Tag Archive: market data

  1. Global micromobility market predicted to be worth $250 billion by 2035

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    Source: ZAG Daily

    According to McKinsey and Zag Daily, the global micromobility market is anticipated to reach $520 billion by 2035. This projection marks a substantial increase of $360 billion from its current value and $180 billion from McKinsey’s previous estimate for 2030.

    The unveiling of McKinsey’s findings precedes a panel discussion titled ‘McKinsey’s Latest Micromobility Market Sizing and Consumer Insights,’ scheduled to be hosted by Associate Partner Anja Huber and Expert Darius Scurtu at the Micromobility Europe expo in Amsterdam.

    The main underlying drivers for our predictions on the global micromobility market are regulation and consumer behaviour,” Darius Scurtu from the McKinsey Center for Future Mobility said.

    We expect that cities and countries will continue to support micromobility to reach their climate targets as one of many “sustainable” modes, and thus further invest in micromobility infrastructure, provide purchase subsidies, or partner with private micromobility operators.

    We also see rising consumer interest to integrate micromobility into their everyday lives, since modes such as e-bikes allow for longer trips and more use cases, and since micromobility will often become the cheaper and more convenient mode of travel compared to private cars, particularly in inner cities.”

    Market dynamics

    Currently, the top five European countries collectively command nearly 50% of the European micromobility market, totalling a value pool of $29 billion. Among these leading markets, Germany, France, and the UK claim the top spots. McKinsey defines value pools as encompassing one-time vehicle sales along with downstream revenues such as aftermarket services and maintenance.

    Attributing the dominance of these markets to factors like population size, pricing of micromobility vehicles, and existing bicycle infrastructure, McKinsey predicts market consolidation over the next three years, with slower uptake compared to initial forecasts due to subdued consumer demand.

    E-bikes and consumer preferences

    McKinsey’s research also reveals that e-bikes presently constitute nearly 40% of Europe’s micromobility market, valued at approximately $22 billion. This segment is projected to grow at a rate of 13% annually, reaching $110 billion by 2035. The increasing preference for e-bikes is evident from consumers’ willingness to spend 9% more on their next bicycle purchase, driven by factors like convenience and expanding use cases.

    Darius emphasized the versatility of e-bikes, which cater to various needs effortlessly, making them more appealing to consumers compared to conventional bikes or other micromobility options. Their Mobility Consumer Survey from 2024 indicates that a majority of e-bike owners use their vehicles for everyday commuting, underscoring its popularity among global consumers.

  2. CoMo Bike Share Annual Reports, UK and Scotland

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    Source: CoMoUK

    The CoMoUK annual Bike Share Report (released for the UK and Scotland) provides key insight into understanding the performance and impacts of the UK’s bike share schemes.

    The 8th annual report provides new insights into the impact of bike share schemes, with CoMoUK highlighting “It provides new evidence for the positive environmental, economic and social effects of bike share schemes on individuals and communities. More than two thirds of respondents reported an increase in their trips by bike. This will be supported by greater access to e-bikes. E-bikes now outnumber conventional pedal bikes in the fleets of UK bike share schemes. 57% of the approximate 25 million hires per year, (between September 2022 and September 2023), were made with e-bikes.

    Key findings

    1. Bike sharing motivates people to take up cycling.

    UK (left), Scotland (right)

    2. Bike share incentivises more cycling journeys.

    UK (left), Scotland (right)

    3. Bike share increases levels of physical activity.

    UK (left), Scotland (right)

    4. Bike share reduces Carbon emissions

    UK (left), Scotland (right)

    Click here to access the UK’s full report.

    Click here to access Scotland’s full report.

  3. Multiscope E-bike Monitor: The latest updates in the e-bike, e-scooter and LEV market

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    Source: Multiscope

    Multiscope has launched the fourth edition of its E-bike Monitor, a comprehensive study focusing on electric bicycles, electric scooters, and other light electric vehicles (LEVs) within the Netherlands. This report offers insights into various aspects of the market, encompassing providers, insurance, maintenance, usage patterns, and user satisfaction levels.

