europe e-bike Market

The Europe e-Bike market is expected to grow from US$ 11,706.81 million in 2021 to US$ 48,810.57 million by 2028; it is estimated to grow at a CAGR of 22.6% from 2021 to 2028.

In Europe, policymakers are increasingly directing their attention towards transforming cities under their jurisdiction into "Cycling Cities" due to daily traffic congestion caused by rising vehicle numbers on the road. The importance of cycling in overall city mobility strategies has become a key consideration in creating an efficient ecosystem for cyclists. To accelerate the shift towards zero-emissions vehicles, local, regional, and national authorities in EU member states are offering incentives to encourage the purchase and use of EVs, including vans, buses, bicycles, and motorcycles. The 2017 EU Cycling Strategy has set four primary objectives for promoting cycling in mobility systems, placing equal emphasis on each objective. The strategy aims to increase the use of cycles by 50% and reduce the rates of fatalities and serious injuries among cyclists by 50% between 2020-2030. Moreover, the 2017 EU Cycling Strategy calls for increasing the EU's investments in cycling to around US$ 3.4 billion during 2021-2027 and about US$ 6.8 billion from 2028 to 2034. The implementation of such frameworks and strategies by governments is driving the growth of the e-bike market in Europe.

E-Bike Market - COVID-19 Impact
The COVID-19 pandemic caused a significant reduction in e-bike production, resulting in a temporary decline in market performance and slowdown between 2020 and 2021. Nonetheless, the reopening of manufacturing facilities is anticipated to bring stability to the e-bike market in Europe.

The sales of e-bikes in Italy have seen a significant boost due to the COVID-19 pandemic, with a remarkable increase of 60% in 2020 as compared to the previous year. According to Milan's deputy mayor for Urban Planning, Green Areas, and Agriculture, the number of daily cyclists on the main shopping street has surged from 1000 to 7000 after the pandemic peak.

Aventon; Giant Bicycles; Haibike; Merida Bikes; Accell Group; Robert Bosch GmbH; Shimano Inc.; Specialized Bicycle Components, Inc.; Trek Bicycle Corporation; and Yamaha Motor Europe N.V. are among the key companies operating in the Europe e-bike market. The report comprises secondary research work on other companies that hold a significant market share.

The research for the Europe e-Bike market size involved an extensive use of primary and secondary sources. The secondary sources were used to obtain both qualitative and quantitative information related to the market from both internal and external sources. The aim of the process was to gather an overview and forecast for the Europe e-Bike market, including all the segments related to the region. Additionally, the research involved conducting multiple primary interviews with industry participants and broadcasters to validate the data and obtain further analytical insights into the topic. Industry experts, including VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe e-Bike market were among the participants of the research process.