Nordic E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.09 Billion |
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Market Size (2029) | USD 1.62 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 8.25 % |
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Largest Share by Country | Sweden |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Nordic E-bike Market Analysis
The Nordic E-bike Market size is estimated at 1.09 billion USD in 2024, and is expected to reach 1.62 billion USD by 2029, growing at a CAGR of 8.25% during the forecast period (2024-2029).
1.09 Billion
Market Size in 2024 (USD)
1.62 Billion
Market Size in 2029 (USD)
14.16 %
CAGR (2017-2023)
8.25 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
62.02 %
value share, Pedal Assisted, 2023
Growth in health-conscious consumers, easy affordability, easy rides, no registering of licensing cost, and no fuel cost are major factors making pedal assisted the largest segment.
Largest Segment by Application Type
76.06 %
value share, City/Urban, 2023
The benefits of using bicycles over other transport for daily commuting to nearby locations, such as offices, schools, and marketplaces, are making city/urban the largest segment.
Largest Segment by Battery Type
99.52 %
value share, Lithium-ion Battery, 2023
Extended range, quick charging capability, long running life, and declining prices gradually are the reasons for the higher usage of lithium batteries.
Largest Country
35.17 %
value share, Sweden, 2023
Growing pollution and stringent norms to enhance electrification and clean fuel vehicles are responsible for Norway being the largest country with bicycle usage in the Nordic.
Leading Market Player
14.20 %
market share, Royal Dutch Gazelle, 2022
Large supply network, well built brand image along with wide product portfolio offering in various Nordic countries have made Giant Bicycles the largest market player in Nordic region.
PROPULSION SEGMENT MARKET OVERVIEW
- COVID-19 has caused a rapid acceleration of the e-bike market, accelerating sales and transforming cycling attitudes overnight. Many people are still avoiding public transportation or prefer to rely on it less while also choosing commuting models that help avoid traffic. The e-bike market in the Nordic region may record a CAGR of around 11% during 2020-2026. Government initiatives to promote cycling, such as the construction of new bike lanes and increased investments in infrastructure, may also contribute to the growth of the e-bike market in the region.
- Over the long term, the Swedish e-bike market is expected to increase owing to the increase of bike-sharing companies, growing e-commerce activities across the country where e-bikes are used to deliver parcels, and governmental initiatives to increase the usage of bicycles by people by increasing bicycle infrastructure. In Sweden, around 80% of all urban car trips are less than 4 kilometers, suggesting that biking or walking may replace driving. In 2025, 25% of travel distances are expected to be covered by bicycle, foot, or public transportation, according to the Swedish government. In terms of the city itself, Gothenburg may observe 12% of all trips taken by bike in 2025.
- The European Commission has separately targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Nordic cycling numbers should rise in the coming years due to these citywide, national, and continental goals, and e-bike sales are expected to increase in the coming years.
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NORDIC REGION COUNTRY LEVEL MARKET OVERVIEW
- During the COVID-19 outbreak and the ensuing lockdowns and limitations, e-bike production declined. However, as things got back to normal, the market gained momentum. During the pandemic, people avoided public and rental transportation and preferred owning vehicles for daily commuting. This trend has been continuing even after the pandemic.
- Across developed regions like Nordic, with dedicated bicycle lanes in cities and suburbs, several drug stores and other emergency-related services are employing e-bikes to deliver essential services and items over short distances. They can avoid traffic in some densely populated areas and cater to the needy in less time.
- The main factors driving the e-bike market in Nordic are rising fuel prices, increased road congestion, rising health and fitness concerns, and growing environmental awareness. Due to the inconvenience of public transportation and rising pollution and traffic congestion, the need for personal vehicles has increased in the region. People are also showing a growing interest in protecting the environment for future generations, mostly due to the diminishing availability of natural resources. Therefore, owing to such factors, the demand for e-bikes is expected to grow in the region during the forecast period.
Nordic E-bike Market Trends
The consistent growth in e-bike adoption across Nordic countries, led by Denmark and Norway, showcases a strong inclination towards sustainable and health-conscious transportation choices in the region.
- Nordic countries have witnessed significant growth in the demand for e-bikes over the past few years. The benefits of e-bikes over the old traditional bicycles have raised the former's demand across the region. Riding comfortably with minimal effort, zero carbon emission, time-saving during peak traffic hours, and cost-efficiency are some of the major factors contributing to the adoption of e-bikes over other vehicles for daily commuting to nearby places. As a result, the adoption rate for e-bikes increased by around 5% in 2019 over 2018 across the Nordic region.
- In 2020, the Nordic e-bike market was favorably impacted by the COVID-19 outbreak. The use of personal vehicles increased, and people started avoiding other modes of transportation, including public transportation and hired cabs, which greatly aided in the spread of e-bikes throughout the region. These factors encouraged many to buy e-bikes as a practical and affordable option for daily commuting to work and neighboring locations in various countries. As a result, the adoption rate of e-bikes in Sweden increased by around 6% in 2020 compared to 2019.
