Electric Bicycles - Albania | Statista Market Forecast

The revenue in the Electric Bicycles market of Albania is forecasted to reach US$8.58m by 2024.
This revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 6.41%, leading to a projected market volume of US$11.70m by 2029.
The unit sales in the Electric Bicycles market of Albania are expected to reach 5.80k bicycles in 2029.
The volume weighted average price of the Electric Bicycles market in Albania in 2024 is projected to amount to US$2.03k.
Looking at an international perspective, it is evident that the highest revenue will be generated China (US$12bn in 2024).
In Albania, the Electric Bicycles market is experiencing a surge in demand among urban commuters seeking eco-friendly transportation options.

Definition:

Electric bicycles are means of transport designed to transport people and goods for professional and private purposes. They are used for leisure activities such as travelling or for physical exercise. Depending on the specific purpose and rider, bicycles come in different shapes and features.

They are powered by combination of human strength and by electrically powered motors.

In recent years, different renting models have been established such as bike-sharing, in which bicycles can be rented for a defined period in exchange for a fee. These rented bikes are not included in this market outlook. Only bikes that were purchased for ownership are covered.

Structure:

The electric bicycles market covers all types of bicycles with electrical assistance, including road and racing bicycles, off-road bicycles, and special purpose bicycles. However, motorcycles, scooters, mopeds, secondhand bicycles, as well as bikes purchased by bike-sharing services are not included.

Additional information:

The market comprises the number of bicycles sold, the average price paid per bicycle, revenue, and revenue growth as the key performance indicators. Revenue is derived as the product of the average price per bicycle times the number of bicycles purchased. Therefore, revenue excludes any profits from bike-sharing fees. Revenues are including VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.

Electric Road and racing bicycles such as cruiser, e-standard, e-gravel road-,e-touring-, and e-fixed gear bikes

Motorcycles, scooters, mopeds, regular bicycles
Secondhand bicycles
Bike-sharing bicycles
Rented bicycles

The Electric Bicycles Market in Albania has seen minimal growth due to factors such as low consumer awareness and limited infrastructure for electric bikes. Despite this, the market is expected to grow in the future with the increasing popularity of eco-friendly transportation options.

Customer preferences: With the rise of eco-consciousness and the need for sustainable transportation options, there has been a growing interest in electric bicycles in Albania. This trend is particularly evident among younger generations who are increasingly adopting a more active and environmentally-friendly lifestyle. Additionally, the convenience and ease of use of electric bicycles make them a popular choice for commuters in urban areas, where traffic and parking can be major challenges. As a result, there has been a significant increase in the sales of electric bicycles in Albania, with a particular emphasis on models that offer longer battery life and faster charging times. This shift in consumer preferences towards electric bicycles is also being driven by the increasing availability of charging stations and government initiatives to promote electric transportation.

Trends in the market: In Albania, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the rising awareness of environmental sustainability and the need for alternative modes of transportation. This trend is expected to continue as the government implements policies to promote the use of electric bicycles and invests in infrastructure for their use. This presents opportunities for industry stakeholders to tap into a growing market and develop innovative products and services to meet consumer needs. Additionally, the increasing popularity of electric bicycles can also have positive implications for reducing air pollution and promoting healthier lifestyles.

Local special circumstances: In Albania, the Electric Bicycles Market within the Bicycles Market is facing unique challenges due to its mountainous terrain and lack of developed infrastructure for cycling. However, the country's growing tourism industry and efforts to promote sustainable transportation are creating opportunities for electric bicycles. Additionally, the government's efforts to promote eco-friendly transportation and reduce air pollution are expected to drive the demand for electric bicycles in the market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Albania is also influenced by macroeconomic factors such as government policies and investments in sustainable transportation infrastructure. With a growing global focus on reducing carbon emissions and promoting eco-friendly modes of transportation, the demand for electric bicycles is expected to rise in Albania. Additionally, the country's improving economic health and increasing disposable income levels are likely to drive consumer spending on premium electric bicycles. Moreover, favorable regulations and incentives for electric vehicle adoption are further expected to support the growth of the electric bicycles market in Albania.

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).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The bicycle market in Germany has been enjoying dynamic development for a very long time. Bicycles are a popular way to get around in both urban and rural areas, with young children learning to ride firmly entrenched in the national culture. Germany has a variety of scenic bike routes, but looking out for bike lanes in a city is a daily part of life both for cyclists and pedestrians. Many cyclists value the multiple advantages cycling brings – physical activity, saving money by foregoing commuting with public transport or driving, and the eco-friendly aspect. A German city, Munster, even made it on the list of the eight most bike-friendly cities in the world in 2022.