    What can you expect?

    The study delves into the market landscape, addressing over 50 pertinent research inquiries. Key questions explored include the size of the Dutch market for e-bikes, e-scooters, and LEVs, expenditure trends on these vehicles, market expansion dynamics, and average prices for both new and used units. Additionally, the report identifies major providers and insurers, along with user satisfaction levels for different service providers.

    The E-bike Monitor holds relevance for all Dutch organizations and businesses directly or indirectly associated with e-bikes, e-scooters, and LEVs. This encompasses roles in development, sales, consultation, maintenance, and insurance services related to these products.

    The report covers numerous providers such as Amslod, Batavus, Cortina, Cube, Flyer, Gazelle, Giant, Koga, Sparta, Stella, Trek, and Vogue Bike, as well as insurers like Allianz, ANWB, Centraal Beheer, ENRA, FBTO, Interpolis, Kingpolis, Unigarant, and Univé.

    For further information, please see the website, table of contents, and brand list.

    Key findings

    • Ownership of e-bikes, e-scooters, and LEVs is stagnating
    • There’s a difference between online and offline purchase prices
    • Used city bikes are significantly cheaper
    • There are different market leaders in online and offline insurance
  4. Global micromobility market to be worth $340 billion by 2030

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    Source: ZAG Daily

    According to a recent report by McKinsey, the global micromobility market is projected to grow to $340 billion by 2030, a significant increase from approximately $160 billion in 2022. Europe is expected to contribute the largest portion of this value, with an estimated $140 billion by 2030, up from $60 billion in 2022.

    Kersten Heineke, Co-Leader for Future Mobility at McKinsey Center, emphasized “We believe that regulation is the key market driver for micromobility, next to macroeconomic developments such as population and GDP, consumer behaviour and new emerging technologies,”

    Almost 60% of metropolises in the EU and US support micromobility through different forms of investment schemes, infrastructure projects or urban vehicle access restrictions. Within these, we have particularly seen European cities and countries as frontrunners, which in turn is driving the market development.

    The surge in market value is primarily fueled by the increasing popularity of e-bikes, which offer a wider range of applications compared to e-scooters, including cargo transport, and boast a better total cost of ownership than e-mopeds. Government subsidies targeting e-bicycles and growing interest from employers, particularly in Germany, are further accelerating this trend.

    Heineke added, “Additionally, we currently see government subsidies specifically targeting e-bicycles, and also employers increasingly see the electric bicycle as a good alternative to the car when it comes to corporate leasing schemes, particularly in Germany.”

    McKinsey plans to provide an updated assessment of market size at the upcoming Micromobility Industries conference in June.

  5. Fluctuo European Index Annual Review out now

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    Source: Fluctuo

    The latest report analyses 115 European cities as well as the entire European market on shared mobility. 2023 was the year of transition in the industry, with lay-offs, mergers and acquisitions dominating the news in operators pursuit towards profitability. We dive into some of the highlights below.

    European Market

    The aftermath of the Paris scooter ban wasn’t as severe as initially feared, it did instil a sense of unease. Major cities like Rome, Berlin, and Brussels significantly reduced the number of scooter operators and vehicles. At a European level, there’s been a tightening of regulations imposed by cities.

    Following significant fundraising between 2018 and 2021, operators encountered challenges securing additional funding. Consequently, they’ve had to adopt frugal practices, meticulously managing costs, raising prices, exiting unprofitable markets, and implementing layoffs. Nevertheless, they’ve begun to introduce new offerings, with shared bikes gaining prominence.

    These efforts are yielding results. Dockless bike usage surged by over 50% in 2023, surpassing scooters that dominated the market from 2019 to 2022. Station-based bikes and free-floating cars are also experiencing robust growth.

    Some operators secured their immediate future through mergers (such as ShareNow and Free2Move, TIER and Dott), while others, like Reby, Superpedestrian, and Cityscoot, succumbed.

