SEATTLE, April 25, 2022 (GLOBE NEWSWIRE) -- The Europe e-bike Market was valued at US$ 6,327.7 Million in 2021 and is expected to reach US$ 13,636 Million by the end of 2030.
An e-bike refers to bicycles with a motor and rechargeable batteries that assist the rider and alleviate some of the pressure of pedaling efforts. E-bikes enable users to cycle further and more often without getting tired as compared to conventional bicycles. It is also helpful to users with limited mobility and offers a cheaper alternative to car travel.
E-bike manufacturers are focusing on improving the entire user interface by creating and developing e-bikes that can interact with the riders' smartphones and deliver real-time information on the speed and battery level. The market for electric bikes in Europe is expected to witness significant growth during the forecast period with an increasing number of companies entering the market and increased demand for e-bikes in last-mile deliveries.
Market Drivers
Consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute
Increase in global carbon emission by fuel combustion has been one of the major concerns for governments and environmentalists from the past few decades. This, in turn, boosts demand for electric vehicles across the globe, thereby driving growth of the market. In addition, due to rise in cost of fuel at international level, increase in pollution, and traffic congestion especially in urban areas have increased the popularity of electric bikes across every continent. Moreover, higher running and maintenance cost of fuel vehicle leads to shift in preference for electric bike in daily commute, which, in turn, propels the Europe e-bike market growth.
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Market Opportunities:
Improvement in bicycling infrastructure & battery technology
E-bikes are less expensive than cars, do not require license, and can be used on existing bicycling infrastructure. Rapid urbanization and less preference of consumers to use cars due to increased traffic congestion are expected to offer lucrative opportunities for market growth. In addition, governments are focusing on the development of infrastructure for e-bikes, including bicycle tracks and public charging stations with the inclination of consumers toward e-bikes. Moreover, consistent technological innovations in e-bike by market players is expected to propel the market growth. Thus, all these factors collectively are expected to offer remunerative opportunities for the growth of the Europe e-bike market during the forecast period.
Market Trends
Governments of European countries such as Germany , Netherlands, and Belgium are taking initiatives to reduce the carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles, owing to increase in awareness toward the hazardous effects of using vehicles running on fossil fuels. Electric bicycles, scooters, and motorcycles have gained significant attention from various governments as reliable and efficient types of light motor vehicles (LMVs), which help in reducing the carbon footprint. Furthermore, to encourage the use of these environment-friendly vehicles, governments around the world are supporting for the purchase of electric mobility, in terms of tax credits and incentives. Furthermore, infrastructure facilities such as guarded bicycle parking facilities, construction of more bicycle (express) routes, and establishment of battery charging stations in many countries by the governments significantly boost the adoption of electric bikes by users, thereby propelling growth of the Europe e-bike market.
Competitive Landscape
Major companies operating in the Europe e-bike market include Accell Group, BionX, Bosch, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
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Market segmentation:
- By Bike Type:
- Mountain Bike
- Road Bike
- City Bike
- Cargo Bike
- Others
- By Battery Type:
- Lead Acid
- Nickel-cadmium
- Nickel-metal Hydride
- Lithium-ion
- By Motor:
- Hub Motor
- Mid Motor
- By Operation Mode:
- Battery/Peddle Operated
- Throttle Operated
Related Market Intelligence Reports:
E-Bike Market, by Type (Mountain Bike, Road Bike, City Bike , Cargo Bike, and Others), by Battery Type (Lead Acid, Nickel-cadmium, Nickel-metal Hydride, and Lithium-ion), by Motor (Hub Motor and Mid Motor), by Operating Mode (Battery/Peddle Operated and Throttle Operated), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
E-Bike Charging Station Market, by Vehicle Type (Electric Scooters/ Motorcycles and E-bikes) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
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