Market Trends of australia e-bike Industry
Australia's E-Bike adoption rates show steady growth, indicating an increasing market presence and consumer interest.
- In Australia, e-bike sales are increasing at a rapid pace. The popularity of e-bikes for short distances and leisure activities has significantly increased in recent years. Since they do not require gasoline or other petroleum-based fuels, e-bikes are affordable and accessible, as well as environmentally benign. These vehicles are intended to fit into tight spaces and readily maneuver through congested areas. The rising number of trips per vehicle and supporting rules are likely to aid the market's growth during the forecast period.
- As per the Australian Vehicle Standards, e-bikes can be ridden on the road if the motor does not provide more than 250 watts of maximum continuous power and if the vehicle cannot travel more than 25 km/h with throttle assistance. Electric bike manufacturers are now targeting the Australian market, so supply and options are also expected to increase. The development of premium folding e-bikes and the introduction of high-tech electric bikes with smartphone integration are two emerging trends that are expected to directly influence the dynamics of the electric bicycle industry in Australia and drive the market during the forecast period.
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Australia exhibits a gradual rise in the population commuting 5-15 km daily, reflecting evolving commuting distances.
- The demand for bicycles has been increasing gradually across Australia. Public transportation is the country's most popular mode of transportation, and comparatively, fewer people choose to commute by bicycle. Commuters using bicycles to travel between 5 and 15 kilometers increased in 2020 over 2019 as more people began to exercise and use bicycles for nearby areas, such as markets. However, commuter travel between 5 and 15 kilometers is still relatively low compared to other modes of transportation in Australia.
- The COVID-19 pandemic significantly impacted the Australian bicycle market as more people opted to bike or walk to work rather than use public transportation to maintain social distancing. Following the pandemic's impacts, fewer individuals took public transit, which increased the number of daily bicycle commuters in 2021 compared to 2020. The advancements in e-bikes and the introduction of cutting-edge features like longer battery lives encouraged more people to opt for bicycles, which resulted in a rise in commuters traveling between 5 and 15 kilometers on bicycles in Australia in 2021.
- For routes between 5 and 15 kilometers, people now commute by bicycle, including trips to their places of employment, business, and markets. The number of persons using bicycles for transportation to work increased in 2022 over 2021. Development in bicycle infrastructure in the country is expected to contribute to the growing number of bicycle commuters in Australia.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Australia's bicycle sales surge in 2020, then stabilize, indicating a market that responded strongly to short-term demand.
- Australia's inflation rates peak in 2022, followed by a trend towards normalization, indicating a recovering economy.
- Australia's e-bike battery prices are decreasing, reflecting market maturity and increased consumer acceptance.
- Australia's consistent increase in dedicated bicycle lanes indicates a commitment to promoting cycling as a healthy and sustainable transportation option.
- Australia's E-bike charging time is consistently reducing, indicating a growing emphasis on efficient charging solutions and sustainable transportation.
- Australia's GDP per capita indicates a resilient economy with sustained growth and high living standards.
- Australia's bicycle rental market shows robust growth post-2020, indicating strong market presence and sustained consumer demand.
- Australia's hyper-local delivery sector is witnessing growth, indicating an evolving market trend towards localized online shopping.
- Australia's trekker numbers are steadily increasing, indicating a growing interest in the country's unique landscapes and outdoor adventure culture.
- Australia's Traffic Congestion Index shows minor fluctuations, suggesting stable traffic conditions with potential for congestion management improvements.
