Central and Eastern Europe E-Bike Market - Growth, Trends, and Forecasts (2020 - 2025)
The Central and Eastern Europe Bike Sharing Market is anticipated to register a CAGR of about 5.67% during the forecast period (2020 – 2025).
Consumers today are unwilling to invest hugely in commodities which are used for only a brief period. The bikesharing system is designed specifically for commuters who can pick bicycles as per their need at conveniently timings and locations. With hasslefree, low maintenance, and cheap pricing, bike Sharing is also becoming popular in the Central and Eastern Europe EBike Market.
Since 2017, many Chinese bikesharing models have penetrated the central and eastern Europe EBike Market. But, today, several local operators are also starting up their bikesharing businesses. Also, Bikes provide an added benefit of leaner volume, which significantly reduces traffic congestion.
Rise of Ebikes providing the same utility any twowheelers with an added benefit of reduced illeffects on the environment is also becoming popular amongst the central and eastern European countries. Many young engineers and entrepreneurs with experience in design and innovation see the Ebike industry as a massive opportunity, especially in Central and Eastern Europe.
Key Market Trends
Rise in the Demand of Green Transportation
Mobility plays a vital role in the current society that we live in.
With the growing concern for preserving and sustaining it for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns, protecting the environment poses a great challenge to both the society and governments worldwide.
As a result, the rising demand for ebikes is proving to be an ideal solution to the challenge.
With the continually growing environmental and health concerns, due to the increasing emission levels, the governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.
Additionally, the depletion of fossil fuel levels at an alarming rate has been creating concerns for sustainability for future generations. This factor is posing a huge challenge for governments and society.
Thus, ebikes are proving to be an ideal solution for the challenge.
Poland is the FastestGrowing Market
Even with the limited infrastructure in Poland compared to neighbors such as Germany and France, Poland today has become one of the most important Ebike manufacturing countries in Europe. In fact, Hungary comes in the second position. Recently, Giant Bicycles have announced they will invest USD 15m on a production facility in Gyöngyös.
The bikeshare sector is expected to grow from the current 35 Ebikes per 1000 residents in all major European cities to 1020 bikes per 1000 residents in the next five years, representing a 2030% growth per year.
European expert group comprising of selected few companies like Donkey Republic, BiciMAD, and Mobike formed a powerful advocacy in the bikesharing sector. Madrid saw some major benefits of the introduction to sharing electric bicycles and became the first European city to offer an allelectric bicycle program in 2014. Also, BiciMAD saw its base subscriber to grow from 1,000 to over 50,000 people.
The Europe Bike Sharing Market is hugely fragmented with various startups and regional players such as GEOBike, Byke, Rekola, YoBike, VOI Ebikes, BiciMAD, and The Donkey Republic. Although to have the edge over its competitors, the major bike manufacturers are making jointventures, partnerships to launch newer products.
For instance, In 2018, VOI Ebikes was founded in 2018 and provides Ebikes across 18 cities and 9 European counties. It has ambitious rollout across Europe, targeting 150 cities and towns while unveiling a new range of improved escooters and ebikes.
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