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Europe E-Bike Market to Grow at a CAGR of 13.10% in the Forecast Period of 2022-2027, Aided by the Government Support and Initiatives

According to a new report by EMR titled, ‘Europe E-Bike Market Report and Forecast 2022-2027’, the Europe e-bike industry reached a value of about USD 9.06 billion in 2021. The industry is further expected to grow at a CAGR of 13.10% in the forecast period of 2022-2027 to reach a value of nearly USD 18.96 billion by 2027.

Several countries are improving urban transportation and logistics' environmental and economic sustainability. This lays a crucial foundation for electric bike manufacturers to expand their footprints. Thus, the introduction of e-bikes has enabled commuters to opt for an eco-friendly yet affordable mobility solution, resulting in growth for the e-bike market. 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. Electric bikes have also shown to be a potential form of logistics for crucial commodities during natural disasters, as government disaster relief agencies have witnessed. Furthermore, E-mobility has risen to prominence due to the growing trend of sustainable tourism. In recent months, as economic activity had picked up with the relaxation of COVID-19 limitations in several countries, the need for low-carbon micro-mobility for covering crucial short distances has increased. The prospects for e-bikes have improved as a result of this. Several tourists visiting developed-country cities have expressed an interest in e-bikes. The expanding footprint of two-wheelers' sales in developing economies is also likely to generate substantial opportunities in the electric bike market.

Many product developments are initiated by the companies, which also accelerate the growth of the e-bike market. For example, in July 2018, Accell Group (OTCMKTS: ACGPF) acquired Velosophy. Velosophy is a Dutch company focusing on e-cargo bike solutions. This acquisition allowed Accell group to increase the production of cargo bikes and increased the company's product portfolio and customer base.

Market Analysis by Type, Drive Units, Battery, Applications, and Countries:

  • Based on type, the market is categorised into pedal-assisted and throttle-assisted.
  • The market is divided into mid-drive motors and hub motors based on drive units.
  • Based on battery, the market is classified into lead-acid and lithium-ion, among others.
  • The major applications of the industry are urban, tracking, and cargo, among others.
  • The major countries in the sector are Germany, the United Kingdom, France, Italy, and Spain, among others.

Key Findings of the Report:

  • Inflating income levels is one of the factors propelling market growth.
  • The growing research and development on graphene lithium nanotechnology in e-bike batteries will boost the popularity of e-bikes.
  • Advancements in electric assistance systems will spur prospects of e-bikes in zero-emission mobility, thereby unlocking new revenue streams in the near future.
  • Improvement in bicycling infrastructure and battery technology is expected to offer lucrative opportunities for the electric bike market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe e-bike market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for type, drive units, battery, applications, and major countries of e-bike.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe e-bike industry are Accell Group, Riese & Müller GmbH, Derby Cycle, Powabyke UK Ltd, and QWIC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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