Electric Bicycles - New Zealand | Statista Market Forecast

In 2024, revenue in the Electric Bicycles market in New Zealand is forecasted to reach US$60.92m.
The market is expected to experience a Compound Annual Growth Rate (CAGR 2024-2029) of 3.35%, leading to a projected market volume of US$71.83m by 2029.
Unit sales in the Electric Bicycles market are anticipated to reach 37.22k bicycles in 2029.
The volume-weighted average price of Electric Bicycles market in the market in 2024 is expected to be US$1.93k.
Looking at the international perspective, it is evident that China will generate the most revenue, with US$12bn in 2024.
In New Zealand, the Electric Bicycles market is gaining momentum due to increased focus on sustainability and eco-friendly transportation options.

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 New Zealand has seen a slight decline in growth, impacted by factors such as limited infrastructure and high prices. Despite this, the market is still driven by the increasing demand for eco-friendly transportation options and the convenience of electric bikes.

Customer preferences: With a growing focus on sustainability and eco-friendly transportation, there has been a rise in demand for electric bicycles in New Zealand. This trend is driven by a combination of factors, including a cultural emphasis on environmental responsibility, an aging population looking for alternative modes of transportation, and a desire for convenience and ease of use. As a result, the electric bicycle market in New Zealand is expected to continue experiencing significant growth in the coming years.

Trends in the market: In New Zealand, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to the rising interest in eco-friendly transportation options. This trend is expected to continue as the government promotes sustainable modes of transportation and individuals become more conscious of their environmental impact. This presents significant opportunities for industry stakeholders, such as manufacturers and retailers, to capitalize on this growing market. Additionally, advancements in technology are leading to the development of more efficient and user-friendly electric bicycles, further driving the trend towards their adoption. As a result, the Electric Bicycles Market within the Bicycles Market in New Zealand is expected to witness continued growth in the coming years.

Local special circumstances: In New Zealand, the Electric Bicycles Market within the Bicycles Market is influenced by the country's topography, with its hilly terrain and long distances between cities. This has led to an increased demand for electric bicycles as a mode of transportation. Additionally, the country has a strong cycling culture and government initiatives promoting sustainable transportation, leading to a growing market for electric bicycles. The market is also influenced by the country's strict regulations on emissions, pushing consumers towards eco-friendly options.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in New Zealand is influenced by macroeconomic factors such as the country's economic health and fiscal policies. The growing trend towards sustainable transportation and the government's initiatives to promote eco-friendly modes of transportation are driving the demand for electric bicycles in the country. Additionally, the increasing awareness about the benefits of electric bicycles, such as reduced carbon emissions and cost savings, is also contributing to market growth. Moreover, the country's stable economic conditions and favorable regulatory environment for electric vehicles are further propelling 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.