Vietnam: electric bicycle segment revenue 2015-2029

The revenue in the 'Electric Bicycles' segment of the bicycles market in Vietnam was forecast to continuously increase between 2024 and 2029 by in total 14 million U.S. dollars (+38.66 percent). After the fourteenth consecutive increasing year, the indicator is estimated to reach 50.23 million U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Electric Bicycles' segment of the bicycles market was continuously increasing over the past years.

Revenue of electric bicycle or "xe đạp điện" segment in Vietnam from 2015 to 2029 (in million U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

Electric bicycles are means of transport designed to transport people and goods for professional and private purposes. They are used for leisure activities such as travelling or for physical exercise. Depending on the specific purpose and rider, bicycles come in different shapes and features.

They are powered by combination of human strength and by electrically powered motors.

In recent years, different renting models have been established such as bike-sharing, in which bicycles can be rented for a defined period in exchange for a fee. These rented bikes are not included in this market outlook. Only bikes that were purchased for ownership are covered.

Structure:

The electric bicycles market covers all types of bicycles with electrical assistance, including road and racing bicycles, off-road bicycles, and special purpose bicycles. However, motorcycles, scooters, mopeds, secondhand bicycles, as well as bikes purchased by bike-sharing services are not included.

Additional information:

The market comprises the number of bicycles sold, the average price paid per bicycle, revenue, and revenue growth as the key performance indicators. Revenue is derived as the product of the average price per bicycle times the number of bicycles purchased. Therefore, revenue excludes any profits from bike-sharing fees. Revenues are including VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.

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