Tag Archive: market data

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. LEVA-EU Member Stromer sees 17% sales growth in 2022

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    Despite the challenges seen in global supply chains and an evolving workstyle, the speed-pedelec producer has enjoyed continued success.

    Stromer (myStromer AG) proudly reported a 17% growth in sales during 2022. The ST3 with Pinion gear was the most sold model, while the new high-end flagship ST7, the world’s first s-pedelec with electronic shifting Pinion Smart.Shift and Carbon Belt Drive, raised the bar for reach and power. In Benelux, Stromer is a leader in terms of market share (Belgium: 37% with a growth of 3% compared to the previous year; the Netherlands: 49.7% with a growth of 11%).

    Although the year presented challenges to the entire e-bike industry, including difficulties in supply chains and currency fluctuations, Stromer’s market position in Switzerland maintained its standing and the German market recorded double-digit growth.

    Co-CEO Tomi Viiala summarizes: “A 17% growth in 2022 shows that we are on the right track with Stromer and our offering. I believe that the subject of mobility in Europe and North America is still in its infancy and will continue to generate significant growth for the entire industry. We also see this positive trend in our Stromer customers, who drove 30 million km more in the past year than in the COVID year. In total, Stromer s-pedelecs have covered 99 million km in 2022.”

    myStromer’s 2023 Prospects

    In 2023, Stromer is again targeting double-digit growth as the s-pedelec market is projected to continue developing positively. To assist in this goal, additional staff will join the team with a strategic focus on retail support and sales, including a US-focused team.

    To support the expansion of the German s-pedelec market, myStromer, together with the lobby office Politik + Strategie and other manufacturers, is supporting the Allianz Zukunft S-pedelec project. Together with national partners, Stromer will offer innovative financing solutions for companies and individuals. Stromer is the first bicycle brand ever to launch an all-inclusive leasing solution with AMAG in Switzerland, covering all costs for maintenance, insurance, or new tires for the duration of the leasing contract.

    Co-CEO Karl Ludwig Kley adds: “We look forward to 2023 with confidence and a solid capital base. Over the past year we were able to take measures to secure our supply chains and increase production capacity for the future, this allows us to respond flexibly to market influences. In addition, we are constantly developing  on our existing product range and new innovations to further expand our market position.”

    Shifts in leadership structure

    Stromer enters 2023 with a few leadership changes. Tomi Viiala, who previously held both the position of Co-CEO and global leadership of Sales, will fully concentrate on his role as CEO in tandem with Karl Ludwig Kley. The position of Global Sales Director will be filled with immediate effect by Kobe Broos, who has led the Benelux Sales team since 2018 and has been General Manager for Benelux since 2021. Pieter de Greef will become the new General Manager of myStromer B.V., while he continues to exercise his position as Head of Retailer Support. Both Broos and de Greef bring years of experience from the automotive sector.

  6. 42% of Dutch own light electric vehicles

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    Source: Nederland Elektrisch, M. de Jonge Baas

    A new large-scale study by E-bike Monitor estimates 14.2 billion euros worth of light electric vehicles, including e-bikes and e-scooters, are currently owned by the Dutch.

    The study concluded that 42 percent of Dutch individuals over the age of 18 own one or more light electric vehicles, equating to 6 million LEV riders and 6.2 million vehicles. The study had a sample size of 5,000.

    Within this bracket, electrical bicycles hold the largest share, with the number of owners growing from 4.6 million to 5.5 million in the last year alone. This equates to an €11.8 billion market value, with the total LEV market growing 24% to reach a value of €12.4 billion.

    Alongside a growing market share, the price of electric vehicles also rose in the last year, with the average cost for a city e-bike rising from €1,876 to €2,036.

  7. E-bikes get more Dutch commuters into the saddle – KiM

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    Source: fietsberaad

    Increasing amounts of Dutch people are investing in electric bikes to travel to and from their place of work. Researchers at the Knowledge Institute for Mobility Policy (KiM) expect this trend to continue, though it is noted that e-bikes primarily replace traditional bicycles.

    Due to the possibility of faster travel with less effort, the number of new electric bicycles has been on the rise since 2018, overtaking the sales of regular touring and city bicycles. In 2021, approximately 52% of the 923,000 new bicycles sold were e-bikes. The number of electric bicycle owners, estimated at 3.6 million in 2021, will continue to grow in the coming years, conclude the KiM researchers in their report on the purchase and use of e-bikes.

    More than 1 in 5 Dutch citizens that do not yet own an e-bike plan to purchase one within the next 5 years, including a large group that plans to use the technology for their home-work journey.

    With working Dutch people willing, on average, to travel up to half an hour via e-bike, approx. 10km, about 60% of all commutes could be replaced by this transport type. Included in this group are those who would be unable to cycle without electrical assistance, opening up a whole new segment of two-wheeled commuters that can now enjoy active travel.

    Due to the growth in e-bike ownership, KiM expects that e-bike use will grow by approximately 45-70% over a period of 5 years, from 2019 to 2024. Part of that growth is at the expense of traditional bicycle use. The total distance traveled by bicycle is expected to increase by 6-8% as a result of an increase in e-bike ownership. This does not take into account other factors influencing use, such as the COVID-19 pandemic, or economic and demographic developments.

    The researchers believe – partly on the basis of previous research – that increased e-bike ownership will probably lead to a decrease in car use, but they cannot determine with certainty to what extent.

