Volume European E-Bike Market Forecasted to Triple within Next Five Years
DOETINCHEM, The Netherlands – It’s clear to everyone that e-bikes are currently the dominant trend within the European bicycle market. But what is less obvious is what needs to be taken into account in the coming years with regard to where demand is moving for volume-wise. To find out more about this, Bike Europe spoke to various insiders. Their conclusions; the market will triple over the next five years. And that’s even a modest estimate.
That demand for e-bikes continues to rise rapidly is underlined by sales in Europe’s biggest markets. In Germany it grew by 37 percent in the first half of 2019 to 920,000 electric bikes; almost the same number of the 2018 sales total. In the Netherlands turnover-wise sales upped close to 36 percent during the first eight months of this year.
Unyielding e-bike popularity
What this boils down to is that even in these mature markets the popularity of e-bikes is unyielding. And that while there are still so many markets within Europe where consumers have barely been introduced to the benefits electric bicycles offer. What will that demand bring about up to 2025?
Market to triple in size
The Confederation of the European Bicycle Industry (CONEBI) answers that question. It’s GM Manuel Marsilio says that what should be taken into account is that the market will triple in the next five years. According to him, this means that in view of the 2.5 million units sold last year, the total market size in 2025 will stand at around 7 million e-bikes.
Other experts consider the CONEBI forecast as too moderate. They expect that in the next five years the e-bike share in Europe’s total bicycle sales will grow to 50 percent. Applying that to a total bicycle sales that stands annually at some 20 million units, results in a total market of some 10 million e-bikes! This even accounts for a quadrupling of the market to take place in the next five years. And by the way, it’s also predicted by CONEBI that 70 percent of that sales total will be manufactures in the EU.
Meeting that demand
Such expectations result in the fact that solutions have to be found for the bottlenecks that are already occurring in the e-bike supply chain. For instance with alloy e-bike frames. The same goes for batteries and drive systems. But what’s hopeful in this regard is that there’s being invested adequately in European production currently to meet the rapidly growing demand for e-bikes.