    Economic viability remains central to discussions in 2024. Will revenue from end-users suffice for profitability, or will public funding be necessary to bridge the gap, akin to the majority of station-based bike services?

    Our projections for ridership and revenue in 2024 are optimistic,” asserts Julien Chamussy, CEO of Fluctuo. “The exit of certain operators and increased tender calls will pave the way for European champions. While there may be reduced competition, the financial stability and operational control of remaining players will facilitate the continued growth of shared mobility services, benefiting European cities and their residents.

    Ryder Cup of shared mobility

    Europe continues to dominate the shared mobility market compared to North America, with a fleet size almost three times that of North America.

    Car sharing

    Car sharing continues to grow across the board, with rentals increasing by 39% and fleet size increasing by 25%, with the fastest growing markets in Germany, Belgium, Netherlands, Norway, and Denmark.

    The full report can be downloaded here.

  6. Mintel UK bike market prediction expects £1 billion in 2024

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    Source: Cycling Industry News

    The UK bike market is anticipated to undergo a positive shift in 2024, as indicated by the latest forecast from Mintel. The projections highlight growth areas in e-bikes, second-hand bicycles, and increased female participation in cycling.

    According to the research, new bicycle sales are expected to climb 12% in 2024, reaching 2.1 million bikes. This marks a recovery from previous years’ 11% decline to 1.9 million bike sales. This represents a total 42% drop from the peak in 2020 when 3.3 million bikes were sold.

    The forecast also predicts a 15% increase in the value of new bike sales, reaching nearly £1 billion (£998 million) in 2024. This follows a 15% decline in annual sales to £868 million in 2023, continuing a gradual fall in yearly bike sales since 2020.

    However, the prediction of rising bike sales in 2024 may spark debate within the industry, with high inventory levels and consumer spending power combining to limit market potential. The market has witnessed notable difficulties, including high profile administrations, redundancies, buyouts, and rescue loans in response to challenging market conditions.

    Mintel’s report also anticipates growth in the UK’s e-bike market, with electric assist bicycles being the preferred choice for cyclists in the coming year. Approximately 19% of prospective bike buyers plan to purchase an e-bike, signalling a potential uptick in this segment.

    Of particular interest is the increasing interest in cycling among women aged 16-64, with over 40% of women under 45 and 34% of those aged 45-64 expressing interest in cycling. This is interesting to contrast with recent discussions on women’s cycling experiences in London.

    Furthermore, the report highlights a growing preference for second-hand bicycles, posing a potential threat to new bike sales. Half of current and potential cyclists indicate a greater likelihood of considering a used bicycle compared to the previous year.

    Mintel’s Category Director for Leisure Research underscores the impact of rising living costs on demand for new bikes, citing a recovery in demand driven by easing inflation, wage growth, and retailer discounts. The cost of living has also led 34% of Brits to cycle more to reduce spending on petrol and public transport. Looking ahead, continued investment in cycling infrastructure and a focus on sustainable travel are expected to further drive demand. Nevertheless, the expanding second-hand market, including major players like Halfords, presents a challenge to the growth of new bike sales.

  7. Belgian bicycle logistics figures provide insight into growth potential

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    Source: fietsberaad Crow

    About 33 percent of the pre- and post-transport during the delivery of packages in Belgian cities could be done by bicycle, according to the Belgian Cycle Logistics Federation in its first Barometer of the bicycle logistics sector. Currently it is estimated that it is only one percent.

    The bicycle logistics sector in Belgium is growing rapidly, in the past two years the number of delivered packages grew from 250 thousand to 850 thousand and turnover and the number of people working in the sector doubled. They cycled more than a million kilometers in 2022 and a package delivered by them had a factor of 40 less CO2 emissions than with a conventional van.

    But things can still be much better, according to the Belgian Cycle Logistics Federation, an association of Belgian bicycle logistics companies with the aim of achieving the full potential of bicycle logistics to combat climate change, offer fair and good jobs in the transport sector, and participate in creating liveable and sustainable cities.

