Europe E-bike Market Size

Europe E-bike Market Analysis

The Europe E-bike Market size is estimated at 19.36 billion USD in 2024, and is expected to reach 29.28 billion USD by 2029, growing at a CAGR of 8.63% during the forecast period (2024-2029).

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19.36 Billion

Market Size in 2024 (USD)

29.28 Billion

Market Size in 2029 (USD)

20.91 %

CAGR (2017-2023)

8.63 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

78.06 %

value share, Pedal Assisted, 2023

Countries such as Germany and France are using pedal-assisted bikes extensively due to factors like time-saving, cost benefits, and easy rides, making pedal assisted the largest segment.

Largest Segment by Application Type

74.33 %

value share, City/Urban, 2023

Europe has dedicated bike lanes in cities and suburbs. Courier services are deploying e-bikes to deliver parcels and people are using bikes for daily commutes, thus aiding the growth of the city/urban segment.

Largest Segment by Battery Type

99.81 %

value share, Lithium-ion Battery, 2023

Long-range offerings, less charging time, durability, high power in small sizes, and lightweight are some of the factors that are increasing the usage of lithium batteries, further making Li-ion the largest battery type.

Largest Country

44.29 %

value share, Germany, 2023

Germany has the highest number of e-bikes due to the increase in the electrification of vehicles, stringent norms by the government, and the growing interest of consumers for cleaner rides.

Leading Market Player

25.01 %

market share, Giant Manufacturing Co. Ltd., 2022

Strong brand awareness, a large supply chain network, and a wide product portfolio offering in various European countries are the factors making Giant the largest brand across Europe.

PROPULSION SEGMENT MARKET OVERVIEW

EUROPE COUNTRY LEVEL MARKET OVERVIEW

Europe 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. Austria, Belgium, Czech Republic, France, Germany, Italy, Luxembourg, Netherlands, Poland, Spain, Switzerland, UK, Rest-of-Europe are covered as segments by Country.

• A total of around 26 million units of electric bicycles were sold in the region in 2022, compared to around 24 million units of bikes in 2021. E-city/urban, e-trekking, and e-MTB bikes were the most preferred companies, occupying nearly 94% of all the e-bike sales in the country. Some of the major factors driving the sales of the e-bike market are the innovative character of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials.
• After Germany, the Netherlands is the second-largest e-bike market in Europe. In 2022, the country witnessed a sale of nearly 0.55 million e-bikes, which was a slight increase compared to the previous year, which recorded nearly 0.5 million unit sales. Though the volume of e-bikes in the country increased as compared to last year, it was not a considerable change. This can be attributed to the fact that new bike sales were affected by practices, such as bike-sharing systems and swap bikes.
• Some of the major reasons considered for adopting e-bikes in European countries are the health benefits, environmental benefits, reduction in expenditure, avoidance of traffic congestion, and rise in demand for e-bikes as sports equipment among youth. . All these factors are expected to help the market growth over the forecast period.