Electric Bicycles - Israel | Statista Market Forecast

In 2024, revenue within the Electric Bicycles market in Israel is forecasted to reach US$44.61m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.68%, leading to a projected market volume of US$56.08m by 2029.
By 2029, unit sales in the Electric Bicycles market are expected to reach 46.86k bicycles in Israel.
The volume weighted average price of Electric Bicycles market in Israel for 2024 is projected to be US$1.16k.
It is evident from an international standpoint that China will generate the highest revenue, amounting to US$12bn in 2024.
In Israel, the Electric Bicycles market is experiencing a surge in demand driven by eco-conscious consumers and urban mobility initiatives.

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 Israel has seen a slow growth rate, influenced by factors such as limited infrastructure, high prices, and lack of government support. However, with increasing environmental concerns and a growing interest in alternative transportation, the market is expected to experience gradual growth in the coming years.

Customer preferences: As electric bicycles gain popularity in Israel, there is a noticeable trend towards eco-friendly and sustainable transportation solutions. This is driven by the country's strong focus on environmental conservation and the growing awareness of the impact of traditional transportation methods on the environment. Additionally, the convenience and ease of using electric bicycles in urban areas, where traffic and parking can be challenging, have also contributed to their increasing demand. This shift towards eco-conscious and convenient modes of transportation is likely to continue as more people prioritize sustainable living and seek out alternative transportation options.

Trends in the market: In Israel, the Electric Bicycles Market is experiencing a surge in demand due to the growing popularity of eco-friendly transportation options. This trend is expected to continue as the government implements policies to promote sustainable mobility. Additionally, the market is witnessing a shift towards e-bikes with advanced features such as longer battery life and smart connectivity. This presents opportunities for industry stakeholders to innovate and differentiate their offerings. However, there may also be challenges in terms of regulations and infrastructure development to support the growth of the electric bicycle market.

Local special circumstances: In Israel, the Electric Bicycles Market is thriving due to the country's strong cycling culture and government support for sustainable transportation. The compact size and hilly terrain of the country make electric bicycles a popular choice for commuters. Additionally, Israel's strict environmental regulations and high gas prices have led to a growing demand for electric bicycles as an eco-friendly alternative. Moreover, the country's advanced technology sector has resulted in the development of innovative electric bicycle designs and features.

Underlying macroeconomic factors: The Electric Bicycles Market in Israel is also influenced by macroeconomic factors such as technological advancements, government support, and investment in sustainable transportation infrastructure. Israel's strong focus on innovation and technology has led to the development of advanced electric bicycle technologies, making it a leader in the global market. Additionally, the country's favorable regulatory environment and government initiatives to promote clean energy and reduce carbon emissions have also contributed to the growth of the Electric Bicycles Market. Furthermore, with an increasing population and rising concerns about air pollution, there is a growing demand for eco-friendly transportation options, further driving the market growth for electric bicycles in Israel.

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.