Market Trends of belgium e-bike Industry
Belgium shows exceptionally high E-Bike adoption rates, suggesting a deeply ingrained cycling culture and market maturity.
- The demand for bicycles has been gaining popularity in Belgium over the past few years. The advantages of e-bikes over traditional bicycles have boosted the demand for e-bikes across Belgium during the same period. Effortless riding, zero carbon emissions, saving time in high traffic congestion, and cost-efficiency are some of the major factors contributing to the growing adoption of e-bikes over other vehicles for daily commuting to nearby places. However, the adoption rate in the country amounted to 34% in 2019 compared to 51.40% in 2018.
- The COVID-19 outbreak in 2020 positively impacted the e-bike market across Belgium. Factors such as the need to maintain social distancing measures and consumers' anxiety about using public transportation changed consumers' preferred commuting, further encouraging them to invest in e-bikes as a convenient and price-friendly option for daily commutes to offices and nearby places. Such factors increased the adoption rate of e-bikes by 4.60% in 2020 over 2019 across the country.
- The resuming of business operations and the removal of trade barriers after the lockdown resulted in the gradual growth of e-bicycle sales in Belgium in 2021, as the resumption of trade activities solved the problem of product shortage in the country. The availability of innovative products with high-tech features is attracting consumers, which is further projected to increase the adoption rate in Belgium by more than 35% in 2028.
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Belgium maintains a high percentage of commuters traveling 5-15 km daily, indicating a strong preference for this travel distance.
- The popularity of bicycle travel in Belgium is increasing annually, creating a huge demand for individual bicycle users. Bicyclists who commute daily 5 to 15 kilometres are becoming more prevalent as a result of the rise in bicycle demand. In 2020 people who used bicycles as the medium of transportation every day to a distance of close to 5 to 15 kilometres to various places such as offices, businesses and schools are close to 10% and which is increasing gradually across Belgium.
- The Pandemic was a major factor in Belgium’s rise in bicycle demand in 2020 and 2021 as a result of lockdowns, various lockdown restrictions such as no gym or yoga centres were open, drop-in public transportation, and Increased demand of bicycles Additionally, in many Belgium cities, cyclists choose to use their bicycles as a mode of transportation for trips to their regular workplaces, places of business, and other local locations. The number of commuters going 5 to 15 kilometers by bicycle remained stagnant to 81.3% in 2021.
- Many people now commute from 5 to 15 kilometres away to their daily jobs on bicycles, as well as to their places of employment, places of business, and adjacent marketplaces. Additionally, in 2022, about 12% of people who work daily commuted by bicycle. The number of persons who commute to work by bicycle has increased in 2022 over 2021 as a result of improvements in the infrastructure for bicycles and various plans by the government to promote cycling. Such factors are expected to enhance the number of bicycle commuters With 5-15km, which further will also increase the demand for bicycles in Belgium during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Belgium's bicycle sales exhibit volatility with a significant spike, indicating dynamic market shifts possibly influenced by external factors.
- Belgium's inflation rates peak in 2022, with a trend towards normalization, indicating effective economic management.
- Belgium's e-bike battery prices are steadily declining, reflecting market maturity and increased consumer adoption.
- Belgium's steady growth in dedicated bicycle lanes reflects its commitment to promoting cycling as a sustainable and healthy mode of transportation.
- Belgium's E-bike charging time is steadily decreasing, reflecting advancements in battery technology and a growing electric mobility sector.
- Belgium's GDP per capita shows consistent growth, highlighting a stable and growing economy.
- Belgium's bicycle rental market, though smaller, is consistently growing, indicating a stable and enduring market.
- Belgium's hyper-local delivery sector shows modest growth, indicating a steady adoption of digital solutions for local consumer needs.
- Belgium's trekker community is modestly growing, indicating a rising interest in outdoor activities and exploration of its natural spaces.
- Belgium's Traffic Congestion Index is on a slight upward trend, indicating increasing congestion that may call for enhanced traffic management solutions.
