Europe E-bike Market Forecast 2021-2028
The Europe e-bike market is predicted to evolve at a CAGR of 11.52% during the forecast period, 2021-2028. There is an inclination among Europeans toward personal well-being and physical fitness. Many cities of the region entail developed infrastructure, where e-bikes can be conveniently used without the interference of the heavy vehicle traffic. Thus, these factors, along with changing culture and favorable infrastructure, are set to fuel the market growth of Europe.
The Europe e-bike market growth analysis entails the evaluation of France, Russia, the Netherlands, Germany, the United Kingdom, Italy, Belgium, and the rest of Europe. In Germany, the sales of e-bikes post lockdown have increased, as there is a shifting pattern from leisure to daily use. The e-bike manufacturers of the country exported almost 440,000 e-bikes in 2018, an increase of 51% from that of 2017. Also, the German-made e-bikes are witnessing huge demands. The innovations, appealing designs, use of high-quality materials, fully integrated batteries, are driving the sales of e-bikes in Germany. In Italy, the e-bike market is underdeveloped. The primary reason slowing the adoption rate of e-bikes is the huge market of powered two-wheelers, particularly scooters like Vespa. The factors that are evaluated to drive the market growth are fatigue reduction and agility offered by e-bikes, along with growing demand for sports and related activities. Thus, the country is set to witness steady growth during the forecast period.
Some of the leading players in the market are, Robert Bosch GmbH, Samsung SDI Co Ltd, Panasonic Corporation, LG Chem, Giant Manufacturing Co Ltd, etc.
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