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Report
Australia E-Bike Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 70 Pages I Mordor Intelligence
Australia's e-bike market was valued at USD 16.9 million in 2021, and it is projected to show a substantial growth rate during the forecast period (2021-2027). and it is expected to reach USD 55.6 million by 2027, registering a CAGR of 6% during the forecast period (2022-2027).
Due to the COVID-19 outbreak and the subsequent lockdowns (with all the restrictions followed), the production of e-bikes witnessed a decline. However, as life is slowly returning to normalcy, the market is picking up pace. Due to the pandemic and the risk of contamination through public transport, people are showing an increased interest in buying their means of commute.
Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market during the forecast period. The demand for e-bikes is picking up pace due to their convenience and cost of operations.
With the continually growing environmental and health concerns due to the increasing emission levels, governments and international organizations are enacting stringent emission norms to reduce carbon emission levels.
Australia E- Bike Market Trends
Increasing Demand for Eco-friendly Transportation to Propel Growth of the Market
Due to increasingly busy lives and the need to commute daily, it has become almost necessary to own a vehicle, as public transport is often unreliable. Additionally, there is a growing concern for preserving and sustaining the environment for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns. These factors pose a unique challenge for society and governments.
E-bikes are the ideal solution to this problem. They are eco-friendly and convenient, which augments the demand for e-bikes. Busy lifestyles are increasing the need to travel. However, with the continually growing environmental and health concerns, there is an increase in emission levels from transport. Hence, governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.
Additionally, the depletion of fossil fuel levels at an alarming rate has been creating sustainability concerns for future generations, thus posing a huge challenge for governments and society. Thus, e-bikes are proving to be an ideal solution to this problem.
Pedal -Assisted dominating the market
An e-bike works much like a traditional bicycle, with pedals that the rider must manually operate in order to turn the wheels. However, additional power is supplied by a battery-powered motor that is mounted on the front or back wheel, depending on the type of bike.
Some of the benefits offered by these bikes are as follows, ease of traveling (especially long distances), best suitable for recreational activities, such as hill climbing, easy to carry heavy loads, ensure the fitness levels of consumers (owing to the rising health concerns).
Additionally, the demand for e-bikes is also increasing among the youth, as their lifestyles are gradually shifting toward adventure sports, such as uphill cycling.
With the consistent technological advancements, pedelec manufacturers are focusing on enhancing the overall user interface by designing and developing pedelecs that can be integrated with the riders' smartphones and can provide them with real-time information on the speed and battery status of their vehicles. Moreover, continuous product upgrades and new model launches coupled with rising sports events and associated activities encourage both existing and new players and are likely to encourage other players in the market. For Instance,
In April 2022, Neuron Mobility launched e-bikes in Sydney, Australia. It is integrated with Google Maps. Through this service, the nearest Neuron e-bike would be highlighted, including the directions to get there and how long it will take, also calculating a price estimate based on the selected route.
Australia E- Bike Market Competitor Analysis
The Australian E-Bike Market is fragmented with various international and domestic players such as Focus Bikes, Riese & Muller, Rocky Mountain, Giant bicycle, and Others. Although to have the edge over its competitors, the major actuators manufacturing companies are exporting their latest technology bikes here. Online and Retail stores also play a major role like (Electric bike Brisbane) has its retail outlets in Australia with a vast service network.
The e-bike market is highly fragmented, with major players, including Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and ORBEA, holding a low share of the total market. Giant Bicycles is the largest player in the market.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - 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
5 MARKET SEGMENTATION
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 Cargo
5.2.3 Mountain
5.3 By Motor Type
5.3.1 Mid Motor
5.3.2 Hub Motor
5.4 By Battery Type
5.4.1 Lithium-ion Battery
5.4.2 Others
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Giant Bicycle
6.2.2 Merida Industry
6.2.3 ORBEA
6.2.4 Norco Bicycle
6.2.5 Foucs Bikes
6.2.6 Smartmotion Electric Bike
6.2.7 Stealth
6.2.8 Neuron Mobility
6.2.9 Ribble CGR AL
6.2.10 MiRider One
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