Electric Bicycles - Italy | Statista Market Forecast

In Italy, the revenue in the Electric Bicycles market is forecasted to reach US$929.10m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.10%, leading to a projected market volume of US$933.70m by 2029.
The unit sales in the Electric Bicycles market are expected to reach 467.60k bicycles in 2029.
The volume weighted average price of Electric Bicycles market in Italy in 2024 is projected to be US$1.86k.
It is evident from a global standpoint that China will generate the most revenue, with US$12bn in 2024.
in Italy, known for its rich history, art, and culture, is poised to play a significant role in the Electric Bicycles market.
In Italy, the Electric Bicycles market is rapidly growing, reflecting a shift towards sustainable transportation options in urban areas.

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 Italy within the Bicycles Market is experiencing subdued growth due to factors such as slow adoption of electric technology and limited consumer awareness. Despite this, the convenience of electric bikes is driving some growth in the market.

Customer preferences: The growing popularity of eco-friendly transportation options, coupled with a rise in health consciousness, has led to a significant increase in demand for electric bicycles in Italy. This trend is particularly evident among younger generations who are more likely to prioritize sustainability and physical activity in their lifestyle choices. Additionally, the increasing availability and affordability of electric bicycles have made them a desirable alternative to traditional modes of transportation, especially in urban areas with heavy traffic and limited parking options. This shift towards electric bicycles highlights a cultural shift towards more sustainable and active modes of transportation.

Trends in the market: In Italy, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand, driven by increasing concerns over environmental sustainability and a desire for alternative modes of transportation. This trend is expected to continue as the government implements policies to promote the use of electric bicycles and the market becomes more competitive with the introduction of new players. Furthermore, the integration of advanced technologies, such as GPS and smartphone connectivity, into electric bicycles is expected to enhance the overall user experience and drive market growth. Industry stakeholders should closely monitor these developments and adapt their strategies to capitalize on the growing demand for electric bicycles in Italy.

Local special circumstances: In Italy, the Electric Bicycles market is growing due to the rising concern for environmental sustainability and the government's incentives for green transportation. The country's hilly terrain and historic cities also make electric bicycles a popular choice for commuting. Additionally, Italy's strong cycling culture and love for fashion have led to the development of stylish and high-end electric bicycles. These unique factors contribute to the market's growth and demand for electric bicycles in Italy.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Italy is influenced by macroeconomic factors such as government incentives and subsidies, consumer spending patterns, and investment in sustainable transportation infrastructure. Italy has a strong commitment to reducing carbon emissions and promoting eco-friendly modes of transportation, which has led to an increase in demand for electric bicycles. Additionally, the country's aging population and rising health concerns have also contributed to the growth of the market, as electric bicycles offer a convenient and sustainable mode of transportation for individuals with limited mobility and those looking to improve their overall health and well-being. Furthermore, the global trend towards sustainable living and the increasing popularity of electric bicycles as a cost-effective and environmentally friendly alternative to traditional modes of transportation are also expected to drive the growth of the market in Italy.

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.