PROPULSION SEGMENT MARKET OVERVIEW
- In Australia, cycling is a common activity for the population. Men participate in cycling at a significantly higher rate than women, suggesting that men ride more frequently than women. Around 34.2% of people rode bicycles in 2017, recording a slight decline from 2016. In Australia, sales of e-bikes are growing quickly, and the import of e-bikes tripled in the past three years. The government has since announced that there would be a 5% charge for importing e-bikes. The increased tax would not apply to countries with free trade agreements with Australia, such as China, Cambodia, Indonesia, and the United States, but it might increase the price of e-bikes made in Taiwan, Europe, and India.
- According to the Australian Automobile Association, traffic congestion has caused an average reduction in driving speeds of 3-8% in the country's major cities. If significant policy changes are not made, congestion costs are predicted to reach between USD 27.7 and USD 37.3 billion by 2030. On the other hand, rising fuel prices, worsening traffic, growing interest in exercise and health, and increasing environmental consciousness are the key forces driving the Australian e-bike market. The demand for e-bikes is also driven by an increasing interest among the population in preserving the environment for future generations, primarily by combating environmental problems and the depletion of natural resources.
- Two recent breakthroughs that have had a substantial impact on the market dynamics for electric bicycles in Australia are the launch of high-end electric bicycles and the introduction of high-tech speed pedelec bikes with smartphone integration. The pedal-assisted segment held the biggest share of the Australian e-bike market during the historical period (2017-2022), but the speed pedelec segment is anticipated to be the fastest-growing segment over the forecast period.
Australia E-bike Market Trends
Australia's E-Bike adoption rates show steady growth, indicating an increasing market presence and consumer interest.
- In Australia, e-bike sales are increasing at a rapid pace. The popularity of e-bikes for short distances and leisure activities has significantly increased in recent years. Since they do not require gasoline or other petroleum-based fuels, e-bikes are affordable and accessible, as well as environmentally benign. These vehicles are intended to fit into tight spaces and readily maneuver through congested areas. The rising number of trips per vehicle and supporting rules are likely to aid the market's growth during the forecast period.
- As per the Australian Vehicle Standards, e-bikes can be ridden on the road if the motor does not provide more than 250 watts of maximum continuous power and if the vehicle cannot travel more than 25 km/h with throttle assistance. Electric bike manufacturers are now targeting the Australian market, so supply and options are also expected to increase. The development of premium folding e-bikes and the introduction of high-tech electric bikes with smartphone integration are two emerging trends that are expected to directly influence the dynamics of the electric bicycle industry in Australia and drive the market during the forecast period.
Australia exhibits a gradual rise in the population commuting 5-15 km daily, reflecting evolving commuting distances.
- The demand for bicycles has been increasing gradually across Australia. Public transportation is the country's most popular mode of transportation, and comparatively, fewer people choose to commute by bicycle. Commuters using bicycles to travel between 5 and 15 kilometers increased in 2020 over 2019 as more people began to exercise and use bicycles for nearby areas, such as markets. However, commuter travel between 5 and 15 kilometers is still relatively low compared to other modes of transportation in Australia.
- The COVID-19 pandemic significantly impacted the Australian bicycle market as more people opted to bike or walk to work rather than use public transportation to maintain social distancing. Following the pandemic's impacts, fewer individuals took public transit, which increased the number of daily bicycle commuters in 2021 compared to 2020. The advancements in e-bikes and the introduction of cutting-edge features like longer battery lives encouraged more people to opt for bicycles, which resulted in a rise in commuters traveling between 5 and 15 kilometers on bicycles in Australia in 2021.
- For routes between 5 and 15 kilometers, people now commute by bicycle, including trips to their places of employment, business, and markets. The number of persons using bicycles for transportation to work increased in 2022 over 2021. Development in bicycle infrastructure in the country is expected to contribute to the growing number of bicycle commuters in Australia.
Australia E-bike Industry Overview
The Australia E-bike Market is fragmented, with the top five companies occupying 32.83%. The major players in this market are Giant Manufacturing Co., Groupe Sportif Pty Ltd, SHIMANO INC, Specialized Bicycle Components and Trek Bicycle Corporation (sorted alphabetically).Additional Benefits:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Dyson bikes
- Giant Manufacturing Co.
- Groupe Sportif Pty Ltd
- Merida Industry Co Ltd
- NCM Bike
- Norco
- Pedego Electric Bikes
- Riese & Müller
- SHIMANO INC
- Specialized Bicycle Components
- Trek Bicycle Corporation
Methodology
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