    In addition to data about the sector, the Barometer also contains a questionnaire survey among 55 bicycle couriers about the content of their work, how they experience it and what kind of contract they have. The challenges of the sector have also been identified. The most important one is that bicycle logistics is not yet sufficiently known among relevant stakeholders, which means that it is overlooked as a solution. Secondly, the sector still faces an economic challenge because it is relatively new. And thirdly, it is important that good quality infrastructure is created so that bicycle couriers can do their work safely. Finally, the barometer contains an overview of lessons from practice and a plan to further develop bicycle logistics in small steps to a market share of 33 percent.

    The Belgian Cycle Logistics Federation wants to publish this barometer annually from now on to map the progress of the sector.

  8. E-bike market in India surges by nearly 40%

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    Source: Quartz

    The e-bike market adoption rate in India soared by 39%, from 4.05% in 2022 to 5.63% in May this year, according to government data.

    Notably, states including Goa, Kerala, Karnataka, and Maharashtra, alongside 6 others, surpassed the national average of 5.63% adoption rate, with Goa topping the list at 17.2%, according to registration data from Vahan, a central government vehicle portal.

    The top 4 states exceeded a 10% market growth rate, a significant jump from the 1% recorded in 2019. India has set a target for electric vehicles (EVs) to constitute 80% of its two-wheeled market by 2030. In addition to central government subsidies, various states have implemented favourable policies including tax benefits, efficient scrappage programmes, lower power tariffs, and expanded charging infrastructure, contributing to the industry’s growth.

    EV industry growth in India

    Despite representing a relatively small portion of the overall two-wheeled sales, with 392,681 electric units sold out of 6.98 million by May 2023, the growth it represents is evident. The Society of Manufacturers of Electric Vehicles reported that sales of electric two-wheelers in India rose to 846,976 units in 2022-23’s fiscal year, a two-and-a-half-fold increase from the previous year’s 327,900 units.

    Bain & Company stated in December 2022 that two and three-wheeled transportation will be the frontrunners in EV adoption, projecting a 40-45% market penetration rate by 2030.

  9. Dutch e-bike insurance market grows to €550 million

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    In the past year, the Dutch spent €550 million on insuring their electric bicycles.

    Source: Multiscope

    On average, insurance costs €14 per month. The most popular provider in this insurance market is ANWB. Hybrid bicycles are most often insured (73%). This is evident from the third edition of the E-bike Monitor, a large-scale study by Multiscope among more than 5,000 Dutch people.

    Sharp increase in the e-bike insurance market

    The total e-bike insurance market currently has an annual value of €550 million. Last year it stood at €313 million. This increase is due to the growth in the number of e-bikes, and higher monthly insurance costs. On average, these costs currently amount to €14 per month. Insuring a hybrid bicycle is the most expensive, costing an average of €16 per month. 5% of e-bike owners report a bike having been stolen in the past.

    ANWB most popular insurer

    Most e-bikes are insured through ANWB. In addition to ANWB, ENRA, Kingpolis and Univé also occupy a large part of this insurance market. Unigarant, Allianz and Interpolis follow at some distance. It is striking that 13% of the Dutch do not know with whom their electric bicycle is insured.

    Hybrid bicycles most insured

    Six out of ten electric bicycles are insured. This share is remarkably higher for electric hybrid bicycles (73%). Electric cargo bikes and folding bikes, on the other hand, are insured less often, at 40% and 30% respectively. In general, it can be said that the higher the value of an electric bicycle, the more often it is insured.

    About Multiscope

    Multiscope is a specialist in online market research. We support companies and organizations in making the right decisions through online panels, market reports and innovative research solutions.

    The results in this press release come from the third edition of the E-bike Monitor, a large-scale survey of electric bicycles, electric scooters and light electric vehicles in the Netherlands. The survey surveyed 5,063 respondents aged 18 and over, representing the Dutch population.

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