Electric Bicycles - Australia | Statista Market Forecast

Revenue in the Electric Bicycles market in Australia is forecasted to reach US$345.70m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 7.71%, leading to a projected market volume of US$501.20m by 2029.
Unit sales in the Electric Bicycles market of Australia are expected to hit 225.60k bicycles in 2029.
The volume-weighted average price of the Electric Bicycles market in Australia in 2024 is projected to be US$2.38k.
Looking at the global perspective, it is evident that the highest revenue will be generated China (US$12bn in 2024).
In Australia, the Electric Bicycles market is experiencing a surge in demand driven by eco-conscious consumers.

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 Australia is facing subdued growth, impacted by factors such as limited infrastructure and high costs. Despite this, the market is still expected to experience some growth due to increasing awareness and adoption of sustainable transportation options. Convenience and environmental concerns are also driving the demand for electric bicycles in the country.

Customer preferences: With the rise of eco-consciousness and a desire for alternative modes of transportation, there has been a growing interest in electric bicycles among Australian consumers. This trend is especially prevalent among urban dwellers, who are looking for convenient and cost-effective ways to commute. Additionally, the aging population in Australia has also contributed to the demand for electric bicycles, as they offer a more accessible and low-impact form of exercise. This shift towards electric bicycles is also reflective of a larger trend towards sustainable and healthy living.

Trends in the market: In Australia, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the rising popularity of eco-friendly transportation options. This trend is expected to continue as the government encourages the adoption of sustainable modes of transportation. Additionally, the introduction of new technologies, such as e-bikes with longer battery life and improved performance, is driving the market growth. As a result, industry stakeholders are investing in research and development to improve the overall user experience and stay competitive in the market. This trend is expected to have a significant impact on the transportation industry and contribute to a greener and more sustainable future.

Local special circumstances: In Australia, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the country's favorable climate and government incentives for sustainable transportation. Additionally, the country's vast and varied terrain makes electric bicycles a popular choice for commuting and recreational purposes. Furthermore, Australia's strict regulations on emissions and efforts to reduce carbon footprint have also contributed to the growth of the Electric Bicycles Market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Australia is affected by various macroeconomic factors, including the country's overall economic health, fiscal policies, and global economic trends. Australia has a stable economy with a strong focus on sustainability and innovation, making it a key market for electric bicycles. The government's support for green transportation and investment in sustainable infrastructure has also contributed to the growth of the electric bicycle market. Additionally, the rising concerns about air pollution and the increasing popularity of eco-friendly modes of transportation have further boosted the demand for electric bicycles in Australia.

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.