New York, May 14, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe E-bike Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06030499/?utm_source=GNW
– Germany dominated the European market, and it held nearly 38% of the market share in 2019. It was followed by the Netherlands and France, with both of them capturing more than 11% share each, of the total market share. The European Commission’s anti-dumping and anti-subsidy measures against Chinese e-bikes has helped the market grow considerably from 2018.
– Some of the major players in the e-bike market include Accell Group, Riese & Muller, and Fritzmeier Systems GmbH & Co. KG. The players have been consistently improving their e-bikes with innovative design structures and driving units (i.e., motors, batteries, and gear mechanism).
– However, due to the current COVID-19 pandemic looming over major European nations, the European e-bike market is expected to witness a downward trend. People may be discouraged to own an e-bike, at least till the near future, which may even see some Chinese e-bike manufacturers or suppliers go out of business due to the slump in the demand.
Key Market Trends
Cargo E-Bike Segment Poised to Grow at a High Rate
The cargo segment of the European e-bike market is expected to reach USD 0.61 billion by 2025, projecting a CAGR of 16.72% during the forecast period.
In the urban areas, the wide range of logistic deliveries consists of small shipments over short distances. Research commissioned by the European Union revealed that 25% of all goods and 50% of all light deliveries in urban environments could be fulfilled by cargo bikes. Additionally, the usage of cargo e-bikes was suggested to minimize adverse ecological, social, and economic effects.
The recent trends (as the demand for transport pertaining to e-commerce is increasing) reinforce the positive outlook for the electric cargo bikes market. For instance, companies, like Amazon, Walmart, and IKEA, have now started using cargo e-bikes for deliveries.
DB Schenker, a logistics company, based out of Europe, has been using e-bikes in the Hamburg region to carry shipments between different locations. The e-bikes used can carry a payload of around 250 kilograms. Also, in smooth flowing traffic conditions, these vehicles are capable of traveling at a speed of 25 kilometers per hour. The e-bikes also feature swappable batteries that help increase the range. DHL, another major logistics firm, introduced cargo bikes in its services for a more sustainable model for urban deliveries.
But cargo e-bikes are on the pricier side (some can cost nearly USD 8,000), which may defer individuals from procuring them, thus, hindering the market growth to an extent.
Germany is Expected to be the Largest Market in Europe
The German e-bike market is expected to reach USD 5.84 billion by 2025, projecting a CAGR 19.7% during the forecast period.
A total of 4.31 million bicycles were sold in the country in 2019, of which nearly 31.5% were electric (i.e., 1.36 million e-bikes). This was a steep increase, as compared to around 980,000 bikes in 2018. E-city/urban, e-trekking, and e-MTB bikes were the most preferred categories, accounting for nearly 94% of all the e-bike sales in the country.
E-bikes made in Germany continue to see high demand, as the country’s bike manufacturers exported nearly 440,000 e-bikes in 2018, which increased by 51% when compared to the export total of 2017.
Some of the major factors driving the sales in the e-bike market are the innovative features of the products, fully integrated batteries and drives, appealing designs, and the use of high-quality materials.
To meet the needs of the logistics businesses, players, like VW and Gazelle, introduced new e-cargo bikes at the IAA (Internationale Automobil-Ausstellung) Commercial Vehicles Show in 2018, at Hannover, Germany. Gazelle, one of the subsidiaries of Pon Bike Group, developed a cargo e-bike, Gazell D10 model, with joint-partners, namely, Aluca and DOCKR (mobility-as-a-service startup).
The European market for e-bikes is an extremely fragmented one, with major players, like Giant Bicycles, Accell Group, Riese & Muller, and M1 Sporttechnik, holding less than 20% of the total market share. New-entrants and startups backed by funding from various venture capitalists are also entering this market, which is making it even more competitive.
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