Electric Bicycles - Czechia | Statista Market Forecast

The revenue in the Electric Bicycles market in Czechia is forecasted to reach US$211.00m in 2024.
This projection anticipates an annual growth rate (CAGR 2024-2029) of 2.43%, leading to a projected market volume of US$237.90m by 2029.
The unit sales in the Electric Bicycles market are expected to reach 161.30k bicycles in 2029.
The volume weighted average price of Electric Bicycles market in Czechia in 2024 is expected to be US$1.48k.
Looking at the global perspective, it is evident that the highest revenue will be generated China (US$12bn in 2024).
In Czechia, the Electric Bicycles market is experiencing a surge in demand among urban commuters seeking eco-friendly transportation alternatives.

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 Czechia is experiencing slow growth due to factors such as low consumer awareness and lack of infrastructure. However, with increasing focus on eco-friendly transportation, the market is expected to see a slight rise in demand.

Customer preferences: With the rise of environmental awareness and a focus on sustainable transportation, there has been a growing interest in electric bicycles in Czechia. This trend is further fueled by the country's hilly terrain and urban congestion, making electric bicycles a convenient and eco-friendly mode of transportation. Additionally, the increasing popularity of e-bikes among older adults and commuters seeking a more active lifestyle has contributed to the growth of the electric bicycles market within the overall bicycles market.

Trends in the market: In Czechia, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in popularity due to increasing concerns about environmental sustainability and rising fuel costs. This trend is expected to continue as the government implements policies to promote the use of electric bicycles and invests in infrastructure to support their use. This presents opportunities for industry stakeholders, including manufacturers, retailers, and service providers, to capitalize on the growing demand for electric bicycles. Additionally, advancements in battery technology and the introduction of innovative features are expected to further drive the growth of the Electric Bicycles Market in Czechia.

Local special circumstances: In Czechia, the Electric Bicycles Market is gaining traction due to the country's strong cycling culture and infrastructure. The government's support for sustainable transportation and the increasing popularity of e-bike sharing programs have also contributed to the market's growth. Additionally, the country's hilly terrain and long distances between cities make electric bicycles a practical and efficient mode of transportation. This unique combination of factors sets Czechia apart from other markets and has a significant impact on the dynamics of the Electric Bicycles Market within the Bicycles Market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Czechia is influenced by macroeconomic factors such as consumer spending power, government incentives, and technological advancements in the transportation sector. With a strong economy and increasing disposable income, consumers in Czechia are increasingly adopting electric bicycles as a cost-effective and eco-friendly mode of transportation. Furthermore, government initiatives promoting sustainable transportation and investments in charging infrastructure are driving the growth of the electric bicycles market in the country. The increasing trend towards electric mobility, coupled with favorable economic conditions, is expected to continue driving the market growth in Czechia.

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.