Electric Bicycles - Croatia | Statista Market Forecast

Revenue in the Electric Bicycles market in Croatia is forecasted to reach US$147.00m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.37%, leading to a projected market volume of US$157.40m by 2029.
Unit sales in the Electric Bicycles market are expected to hit 100.30k bicycles in 2029.
The volume-weighted average price of Electric Bicycles market in the market in Croatia is projected to be US$1.52k in 2024.
Internationally, it is evident that China will generate the most revenue, amounting to US$12bn in 2024.
In Croatia, the Electric Bicycles market is experiencing a surge in demand, driven by eco-conscious consumers seeking sustainable 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 Croatia is facing a negligible decline in growth due to factors such as low consumer awareness and limited availability of infrastructure. However, with the increasing focus on eco-friendly transportation options, the market is expected to see a gradual rise in demand.

Customer preferences: With the rising concerns about environmental sustainability, there has been a growing interest in eco-friendly transportation options, including electric bicycles. This trend is particularly pronounced in Croatia, where the government has implemented initiatives to promote the use of electric bicycles as a means of reducing carbon emissions and promoting a healthier lifestyle. Additionally, as the country's population continues to age, there is a growing demand for electric bicycles among older individuals looking for a more accessible and low-impact mode of transportation. This shift towards eco-conscious and inclusive transportation options is expected to drive the growth of the electric bicycles market in Croatia.

Trends in the market: In Croatia, the Electric 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 implements initiatives to promote sustainable modes of transportation. Additionally, there is a growing trend of incorporating advanced technology in electric bicycles, such as smart sensors and GPS tracking, to enhance the user experience. These developments have significant implications for industry stakeholders, as they create opportunities for innovation and growth in the market. However, it also poses challenges in terms of ensuring safety and regulating the use of electric bicycles on roads.

Local special circumstances: In Croatia, the Electric Bicycles Market within the Bicycles Market is influenced by the country's unique geographical landscape. With its mountainous terrain and scenic coastlines, there is a growing demand for electric bicycles as a popular mode of transportation for tourists and locals alike. Additionally, the government's focus on sustainable tourism and eco-friendly initiatives has also contributed to the growth of the electric bicycles market. Furthermore, the cultural preference for outdoor activities and a healthy lifestyle has led to a rise in the adoption of electric bicycles among the population.

Underlying macroeconomic factors: One of the key macroeconomic factors driving the growth of the Electric Bicycles Market in Croatia is the increasing focus on sustainability and environmental consciousness. With the rising concerns over air pollution and climate change, governments and consumers are turning towards eco-friendly transportation options, including electric bicycles. This trend is further supported by favorable government policies and investments in promoting clean energy and reducing carbon emissions. Additionally, the growing popularity of electric bicycles among tourists and the rise in urbanization and traffic congestion are also contributing to the market growth.

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.