Europe E-bike Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe E-bike Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The European e-bike market was valued at USD 8.01 billion in 2020, and it is expected to reach USD 16.58 billion by 2026, projecting a CAGR of 12.97% during the forecast period.

The demand for e-bikes increased after the outbreak of pandemic COVID-19, as the consumer preference changed from public transport towards personal vehicles and e-bikes came out as an economical option for people living in the region, which boosted the demand during the year.

Apart from the increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period.

Germany is expected to dominate the European market with nearly 38% market share in 2019. It is followed by the Netherlands and France, with both of them capturing more than 11% share each, of the total European Market. The European Commission's anti-dumping and anti-subsidy measures against Chinese E-Bikes has helped the market grow considerably from 2018.

Key Market TrendsIncreased Adoption of E-Bikes in Various Sectors

Apart from being viewed just as cleaner and greener mode of transport for short distance, e-bikes are finding varied uses across Europe in different sectors and applications.For instance,

• Some tourism companies are exclusively offering packages termed as ‘Cycling Holidays’. As Europe is home to numerous travel destinations, every year millions of visitors flock to the country during holiday seasons. Even tourists are wooed by this new and different experience and are opting for e-bikes to tour prominent sites as well as the country-side in some cases.
• In 2018, UPS (United Parcel Service) added 34 cargo e-bikes to its European fleet of logistics. Of which, 23 have already been deployed in the German cities of Hamburg, Munich, and Stuttgart. Remaining 11 cargo e-bike are to be deployed in France, the Netherlands, and Belgium. Uber also announced to expand its e-bike rental service in Europe, and started offering initially in Berlin, Germany, and other European cities in the coming years.

Other applications also include Croatia using e-bikes for postal delivery services. The bikes employed can reach a speed of 25Kmph and have a range of 60Kms. The aforementioned adoption of e-bikes across multiple sectors, is also expected to drive the market over the forecast period.

Germany is Expected to be the Largest Market in Europe

The German e-bike market was valued at USD 4.18 billion in 2020, A total of 4.31 million bicycles were sold in the country in 2019, of which nearly 31.5% were electric (i.e., 1.36 million e-bikes). This was a steep increase, as compared to around 980,000 bikes in 2018. E-city/urban, e-trekking, and e-MTB bikes were the most preferred categories, accounting for nearly 94% of all the e-bike sales in the country.

E-bikes made in Germany continue to see high demand, as the country’s bike manufacturers exported nearly 440,000 e-bikes in 2018, which increased by 51% when compared to the export total of 2017.

Some of the major factors driving the sales in the e-bike market are the innovative features of the products, fully integrated batteries and drives, appealing designs, and the use of high-quality materials.

To meet the needs of the logistics businesses, players, like VW and Gazelle, introduced new e-cargo bikes at the IAA (Internationale Automobil-Ausstellung) Commercial Vehicles Show in 2018, at Hannover, Germany.

Gazelle, one of the subsidiaries of Pon Bike Group, developed a cargo e-bike, Gazell D10 model, with joint-partners, namely, Aluca and DOCKR (mobility-as-a-service startup).

Competitive Landscape

The European market for e-bikes is an extremely fragmented one, with major players, like Giant Bicycles, Accell Group, Riese & Muller, and M1 Sporttechnik, holding less than 20% of the total market share.

New companies, which were earlier not part of the European market, are also researching this market and are planning to tap the fragmented sector. For instance, India-based Hero Cycles Ltd acquired a stake in the German e-bike manufacturer, HNF Nicolai. The company aims to enter the European market through this acquisition.

Component manufacturers are expanding their businesses by collaborating with existing bicycle manufacturers. Furthermore, some major component manufacturers, such as Shimano, also sell CBU (Completely Built Units) of e-bikes.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Albemarle Corporation
Alfa Aesar
American Elements
FMC Corporation
GFS Chemicals, Inc
Matrix Guangzhou Chemicals Corp
Nouryon
Reaxis Inc
Sigma
Aldrich Co

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