Europe E-Bike Market Rising Demand, Future Opportunities and Overview with Key Players - Aventon, Giant Bicycles, Haibike

The Europe e-bike market is expected to grow from US$ 11,706.81 million in 2021 to US$ 48,810.57 million by 2028; it is estimated 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.

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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.

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Major Key players covered in this report:

• Aventon
• Giant Bicycles
• Haibike
• Merida Bikes
• Accell Group
• Robert Bosch GmbH
• Shimano Inc.
• Specialized Bicycle Components, Inc.
• Trek Bicycle Corporation
• Yamaha Motor Europe N.V.

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

According to data provided by Eurostat, EU's statistical service provider, the 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. For instance, according to European Cyclists' Federation, since the second half of 2020, Italy has offered a 60% cashback, up to ~US$ 610, on every bicycle or e-bike purchase to accelerate the adoption of e-bikes. Therefore, after the initial slowdown in transportation and manufacturing activities in Europe, the e-bike market is reviving by leveraging a shift in mobility trends and the growing focus of countries toward the adoption of healthy eco-friendly transportation.

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Battery Type Segment Insights

Based on battery type, the market is segmented into lead-acid, lithium-ion polymer, and lithium-ion. In 2020, the lithium-ion segment held the largest share of the market. Also, the market for the same segment is anticipated to grow at the fastest rate during the forecast period. Lithium-ion batteries are made from different formulas using cobalt, manganese, or others. This battery type is ideal for high capacity and low power applications as these can be molded into different shapes and fitted at unique spaces.

Europe E-Bike Market, by Class Type

Based on class type, the Europe e-bike market is segmented into Class I, Class II, and Class III. The Class II segment led the market. However, the market for the Class III segment is expected to grow at the fastest rate by 2028.

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This release was published on openPR.