Electric Bikesharing is fastest growing segment fueling the growth of Europe E-bike Market
Market Overview:
Europe E-bike offers advantages of faster, eco-friendly and comfortable commute. It helps reduce traffic congestion and carbon emission in cities.
Market key trends:
One of the key trends in the Europe E-bike market is the rise in electric bikesharing programs across various cities. Major cities in Europe have implemented electric bike sharing programs to provide an affordable, efficient and sustainable transportation option to residents and tourists. Governments in several countries are encouraging the use of shared electric mobility to reduce congestion and pollution. For instance, electric bikeshares have witnessed significant growth in cities like Paris, Brussels, Amsterdam, Berlin and Barcelona over the past few years. The trend is expected to continue during the forecast period as more cities adopt shared electric mobility solutions.
Segment Analysis
The Europe e-bike market is fragmented based on propulsion type. Within propulsion type, pedal-assisted e-bike segment accounts for the largest market share. Pedal-assisted e-bikes are more affordable as compared to throttle-assisted e-bikes. Moreover, pedal-assisted e-bikes provide exercise and fitness benefits to users while riding. This makes pedal-assisted e-bikes ideal for last-mile commuting as well as recreational riding for fitness. Due to their affordability and additional health benefits, pedal-assisted e-bikes dominate the Europe e-bike market.
Key Takeaways
The Global Europe E-Bike Market Share is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing concern for environment and cost of transportation.
Regional analysis - Germany dominates the Europe e-bike market, accounting for over 30% of the market share due to the favorable government policies for promoting electric mobility. The Netherlands holds the second largest share owing to well-developed cycling infrastructure and incentives for purchasing e-bikes.
Key players operating in the Europe e-bike market are 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. Accell Group holds the largest market share due to its strong brand portfolio and wide distribution network across Europe.
The global Europe e-bike market size is expected to reach US$ 7740.27 Mn by 2023. The market is projected to grow substantially, registering a CAGR of 10% during the forecast period of 2023 to 2030.
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