Belgium's speed pedelec market continued its transformation in the first half of 2026, with strong growth in new registrations driven by leasing contracts and large fleet deliveries, while the rapidly expanding second-hand market is creating a broader customer base for speed pedelec sales in Europe's leading market.

Contrary to almost all other European countries, the Belgian bicycle market is performing very well. After the 2022 peak, the market bounced back to a pre-pandemic level, and has not been affected by the sustained decline seen in Germany, Italy and the Netherlands. In 2025, the Belgian market even experienced a 7.1% increase to 578,737 units in total. What made this Belgian miracle?

As Europe continues to see widespread adoption of the bike-leasing model, the development of two new programs shows how the model is diversifying. The standardised bike-leasing format has taken over corporate offices, offering employees an alternative path to bike ownership with swanky new e-bikes for a reduced overall cost.

GfK research in the Netherlands, Germany, France and Belgium highlights four trends in purchasing behaviour and priorities when buying an e-bike. The e-bike is no longer just a recreational luxury but is increasingly becoming a serious mobility alternative that influences daily travel behaviour.

Fatbikes have been flagged by the Union des Entreprises Sport and Cycle (UESC) as the overwhelming source of non-compliant e-bikes on France's streets, accounting for 94%. The union published a report last month raising the alarm on the increasing number of vehicles marketed in France as e-bikes that do not comply with current regulations.

As the world's leading bicycle component supplier, there is no better thermometer for the industry than Shimano. For fiscal year 2025, the Japanese manufacturer reported a 2.7% increase in net sales in bicycle components - a slight glimmer of hope that an industry rebound is imminent.