Europe E-Bike Market Report and Forecast 2024-2032

Europe E-Bike Market Outlook

The Europe e-bike market size reached a value of nearly USD 25.63 billion in 2023. The market is projected to grow at a CAGR of 14.6% between 2024 and 2032 and reach around USD 94.35 billion by 2032.

Key Takeaways

• The major factors driving the sales of e-bikes in Europe are the innovative features of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials.

• Accell Group, Riese & Müller GmbH and Powabyke UK Ltd are a few of the major companies in the market.

• The growing preference for e-trekking, and e-MTB bikes, among others, owing to the increasing environmental consciousness, is augmenting the growth of the Europe e-bike market.

The introduction and implementation of various favourable government regulations such as EU Directive 2002/24/EC to encourage the use of electric bikes are driving the market growth. The growing consumer inclination towards the use of e-bikes as an eco-friendly and efficient solution for commuting and the increasing fuel costs are expected to propel the Europe market for e-bikes in the forecast period.

Some of the factors driving the Europe e-bike market growth are increasing concerns regarding environmental pollution, the rising popularity of e-cargo bikes, and the growing awareness regarding the health benefits associated with cycling. The growing demand for e-cargo bikes by logistical businesses in urban areas as a replacement for delivery vans is aiding their adoption. The rising focus on decarbonising the transportation sector is boosting the adoption of e-bikes in the region.

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Key Trends and Developments

Growing demand for personal mobility solutions; favourable government initiatives; the rising popularity of e-cargo bikes; and the robustly growing commercial sector are favouring the Europe e-bike market expansion

February 2024

Riese & Müller GmbH launched a new entry-level cargo bike model with a Bosch performance line motor named Carrie. The Bosch Performance Line motor offers reliable assistance with 75 Nm of torque. An additional 27 kg can be carried in the carrier with the MIK system when a child seat is fitted.

December 2022

Mate announced the launch of its new E-cargo bike with an SUV model with initial offerings in the UK and Europe. The e-cargo bike is made with 90% recycled aluminium and is launched as an alternative to a car.

December 2022

UTurn Investments, an independent family fund company, invested in 3T to support the growth of the Italian bike brand. The investment was aimed at improving the capacity of production and expanding it to international markets.

July 2022

Riese & Müller announced the relaunch of Packster 70 just in time for Eurobike 2022, with quality-focused specifically on the steering system. The relaunch was carried out with the company’s commitment towards maximum customer safety.

Increasing adoption of e-mobility solutions

European countries extensively adopt e-mobility solutions and have a strong presence of major companies. With the growing trend of e-mobility in France and the United Kingdom, the market for e-bikes is poised to witness robust growth in the forecast period.

Favourable government initiatives

As governments are promoting the purchase of electric mobility through tax credits and incentives in order to stimulate the usage of these environmentally friendly vehicles, the demand for e-bikes is surging, thereby adding to the market growth.

Rising Popularity of e-cargo Bikes

The growing demand for e-cargo bikes by logistical businesses in urban areas as a replacement for delivery vans is aiding their adoption. Further, individuals intending to transport goods to different locations also find e-bikes advantageous compared to cars.

Expansion of the commercial sector

The expanding commercial sector in the region is supporting the use of e-cargo bikes in logistics and delivery services as they can be parked closer to the destination and are less affected by congestion.

Europe E-bike Market Trends

The implementation of mobility hubs aids in the expansion of using e-bikes over a wider area by utilising shared e-bikes or trial e-bikes. Additionally, the introduction of cycle stops that provide e-bike parking, storage, and charging services at restaurants and cafes, can boost the use of e-bikes for recreational activities and support the region’s tourism sector. The tourism sector of Europe is booming. In 2023, the tourism sector expanded by 6.3% compared to 2022, propelling the Europe e-bike market growth.

Furthermore, across Europe, people are inclined to switch to an e-bike for their daily commute and recreational activities, as these bikes are highly eco-friendly. While parents adopt e-cargo bikes to pick up and drop off their children, food delivery and logistics businesses use them to replace delivery vans in urban areas to overcome traffic congestion.

