Report : Europe E-Bike Market Forecast to 2028 - COVID-19 Impact and Analysis by Battery Type (Lead-Acid, Lithium-Ion Polymer, and Lithium-Ion), Class Type (Class-I, Class-II, and Class III), Motor Type (Mid-Motor and Hub Motor), and Mode (Pedal Assist and Throttle)

Rapid Growth of Battery Technology Drives Market Growth

 

According to our latest market study on " Europe E-Bike Market Forecast to 2028 – COVID-19 Impact and Analysis – by Battery Type (Lead-Acid, Lithium-Ion Polymer, and Lithium-Ion), Class Type (Class-I, Class-II, and Class III), Motor Type (Mid-Motor and Hub Motor), and Mode (Pedal Assist and Throttle)" the E-Bike market is projected to reach US$ 48,810.57 million by 2028 from US$ 11,706.81 million in 2021; it is expected to grow at a CAGR of 22.6% from 2021 to 2028.

 

An electric bicycle (e-bike) comes with an integrated motor that aids its propulsion. E-bikes are broadly divided into bikes that assist the riders in pedaling (pedelecs) and bikes that accelerate through the throttle, imparting a motorcycle-style functionality. The ability to be pedaled by riders distinguishes these bikes from electric motorcycles. Giant Bicycles is one of the prominent suppliers of pedelecs in Europe, whereas Yamaha is one of the market leaders in throttle-based e-bikes. Furthermore, Aventon Bikes offers e-bike models having both assisted pedal power and throttle-based acceleration. In Europe, the e-bikes supporting up to 45 km/h are referred to as pedelecs. In 2018, Swindon Powertrain Ltd., a British manufacturer, released the world’s fastest e-bike—SWIND EB-01. This e-bike can reach up to 96 km/h with a range of up to 128 km. E-bikes are typically powered by a rechargeable battery system comprising sealed lead-acid (SLA), nickel-cadmium (NiCad), nickel-metal hydride (NiMH) or lithium-ion polymer (Li-ion). Furthermore, brushed and brushless are the most common types of motors used in e-bikes. These bikes have many social, environmental, health-related, and economic benefits; these include fast speed and operational flexibility, improved users’ fitness, reduced transport expenses, and enhanced air quality.

 

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 market players or manufacturers in the Europe e-bike market.

 

Impact of COVID-19 Pandemic on Europe E-Bike Market

 

According to data provided by Eurostat, EU’s statistical service provider, the COVID-19 pandemic-related restrictions and norms reduced household consumption by 8% across Europe, and the reduction was higher in countries that imposed severe lockdowns.

However, a surge in affinity among people toward cycling led to a remarkable rise in demand for e-bikes across Europe during the COVID-19 pandemic. As the lockdowns were lifted during the second half of 2020 and 2021, e-bikes became an attractive workout option for a considerable share of the population, especially in developed countries such as Italy and France. Furthermore, from 2021, key e-bike manufacturers in Europe started taking stringent actions to counter the impact of COVID-19 on production and related operations to address the exponentially rising demand for various commodities and goods. Aventon executed plans to redesign its factory capacity to boost the output tenfold, decrease lead time, and streamline warehouse operations.

 

The report segments the Europe e-Bike market as follows:

 

The Europe e-bike market is segmented on the basis of battery type, class type, motor type, mode, and geography. Based on battery type, the e-bike market is segmented into lead-acid, lithium-ion polymer, and lithium-ion. In 2020, the lithium-ion segment held the largest share of the in 2020. Based on class type, the e-bike market is segmented into Class-I, Class-II, and Class III. In 2020, the Class II segment held the largest share of the e-bike market. Based on motor type, the e-bike market is bifurcated into mid-motor and hub motor. The mid-motor segment held a larger market share. The European e-bike market, by mode, is segmented into pedal assist and throttle. In 2020, the throttle assist segment accounted for a larger share in the e-bike market. 

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