Global Cycling Market Grows 4 percent in 2010
A recent survey reveals that the global bike market increased in volume by 4% in 2010. According to the NPD Group, the leading global provider of consumer and retail market research information for a wide range of industries, global sales totaled
PARIS, France – A recent survey reveals that the global bike market increased in volume by 4% in 2010. According to the NPD Group, the leading global provider of consumer and retail market research information for a wide range of industries, global sales totaled 137 million bicycles (all categories; including e-bikes).
NPD group’s survey called ‘The Global Sport Market Estimate’ is now also focusing on bicycles as well as bike parts and accessories. NPD’s survey on the 2010 bike market shows total retail sales (after VAT) valued at 32.9 billion euro (45.8 bn US dollar). This includes the sale of bikes parts, accessories, rental, maintenance, cycling shoes and cycling apparel. In 2009 the value stood at 29.9 billion euro (39.5 bn US dollar). The NPD data, provided exclusively to Bike Europe, further notes that the average price of a bike stood at 179 euro (249 US dollar) in 2010.
NPD’s 6th survey ‘The Global Sport Market Estimate’ further deduced that cycling is the number 1 sport market in the world in terms of revenue, ahead of any other sport. It is accounting for 15% of the global sport market in 2010; was 14% in 2009.
The survey further says: “Electrical bikes have yet to prove that they are a mass market product in Western Europe (to the exception of some countries such as the Netherlands). We believe what is missing is a touch of glamour on the bikes and they are expensive in comparison with traditional bicycles. So the interesting question is at what level of price will we observe that the demand for hybrid technology products will start to rocket and hit the mass market (and when will this happen?) This is probably around half the current prices (psychological price is certainly below 500 euro) and the turning point is probably still a few years from now.”
NPD’s cycling survey is on sale. It includes the data broken down by region, and by country for all countries in the world (more than 90, and 36 in Europe). More at www.npd.com or contact sport industry analyst, Renaud Vaschalde at Renaud.Vaschalde@npd.com