Electric bike expertise

European electric bicycle imports increased by more than 30%

The value of e-bike imports into the EU jumped by 33.8% in 2022, also driven by sharp increases in bicycle prices, with the total value soaring to €1.137 billion and the average unit price surging from €823 in 2021 to €959.
According to last year’s data, European Electric bicycle imports fell to a record low of 54,522 units in December 2022, and despite the lower volumes, the total value of bicycles imported in January and February 2023 was still significantly higher than the same period the previous year In terms of import volume, the average import price of e-bikes to the EU has increased significantly, and the price of traditional bicycles has also increased significantly, with the overall average unit value reaching US$568.16 and US$681.39 in January and February 2023 respectively . The average unit price in February was $43.47 higher than the previous record set in December 2022, and the average unit price of bicycles has soared to a record level.
This is also influenced by consumer demand and raw material prices.

The average price of upstream raw materials has risen by nearly 50% since the outbreak. Since May 2021, the price of aluminum has risen by as much as 63%. Aluminum accounts for about 30-40% of the material cost of the entire bicycle. The manufacturing cost of bicycles has been raised. As for bicycle parts, the average increase is about 20% to 30%, and the average increase in vehicle export prices is around 10% to 20%.
There is an apparent oversupply of mid-to-low-end bikes, and a structural shift in overall demand towards higher-value bikes. “Currently, the balance of supply and demand in the bicycle market has not yet normalized. The demand for mid- and low-end products has cooled, but the demand for high-end and electric bicycles remains strong,” said the head of Giant.
Changes in supplier countries for bicycle exports to the EU.

Total bicycle production by Asian exporters last year was lower than in 2021, with shipments of traditional bicycles down 6.37% compared to 5.4 million units in 2021. Among them, China is the EU’s main supplier, accounting for a quarter of the EU’s supply, and its export share increased from 18.9% in 2021 to 23.8% last year.

The bicycle factories blooming everywhere in China also strongly support the export of bicycle industry production. According to the country’s Export Promotion Agency, China is actively seeking to diversify its exports, mainly engineering products and bicycles, to meet growing demand in the global market. According to the country’s Export Promotion Agency, China is actively seeking to diversify its exports, mainly engineering products and bicycles, to meet growing demand in the global market. Currently, the country is one of the countries enjoying preferential tariffs on imports, including bicycles exported to the EU.

Overall growth in e-bike sales in Europe So far, the demand for electric bicycles in Europe has surpassed that of traditional bicycles. Overall, the electric bicycle market is growing steadily, with rising average selling prices and increasing market value. The average price of a single electric bicycle in the European market has reached 2,000 euros.
According to the data for 2022, the sales of electric bicycles in Europe are on the rise, and the market growth will exceed 2021. The German market saw sales growth last year of 10% (3% in 2021), 11% in Austria (9% in 2021) and 14% in Italy (5% in 2021). Among them, the sales volume of the electric bicycle market in the UK will decrease by 3.1% to 155,000 units in 2022. The traditional bicycle market fell by 20% last year. Among them, cargo bicycles have become an emerging category in the market. 47% of British people believe that electric cargo bicycles should be more used in urban areas. In the delivery of goods, more commercial applications are being gradually promoted, and the potential of this market segment is also being gradually tapped.


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