Electric Bicycles - Ukraine | Statista Market Forecast

Revenue in the Electric Bicycles market in Ukraine is forecasted to reach US$12.75m in 2024.
This revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 36.99%, leading to a projected market volume of US$61.49m by 2029.
The unit sales in the Electric Bicycles market of Ukraine are expected to hit 26.81k bicycles in 2029.
The volume weighted average price of Electric Bicycles market in the market of Ukraine in 2024 is expected to be around US$2.13k.
When considering the global scenario, it is evident that China will generate the most revenue, achieving US$12bn in 2024.
In Ukraine, the Electric Bicycles market shows a growing demand, driven by 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 Ukraine has seen steady growth, driven by factors such as growing environmental consciousness and convenience of e-bikes. However, the market's growth rate is subdued due to factors such as limited infrastructure and high costs of e-bikes.

Customer preferences: In Ukraine, the Electric Bicycles Market within the Bicycles Market is experiencing a significant rise in demand as consumers prioritize eco-friendly and sustainable modes of transportation. This trend is also influenced by the country's growing concern for air pollution and the desire for a healthier lifestyle. As a result, there has been a shift towards electric bicycles as a convenient and environmentally-friendly alternative to traditional bikes. This trend is expected to continue as the government implements policies to promote the use of electric vehicles.

Trends in the market: In Ukraine, the Electric Bicycles Market within the Bicycles Market is experiencing a surge in demand due to increasing awareness about environmental sustainability and rising fuel prices. This trend is expected to continue as the government offers subsidies and incentives for electric bikes. Furthermore, the market is witnessing a shift towards more advanced and lightweight electric bikes, with a focus on enhancing the overall riding experience. This trend is significant as it presents opportunities for industry stakeholders to innovate and cater to evolving consumer preferences. However, it also poses challenges for traditional bicycle manufacturers who may struggle to keep up with the changing market dynamics.

Local special circumstances: In Ukraine, the Electric Bicycles market is experiencing rapid growth due to the country's favorable geography and cultural inclination towards eco-friendly transportation. The government's initiatives to promote sustainable mobility and reduce air pollution have also played a significant role in the market's expansion. Additionally, the growing urbanization and traffic congestion have further boosted the demand for electric bicycles as a convenient and cost-effective mode of transportation.

Underlying macroeconomic factors: The Electric Bicycles Market within the Bicycles Market in Ukraine is greatly influenced by macroeconomic factors such as government initiatives, consumer purchasing power, and economic stability. With increasing awareness about environmental sustainability and rising concerns over air pollution, the demand for electric bicycles has been on the rise in Ukraine. Additionally, the government's support through subsidies and tax incentives for electric bicycles is further driving market growth. Furthermore, the country's improving economic health and increasing disposable income levels are also contributing to the growing demand for electric bicycles.

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.