Europe: E-bike market size forecast 2015-2029

Europe's electric bicycle market is expected to grow significantly, with projections indicating a 22 percent increase in sales value from 2023 to 2029. The market value is expected to reach nearly 21 billion euros by 2028, reflecting the increasing popularity of e-bikes across the continent. This growth comes despite a recent dip in e-bike prices, which fell to an average of 2,350 euros in 2023 after years of steady increases.

Germany leads e-bike sales in Europe

Germany stands out as the largest market for electric bicycles in Europe, with 2.1 million new e-bikes sold in 2023. This figure is nearly three times higher than sales in France, the second-largest market. The Netherlands, known for its strong cycling culture, ranks third in e-bike sales despite its smaller population. In Germany, e-bikes now make up 53 percent of all new bike sales, a significant increase from 39 percent in 2020 during the pandemic bicycle boom.

E-bike imports to the EU

Taiwan constituted the leading supplier of e-bikes to the European Union in 2023, providing nearly 403,000 units, followed by Vietnam with around 192,000 e-bikes. Regular bicycles, meanwhile, are primarily imported from Cambodia and China. The two countries supplied around 819,000 and 527,000 bicycles to the EU in 2023, respectively. The different primary import origins of electric and non-electric bicycles can at least in part be attributed to the EU's anti-dumping duties affecting the cost of importing e-bikes to the EU.