Europe E-Bike Market Outlook, 2027

An e-bike refers to bicycles with motor and rechargeable batteries that assist the rider and alleviate some of the pressure of pedaling efforts. E-bikes enable users to cycle further and more often without getting tired as compared to conventional bicycles. It is also helpful to users with limited mobility and offers a cheaper alternative to car travel. E-bike manufacturers are focusing on improving the entire user interface by creating and developing e-bikes that can interact with the riders' smart-phones and deliver real-time information on the speed and battery level. The market for electric bikes in Europe is expected to witness significant growth during the forecast period with an increasing number of companies entering the market and increased demand for e-bikes in last-mile deliveries. Some of the major reasons considered for adopting e-bikes are the health benefits, environmental benefits, reduction in expenditure, avoidance of traffic congestion, and the increase in demand for e-bikes as sports equipment among youth. E-bikes in Germany are the preferred mode of mobility for sports and leisure. According to the report, “Europe Electric Bicycle (E-Bikes) Market Outlook, 2027” published by Bonafide research, the market had around USD 6.5 Billion market size which is projected to expand with more than 15% CAGR during 2022-2027. Globally, Europe held to the second position, following Asia. The introduction of e-cycles in Cycle tourism in Europe is expected to be a major market attraction in the coming period. Europe being home to a number of travel destinations has been successful in wooing the tourist with the different experience of e-bikes. In the region, the electric bike industry is not only aiding the environment but is also providing economical support by generating jobs. It is said that the production of 1000 electric bicycles creates 4-5 jobs, whereas the production of the standard bicycle creates merely 2-3 jobs. Europe represents one of the largest markets for e-bikes across the globe. The market is primarily driven by the rising concerns regarding air pollution and environmental degradation. This has increased the demand for e-bikes in countries like Germany, Netherland and Belgium. These bikes are also used by older adults for recreational and shopping purposes. E-bikes also increase physical fitness by improving health, combating weight gain issues, and enhancing aerobic capacity, thereby offering a potential alternative to conventional cycling. Moreover, the key players in the European region are providing an extensive range of advanced e-bikes, such as hydrogen-powered bikes and Smart E-Bike Monitoring System (SEMS). The year 2019-2020, has been a positive phase for the Europe Bicycle Industry with a continuous boom in e-bikes sales. In the region, the market is led by pedal-assisted electric cycles which accounted for more than 70% of the market share in 2021. Countries like Italy, have recently introduced an incentive for electric bikes in the aftermath of the COVID-19 crisis and showing the huge potential in increasing e-bike sales. The factors like innovative features, fully integrated batteries and drives, appealing designs, and the use of high-quality materials are driving the market. Governments of European countries such as Germany , Netherlands, and Belgium are taking initiatives to reduce the carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles, owing to increase in awareness toward the hazardous effects of using vehicles running on fossil fuels. Electric bicycles, scooters, and motorcycles have gained significant attention from various governments as reliable and efficient types of light motor vehicles (LMVs), which help in reducing the carbon footprint. Furthermore, to encourage the use of these environment-friendly vehicles, governments around the world are supporting for the purchase of electric mobility, in terms of tax credits and incentives. Furthermore, infrastructure facilities such as guarded bicycle parking facilities, construction of more bicycle (express) routes, and establishment of battery charging stations in many countries by the governments significantly boost the adoption of electric bikes by users, thereby propelling growth of the Europe e-bike market. In a few of the European countries, the electric bike has now surpassed half of all bike sales as the mobility opportunity is realized. Apart from this, the region’s increasing preference towards recreational and adventure activities like trekking among different age groups is expected to aid the market growth in the coming future. The evolution of logistic & e-bike rental services in the region is expected to be driving the market growth. The cargo application segment is expected to be growing through a prominent market share by the end of 2027. The other applications of electric bicycles in the region include Croatia using e-bikes for postal delivery services. These bikes can reach a speed of 25Kmph and have a range of 60Kms. The adoption of e-bikes across multiple sectors is also expected to drive the market over the forecast period. Apart from the increasing consumer preference toward recreational and adventure activities, the rising adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is also expected to drive the market studied during the forecast period. Further, Germany is expected to play a key role in the European e-bike market, followed by the Netherlands and France, owing to the growing number of riders and users of eco-friendly transportation for daily commuting. Moreover, the presence of key players and their active engagement in the market through product launches, strategic partnerships, etc., are expected to further stimulate demand in these regions. The electric bicycle is likely to grow in the region which is likely to be backed by the fall in the production costs and the improvising of the charging infrastructure across the region. The new emission regulation that is to be enforced since 2021 is to be one of the significant reasons for growth. New companies, which were earlier not in the European market, are now targeting this region. For instance, India-based Hero Cycles Ltd acquired a stake in the German e-bike manufacturer, HNF Nicolai, intending to enter the European market through this acquisition. Apart from being viewed just as a cleaner and greener mode of transport for short distances, e-bikes are finding varied uses across Europe in different sectors and applications. Europe is home to numerous travel destinations. To encourage the adoption of e-bikes by tourists due to its benefits, some tourism companies are exclusively offering packages termed as ‘Cycling Holidays'. In addition to that, drug stores and other emergency-related services have also started deploying e-bikes on sub-urban lanes of Europe to deliver essential services and items over short distances. In this way, they are able to avoid traffic situations in some densely populated areas and attend to the needy in a quicker manner. Moreover, in August 2019, a study pertaining to the physical exercise offered by e-bikes, which researched more than 10,000 adults across seven European countries, was