Changes in the 2024 E-bike Market Share Across European Countries

　   Ambitious Projections Meet Reality: E-bike Market Growth Slows Across Europe Despite Green Mobility Push

      Can the European e-bike market truly reach the 70% or even 80% share of the total bicycle market as some industry insiders have predicted?When looking at the market share of e-bikes in Austria,Germany,the Netherlands,France,Italy,the UK,Spain,and Switzerland,it becomes evident that sales have slowed down,with some markets even experiencing shrinkage.

　　The momentum behind the green mobility transition has not waned,but the growth of both bicycles and e-bikes is decelerating.Sales data released by national industry associations clearly reflect this trend.

(Source: Unsplash)

          E-bike Penetration in Europe Slows Down Amid Market Stabilization and Economic Pressure

　　In all the countries mentioned above,the overall size of the bicycle market has either declined or remained flat.However,the penetration rate of e-bikes across European countries continues to increase.Against the backdrop of excess inventory and challenging financial conditions,how has e-bike market penetration changed in Europe in 2024?

　　Last year's 2023 statistics already indicated that,after more than a decade of uncontrolled expansion,the e-bike market had begun to stabilize.At that time,the European market reported an overall decline of 8%.Now,with the release of the 2024 figures,we see a total decline of 12 percentage points over the past two years.

　　Chart:Year-on-Year Percentage Change in E-bike Market Share in Europe(2024)

　　Last year,a total of 4,067,517 e-bikes were sold across these countries—a 4.97% decrease from the 4,280,199 units sold in 2023.Some countries reported significant drops in e-bike sales.France,once a rising star over the past decade,saw sales plunge by over 15%,with e-bike market share falling back below one-third.Spain lost nearly one-fifth of its e-bike market.In Germany,Europe's largest e-bike market,sales volumes remained virtually unchanged.The only exception was Austria,which saw a modest increase of 2.53%,reaching 5,574 units sold.Considering the massive discounts and joint promotional campaigns by brands and distributors across Europe,a near 5% drop in sales is indeed significant.

　　Chart:Changes in E-bike Market Share by Country,2017–2024

　　(Data source:Bike-eu)

　　Promotional efforts also caused notable shifts in average retail prices.Except for the UK and Switzerland,the average price of e-bikes fell by 3.2% across all markets,dropping from €2,770 in 2023 to €2,681 last year.The dual impact of slower sales and declining average prices had a major effect on the market's total value.Within just one year,the market value shrank by 7.8%,falling to€10.1 billion.

　　Long-term Outlook for E-bikes

　　The e-bike market in 2019 is often regarded as a benchmark.That year,Austria,Germany,the Netherlands,France,Italy,the UK,Spain,and Switzerland collectively sold 2,979,566 e-bikes.This means the e-bike market has grown by 6.4% over the past five years.If this growth trend continues over the next decade,the combined e-bike market in these eight countries could exceed 7.5 million units.