E-bike is also referred as electronic bicycle, which is a type of standard bicycle equipped with a battery, electric motor, and drivetrain. The e-bike offers options to move on rechargeable battery or through pedaling. E-bikes are convenient and simple to use for all age groups. Moreover, these bikes are an economical alternative to motorized vehicles as a single battery charge can cover a long distance. Electric bike (E-bike) in general is a type of transportation that has an electric motor instead of an internal combustion engine.
Europe e-bike market was valued at US$ 6,327.7 Mn in 2021 and is expected to reach US$ 13,636 Mn by 2030, at a CAGR of 10.6% between 2022 and 2030.
Europe E -bike market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 pandemic has shutdown the production of various products of e-bike in the Europe e-bike industry, mainly owing to the prolonged lockdown in major countries, globally. The production across industries has been limited due to the pandemic resulting in the shortage of raw materials for e-bike market. Suppliers of auto-parts have partially resumed manufacturing operations, as cash liquidity is posing a severe challenge for them, owing to pre-shutdown payments dry-ups. However, suppliers are making substantial moves to ramp-up their operations and purchase raw materials, though it is going to be a high pressing issue in a short-order timespan.
Europe E -bike market - Restraint
Electric bike adoption remains limited on a larger scale due in part to high purchase costs. The high ownership cost associated with e-bikes will hamper the market shares globally in the forecast period.
Among bike type, cargo bike segment held a dominant position in the Europe e -bike market in 2021
The cargo bike segment held a dominant position in the Europe e-bike market in 2021, accounting for 12.9% share.
Figure 1: Europe E-bike Market Share (%), By Bike Type, 2021
The cargo bike segment is expected to witness significant growth in the Europe e-bike market. Cargo bikes have many benefits including CO2 low or free transport and costs less to purchase and maintain than motorized cars and vans. They can deal with narrow roads and avoid congestion, need less space and have fewer access restrictions, as they can also serve pedestrian zones. For instance, in July 2021, Bosch eBike Systems announced its new energy-saving riding mode for sporty tours and tour+ in its electric bike driving system. The new Tour+ mode provides continuous support based on the rider’s effort, eliminating the need for manual switching between the common drive modes.
Europe E-bike Market Report Coverage
|Base Year:||2021||Market Size in 2021:||US$ 6,327.7 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||10.6%||2030 Value Projection:||US$ 13,636 Mn|
Accell Group, BionX, Robert Bosch GmbH, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
|Restraints & Challenges:||
Lithium-ion segment is expected hold dominant position in the market during the forecast period
On the basis of battery type, the Europe e-bike market is segmented into lead acid, nickel-cadmium, nickel-metal hydride, and lithium-ion. The lithium-ion segment is expected to hold largest market share in 2021, owing to several benefits offered by this batteries. For instance, lithium-ion batteries offer more power to weight ratio, as compared with other batteries, are eco-friendly, and have better life cycle.
Figure 2: Europe E-bike Market Value (US$ Mn) Analysis and Forecast, 2017 - 2030
Major players operating in the Europe e-bike market include Accell Group, BionX, Robert Bosch GmbH, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
Frequently Asked Questions