The Central and Eastern Europe Bike Sharing Market is anticipated to register a CAGR of about 5.67% during the forecast period (2020 – 2025).
- Consumers today are unwilling to invest hugely in commodities which are used for only a brief period. The bike-sharing system is designed specifically for commuters who can pick bicycles as per their need at conveniently timings and locations. With hassle-free, low maintenance, and cheap pricing, bike Sharing is also becoming popular in the Central and Eastern Europe E-Bike Market.
- Since 2017, many Chinese bike-sharing models have penetrated the central and eastern Europe E-Bike Market. But, today, several local operators are also starting up their bike-sharing businesses. Also, Bikes provide an added benefit of leaner volume, which significantly reduces traffic congestion.
- Rise of E-bikes providing the same utility any two-wheelers with an added benefit of reduced ill-effects on the environment is also becoming popular amongst the central and eastern European countries. Many young engineers and entrepreneurs with experience in design and innovation see the E-bike industry as a massive opportunity, especially in Central and Eastern Europe.
Key Market Trends
Rise in the Demand of Green Transportation
Mobility plays a vital role in the current society that we live in.
With the growing concern for preserving and sustaining it for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns, protecting the environment poses a great challenge to both the society and governments worldwide.
As a result, the rising demand for e-bikes is proving to be an ideal solution to the challenge.
With the continually growing environmental and health concerns, due to the increasing emission levels, the 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 concerns for sustainability for future generations. This factor is posing a huge challenge for governments and society.
Thus, e-bikes are proving to be an ideal solution for the challenge.
Poland is the Fastest-Growing Market
Even with the limited infrastructure in Poland compared to neighbors such as Germany and France, Poland today has become one of the most important E-bike manufacturing countries in Europe. In fact, Hungary comes in the second position. Recently, Giant Bicycles have announced they will invest USD 15m on a production facility in Gyöngyös.
The bike-share sector is expected to grow from the current 3-5 E-bikes per 1000 residents in all major European cities to 10-20 bikes per 1000 residents in the next five years, representing a 20-30% growth per year.
European expert group comprising of selected few companies like Donkey Republic, BiciMAD, and Mobike formed a powerful advocacy in the bike-sharing sector. Madrid saw some major benefits of the introduction to sharing electric bicycles and became the first European city to offer an all-electric bicycle program in 2014. Also, BiciMAD saw its base subscriber to grow from 1,000 to over 50,000 people.
The Europe Bike Sharing Market is hugely fragmented with various startups and regional players such as GEOBike, Byke, Rekola, YoBike, VOI E-bikes, BiciMAD, and The Donkey Republic. Although to have the edge over its competitors, the major bike manufacturers are making joint-ventures, partnerships to launch newer products.
For instance, In 2018, VOI E-bikes was founded in 2018 and provides E-bikes across 18 cities and 9 European counties. It has ambitious roll-out across Europe, targeting 150 cities and towns while unveiling a new range of improved e-scooters and e-bikes.
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