Electric Bicycles - Denmark | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Denmark is forecasted to reach US$348.70m.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 1.19%, leading to a projected market volume of US$370.00m by 2029.
The unit sales of Electric Bicycles market in Denmark are expected to reach 217.80k bicycles by 2029.
The volume weighted average price of Electric Bicycles market in the Danish market in 2024 is projected to be US$1.61k.
Internationally, it is evident that China will generate the highest revenue, amounting to US$12bn in 2024.
In Denmark, the Electric Bicycles market is surging due to government incentives promoting 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 Denmark is facing a negligible decline in growth rate, influenced by factors such as limited infrastructure, high initial costs, and lack of government support. Nevertheless, the market continues to grow due to increasing demand for eco-friendly transportation options and rising health consciousness among consumers.

Customer preferences: Electric bicycles have seen a significant rise in popularity in Denmark, driven by the country's strong cycling culture and increasing focus on sustainability. With a growing preference for eco-friendly transportation options, consumers are turning to electric bicycles as a convenient and environmentally friendly way to commute. Additionally, the rise of e-bike sharing services has made it easier for individuals to access and use these bikes, further boosting their demand. This trend is likely to continue as more people prioritize greener and more efficient modes of transportation.

Trends in the market: In Denmark, the Electric Bicycles Market is experiencing a surge in demand, driven by the increasing popularity of eco-friendly transportation options. This trend is expected to continue as the government implements policies to promote sustainable mobility. As a result, there has been a rise in new entrants in the market, offering innovative electric bicycle designs and services. This could have significant implications for traditional bicycle manufacturers, who may need to adapt and incorporate electric models into their product offerings to stay competitive. Additionally, there is potential for growth in related industries such as battery manufacturing and charging infrastructure development.

Local special circumstances: In Denmark, the Electric Bicycles market is thriving due to the country's strong cycling culture and government initiatives promoting sustainable transportation. The country's flat terrain and well-maintained cycling infrastructure also make it an ideal market for electric bicycles. Additionally, Denmark has strict regulations on vehicle emissions, making electric bicycles a popular alternative to traditional gas-powered vehicles. Furthermore, the country's high income levels and environmentally conscious population contribute to the growing demand for electric bicycles in the market.

Underlying macroeconomic factors: The Electric Bicycles Market in Denmark is also influenced by macroeconomic factors such as technological advancements, government support, and investment in sustainable transportation infrastructure. Denmark has a strong focus on promoting sustainable transportation and has implemented policies to reduce carbon emissions and promote the use of electric vehicles. This has created a favorable regulatory environment for the electric bicycles market, leading to faster market growth compared to regions with limited government support and infrastructure. Additionally, the growing awareness and concern for environmental sustainability among consumers is driving the demand for electric bicycles as a more eco-friendly mode of transportation.

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.