Electric Bicycles - Cambodia | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Cambodia is projected to reach US$2.81m.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.23%, leading to a projected market volume of US$3.63m by 2029.
By 2029, Electric Bicycles market unit sales in Cambodia are expected to reach 5.08k bicycles.
The volume weighted average price of the Electric Bicycles market in Cambodia in 2024 is anticipated to be US$707.40.
From an international perspective, it is evident that the most revenue will be generated China (US$12bn in 2024).
Cambodia, officially known as the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula Southeast_Asia.
The country has a rich history, with the Angkor Wat temple complex being a prominent symbol of its cultural heritage.
In recent years, in Cambodia has been experiencing economic growth, with tourism and garment manufacturing being significant contributors to its economy.
The official currency of Cambodia is the Cambodian Riel, although the US Dollar is widely used in transactions.
In Cambodia, the Electric Bicycles market is experiencing a surge in demand due to the growing emphasis on 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 Cambodia is facing negligible growth, influenced by factors such as low consumer awareness and limited access to online services. Despite this, the market is expected to see gradual growth due to the increasing popularity of eco-friendly transportation options.

Customer preferences: With the growing concern for environmental sustainability and the increasing popularity of eco-friendly transportation options, there has been a significant rise in the demand for electric bicycles in Cambodia. This trend is further fueled by the country's congested urban areas and the need for affordable and convenient modes of transportation. Additionally, the rising disposable income and changing lifestyles of the younger generation have led to a shift towards more technologically advanced and environmentally conscious products, making electric bicycles a popular choice among consumers.

Trends in the market: In Cambodia, 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 cost-effective transportation options. This trend is expected to continue as the government promotes the use of electric vehicles and implements policies to reduce carbon emissions. Industry stakeholders can capitalize on this trend by investing in research and development to improve the performance and affordability of electric bicycles, as well as expanding their distribution networks to reach a wider customer base. Additionally, partnerships with government agencies and NGOs can create opportunities for sustainable growth in the market.

Local special circumstances: In Cambodia, the Electric Bicycles Market within the Bicycles Market is influenced by the country's unique geographical landscape and cultural preferences. Due to the flat terrain and hot climate, electric bicycles have become a popular mode of transportation for both urban and rural areas. Additionally, the government has implemented policies to promote the use of electric vehicles, further driving the growth of the electric bicycles market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Cambodia is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and investment in infrastructure. Cambodia has experienced rapid economic growth in recent years, leading to an increase in disposable income and a growing middle class, which has resulted in a higher demand for electric bicycles. Additionally, the government has implemented policies to promote the use of electric bicycles as a means of reducing air pollution and promoting sustainable transportation. These factors, along with the country's increasing focus on green initiatives, are driving the growth of the Electric Bicycles Market in Cambodia.

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.