published in the Transportation Research Interdisciplinary Perspectives journal. It also found that e-bike riders ended up getting more exercise than pedal bike cyclists as they spend more time on their e-bikes. Taking this as perspective, some wellness and fitness centers have also started introducing exercise programs involving e-bikes rather than the traditional cycling equipment used indoors. Other applications also include Croatia using e-bikes for postal delivery services. Thus, these aforementioned factors indicate the growing adoption of e-bikes across multiple sectors. In addition, the presence of key players like VW and Gazelle also to further augment the growth of the e-bikes market. Innovative solutions and offers designed by players operating across Germany are anticipated to further enhance the penetration rate of e-bikes across Germany. For instance, in August 2021, a German startup, Dance, launched its subscription service in its hometown of Berlin. For a flat monthly fee of EUR 79, users get a custom-designed electric bike and access to an on-demand repair and maintenance service. Apart from these, product launches and delivery of new e-bike models are expected to further support demand in the market during the forecast period. Recent Developments: -In January 2022, TVS Motor Company announced that it had completed the successful acquisition of a 75% stake in the electric bike manufacturer Swiss E-Mobility Group (SEMG). SEMG is a market-leading provider of e-mobility solutions within the DACH region, operating the largest e-bike retail chain M-way in Switzerland. The acquisition is expected to provide a boost to TVS expansion in Europe through a portfolio of brands that also include Norton Motorcycles and EGO Movement, which were recently acquired. -In October 2021, Amsterdam-based micro-mobility startup Dott announced its plans to launch a new e-bike in Europe. The company further stated that a fleet of around 10,000 e-bikes would be made available initially in Paris, followed by Rome, Brussels, and London. -In October 2021, Swedish automaker RGNT launched its No. 1 Classic motorbike in Europe. The two-wheeler has a retro-styled look and gets a digital instrument cluster with support for navigation and an all-LED lighting setup. • In June 2021, Hero Cycles launched the first Made-in-India electric bike in Germany. The rising demand for e-bikes in the European market led Hero Cycles to deliver its first batch of made-in-India e-bikes (200 e-bikes) dubbed Hero Lectro to Germany as it targets the EU market. The company also partnered with Fast Despatch Logistics and Turtle Mobility for deploying last-mile delivery cargo e-bikes. -In October 2020, Powabyke UK Ltd secured the Italian brand's sole UK distribution rights, MBM, for its entire range of bikes and e-bikes. The stock arrived in bike dealerships around the country. -In January 2020, 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. -In January 2020, VanMoof launched the bike industry’s first augmented reality purchase experience. The new AR tool, which is integrated into Vanmoof’s website and online ads, allows users to place a virtual electrified e-bike and explore the high-tech features without visiting a VanMoof brand store and waiting for home delivery. Government Initiatives: -The European Commission released a set of proposals to implement the European Green Deal in a package called “ Fit For 55” containing a raft of legislative and policy measures aimed at reducing the EU’s carbon emissions by 55% by 2030 .This will create demand for e-bikes as this plan is going to support by investing in cycling and cycling infrastructure , which flows straight through to decarbonise emissions and create additional jobs – July 2021 -The European Parliament and Council have reached a provisional agreement to exclude e-bikes from insurance obligations which results in no mandatory insurance and plate for e-bikes. This provisional agreement runs completely separate from the recommendations of the Transport Research Laboratory (TRL) – June 2021 -The European Commission published its proposal for a new EU MAchinery Legislation to exclude e-bikes from the scope of the new legislation all vehicles which have as their only objective of transporting goods or persons, thereby creating uncertainty in the e-bike industry – May 2021 -The European Commission published a proposal for new EU batteries regulations that e-bike batteries will be classified as portable batteries, similar to other batteries that are frequently handled by consumers and a new sub-category is proposed for batteries of ‘light means of transport’. They also introduces a double legislation on restriction of hazardous substances on batteries under REACH regulation as well as the RoHS Directive EU – May 2021 -The European government is completely shifting its transportation sector to electric by 2030. Due to eradication of carbon emissions, the government is pushing to adopt EV in Europe. The high electric powered vehicles are rapidly adopted and expected to be in trend during the forecast period. The high electric power vehicles offer more than 30KW & growth in production, marketing of e-bikes will create demand in the European Market. Covid-19 Impacts: The COVID-19 pandemic initially disrupted the growth of the e-bike market. Post-pandemic, consumers started inclining toward e-bikes across Europe as the pandemic elevated the necessity of personal commutation over public transportation. During the historical period, due to the surge of the COVID-19 pandemic in 2020 and the resurgence of COVID-19 infections in 2021 across Europe, consumers preferred e-bikes as an easy, cheap, and safer way to commute, thereby augmenting the market growth. The use of e-bike during the pandemic also helped mitigate heightened concerns regarding public transportation and mobility sharing, consequently boosting the market growth. Major companies present in the market Accell Group, Brompton Bicycle Limited, Giant Manufacturing Co. Limited, Merida Industry Co. Limited, Pedego Electric Bikes, PON Bikes, Rad Power Bikes LLC, Riese & Müller GmbH, Specialized Bicycle Components, Inc., Trek Bicycle, Yadea Group Holdings Ltd Considered in this report • Geography: Europe • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Europe Electric Bicycle (E-Bikes) market with its value and forecast along with its segments • Country-wise toy market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • UK • France • Italy • Germany • Spain Segment covered in the report By Propulsion Type •Pedal Assist • Throttle By Class Type •Class 1: Pedal Assist •Class 2: Throttle On Demand •Class 3: Speed Pedelec By Battery Type •Lithium-Ion Battery •Lead-Acid Battery •Others By Application •City/Urban •Trekking (E-mountain Bikes/e-MTB) •Cargo •Others (Speed e-bikes, Foldable, Fat Bicycle) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing the government- generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have verified the details obtained from secondary sources. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to electric bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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