Electric Bicycles - Malta | Statista Market Forecast

The revenue in the Electric Bicycles market in Malta is forecasted to reach US$1.88m in 2024.
This represents a significant figure for the country's market.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.06%, leading to a projected market volume of US$2.41m by 2029.
In Malta, the unit sales of Electric Bicycles market in the market are expected to reach 1.79k bicycles by 2029, indicating a growing demand for this eco-friendly mode of transportation.
The volume weighted average price of Electric Bicycles market in the market in 2024 is projected to be US$1.37k, reflecting the pricing dynamics within Malta's market.
It is evident from an international perspective that the highest revenue in the Electric Bicycles market will be generated China, amounting to US$12bn in 2024.
This comparison underscores the varying market sizes and potentials across different countries worldwide.
In Malta, the Electric Bicycles market is experiencing a surge in demand, driven by a growing 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 Malta has been growing at a negligible rate, influenced by factors such as lack of infrastructure, limited consumer awareness, and high cost of electric bicycles. However, with increasing government initiatives and rising environmental concerns, the market is expected to witness gradual growth in the coming years.

Customer preferences: With the increasing focus on sustainability and eco-friendliness, there has been a growing demand for electric bicycles in Malta. This trend is further fueled by the country's small size and high population density, making electric bicycles a convenient and environmentally-friendly mode of transportation. Additionally, the increasing availability of electric charging stations and government subsidies for electric vehicles are also contributing to the growth of the electric bicycles market in Malta.

Trends in the market: In Malta, the Electric Bicycles Market within the Bicycles Market is experiencing a shift towards sustainable transportation options. With increasing concerns about the environment and rising fuel costs, more consumers are turning to electric bicycles as a convenient and eco-friendly mode of transportation. This trend is expected to continue, with potential implications for industry stakeholders such as bicycle manufacturers and retailers, as well as government policies promoting greener transportation solutions. Additionally, the rise of e-commerce and online purchasing has also contributed to the growth of the electric bicycle market, with more consumers opting to purchase these bikes online rather than in traditional brick-and-mortar stores.

Local special circumstances: In Malta, the Electric Bicycles Market within the Bicycles Market is influenced by the small size of the island and its limited road infrastructure. This has led to a rise in demand for electric bicycles as a convenient and eco-friendly mode of transportation. Additionally, the country's warm climate and hilly terrain make electric bicycles a popular choice for tourists and locals alike. Furthermore, Malta's strict regulations on vehicle emissions have also contributed to the growth of the Electric Bicycles Market.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Malta is influenced by macroeconomic factors such as the country's economic stability, government support for sustainable transportation, and consumer spending power. As global awareness of environmental issues increases, there is a growing demand for eco-friendly transportation options, including electric bicycles. In addition, the government's initiatives to promote sustainable transportation and reduce carbon emissions are creating a favorable market environment for electric bicycles. Moreover, with a strong economy and high disposable income, consumers in Malta are more likely to invest in electric bicycles, further driving market 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.