Electric Bicycles - Brazil | Statista Market Forecast

Revenue in the Electric Bicycles market in Brazil is forecasted to reach US$73.20m by 2024.
This represents an annual growth rate (CAGR 2024-2029) of 15.51%, leading to a projected market volume of US$150.50m by 2029.
The unit sales in the Electric Bicycles market in Brazil are expected to hit 98.86k bicycles by 2029.
The volume weighted average price of Electric Bicycles market in Brazil is anticipated to be US$1.42k in 2024.
It is noted from a global standpoint that China will generate the highest revenue, amounting to US$12bn in 2024.
In Brazil, the electric bicycles market is experiencing growth due to increased awareness of 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 Brazil is seeing remarkable growth, fueled by factors like the rising popularity of eco-friendly transportation, growing health consciousness among consumers, and the convenience of online purchasing. This considerable growth rate is being driven by the increasing demand for sustainable and efficient modes of transportation in the country.

Customer preferences: With the rise of environmental consciousness, there has been a growing demand for sustainable transportation options in Brazil. This has led to a significant increase in the popularity of electric bicycles, which offer a more eco-friendly and cost-effective alternative to traditional gasoline-powered vehicles. Additionally, the increasing urbanization and traffic congestion in major cities have also contributed to the rising demand for electric bicycles as a convenient mode of transportation.

Trends in the market: In Brazil, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand as consumers look for more environmentally friendly transportation options. This trend is expected to continue as the government implements policies to promote electric vehicles and reduce carbon emissions. Additionally, there is a growing focus on e-bike sharing programs in urban areas, providing convenient and affordable transportation for city dwellers. These developments have significant implications for industry stakeholders, including manufacturers, retailers, and service providers, who must adapt to cater to this evolving market.

Local special circumstances: In Brazil, the Electric Bicycles market is thriving due to the country's high urbanization rate and traffic congestion. Additionally, the government's push for sustainable transportation options has led to favorable regulations and incentives for electric bicycles. The country's large middle class, coupled with rising environmental awareness, has also contributed to the market's growth. Furthermore, the unique geography and topography of Brazil, with its many hills and mountains, make electric bicycles a practical and attractive mode of transportation for both leisure and commuting purposes.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Brazil is influenced by macroeconomic factors such as consumer spending, government policies, and technological advancements. As the country's economy continues to grow, there is an increase in disposable income, leading to a rise in demand for electric bicycles. Additionally, the government has implemented policies to promote sustainable transportation, which has further boosted the market. Furthermore, the increasing investment in renewable energy sources and technological advancements in battery technology have contributed to the growth of the electric bicycles market in Brazil. These factors, coupled with the country's large population and growing urbanization, create a favorable environment for the market's expansion.

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.