Taiwan's major bicycle manufacturers — Giant, Merida and Ideal — all reported year-on-year revenue growth in May. The figures from the publicly listed companies are the strongest indication so far this year that the headwinds Taiwan's bicycle industry has been facing may be easing.
The tables are turning in favour of China as consumer budgets tighten, Taiwan's orders dwindle, and tariffs shift the goalposts of international trade. As a result, China accounted for 47%, almost half, of all e-bike imports into the European Union in the first quarter of this year, according to the latest Eurostat data. This compares with 31% in Q1 2025 and just 17% in Q1 2024. Is this the result of a temporary glut in the e-bike market, or does it signal a more structural shift?
The market has finally reached a renewed level of stability. Despite global economic uncertainty and disruptions in recent months, overall confidence remains stable to moderately positive, as shown by the latest Global Bicycle Purchasing Index (GBPI). Following several years of exceptional volatility, the industry can once again look ahead with greater confidence and focus on sustainable growth and future development.
The aftermath of the COVID bubble, which hit the bicycle industry hard, also impacted Accell Group substantially. When Jonas Nilsson joined Accell Group as COO in July 2023, the company was perceived as being in a critical state. In January 2025, Nilsson took over as CEO and initiated the One Accell Strategy. In an exclusive interview with Bike Europe, he explains where the Accell Group is on the strategy timeline and what the market can expect from this once industry-leading company.
Even though bicycle and e-bike production in Japan dropped below the 700,000-unit mark in 2025 for the second consecutive year, and domestic shipments decreased below the 5 million mark for the first time, there are some tentative glimmers of hope in the Japanese market. First, domestic production grew by 3.4% year-over-year to 691,678 units; second, and more importantly, the import flood from China was somewhat stemmed.
Europe's bicycle markets are entering 2026 on very different footing. While Italy continues to struggle with declining sales and mounting pressure on specialist retail, the German and Spanish markets are showing signs of stabilisation as higher-value segments, particularly e-bikes, drive revenue growth. In the UK, the industry recorded its first year of growth since 2020, offering cautious optimism after several difficult seasons. Together, the latest European market reports reflect an industry still navigating post-pandemic correction, changing consumer demand and the growing importance of value-driven segments.
