Europe E-Bike Market To Be Driven by Government Support And Initiatives In The Forecast Period Of 2023-2028
- March 16, 2023
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The new report by Expert Market Research titled, ‘Europe E-Bike Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe e-bike market, assessing the market based on its segments like type, drive units, battery, applications, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Europe E-Bike Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 9.06 Billion
- Forecast CAGR (2023-2028): 10%
- Forecast Market Size (2027): USD 18.96 Billion
Commuters want alternatives to crowded public transportation that are environmentally friendly, healthy, and virus-free. Electric bikes have become more popular as a result of this. To limit the spread of coronavirus, government in Europe is urging residents to ride e-bikes instead of taking crowded public transportation.
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Electric bike manufacturers are seizing this chance to increase their marketing efforts and establish revenue streams. Because of the growing awareness of climate change, governments are expected to invest in large-scale cycling infrastructure in the near future, increasing the expansion of e-bikes. A rise in air pollution levels, owing to a large number of IC-engine vehicles on the road, have compelled governments and international organisations worldwide to enact stringent emission norms to curb carbon emission levels. This is likely to provide a lucrative opportunity for major players in the European electric bike market. During the COVID-19 outbreaks in 2020, consumers keen on avoiding crowded marketplaces had shown an inclination toward e-bikes for micro-mobility.
Europe E-Bike Industry Definition and Major Segments
An electric bike is a bicycle with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Various kinds of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes that produce power to drive the bike using throttle completely.
By type, the market includes:
- Pedal Assisted
- Throttle Assisted
Based on drive units, the market is divided into:
- Mid-Drive Motors
- Hub Motors
On the basis of battery, the market is classified into:
- Lead Acid
- Lithium Ion
The major applications of the industry are:
On the basis of region, the industry is divided into:
- United Kingdom
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Europe E-Bike Market Trends
The scarcity of crude oil resources, owing to the rapid depletion of fossil fuel reserves, has raised concerns about future generations’ sustainability. Electric bikes that run on both human and electric power are proven to be an excellent solution to this problem, propelling the electric bike market forward.
The development of specialised cycling infrastructure in various nations, along with the rising number of convenience features in e-bikes, such as electric assistance system algorithms, are projected to boost sales in the electric bike market. To increase the commercial potential of e-bikes, many two-wheeler manufacturers are incorporating new battery technologies.
The growing research and development on graphene lithium nanotechnology in e-bike batteries will stridently boost the popularity of e-bikes. Furthermore, advancements in electric assistance systems will spur prospects of e-bikes in zero-emission mobility, thereby unlocking new revenue streams in the near future. The increasing integration of e-bikes with advanced drivetrains, notably braking systems, is likely to improve the durability, safety, and convenience for consumers, thereby helping manufacturers meet next-gen automotive standards.
Key Market Players
The major players in the market are Accell Group, Riese & Müller GmbH, Derby Cycle, Powabyke UK Ltd, and QWIC, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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