- In 2021, the easing of COVID-19 restrictions led to the restart of offices and business operations, thus, increasing the region's consumer demand for e-bikes. The introduction of new e-bikes with cutting-edge features like quick charging, a large range in kilometers, and fitness tracking has greatly influenced people to purchase e-bikes. As a result, all Nordic countries are anticipated to have an e-bike adoption rate of more than 50% by 2029.
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A modest but steady increase in the population commuting 5-15 km, with Sweden and Norway showing consistent growth, reflecting a stable trend in regional commuting habits.
- The need for individual bikers rises each year as the number of Nordic nations using bicycles for transportation increases. The number of people who commute by bicycle 5 to 15 kilometers each day has increased due to the rising bicycle demand. In 2020, more than 10% of people in the area commuted daily between 5 and 15 kilometers to various destinations, including workplaces, businesses, and educational institutions.
- Millions of people rediscovered bicycles as a safe, socially isolated form of transportation due to the growing number of COVID-19 cases throughout the region, which prompted the closure of gyms and public transportation. During the pandemic, more people decided to commute within a range of 5 to 15 kilometers, thus increasing the number of commuters in 2021. Customers who commute 5 to 15 kilometers daily are also demanding e-bikes with cutting-edge battery packs that offer a greater range of up to 40-45 kilometers.
- People have become habitual in using bicycles for daily travel, further increasing the number of commuters between 5 and 15 kilometers, including traveling to their places of employment, businesses, and nearby markets. Various countries in the region have witnessed growth in the number of bicycle users. In 2022, Sweden witnessed 72.5% of people traveling to work daily on bicycles. Improvements to cycling infrastructure and the creation of bike lanes are expected to increase the demand for bicycles and commuters between 5 and 15 kilometers during the projection period in Sweden. Similar factors are projected to increase the demand for bicycles and commuters between 5 and 15 kilometers across the Nordic region.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The Nordic region shows a strong, growing market for bicycles, reflecting a widespread and enduring interest in cycling.
- Inflation trends in the Nordic region reflect a balanced economic scenario with Sweden, Norway, and Denmark experiencing a gradual increase in prices, underlining the region's effective management of economic pressures.
- The consistent decline in Li-ion battery prices in the Nordic region underscores a strong shift towards electric mobility.
- Extensive bicycle lanes in the Nordic region enhance safety and encourage cycling as a primary mode of transportation.
- Advanced Battery Technology is Encouraging Consumers to Choose E-Bikes
- Development in industries and GDP Per Capita
- Demonstrates a steady and consistent growth in the bicycle rental market, with countries like Sweden and Finland contributing to the regional market value.
- The Nordic region is embracing e-bikes for hyperlocal deliveries, optimizing for speed and sustainability in urban areas.
- Trekking is growing in popularity, with Sweden, Norway, and Denmark showing consistent increases in the number of trekkers, indicating a robust outdoor activity culture.
- Norway and Sweden show a decreasing trend in traffic congestion, maintaining lower levels compared to Denmark, which has a slightly fluctuating but stable congestion rate.
Nordic E-bike Industry Overview
The Nordic E-bike Market is moderately consolidated, with the top five companies occupying 40.45%. The major players in this market are Accell Group, Giant Manufacturing Co. Ltd., Kalkhoff Werke GmbH, Royal Dutch Gazelle and VanMoof BV (sorted alphabetically).
Nordic E-bike Market Leaders
Accell Group
Giant Manufacturing Co. Ltd.
Kalkhoff Werke GmbH
Royal Dutch Gazelle
VanMoof BV
Other important companies include Aventon Bikes, Cannondale Bicycle Corporation, Ecoride AB, MHW Bike-House GmbH (Cube Bikes), Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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Nordic E-bike Market News
- November 2022: Cannondale and Stella McCartney introduced the new Stella Shared 3x Cannondale customs bike collection.
- November 2022: The Stormguard E+, a full-suspension e-bike, is unveiled by Giant. The bicycles will be available for purchase in Europe in 2023 and will cost 7,999 Euros for the E+1 and 6,499 Euros for the E+2.
- November 2022: Cannondale announced a new global unified organizational structure that will eliminate regional GM and, the company said, leverage Pon.Bike to enhance operations and growth.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
Nordic E-bike Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Bicycle Sales
- 4.2 GDP Per Capita
- 4.3 Inflation Rate
- 4.4 Adoption Rate Of E-Bikes
- 4.5 Percent Population/Commuters With 5-15 Km Daily Travel Distance
- 4.6 Bicycle Rental
- 4.7 E-Bike Battery Price
- 4.8 Price Chart Of Different Battery Chemistry
- 4.9 Hyper-Local Delivery
- 4.10 Dedicated Bicycle Lanes
- 4.11 Number Of Trekkers
- 4.12 Battery Charging Capacity
- 4.13 Traffic Congestion Index
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Propulsion Type
- 5.1.1 Pedal Assisted
- 5.1.2 Speed Pedelec
- 5.1.3 Throttle Assisted
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5.2 Application Type
- 5.2.1 Cargo/Utility
- 5.2.2 City/Urban
- 5.2.3 Trekking
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5.3 Battery Type
- 5.3.1 Lead Acid Battery
- 5.3.2 Lithium-ion Battery
- 5.3.3 Others
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5.4 Country
- 5.4.1 Denmark
- 5.4.2 Finland
- 5.4.3 Norway
- 5.4.4 Sweden
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Accell Group
- 6.4.2 Aventon Bikes
- 6.4.3 Cannondale Bicycle Corporation
- 6.4.4 Ecoride AB
- 6.4.5 Giant Manufacturing Co. Ltd.
