Electric Bicycles - Kazakhstan | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in Kazakhstan is forecasted to reach US$2.67m.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 20.42%, leading to a projected market volume of US$6.75m by 2029.
By 2029, unit sales in the Electric Bicycles market in Kazakhstan are expected to reach 5.38k bicycles.
The volume weighted average price of Electric Bicycles market in the market in Kazakhstan in 2024 is projected to be US$1.03k.
Looking at an international perspective, it is evident that China will generate the most revenue in the Electric Bicycles market, amounting to US$12bn in 2024.
In Kazakhstan, the Electric Bicycles market is steadily growing, fueled by increased urbanization and a focus on 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 Kazakhstan has been steadily growing, fueled by factors such as the country's increasing adoption of electric technologies, growing environmental consciousness, and the convenience of online purchasing. This market is expected to maintain an average growth rate, influenced by the rising demand for eco-friendly transportation options and government initiatives promoting sustainable mobility.

Customer preferences: As more consumers in Kazakhstan become environmentally conscious and seek ways to reduce their carbon footprint, there has been a notable increase in demand for electric bicycles. This trend is also driven by the growing popularity of cycling as a mode of transportation and leisure activity. Additionally, the rising cost of fuel and the need for affordable transportation options have also contributed to the growing demand for electric bicycles in the country.

Trends in the market: In Kazakhstan, the Bicycles Market is seeing a surge in demand for electric bicycles, driven by the rise in eco-consciousness and the need for sustainable transportation options. This trend is expected to continue in the coming years, with the government promoting the use of electric bicycles through subsidies and infrastructure development. This presents opportunities for industry players to expand their market share and tap into the growing demand. However, challenges such as high initial costs and lack of awareness about electric bicycles may hinder the growth of this market. As such, companies should focus on educating consumers and improving product affordability to stay competitive in this evolving market.

Local special circumstances: In Kazakhstan, the Electric Bicycles Market within the Bicycles Market is influenced by the country's vast and varied terrain, with its rugged mountains and vast steppes. This has led to a demand for electric bicycles with strong motors and durable frames. Additionally, the country's government is actively promoting the use of electric vehicles, providing incentives for their purchase and use. This has further boosted the growth of the electric bicycles market in Kazakhstan.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Kazakhstan is influenced by macroeconomic factors such as government initiatives promoting sustainable transportation solutions and increasing investment in green technologies. The country's strong economic growth and rising disposable income levels are also driving the demand for electric bicycles. Additionally, global trends towards reducing carbon emissions and increasing environmental awareness are creating a favorable market environment for electric bicycles in Kazakhstan.

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.