Electric Bicycles - Greece | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Greece is forecasted to reach US$69.13m.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 1.84%, leading to a projected market volume of US$75.72m by 2029.
By 2029, unit sales in the Electric Bicycles market in Greece are expected to hit 50.68k bicycles.
The volume weighted average price of Electric Bicycles market in Greece in 2024 is projected to be US$1.47k.
From an international standpoint, it is evident that China will generate the most revenue, with US$12bn in 2024.
In Greece, the Electric Bicycles market is rapidly growing, driven by a surge in eco-conscious consumers seeking sustainable transportation solutions.

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 Greece is experiencing slow growth, influenced by factors such as limited infrastructure for electric bikes, high cost of purchasing and maintaining them, and lack of government incentives. Despite this, increasing environmental concerns and health consciousness among consumers are driving the market forward.

Customer preferences: With the growing emphasis on sustainable transportation, consumers in Greece are increasingly turning to electric bicycles as a eco-friendly and cost-effective alternative to traditional modes of transportation. This trend is further fueled by the country's hilly terrain and high gas prices. Additionally, the rise of e-bike sharing programs in major cities has made electric bicycles more accessible and convenient for urban commuters. As a result, the market for electric bicycles in Greece is expected to see significant growth in the coming years.

Trends in the market: In Greece, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand, driven by the increasing need for sustainable and eco-friendly transportation options. This trend is expected to continue as the government implements policies to promote electric vehicles and reduce air pollution. Moreover, there is a growing trend of using electric bicycles for leisure and tourism activities, creating new opportunities for the industry. However, this trend also presents challenges for traditional bicycle manufacturers who may need to adapt their business models to incorporate electric bicycles. Additionally, there is a potential for increased competition in the market as more players enter the electric bicycles segment.

Local special circumstances: In Greece, the Electric Bicycles market is gaining traction due to the country's hilly terrain and high fuel prices, making it an attractive alternative to traditional bicycles and cars. Additionally, the government has implemented incentives and subsidies for electric vehicles, including bicycles, to reduce emissions and promote sustainable transportation. The cultural preference for outdoor activities and the popularity of cycling as a means of exercise also contribute to the growth of the Electric Bicycles market in Greece. Furthermore, the country's warm climate and tourism industry create opportunities for rental and tour companies to offer electric bicycles as a convenient and eco-friendly mode of transportation for tourists.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Greece is influenced by macroeconomic factors such as government policies, economic stability, and consumer spending. With the country's ongoing economic recovery, there is an increased demand for affordable and sustainable transportation options, leading to the growth of the electric bicycles market. Additionally, increasing environmental concerns and government initiatives to promote green transportation are also driving the demand for electric bicycles in Greece. Moreover, the growing trend of urbanization and the need for efficient and convenient modes of transportation further contribute to the market's 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.