Market Trends of austria e-bike Industry
Austria demonstrates significant and consistent growth in E-Bike adoption rates, reflecting strong market acceptance and consumer demand.
- The sales of bicycles in Austria have grown significantly over the past few years. The growing interest in fitness, rising traffic congestion during office hours, and the increasing government policies to promote e-bicycles due to environmental conditions are increasing the adoption of e-bicycles in the country. Fuel cost savings and eco-friendly rides also accelerated the e-bicycle adoption rate to 5.0% in 2019 compared to 2018.
- The country witnessed continuous growth in the production of bicycles. Despite the pandemic, the production of e-bikes grew by 5.08% in 2020 compared to 2019. The growing number of COVID-19 cases in 2020 positively impacted the Austrian e-bike market. People started opting for e-bikes for daily commuting due to the fear of public transportation and maintaining social distancing. Thus, the adoption rate of e-bikes increased by 6.20% in 2020 compared to 2019.
- The resumption of business operations and the removal of trade barriers implemented by the government resulted in the gradual growth of e-bike sales in Austria in 2021. The resumption of trade activities resulted in the easier supply of various products, such as e-bikes. The introduction of advanced products with high-tech features, such as fast charging and long range, is projected to boost the adoption rate of e-bikes in Austria by 89% in 2029.
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Austria exhibits a gradual rise in the population commuting 5-15 km daily, indicating a slow but steady change in travel distances.
- Despite the pandemic, Austria’s bicycle production increased by around 5% in 2020 compared to 2019. The country also recorded significant growth in the number of bicycle buyers in the past few years. The number of people commuting by bicycle within a range of 5-15 km has grown in the country. The number of people commuting to their workplaces by bicycle accounted for around 50% of bicycle owners in Austria in 2020.
- The restrictions and barriers imposed by the government due to COVID-19 positively impacted the bicycle industry. The pandemic led to the closure of businesses, offices, industries, transportation services, etc. People started opting for bicycles to travel to nearby locations, like markets, to buy essentials or for exercise. The introduction of e-bikes with cutting-edge battery packs that offer an increased range of up to 40-45 km helped increase the number of people who commuted within a range of 5-15 km daily, amounting to 50% in 2021.
- During the pandemic, individuals developed the habit of riding bicycles, which continued after the resumption of activities and the removal of restrictions. In 2020, about 18% of people opted for e-bikes. Factors such as associated health benefits, no carbon emissions, and time-saving during traffic are expected to increase the usage of bicycles in Austria during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Austria's bicycle sales reveal steady growth, indicating a stable market with consistent consumer interest.
- Austria shows a peak in inflation in 2022, with a trend towards normalization, reflecting effective economic interventions.
- Austria's e-bike battery prices are consistently decreasing, reflecting market maturation and technological advancements.
- Austria's steady increase in dedicated bicycle lanes showcases a commitment to promoting cycling as part of a sustainable urban lifestyle.
- Austria is witnessing a steady reduction in E-bike charging times, highlighting the country's commitment to electric mobility and sustainable transportation.
- Austria's GDP per capita reflects steady growth, indicating a stable and prosperous economy.
- Austria's bicycle rental market, though smaller, is showing steady growth, reflecting a stable demand within the sector.
- Austria's hyper-local delivery sector is witnessing steady growth, indicating an increasing consumer preference for localized online options.
- Austria's increasing trekker numbers reflect its rich alpine tradition and a growing interest in mountain trekking and outdoor activities.
- Austria's Traffic Congestion Index is relatively low and stable, suggesting effective congestion management and consistent traffic patterns.
