Market Size of belgium e-bike Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 0.90 Billion |
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Market Size (2029) | USD 1.40 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 9.21 % |
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Fastest Growing by Propulsion Type | Throttle Assisted |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Belgium E-Bike Market Analysis
The Belgium E-bike Market size is estimated at 0.90 billion USD in 2024, and is expected to reach 1.40 billion USD by 2029, growing at a CAGR of 9.21% during the forecast period (2024-2029).
0.90 Billion
Market Size in 2024 (USD)
1.40 Billion
Market Size in 2029 (USD)
6.44 %
CAGR (2017-2023)
9.21 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
78.80 %
value share, Pedal Assisted, 2023
Health benefits, assistance while cycling that results in less exhaustion, no license requirement, and comfortable rides are the factors that make pedal-assisted e-bikes the largest propulsion-type segment in the market.
Largest Segment by Application Type
77.99 %
value share, City/Urban, 2023
The city/urban bikes segment is the most common and largest application type as more people utilize urban bikes for daily commutes to local areas like offices, schools, and shops.
Largest Segment by Battery Type
100 %
value share, Lithium-ion Battery, 2023
The lithium-ion battery segment is the largest form of battery type used due to its lightweight property, quick-charging technology, extended range capabilities, and longer lifespan over conventional batteries.
Fastest-growing Segment by Propulsion Type
9.26 %
Projected CAGR, Throttle Assisted, 2024-2029
The speed pedelec segment is the fastest-growing segment because people prefer speed pedelecs over other vehicles to travel nearby distances since they can escape traffic congestion easily and save fuel costs.
Leading Market Player
7.43 %
market share, Batavus Intercycle Corporation, 2022
Batavus, the operating subsidiary of the Accell Group, is one of the oldest Dutch brands with a wide customer reach. It is one of the largest market players in Belgium.
PROPULSION SEGMENT MARKET OVERVIEW
- As a result of the COVID-19 restrictions, there were fewer commuting trips, more frequently performed by bigger vehicles. Although there were fewer restrictions in Belgium than in other European nations, personal transportation became increasingly common in Belgium as well.
- In recent times, e-bikes have become especially popular with people between the ages of 50 and 60 years, as they have been using bikes mainly for recreation purposes in Belgium. But there has also been a noticeable growth in the sales of e-bikes between the age group of 40 and 50 years. Thus, more people have been adopting e-bikes for commuting. There is also an increased preference for e-bikes with a lady's frame as they are easier to sit on and ride.
- Consumers purchased more expensive e-bikes in 2021. From EUR 2,191 to EUR 2,283, the average price of an e-bike in Belgium increased by 4% in 2021 from 2020. From EUR 2,031 to EUR 2,197, the price increase in Belgium in 2021 was more than 8% higher than in 2020. Essentially, consumers in the country have begun to purchase more high-end electric bikes, with e-bikes priced above EUR 3,000 also showing significant growth. Cheaper e-bikes still hold a lot of potential. In Belgium, over 30% of purchases are of e-bikes, with prices up to EUR 1,500. E-bike adoption is also increasing due to an increased focus on human health and the environment and the rising preference for a reliable mode of transportation. As electric bikes gain prominence in Belgium, start-ups and major players have begun introducing their latest product portfolios in the country to cater to the growing demand and garner a significant market share. Such factors are expected to augment the market's growth over the forecast period.
Belgium E-bike Industry Segmentation Belgium E-Bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.
- As a result of the COVID-19 restrictions, there were fewer commuting trips, more frequently performed by bigger vehicles. Although there were fewer restrictions in Belgium than in other European nations, personal transportation became increasingly common in Belgium as well.
- In recent times, e-bikes have become especially popular with people between the ages of 50 and 60 years, as they have been using bikes mainly for recreation purposes in Belgium. But there has also been a noticeable growth in the sales of e-bikes between the age group of 40 and 50 years. Thus, more people have been adopting e-bikes for commuting. There is also an increased preference for e-bikes with a lady's frame as they are easier to sit on and ride.
- Consumers purchased more expensive e-bikes in 2021. From EUR 2,191 to EUR 2,283, the average price of an e-bike in Belgium increased by 4% in 2021 from 2020. From EUR 2,031 to EUR 2,197, the price increase in Belgium in 2021 was more than 8% higher than in 2020. Essentially, consumers in the country have begun to purchase more high-end electric bikes, with e-bikes priced above EUR 3,000 also showing significant growth. Cheaper e-bikes still hold a lot of potential. In Belgium, over 30% of purchases are of e-bikes, with prices up to EUR 1,500. E-bike adoption is also increasing due to an increased focus on human health and the environment and the rising preference for a reliable mode of transportation. As electric bikes gain prominence in Belgium, start-ups and major players have begun introducing their latest product portfolios in the country to cater to the growing demand and garner a significant market share. Such factors are expected to augment the market's growth over the forecast period.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| Cargo/Utility | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
Belgium E-bike Market Size Summary
The Belgium e-bike market is experiencing significant growth, driven by a shift in consumer preferences towards personal and environmentally friendly transportation options. The popularity of e-bikes has surged, particularly among individuals aged 50 to 60, with increasing adoption also seen in the 40 to 50 age group. This trend is supported by a growing interest in high-end electric bikes, as consumers are willing to invest in more expensive models that offer advanced features and better performance. The market is further bolstered by the rising demand for e-bikes with lady's frames, which are perceived as more comfortable and easier to ride. The COVID-19 pandemic played a pivotal role in accelerating e-bike adoption, as social distancing measures and concerns over public transportation prompted more people to consider e-bikes as a convenient and cost-effective commuting solution.
The market landscape in Belgium is characterized by a fragmented structure, with several key players vying for market share. Companies such as A. Winther A/S, Batavus Intercycle Corporation, Royal Dutch Gazelle, Strom, and VanMoof BV are prominent in the sector, contributing to the competitive environment. The resumption of business operations and the introduction of innovative, high-tech e-bike models have further fueled market growth. Government initiatives and improvements in cycling infrastructure are also encouraging more people to commute by bicycle, thereby increasing the demand for e-bikes. As the market continues to expand, the focus on health, environmental sustainability, and reliable transportation options is expected to drive further growth in the coming years.
Belgium E-bike Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Propulsion Type
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1.1.1 Pedal Assisted
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1.1.2 Speed Pedelec
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1.1.3 Throttle Assisted
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1.2 Application Type
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1.2.1 Cargo/Utility
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1.2.2 City/Urban
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1.2.3 Trekking
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1.3 Battery Type
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1.3.1 Lead Acid Battery
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1.3.2 Lithium-ion Battery
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1.3.3 Others
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Belgium E-bike Market Size FAQs
How big is the Belgium E-bike Market?
The Belgium E-bike Market size is expected to reach USD 903.67 million in 2024 and grow at a CAGR of 9.21% to reach USD 1.40 billion by 2029.
What is the current Belgium E-bike Market size?
In 2024, the Belgium E-bike Market size is expected to reach USD 903.67 million.
