Market Trends of canada e-bike Industry
Canada's E-Bike adoption rates show a steady increase, indicating a growing awareness and acceptance of E-Bikes.
- The demand for bicycles has increased significantly across Canada over the past few years. The benefits of an electronic bicycle over conventional bicycles have sparked a surge in demand for e-bikes across Canada. Ease of riding, pollution-free travel, time savings, and cost efficiency are some of the major factors contributing to the adoption of e-bikes over other vehicles for daily commuting. As a result, e-bike adoption increased by 0.70% in 2019 compared to 2018.
- The rise of COVID-19 cases and the avoidance of public and shared transportation have positively impacted the sales and usage of personal vehicles, including e-bikes. People prefer e-bikes to other modes of transportation because they are one of the cheapest and most carefree vehicles, with very little maintenance cost compared to other vehicles. Such factors have resulted in the sales growth of e-bicycles, due to which the adoption rate of e-bikes among consumers in Canada increased by around 0.70% in 2020 over 2019.
- The growing awareness of e-bikes among Canadians is changing their attitudes, with factors such as effort savings, no fuel expenses, eco-friendliness, a cheap mode of transportation, and exercise benefits driving the growth of e-bikes. The country witnessed an e-bike adoption rate of 1.30% in 2022 over 2021, which is projected to grow further during the forecast period.
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Canada demonstrates a gradual and consistent rise in the percentage of commuters traveling 5-15 km daily, reflecting stable commuting habits.
- Over the past few years, the demand for bicycles in Canada has increased significantly as residents of various cities steadily adopted the bicycle culture. However, commuter travel of 5-15 km is still relatively low compared to other modes of transportation. In 2019, most people preferred traveling by car and public transportation, and less than 5% of the population opted to commute by bicycle to nearby places within 5-15 km.
- The pandemic strongly and positively affected the demand for bicycles in Canada. Due to COVID-19-related concerns, more Canadians opted to cycle or walk to work than ride public transportation. Due to the pandemic, the use of public transportation decreased by 10%. However, daily bicycle commuters registered a growth of more than 3% in 2020 over 2019. The introduction of e-bikes with advanced features and higher battery ranges has encouraged consumers to opt for bicycles, thus increasing the number of commuters in Canada within the 5-15 km travel range in 2021 over 2020.
- Despite the relaxation in pandemic-related restrictions, people continued to use bicycles as a mode of commute as they developed a habit during the pandemic. Many people commute daily by bicycle between offices, businesses, and marketplaces within a range of 5-15 km. More people are adopting bicycles due to their health benefits, carbon-free journeys, and time-saving advantages. These factors are anticipated to increase the use of bicycles for commuting between 5 and 15 km in Canada during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Canada's bicycle sales exhibit slight, consistent growth, reflecting a stable market with a steady demand for bicycles.
- Canada's inflation rates show a peak in 2022, with a steady return to normalcy, reflecting effective monetary policies.
- Canada's e-bike battery prices are trending downward, indicating cost efficiencies and growing market adoption.
- Canada's consistent increase in dedicated bicycle lanes indicates ongoing initiatives to integrate cycling into the urban transportation fabric.
- Canada's E-bike charging time is consistently reducing, reflecting the country's focus on promoting electric mobility and sustainable transport solutions.
- Canada's GDP per capita shows resilience with consistent growth post-2020, highlighting a recovering and stable economy.
- Canada's bicycle rental market rebounded strongly post-2020 and is on a steady path of growth, projecting a positive trend into 2029.
- Canada's hyper-local delivery sector is expanding steadily, reflecting a growing consumer preference for localized and convenient online shopping options.
- Canada exhibits a steady increase in the number of trekkers, reflecting the country's rich natural landscapes and growing popularity of trekking as a leisure activity.
- Canada's Traffic Congestion Index shows a slight downward trend, suggesting marginal improvements in traffic management or changes in commuting patterns.
