Market Trends of europe e-cargo bike Industry
Germany stands out with its notably high adoption rates, indicating a mature market and strong consumer acceptance.
- Europe has witnessed a significant demand for e-bicycles over the past few years. Rising fuel prices, traffic jams during peak hours, and exercise benefits are some of the factors responsible for the increasing adoption rate of e-bikes in European countries, such as the United Kingdom, Italy, Spain, and Germany. Denmark accounted for the major share of e-bike sales and had a higher adoption rate in 2019 than other countries in the region, such as Luxembourg. The growing demand for e-bikes further accelerated their adoption rate across Europe.
- The growing number of COVID-19 cases affected the bicycle business positively. As people avoided public or rented transportation to maintain social distancing, they changed their commuting methods and invested in e-bikes as a convenient and price-friendly option. Such factors accelerated the adoption rate of e-bikes in 2020 across Europe.
- The resumption of business operations and the relaxation of restrictions, such as lockdowns and trade activities, boosted the adoption of e-bikes and increased the import and export activities in the region. The growing consumer interest in e-bikes is expected to increase their adoption in the region during the forecast period.
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The UK and Germany are key contributors to the region's Hyper-Local Delivery market, both showing a steady increase in volume.
- E-bikes are becoming highly popular across Europe. The share of online buyers increased by 80.25% in the last five years since 2017, which also increased pollution and traffic congestion in the region. Thus, due to these problems, logistic businesses are opting for a more convenient and cleaner option, i.e., an e-bike, for deliveries. The Netherlands accounted for the highest number of e-bike deliveries in 2019, followed by Denmark and the United Kingdom. The use of e-bikes for local deliveries in the region grew by 11.73% in 2019 over 2018.
- Various parcel and courier companies are making efforts to deploy e-bicycles as last-mile logistics options over large carbon-emission vehicles. In September 2020, FedEx announced that it was testing electric cargo bikes for parcel deliveries in London and Amsterdam. The company also announced that the initial results of the pilot testing were very good and planned to extend the services to other cities in the region. E-bicycle deliveries in Europe increased by 24.99% in 2021 over 2020.
- The e-bike market is developing in various countries across the region due to the cost advantages of these bikes over alternative fuel-powered vehicles, as well as time efficiency, fuel efficiency, eco-friendliness, and lower maintenance costs. Subsidies offered on e-bikes by the government also provide another advantage to vendors. Therefore, last-mile local deliveries made by e-bikes are projected to rise in Europe during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Europe's total bicycle sales indicate a resilient market with growth, especially post-2020, highlighting an increased interest in cycling across the continent.
- Germany and the UK face significant inflation peaks before a return to normalcy, marking a period of economic recalibration.
- Germany and the UK show notable market values, but Italy and Poland demonstrate robust growth rates, diversifying the European bicycle rental landscape.
- Germany and the Netherlands are prominent in expanding dedicated bicycle lanes, indicative of the region's strong focus on cycling infrastructure.
- Belgium experiences increasing traffic congestion, contrasting with the Netherlands and Austria, which have the lowest and decreasing congestion rates in the region.
- The overall trend indicates a strong and growing economy across Europe, with a temporary dip in 2020.
- Steady growth in 5-15 km commutes, especially in Belgium and the Netherlands, reflects efficient transportation and urban planning.
- Prices across countries like Germany, UK, and France are converging towards the regional average, showing a uniform downward trend.
- Europe's decrease is consistent, with Germany and Belgium having the fastest decline, while Italy and Spain's rates are moderate.
