Market recovery emerging in 2024

Market recovery emerging in 2024

Whereas spring 2023 didn't offer an upturn in e-bike and bicycles sales, setting the course for much of the rest of the year, market indicators are suggesting that 2024 could be the year of stabilisation within bicycle market. Major indicators in the Netherlands and Germany are already pointing towards slow but steady recovery in these major markets.

When Eurobike opens its doors in early July, it will be clear whether the market performance in spring has contributed to the long-awaited clearing of the warehouses. This would give the industry the much-needed room for new investments and the implementation of forward-looking strategies. Even if this is the case, industry insiders expect the market to go forward in very small steps.

Highlights in this latest online magazine (Issue 33 | July 2024) include:

  • Industry to gauge market sentiment at Eurobike
  • European benchmarks offer positivity for retailers
  • Bicycle producers continue to struggle in Q1

According to CONEBI investments remained strong at over € 1.9 billion in 2023, slightly below the € 2.1 billion recorded in 2022. – Photo Bike Europe

E-bike market share in Europe reaches 30%, but industry struggles

BRUSSELS, Belgium - E-bikes have become the top electric vehicle choice for European consumers, offering mobility, leisure, and health benefits. The e-bike also brought the much-wanted reshoring of production: e-bikes for European markets are predominantly made locally. While the e-bike continues to gain ground, bicycle sales have slipped away.

While the industry is still occupied with restructuring the supply side, there is still an increase in the number of trips made with micromobility products. – Photo Shutterstock

McKinsey forecasts e-bike market value to five-fold by 2035

ZEIST, the Netherlands - E-bikes are the leading micromobility category in Europe. It accounts for almost 37% of the European micromobility market today. This share is expected to increase to 50% at a total value of more than €100 billion in the next decade.

Cambodia’s average FOB price dropped from €377 in 2023 to only €142 this year. – Photo Bike Europe

Cambodia bicycle exports down 37%

PHNOM PENH, Cambodia - The group of five bicycle making companies in Cambodia are quickly losing ground on the international bicycle market. Once moved quickly from Vietnam to Cambodia for beneficial import rates at its main markets years ago, it is now rapidly losing market share to China, Taiwan, Bangladesh and Sri Lanka.

Driven by nice spring weather in March, turnover suddenly accelerated by 9.6% in the Netherlands. – Photo Shutterstock

Retail sales up again in the Netherlands after dip in 2023

ZEIST, the Netherlands - Retail sales between January and March 2024 in the Netherlands partly recovered from the strong decline the market experienced in 2023. Turnover increased year-on-year by 5.2% in the first three months of 2024. In the same period last year, revenue was still down by 10% mainly as a result of the sales hike in 2022 shows the benchmark of H&L Accountancy and Tax.