by The Europe e-bike market is witnessing significant growth on account of technological advancements and increasing adoption of cycling as an eco-friendly mobility solution. E-bikes provide an assist of up to 25kmph and do not require a driver’s license, making them an affordable and convenient alternative to cars for short-distance commutes. Key manufacturers are focusing on lithium-ion battery powered bikes with pedal-assist that offer enhanced performance, convenience and comfort.
Europe E-bike Market is estimated to be valued at US$ 8916.8 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Europe e-bike market include Intertek Group Plc, SGS SA, Cenergy International Services, L.L.C., UL International Gmbh, Mistras Group, James Fisher and Sons plc, Global Wind Service, Force Technology, Vestas, and Siemens Wind Power GmbH & Co.KG.
Global expansion: Leading Europe E-bike Market Size manufacturers are expanding their global footprint through strategic collaborations and acquisitions. Further, supportive government policies and initiatives focusing on developing EV charging infrastructure are boosting international sales.
Growing demand: Rising fuel costs, traffic congestions in cities, and increasing health consciousness are fueling the demand for eco-friendly commuting solutions in Europe. E-bikes provide a low-cost alternative to private vehicles for covering short urban commutes.
Market key trends
Rise of connected e-bikes: Europe E-bike Market Size manufacturers are increasingly offering integrated connectivity features such as Bluetooth, GPS, and accident alarms. This allows users to remotely monitor battery status, geo-tag routes, and track bike location. Connected platforms also enable over-the-air software updates. The addition of advanced technologies is expected to increase e-bikes’ popularity amongst health-conscious consumers.
Porter’s Analysis
Threat of new entrants: New entrants face relatively high barriers to enter the e-bike market due to the necessity of having to invest in manufacturing capability, distribution networks and branding.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes like conventional bicycles and electric motorcycles. However, e-bikes offer convenience of pedal assist which attracts more buyers.
Bargaining power of suppliers: Component suppliers like battery, motor and other parts suppliers have low to moderate bargaining power given the availability of different component manufacturers globally.
Threat of new substitutes: Substitutes like conventional bicycles and electric motorcycles pose threat. However, e-bikes are more convenient and fast growing which is reducing impact of substitutes.
Competitive rivalry: The market sees intense competition with presence of global as well as local manufacturers. Manufacturers compete on the basis of pricing, quality, specifications and aftersales.
Geographical Regions
Western Europe holds around half of the total Europe e-bike market led by Germany, Netherlands, and Italy. These countries have supportive infrastructure and growing awareness about eco-friendly transportation.
Central and Eastern Europe is currently the fastest growing region in Europe due to improving living standards, rising environmental concerns and supportive government initiatives for non-motorized transportation. Countries like Poland, Czech Republic, Austria are witnessing strong double digit growth in e-bike sales.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
