According to a new report published by UnivDatos Markets Insights, the Europe e-bike Market was valued at more than USD 3 billion in 2020 and is expected to grow at a CAGR of around 11% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Europe e-bike Market was valued at more than USD 3 billion in 2020 and is expected to grow at a CAGR of around 11% from 2022-2028. The analysis has been segmented into Propulsion (Pedal-Assisted and Throttle Assisted); Application (Urban, Tracking, Cargo, and Others); Battery (Lead-Acid, Lithium-Ion, and Others); Motor (Hub Motor and Mid-Motor); Country.
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The Europe e-bike market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Europe e-bike market. The Europe e-bike market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Europe e-bike market at the country levels.
Market Overview
The Europe E-bike Market is expected to grow at a steady rate of around 11% in the forecast period. An electric bike or e-bike is a bicycle assisted with an electric motor to assist while pedaling. The motor will get its power from a rechargeable battery mounted on the bike. Moreover, electric bike systems offer several modes to choose from, allowing you to balance the amount of power supplied through the pedals with range and battery life. Factors such as pollution-free modes of transportation, increased muscle strength & flexibility and decreased body fat levels, are driving the growth of the market. In addition, an increasing number of startups in this field and the expansion of their presence in the European region are also some of the prominent factors contributing to the growth of the Europe e-bike market. For instance, in 2022, Electric bike startup EMotorad said on Monday it is expanding its presence to Europe and will target five countries in the region.
Some of the major players operating in the market include Accell Group N.V., BMZ GmbH, Brose Fahrzeugteile GmbH & Co. KG, Derby Cycle AG, Tianjin Fuji-ta Group, Giant Manufacturing Co Ltd, Tianjin Golden Wheel Bicycle Group Co. Ltd, Hero Electric, Jiangsu Xinri E-vehicle Co. Ltd, and Powabyke UK Ltd.
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COVID-19 Impact
The COVID-19 epidemic has halted the production of several e-bike items in the Europe e-bike market, mostly because of the extended lockdown in important countries worldwide. The pandemic has reduced production across industries, which has caused a lack of raw materials for the e-bike market. Due to the enormous problem that financial liquidity is posing to them due to the dry-up of pre-shutdown payments, suppliers of auto parts have only partially resumed manufacturing operations.
The Europe e-bike market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on propulsion type, the market is segmented into pedal-assisted and throttle assisted. The pedal-assisted segment is to witness lucrative growth in the forecast period. The pedal-assisted bike gives the features of cycling as well as electric assistance for farther cruising. Further, riding a pedal assist e-Bike is a great form of cardiovascular fitness, reducing stress on joints, and allowing the rider to effortlessly ride along at the desired speed which is driving the growth of the segment.
· On the basis of application, the market is categorized into urban, tracking, cargo and others. Among these, cargo to hold a significant share of the market in 2020 as compared to motorized automobiles and vans, cargo bikes provide many advantages, including low- or no-CO2 transportation. They are also less expensive to buy and maintain. Moreover, they require less space, have fewer access limitations, can handle narrow roads, avoid congestion and can also service pedestrian zones which in turn is driving the market of the segment.
· Based on battery, the Europe e-bike market has been classified into lead-acid, lithium-ion and others. The lithium-ion category is to witness higher adoption during the forecast period owing to its high energy density, lightweight and compact, low maintenance, longer life and more stability. Furthermore, lithium-ion batteries offer more power-to-weight ratio, as compared with other batteries, are eco-friendly, and have a better life cycle. Thereby, boosting the market for this segment.
· Based on the motor, the Europe e-bike market has been classified into hub motor and mid-motor. The mid-motor segment is to hold a significant share of the market in the forecast period owing to its maximum suitability design for pedelec e-bikes and pedal-assisted e-bikes. Moreover, the growing reach of the government to secure the environment is also a developing factor for the growth of the market.
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Europe e-bike Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the Europe e-bike market industry, the market is analyzed based on its presence in European countries such as Germany, U.K., France, Spain, Italy and the Rest of Europe. Germany is anticipated to grow at a substantial CAGR during the forecast period. Due to rising environmental awareness, there is a growing preference for electric bikes such as e-MTBs, which is accelerating market growth in the country. Further, Germany is one of the biggest producers and exporters of e-bikes. As a result, the country's large manufacturing of e-mobility solutions and the presence of key corporations are fueling the market in Germany.
The major players targeting the market include
· Accell Group N.V.
· BMZ GmbH
· Brose Fahrzeugteile GmbH & Co. KG
· Derby Cycle AG
· Tianjin Fuji-ta Group
· Giant Manufacturing Co Ltd
· Tianjin Golden Wheel Bicycle Group Co. Ltd
· Hero Electric
· Jiangsu Xinri E-vehicle Co. Ltd
· Powabyke UK Ltd.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Europe e-bike market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Europe e-bike market?
• Which factors are influencing the Europe e-bike market over the forecast period?
• What are the challenges, threats, and risks in the Europe e-bike market?
• Which factors are propelling and restraining the Europe e-bike market?
• What will be the regional market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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