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Europe E-bike Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

  • ID: 5012408
  • Report
  • February 2022
  • Region: Europe
  • 110 Pages
  • Mordor Intelligence


  • Accell Group
  • Cyclotricity
  • Giant Bicycles Co. Ltd
  • Merida Industry Co. Ltd
  • QWIC
  • Sensa Bikes
The European e-bike market was valued at USD 9.01 billion in 2021, and it is expected to reach USD 18.26 billion in 2027, registering a CAGR of 12.97% during the forecast period (2022 - 2027).

The COVID-19 pandemic initially disrupted the growth of the e-bike market. Post-pandemic, consumers started inclining toward e-bikes across Europe as the pandemic elevated the necessity of personal commutation over public transportation.

Apart from the increasing consumer preference toward recreational and adventure activities, the rising adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is also expected to drive the market studied during the forecast period. In addition, growing environmental awareness and initiatives prompted by the governments to encourage electric vehicles further support demand in the market.

Germany is expected to play a key role in the European e-bike market, followed by the Netherlands and France, owing to the growing number of riders and users of eco-friendly transportation for daily commuting. Moreover, the presence of key players and their active engagement in the market through product launches, strategic partnerships, etc., are expected to further stimulate demand in these regions.

Key Market Trends

Rising Adoption of E-bikes Across Various Sectors to Drive the Market

Apart from being viewed just as a cleaner and greener mode of transport for short distances, e-bikes are finding varied uses across Europe in different sectors and applications. Europe is home to numerous travel destinations. To encourage the adoption of e-bikes by tourists due to its benefits, some tourism companies are exclusively offering packages termed as ‘Cycling Holidays'.

Drug stores and other emergency-related services have also started deploying e-bikes on sub-urban lanes of Europe to deliver essential services and items over short distances. In this way, they are able to avoid traffic situations in some densely populated areas and attend to the needy in a quicker manner.

Moreover, in August 2019, a study pertaining to the physical exercise offered by e-bikes, which researched more than 10,000 adults across seven European countries, was published in the Transportation Research Interdisciplinary Perspectives journal. It also found that e-bike riders ended up getting more exercise than pedal bike cyclists as they spend more time on their e-bikes.

Taking this as perspective, some wellness and fitness centers have also started introducing exercise programs involving e-bikes rather than the traditional cycling equipment used indoors. Other applications also include Croatia using e-bikes for postal delivery services. Thus, these aforementioned factors indicate the growing adoption of e-bikes across multiple sectors.

Germany Anticipated to Hold Significant Share in the Market

The e-bike industry in Germany has already enjoyed dynamic growth over recent years, but 2020 set all records in volume expansion and growth in turnover. According to the 2020 market statistics of the German industry association ‘Zweirad-Industrie-Verband (ZIV)’, e-bike sales volume witnessed a surge of over 43%, and market share grew from 31.5% to 38.7%.

Some of the major reasons considered for adopting e-bikes are the health benefits, environmental benefits, reduction in expenditure, avoidance of traffic congestion, and the increase in demand for e-bikes as sports equipment among youth. E-bikes in Germany are the preferred mode of mobility for sports and leisure.

In addition, the presence of key players like VW and Gazelle also to further augment the growth of the e-bikes market. Innovative solutions and offers designed by players operating across Germany are anticipated to further enhance the penetration rate of e-bikes across Germany. For instance, in August 2021, a German startup, Dance, launched its subscription service in its hometown of Berlin. For a flat monthly fee of EUR 79, users get a custom-designed electric bike and access to an on-demand repair and maintenance service.

Apart from these, product launches and delivery of new e-bike models are expected to further support demand in the market during the forecast period. For instance, in July 2021, Hero Lectro delivered the first batch of 200 e-bikes to Germany. The company also partnered with Fast Despatch Logistics and Turtle Mobility for deploying last-mile delivery cargo e-bikes.

In light of the above-mentioned instances and developments, Germany is expected to stand as an attractive destination for investors operating in the e-bike market over the forecast period.

Competitive Landscape

The European e-bikes market is extremely fragmented, with major players like Giant Bicycles, Accell Group, Riese & Muller, and M1 Sporttechnik holding less than 20% of the total market share.

While new companies, which were earlier not part of the European market, have also been researching the market studied and have been planning to tap the fragmented sector, the existing players are engaged in several growth strategies like product launches, expansion, etc., to improve their market share and revenue. For instance,
  • In October 2020, Powabyke UK Ltd secured the Italian brand's sole UK distribution rights, MBM, for its entire range of bikes and e-bikes. The stock arrived in bike dealerships around the country.
  • In January 2020, India-based Hero Cycles Ltd acquired a stake in the German e-bike manufacturer HNF Nicolai. The company aims to enter the European market through this acquisition.
  • In January 2020, VanMoof launched the bike industry’s first augmented reality purchase experience. The new AR tool, which is integrated into Vanmoof’s website and online ads, allows users to place a virtual electrified e-bike and explore the high-tech features without visiting a VanMoof brand store and waiting for home delivery.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • Accell Group
  • Cyclotricity
  • Giant Bicycles Co. Ltd
  • Merida Industry Co. Ltd
  • QWIC
  • Sensa Bikes

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Government Regulations, Incentives, and Manufacturing Standards
5.1 By Propulsion Type
5.1.1 Pedal-assisted
5.1.2 Throttle-assisted (Power on Demand)
5.2 By Application Type
5.2.1 City/Urban
5.2.2 Trekking (E-mountain Bikes/e-MTB)
5.2.3 Cargo
5.3 By Country
5.3.1 United Kingdom
5.3.2 Germany
5.3.3 France
5.3.4 Italy
5.3.5 Belgium
5.3.6 The Netherlands
5.3.7 Denmark
5.3.8 Spain
5.3.9 Rest of Europe
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Trek
6.2.2 Pedego Electric Bikes
6.2.3 Royal Dutch Gazelle
6.2.4 Yamaha Bicycles
6.2.5 Accell Group
6.2.6 Giant Bicycles Co. Ltd
6.2.7 Merida Industry Co. Ltd
6.2.8 Lekker Bikes
6.2.9 Sensa Bikes
6.2.10 Kalkhoff
6.2.11 VanMoof BV
6.2.12 Cortina Bikes
6.2.13 Ampler Bikes
6.2.14 Cytronix
6.2.15 Desiknio
6.2.16 Cyclotricity
6.2.17 Powabyke UK Ltd
6.2.18 QWIC
6.2.19 Riese & Muller
6.2.20 Fritzmeier Systems GmbH & Co. KG (M1 Sporttechnik)
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Trek
  • Pedego Electric Bikes
  • Royal Dutch Gazelle
  • Yamaha Bicycles
  • Accell Group
  • Giant Bicycles Co. Ltd
  • Merida Industry Co. Ltd
  • Lekker Bikes
  • Sensa Bikes
  • Kalkhoff
  • VanMoof BV
  • Cortina Bikes
  • Ampler Bikes
  • Cytronix
  • Desiknio
  • Cyclotricity
  • Powabyke UK Ltd
  • QWIC
  • Riese & Muller
  • Fritzmeier Systems GmbH & Co. KG (M1 Sporttechnik)
Note: Product cover images may vary from those shown