Electric Bicycles - Southern Europe

Revenue in the Electric Bicycles market in Southern Europe is forecasted to reach US$2.56bn by 2024.
The market is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.41%, leading to a projected market volume of US$3.03bn by 2029.
Unit sales in the Electric Bicycles market are expected to reach 1.49m bicycles by 2029.
The volume-weighted average price of Electric Bicycles market in the market in Southern Europe in 2024 is projected to be US$1.99k.
Looking at the international context, it is evident that the highest revenue will be generated China (US$12bn in 2024).
In Southern Europe, the Electric Bicycles market is experiencing significant growth due to increasing environmental consciousness 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 Southern Europe is seeing minimal growth due to factors such as slow adoption of electric technology, low consumer awareness, and limited availability of online services. Despite these challenges, the market is expected to continue growing in the coming years.

Customer preferences: The electric bicycles market within the bicycles market in Southern Europe is experiencing a growth in demand as consumers prioritize environmentally-friendly transportation options. This trend is further reinforced by the region's increasing focus on sustainability and reducing carbon emissions. Additionally, there is a growing preference for electric bicycles among urban dwellers due to their convenience and flexibility in navigating traffic-congested cities. These factors are expected to drive the growth of the electric bicycles market in the region in the coming years.

Trends in the market: In Southern Europe, the Electric Bicycles Market is experiencing a surge in demand, driven by the increasing popularity of eco-friendly transportation options. This trend is expected to continue, with governments implementing policies to promote the use of electric bikes. Additionally, there is a growing trend of bike-sharing services, which offer convenient and affordable access to electric bikes. This presents opportunities for industry stakeholders to tap into this growing market segment and expand their offerings. As the trend towards sustainable transportation gains momentum, the Electric Bicycles Market in Southern Europe is poised for significant growth in the coming years.

Local special circumstances: In Southern Europe, the Electric Bicycles Market within the Bicycles Market is influenced by the region's unique cultural and regulatory landscape. For instance, in Italy, the market is driven by the country's strong cycling culture and supportive government policies promoting sustainable transportation. In Spain, the market is fueled by the growing trend of urbanization and the need for eco-friendly transportation solutions. Additionally, in Greece, the market is driven by the country's hilly terrain and the increasing popularity of e-bikes as an alternative to traditional bicycles for commuting and leisure activities.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Southern Europe is influenced by macroeconomic factors such as rising consumer demand for sustainable transportation options, government initiatives promoting eco-friendly modes of transportation, and increasing investment in infrastructure for electric vehicles. Additionally, the region's economic recovery and growing disposable income levels are driving the demand for premium electric bicycles. However, challenges such as high initial costs and limited charging infrastructure may hinder market growth in some countries.

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.