.

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Analyst Opinion

The Electric Bicycles Market in Europe has seen a slight growth rate, influenced by factors such as the rising popularity of eco-friendly transportation options and the increasing demand for efficient and sustainable modes of travel. This market has been expanding due to the convenience and cost-effectiveness offered by electric bicycles, as well as the growing awareness of the benefits of electric mobility.

Customer preferences: The increasing focus on sustainability and eco-friendliness has led to a growing demand for electric bicycles in Europe. Consumers are also prioritizing convenience and cost-effectiveness, with electric bicycles offering a more affordable and efficient mode of transportation. Additionally, the rise of urbanization and congested cities has contributed to the popularity of electric bicycles as a practical and environmentally-friendly alternative to traditional cars.

Trends in the market: In Europe, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the increasing awareness of the benefits of electric bikes in terms of environmental sustainability and health. This trend is expected to continue as governments across Europe are actively promoting the use of electric bikes as a mode of transportation. Additionally, the rise of e-commerce and online shopping has also contributed to the growth of the Electric Bicycles Market, as consumers prefer the convenience and speed of electric bikes for short distance commutes and deliveries. This trend is significant for industry stakeholders as it presents new opportunities for growth and innovation in the market. However, it also poses potential challenges, such as the need for infrastructure development and regulations to support the use of electric bikes on roads. Overall, the trajectory of this trend is likely to result in a more sustainable and efficient transportation landscape in Europe.

Local special circumstances: In Europe, the Electric Bicycles market is thriving due to the continent's strong focus on sustainability and eco-friendly transportation options. The region's strict emission regulations have also played a significant role in the market's growth, with governments incentivizing the use of electric bicycles. Additionally, Europe's well-developed cycling infrastructure and cultural preference for cycling have contributed to the market's success.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market is heavily impacted by macroeconomic factors in Europe. The region's economic health, as well as global economic trends, have a significant influence on the market's performance. Fiscal policies, such as tax incentives and subsidies for electric bicycles, can also greatly impact the market. Additionally, the increasing focus on sustainability and reducing carbon emissions has led to a growing demand for electric bicycles in Europe, further driving market growth. The region's strong investment in renewable energy sources and infrastructure development also supports the growth of the electric bicycles market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of electric bicycles and the respective average prices for bicycles.

Modeling approach:

Market sizes are determined through a Bottom-Up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use publications of industry associations, expert blogs, and data provided by governments and scientific institutions. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, and consumer spending per capita (based on current prices). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the ARIMA time series forecast and forecasts based on previous growth rates are well suited for forecasting the future demand for bicycles due to the brick and mortar nature of this market. The main drivers are GDP, consumer spending per capita, and population.

Additional notes:

The data is modeled using current exchange rates. The market is updated once a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).