  8. A study into the use of e-bikes shows an increase in regular activity.  

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    Source: Journal of Transport and Health

    Previous studies have shown that e-bike owners cycle more and drive less than they would without access to an e-bike. Support schemes for e-bikes exist in a number of countries, but knowledge about the effect of subsidies on active transport is limited. A new study into an Oslo-based e-bike subvention scheme reports on the uptake and use and the accompanying benefits.

    To boost the uptake of e-bikes, Oslo City Council introduced a subvention program (€500) for e-bike purchasers in 2016. Applicants disclosed a travel diary, answered a web survey on usage, and downloaded an app to support their activities. The survey results from the trial group were compared with two control groups; an outside sample of individuals and subvention receivers who had not yet purchased the e-bike. Compared to the control groups, the trial group increased cycling activities by 17–22% after subsidized e-bike purchase and a range of 11.6–19.3 km. The subvention led to more cycling activity and it concluded that financial incentives may contribute to a boost in active transport, even when the subvention is of a simplistic kind that does not target specific population segments.

    E-bikes have increased in popularity worldwide during the last few decades and represent the fastest-growing segment of the transport system (MacArthur et al., 2014). One aspect of e-bikes that is attracting more and more research interest is their effect on mobility patterns (Peterman et al., 2016). The e-bike has notable results regarding the impact on daily transport modes compared to regular cycling and walking. Distances are increased and even those only considered to be accessible by active transport are considered; traditional cycling barriers are reduced (de Geus and Hendriksen, 2015).  The e-bike may also reach population segments that are not prone to regular cycling or walking and particularly important for countries with current low bicycle use. However, the most rapid uptake has occurred in countries with high existing bicycling shares.

    A scoping review by Bourne et al. (2020) highlighted that the impact of the e-bike on travel behavior is largely influenced by the primary mode of travel prior to the introduction of the e-bike, largely a shift from traditional bicycles or cars. Physical activity has obvious health benefits and due to the electrical motor assistance, barriers such as long distances and hills become easier to overcome (de Geus and Hendriksen, 2015), and hence facilitate more physical activity in everyday life (Oja et al., 2011). The potential downside of the motor assistance is that it requires less self-generated power (i.e. energy expenditure) for a given time and distance, compared to a non-assisted bicycle. However, the e-bike is found to require physical activity of at least moderate intensity (Bourne et al., 2018)

    To boost e-bike sales, various forms of support schemes or incentives have been introduced, driven by a concern for the environment and for public health. Learning about the mode-share effects and changes in the overall cycling of such schemes is of particular interest, as it is an open question whether the motivation to use the e-bike after purchase is the same among subvention receivers as among “normal” e-bike purchasers. This recent study assesses the effect of subsidizing the purchase of e-bikes on users’ daily mobility patterns, and overall bicycle usage. Bicycle usage was measured by two items; how far (in kilometers) were ridden and whether the use was for transport or exercise. The trial group was also asked if (and when) they had bought the e-bike and first put it to use. To match the control group to the trial group they were also posed the question: “If you were to buy a bike today, would you consider an electric bike?” Possible answers were: “Yes, absolutely”; “Yes, maybe”; “I don’t think so”; “Don’t know” and “No, certainly not”.

    The app data was collected over a period of two months and the total number of trips recorded was 219,105. The largest difference in car use was between prospective buyers and those who had purchased an e-bike, and some of the higher cycling mode share was due to decreased use of public transport. The study was only designed to look at the relatively short-term effects of the subvention program and some participants had owned their e-bikes for five months. The data indicated that the earliest adopters cycled more than the latecomers, but this could just as well be a result of stronger motivation as of length of ownership. Typically, many people will cycle less or stop cycling completely in the winter months.

    The study concluded that financial incentives can contribute to a boost in active transport even when the subvention is simplistic and doesn’t target specific population segments. For subvention receivers participating in the study, the increase in cycling was significant so promoting e-bikes with fiscal incentives seems to work as intended in a Nordic country with relatively low cycling levels.

  9. Electric bicycle maintenance market reaches €200 million

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    Source: nederlandelektrisch, Els Stultiens

    When we think of electric bicycles, we consider the forward-thinking technology behind this increasing market.  A growing number of cyclists are choosing the electric range over more conventional bicycles, but with this choice comes a maintenance cost.  However, the expenditure is perhaps not as daunting as we might expect.

    The research

    According to Multiscope’s E-bike Monitor study among 3,200 Dutch cyclists, the annual maintenance for electric city bicycles and speed pedelecs averages at a mere 41 euros.  Only slightly more expensive are the maintenance costs for mountain bikes and hybrid bicycles, averaging at 44 euros.  As one might expect, due to their more complex designs, electric folding bicycles, cargo bicycles and tricycles break the 50 euros quota, but only just.  This category has a mean annual cost of 54 euros.

    Bearing distinct similarities to brands in all markets, maintenance costs varied according to the manufacturers.  Focusing on the five largest e-bike brands, Giant’s Electric City Bike range averaged at only 30 euros per annum.  Most expensive were Sparta’s range at an average of 56 euros, with Batavus (35 euros), Gazelle (38 euros) and Stella (46 euros) filling the gap.

    Good news for bike shops

    Multiscope’s study also included data on where the aforementioned maintenance takes place.  Nearly two-thirds (66 percent) chose bikes shops for upkeep duties on their electric bicycles, while 14 percent preferred to consult the manufacturers.  Owners of electric bicycles and private individuals accounted for 9 percent of this study and in 7 percent of cases, no maintenance was required.

    The research showcases the annual value of the Dutch electric bicycle maintenance market, now worth 200 million euros.  With this increasingly-popular two-wheeled trend set to continue, bike shops are gearing up for busy schedules and accountable costs.

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