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MARKET OUTLOOK

As mentioned in Triton’s report, the e-bike market in Europe is envisioned to surge at a compound annual growth rate of 11.07% during the considered phase 2021-2028. Netherlands, France, Germany, Italy, Belgium, Russia, the United Kingdom, and Rest of Europe form the region’s market. 

In recent years, the UK government has taken measures to improve the adoption rate of electric bikes across the country. The market has been primarily motivated by the rising awareness about eco-friendly transportation, cycle-to-work schemes, and the government’s commitment towards cargo bike subsidies. Additionally, the growing demand for electric bikes is estimated to encourage market players to produce new bikes. Other than this, the e-bike hire schemes are anticipated to stimulate the increasing market over the next few years. Therefore, these aforementioned factors are widening the scope of the e-bike market across the United Kingdom. 

In Germany, after the pandemic-induced lockdown, the sales of electric bikes increased more than anticipated. This has resulted in the consumer demand for e-bikes for leisure to daily use purposes. Among the various e-bikes, e-city bikes recorded a major sale, followed by e-trekking and e-cargo bikes. Additionally, the innovative features offered by these bikes, including integrated batteries and high-quality materials, are augmenting the demand for electric bikes across the country. Hence, as stated above, these elements are likely to offer opportunities to the e-bike market to reach its anticipated growth over the upcoming years within Germany. 

COMPETITIVE OUTLOOK 

Some of the key firms in the e-bike market include LG Chem, Fuji-Ta Bicycle Co Ltd, Panasonic Corporation, Brose Fahrzeugteile Se & Co KG, Accell Group, Vanmoof, Giant Manufacturing Co Ltd, BMZ GmbH, and Qwic.