Electric Bicycles - Chile | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Chile is projected to reach US$13.08m.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.40%, leading to a projected market volume of US$18.69m by 2029.
Unit sales in the Electric Bicycles market in Chile are anticipated to reach 9.88k bicycles by 2029.
The volume weighted average price of Electric Bicycles market in Chile's market in 2024 is projected to be US$1.70k.
Looking at the international scenario, it is evident that China will generate the most revenue in the Electric Bicycles market worldwide, amounting to US$12bn in 2024.
In the Chilean Electric Bicycles market, sustainable commuting gains traction amidst urban congestion and environmental awareness.

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 Chile has seen minimal growth due to factors such as limited infrastructure for electric bicycles, low consumer awareness, and high initial costs. Despite these challenges, the market is expected to grow as the government implements initiatives to promote sustainable transportation.

Customer preferences: As more Chileans prioritize sustainability and eco-friendliness, there has been a growing interest in electric bicycles as an alternative mode of transportation. Additionally, with the rise of e-commerce and delivery services, there has been an increase in demand for electric bicycles for commercial use. This trend is further fueled by the country's hilly terrain, making electric bicycles a convenient and efficient option for transportation.

Trends in the market: In Chile, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the increasing awareness of environmental sustainability and the benefits of electric transportation. This trend is expected to continue as the government promotes the use of electric vehicles and implements policies to reduce carbon emissions. As a result, industry stakeholders can expect to see a rise in partnerships and collaborations between electric bicycle manufacturers and other industries, such as tourism and transportation. Additionally, there is potential for growth in the market for electric bicycle charging stations and other related infrastructure.

Local special circumstances: In Chile, the Electric Bicycles Market within the Bicycles Market is influenced by the country's unique geography, with its long coastline and mountainous terrain. This has led to a high demand for electric bicycles as a sustainable and efficient mode of transportation. Additionally, the country's strong cycling culture and government initiatives promoting environmentally-friendly transportation have further boosted the market. Chile's favorable regulatory environment for electric bicycles, including subsidies and tax incentives, has also played a significant role in driving market growth.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Chile is heavily influenced by macroeconomic factors such as the country's economic health and fiscal policies. Chile has a stable and growing economy, with a strong focus on renewable energy and sustainability. This has led to a favorable environment for the growth of the electric bicycles market, as the government has implemented policies and incentives to promote the use of eco-friendly transportation. Additionally, the country's growing middle class and increasing urbanization have also contributed to the demand for electric bicycles as a cost-effective and convenient mode of transportation. Furthermore, global trends towards sustainable and green transportation solutions have also had a positive impact on the electric bicycles market in Chile.

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.