Figure: Total number of International Arrived Tourists in Europe (in Million), 2018-2023

Market Segmentation

Europe E-bike Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

• Pedal Assisted

• Throttle Assisted

Market Breakup by Drive Units:

• Mid-Drive Motors

• Hub Motors

Market Breakup by Battery:

• Lithium Ion Battery

• Others

Market Breakup by Application:

• Urban

• Tracking

• Cargo

• MTB

• Others

Market Breakup by Region:

• Germany

• United Kingdom

• France

• Italy

• Spain

• Switzerland

• Sweden

• The Netherlands

• Others

Peddle-assisted e-bikes are expected to dominate the Europe e-bike market share due to rising health consciousness among Europeans

Pedal-assisted bikes with ergonomically designed seats have provided bikers comfort while reducing the strain on their wrists and neck. There is an availability of versatile e-bikes, such as pedal-assisted e-bikes in a variety of models that meet the needs of European cyclists. Additionally, the development of pedal-assist e-bikes integrated with IoT and real-time tracking technology that alerts owners of theft attempts is supporting their adoption.

Electric bikes with throttles meet consumers’ needs for cycling to maintain their health, as well as the need for speed and efficiency. The government regulations for enhanced security raise the adoption of such bikes. For instance, the manufacturer has undergone "type approval" in order to comply with the UK law known as L1e, which essentially covers low-powered mopeds.

Competitive Landscape

Major players in the Europe e-bike market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge

Accell Group

Accell Group, headquartered in the Netherlands and founded in 1998, is one of the leading companies in the European market in the e-bikes segment and the second largest in bicycle parts and accessories. Accell Group provides numerous e-bikes under different brands which target different market segments. The e-bike brands provided by the company include Koga, Winora, Sparta, Cargon and Lapierre.

Riese & Müller GmbH

Riese & Müller GmbH is engaged in manufacturing premium e-bikes, e-cargo bikes, and folding bikes. The company engages in application-oriented product development, innovative e-bike technology, and powerful riding dynamics. The company provides a wide range of e-bikes under different segments which include cargo, compact, commuter, tour, and others.

Powabyke UK Ltd

Headquartered in the UK and founded in 1888, Powerbyke offers a wide range of e-bikes with advanced lightweight nimble alloy frames and powerful lithium battery technology. Powabyke UK Ltd. offers a wide range of e-bikes under its portfolio, including Sinope Step-Through Hybrid 28″ 14ah 85nm, La Rue, Pulze Ladies Electric Bike, and others.

QWIC

Headquartered in the Netherlands and founded in 2006, the company is engaged in developing, manufacturing, and selling innovative electric bicycles for urban commuters. The company has more than 750 sales and service points in the Netherlands, Belgium, Germany, and Austria. QWIC offers numerous e-bikes under four different segments, including Adventure, Comfort, Performance, and Urban. The brands offered by the company include Mira, Premium Q, Premium I and Premium Carrier.

Other key players in the Europe e-bike market include Kalkhoff Werke GmbH, among others.

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Europe E-bike Market Analysis by Region

In Germany, e-bikes are the most popular type of electric transportation as they are not only sustainable but also serve as a form of exercise and recreation. The increasing preference for affordable and sustainable personal mobility solutions has boosted the demand for e-bikes. According to industry reports, 48% of the households in the country owned electric bikes in 2022.

In August 2022, the French government announced incentives up to USD 4073 to enable citizens to buy an electric bike. This grant, applicable to lower-income households in low-emission urban zones, aims to bolster active mobility and reduce pollution in the country. Long-term rental services such as Véligo Location offering extended rentals of e-bikes and e-cargo bikes at a cost-effective price are supporting the adoption of electric bikes in the country.

In Spain, the infrastructure of bike-sharing services and the presence of e-bike manufacturers expand the Europe e-bike market growth. With start-ups like Rayvolt in the country, the availability of innovative and aesthetic e-bikes with advanced technologies, high efficiency, low noise levels, and features like regenerative braking, among others, is increasing.

Key Highlights of the Report

Europe E-bike Market Report Snapshots

Europe E-Bike Market Size

Europe E-bike Market Trends

Europe E-Bike Companies

Europe E-bike Market Regional Analysis