Europe Electric Bike Market Assess the Trends, Opportunities and Competition in the Market

The concerns regarding greenhouse gas (GHG) emissions have been surging across the globe. GHGs, such as methane, carbon dioxide, fluorinated gases, and nitrous oxide, trap heat in the atmosphere. Therefore, the growing emissions of these gases have been resulting in global warming, thus, further leading to the deteriorating condition of the Earth. The burning of fossil fuels for generating energy for different purposes is the primary culprit behind the emission of GHGs into the atmosphere. Because of this, government in different regions across the globe, including Europe, has been trying to come up with solutions which can aid in dealing with this problem.

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Since vehicular emissions have led to a significant increase in the air pollution levels, making use of alternative fuels in automobiles can considerably help in curbing down pollution. Attributed to this and technological advancements, electric vehicles have been developed, which make use of electrical energy rather than petrol or diesel. As more people are becoming aware regarding the advantages of clean transportation and the environmental problems, the demand for electric vehicles has been rising substantially, which includes two-wheelers.

As per a report by P&S Intelligence, in 2018, the European electric bike market reached a value of $167.2 million and is predicted to generate revenue of $892.4 million by 2025, advancing at a 26.2% CAGR during the forecast period (2019–2025). Among high-power motorcycles, scooters, and low-power motorcycles, electric scooters are predicted to be the most in demand in the coming years. This is due to the rising government support, such as the imposition of hefty taxes on traditional fuel-based vehicles and tax incentives on the purchase of electric vehicles, all across Europe. Moreover, electric scooters do not require insurance, driving license, inspection, and parking permit, which is why people prefer them over motorcycles.

In conclusion, the demand for electric two-wheelers in the European region is growing due to the increasing concerns regarding the environment.