Market Reports

VIENNA, Austria - After an impressive Covid-related sales boom and subsequent sales decline and overstock, Austria's bicycle market had already more or less returned to a 'high normal level' by 2023. Could this level be maintained in 2024? The answer to this question can be found in the latest data released by ARGE Fahrrad.

PARIS, France - After a sharp market contraction in 2023, 2024 did not fully reverse the trend. "The year 2024 has not been very easy," summarized Patrick Guinard, president of the Cycle Commission of the Union Sport & Cycle. According to the results of the 2024 French Cycle Observatory published by Union Sport & Cycle at the Vélo in Paris trade show, the French bicycle market generated €3.232 billion in turnover, a 5.9% decline compared to 2023. In volume, 1,956,700 bicycles were sold, representing a 12% drop year-on-year, for a turnover of €2.003 billion (-8.3%).

STOCKHOLM, Sweden -Recent figures from the Swedish industry association Cykelbranschen show that bicycle sales volumes have almost halved in the last 11 years, and the decline is ongoing. These market trends have been recently confirmed by some leading local bike retailers.

MILAN, Italy - After two years of double-digit declines, the Italian bicycle market seems to have stabilised. In 2024, over 1.3 million units were sold, marking a modest -0.7% decrease compared to the previous years. This positive signal comes from Italy's trade association, Confindustria ANCMA, which recently unveiled its market figures.

MADRID, Spain - The Spanish bicycle industry closed 2024 with a decrease in turnover for the third consecutive year. In line with neighbouring markets, the turnover in the Spanish cycling sector remains above pre-pandemic levels but contracted by 6.5% in 2024, to €2.3 billion including parts and accessories. Revenue from e-bike and bicycle sales make up 56% of this total value at €1.3 billion in 2024.

AARAU, Switzerland - In 2024, the bicycle industry in Switzerland was in a far deeper trough than in Germany or The Netherlands. Total sales fell by 54,000 units - a drop of 14%. It is worth noting that sales of e-bikes are still in the shadows of regular bicycles as market share remains locked in at around 45% for the past three years.

LONDON, United Kingdom - The total bicycle market in the UK saw sales drop a further 2% year-on-year in 2024 to a new low this century. This latest drop continues the long post-COVID downturn which began in the second half of 2021. However, the latest figures from the Bicycle Association (BA) suggest there is light at the end of the tunnel.

BERLIN, Germany - Massive discounting campaigns to reduce inventory levels in the market pushed down the average e-bike retail price and market value in Germany last year. While sales volume remained relatively stable, the revenue from bicycles and e-bikes totalled €6.33 billion, down 10.1% from €7.06 billion in 2023. This is still significantly higher than the sales value of €4 billion in 2019.

AMSTERDAM, the Netherlands - E-bikes continue to be the driving force for the Dutch market. The total e-bike market volume ended at 409,467 units, representing a market share of 47.7%. The total number of bicycles and e-bikes combined ended at 858,126, down from 919,101 in 2023. This year, the national industry association RAI Vereniging included fatbike sales for the first time in their annual report which has resulted in a major shift in the statistics.

BRUSSELS, Belgium - That 2024 was a challenging year for European e-bike markets is no secret. How bad though, is now revealed in the latest EU e-bike import statistics published by Eurostat. The volume of e-bikes imports dropped 27% year-on-year to 642,000 units, slipping below the pre-covid level of 705,000 units in 2019. The import value fared even worse, with a 33% drop year-on-year.

WASHINGTON, US - As the world awaits a year of tariffs and tussles, there was good news for the bicycle market in the US in 2024. The number of non- electric bicycles imported into the country rose again following sharp declines since 2021, the latest US customs data shows. However, with China as the leading supplier, the market remains uncertain.

TAIPEI, Taiwan - Taiwan exported 47% less e-bikes across 2024, the preliminary custom statistics show. With just under 365,000 units leaving the nation's shores in a year, this is the lowest volume since 2018. The export value also dropped 43% year-on-year meaning the economic ramifications must still be being felt throughout the supply chain.

BUDAPEST, Hungary - The Central European country Hungary is known in the industry as the location for the production facilities of Accell Hunland and Giant Manufacturing Hungary Ltd. In an exclusive interview, Róbert Sipiczki, president of the Association Hungarian Bicycle Producers and Traders (AHBPT) elaborates on the difficult local market situation due to limited sales with the most negative dynamics in the lower price brackets.

FRANKFURT, Germany - The fact that the US e-bike market is lagging behind European counterparts is well-known within the industry. A forecast based on a compound annual growth rate (CAGR) of 30% over the next 7 years could see the US e-bike market reach 6.7 million units and match regular bicycle sales in 2030. This data presented at Eurobike by eCycleElectric however, represented the most optimistic scenario.

MADRID, Spain - The mismatch between supply and demand has hit the Spanish bicycle industry very hard. Significant stockpiling has been taking place at both distributors and stores. This situation has not been balanced out yet as the 2023 market statistics show. Still, the Spanish industry association AMBE who presented the market data is still confident about the future market. AMBE also noted that 2024 will still be a difficult year for the industry.

ZEIST, the Netherlands - With key markets reporting double-digit sales drops, inventories sky-high and heavy discounting attempting to rid the industry of burdening overstock, e-bike and bicycle imports into the EU nose-dived throughout 2023. With the first quarter of 2024 import data now available from Eurostat, a picture can be drawn of how this year's market might unfold… and there is a glimmer of hope.

TOKYO, Japan - While the corona pandemic caused a veritable bicycle and e-bike boom in the west, this sales boom completely bypassed Japan. The current sales slump therefore isn't based on a sharp drop from new sales records as in the west. For years the bicycle market in the Land of the Rising Sun has been shifting in low gear. The local market slump continued in 2023 and a reversal is not expected in the current year either.

ZEIST, The Netherlands - Undeniably European e-bike sales took a step back last year. In 7 European countries which have already reported their market statistics for 2023, the total volume decreased by 8%, from 4,555,264 units in 2022 to 4,178713 last year.