- 6.4.6 Kalkhoff Werke GmbH
- 6.4.7 MHW Bike-House GmbH (Cube Bikes)
- 6.4.8 Royal Dutch Gazelle
- 6.4.9 Trek Bicycle Corporation
- 6.4.10 VanMoof BV
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- NORDIC E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- NORDIC E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- NORDIC E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- NORDIC E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- NORDIC E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- NORDIC E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- NORDIC E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 8:
- NORDIC E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 9:
- NORDIC E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- NORDIC E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- NORDIC E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 12:
- NORDIC E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 13:
- NORDIC E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 14:
- NORDIC E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 15:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 16:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 17:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 18:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 20:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 21:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 22:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 23:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 24:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 25:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 26:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 27:
- NORDIC E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 28:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 29:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 30:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 31:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 33:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 34:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 35:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 36:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 37:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 38:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 39:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 40:
- NORDIC E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 41:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 42:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 43:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 44:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 46:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 47:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 48:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 49:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 50:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 51:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 52:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 53:
- NORDIC E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 54:
- NORDIC E-BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 55:
- NORDIC E-BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 56:
- NORDIC E-BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 57:
- NORDIC E-BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 58:
- NORDIC E-BIKE MARKET, DENMARK , VOLUME, UNITS, 2017 - 2029
- Figure 59:
- NORDIC E-BIKE MARKET, DENMARK , VALUE, USD, 2017 - 2029
- Figure 60:
- NORDIC E-BIKE MARKET, DENMARK , VALUE SHARE (%), 2022 VS 2029
- Figure 61:
- NORDIC E-BIKE MARKET, FINLAND , VOLUME, UNITS, 2017 - 2029
- Figure 62:
- NORDIC E-BIKE MARKET, FINLAND , VALUE, USD, 2017 - 2029
- Figure 63:
- NORDIC E-BIKE MARKET, FINLAND , VALUE SHARE (%), 2022 VS 2029
- Figure 64:
- NORDIC E-BIKE MARKET, NORWAY , VOLUME, UNITS, 2017 - 2029
- Figure 65:
- NORDIC E-BIKE MARKET, NORWAY , VALUE, USD, 2017 - 2029
- Figure 66:
- NORDIC E-BIKE MARKET, NORWAY , VALUE SHARE (%), 2022 VS 2029
- Figure 67:
- NORDIC E-BIKE MARKET, SWEDEN , VOLUME, UNITS, 2017 - 2029
- Figure 68:
- NORDIC E-BIKE MARKET, SWEDEN , VALUE, USD, 2017 - 2029
- Figure 69:
- NORDIC E-BIKE MARKET, SWEDEN , VALUE SHARE (%), 2022 VS 2029
- Figure 70:
- NORDIC E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 71:
- NORDIC E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 72:
- NORDIC E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Nordic 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. Denmark, Finland, Norway, Sweden are covered as segments by Country.
- COVID-19 has caused a rapid acceleration of the e-bike market, accelerating sales and transforming cycling attitudes overnight. Many people are still avoiding public transportation or prefer to rely on it less while also choosing commuting models that help avoid traffic. The e-bike market in the Nordic region may record a CAGR of around 11% during 2020-2026. Government initiatives to promote cycling, such as the construction of new bike lanes and increased investments in infrastructure, may also contribute to the growth of the e-bike market in the region.
- Over the long term, the Swedish e-bike market is expected to increase owing to the increase of bike-sharing companies, growing e-commerce activities across the country where e-bikes are used to deliver parcels, and governmental initiatives to increase the usage of bicycles by people by increasing bicycle infrastructure. In Sweden, around 80% of all urban car trips are less than 4 kilometers, suggesting that biking or walking may replace driving. In 2025, 25% of travel distances are expected to be covered by bicycle, foot, or public transportation, according to the Swedish government. In terms of the city itself, Gothenburg may observe 12% of all trips taken by bike in 2025.
- The European Commission has separately targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Nordic cycling numbers should rise in the coming years due to these citywide, national, and continental goals, and e-bike sales are expected to increase in the coming years.
| Propulsion Type | Pedal Assisted |
| Speed Pedelec | |
| Throttle Assisted | |
| Application Type | Cargo/Utility |
| City/Urban | |
| Trekking | |
| Battery Type | Lead Acid Battery |
| Lithium-ion Battery | |
| Others | |
| Country | Denmark |
| Finland | |
| Norway | |
| Sweden |
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Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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