The electric bicycle market - Spain

Electric bicycles are an increasingly popular means of locomotion in recent years.they have emerged with the emergence of objects linked to micromobility, which are mainly used for leisure purposes or for commuting to work . There are several types of electric bicycles, such as city bikes, mountain bikes and folding bikes. In the global market, the main manufacturers of e-bikes are Yamaha Motor Corporation, Accell Group NV, Trek Bikes, BionX International Corporation, Mahindra & Mahindr, Jiangsu Xinri E-Vehicle and Giant Manufacturing. In Europe, the market has grown exponentially, with more than 3 million units sold, almost 100% more than in 2016. Germany and France are driving European growth, but many smaller countries such as Belgium and the Netherlands have extremely high levels of electric bike use. InSpain, more than 1.5 million bikes were sold in 2021, while the number of e-bikes sold has passed the 200,000 mark and the total fleet of e-bikes on the Peninsula exceeds 1 million. The average price of e-bikes exceeds 2,800 euros, 8% more than in 2020. The demand for this type of bicycles continues to grow, but the current obstacle to market development is in the initial phase of the market. Raw material shortages and price rises are expected from 2021, before increasing during 2022.