Europe Bicycle Market Oulook, 2027

Europe Bicycle Market Oulook, 2027

Over the long term, the European bicycle market is driven by bicycle demand for both fitness and leisure. The increase in the number of people who use bicycles as a form of recreation is expected to develop the market. Further, the preference for bicycles as a convenient way of exercising for fitness is expected to drive the market further. Likewise, an increasing application base of bicycles in trekking and recreational activities, coupled with a rising number of cycling events, is expected to propel the demand for bicycles in general and sports bicycles in particular. On the other hand, there are a lot more taxes on gasoline in Europe, so the cost per liter or gallon is usually roughly double there. Therefore, there is a lot of incentive to use non-gasoline transportation. The value of the contribution of the cycle to the economy in Europe has been estimated at approximately EUR 180 billion annually, with 80% of those benefits arising from reductions in mortality alone.

According to the Europe Bicycle Market Outlook, 2027 report published by Bonafide Research, the market was valued at USD 14 billion in the year 2021 and is expected to grow by more than 9% in the forecasted period. The growing use of bicycles for trekking and recreational activities, coupled with an increasing number of cycling events, increased the demand for sports bicycles over the forecast period. The increasing influence of celebrity endorsements also adds to the rise in demand for bicycles. According to the Central Bureau of Statistics, in the Netherlands, the total number of shops selling bicycles has increased from 3028 in 2015 to 3079 in 2020, reflecting a growth in the bicycle market. Cycling events play an important role in raising awareness about cycling and its benefits, in turn supporting the bicycle market. These events are focused on different segments of the population, including children, adults, families, employees of an organization, and many more. For instance, European Mobility Week is an initiative taken by the European Coordination, National Coordinators, and the European Commission to improve public health and the overall quality of life through the promotion of clean mobility.

Bicycle trips are most frequent in the Netherlands, Denmark, and Sweden. The Netherlands holds the record as the nation with the most bicycles per capita. The Danish capital, Copenhagen, is the most bicycle-friendly city and is known as the City of Cyclists, where 52% of the population uses a bike for the daily commute. The demand for bicycles in Belgium has enabled local and global manufacturers to launch innovative bicycles in the country. Furthermore, out of the total population in Europe, 51% were women. In the economy as a whole, women's hourly earnings were on average 14.1 % below those of men. Nonetheless, male cyclists, including professional cyclists and commuters, dominate the market. The segment accounted for around 45% in volume and value terms.

In particular, e-bikes rule the market owing to more innovations in the segment. For instance, in July 2019, the Belgian firm, Cowboy, launched an innovative e-bike comprising features like road-style geometry, internal cabling, a miniature removable power pack, and a SIM built into the frame. The e-bicycle holds the least share in terms of volume, with less than 10%, which contradicts the highest in value. Consumers' illegally tuning up their e-bikes to 70km/h can lead to accidents, as it narrows the cyclist’s range of vision. The government has taken some initiative to increase the sale of e-bikes because it may make travelling much faster and safer.

Currently, there is a higher demand for e-bikes than conventional bikes in the region, especially in countries such as France, Italy, Germany, and the Netherlands.

The onset of e-bike features has driven the market from conventional bicycles to e-bikes. Many global and regional manufacturers are focused on making these models available in the market. E-bicycle manufacturers across the region are focused on incorporating new technologies, such as anti-theft features, smart monitoring systems, and many more, to meet the growing demand and gain a competitive advantage in the market. Moreover, the continuous focus on product innovation in the e-bike segment by major manufacturers is prominent in this regional market. For instance, in 2021, Dott, a micro-mobility company in Europe, launched its e-bikes in Germany. The model provided clean mobility along with single app use technology. The government's initiative to promote sales of e-bikes also enhanced the market demand. For instance, the Swedish government, in its 2018 budget, included a 25% subsidy for e-bike sales till the end of 2020, which helped in the sales enhancement and set a benchmark for all European countries.

The market scenario for the bicycle industry is booming due to continuous technological advancement. Components like gear systems, shock absorbers, better handling, material use, better design, light weight, tubeless tires, etc. have attracted customers and investors. People are realizing that staying fit is the most important aspect of life. To fulfill this, people are spending on auxiliary items to help them achieve the goal. The continuous increase in pollution, congestion of traffic, less space on the road due to motor vehicles, saving time in travelling in metropolitan areas, etc., also attracted the customers to buy the products. The bicycle industry also contributes to increasing the employment rate. The current and future of this industry have a good growth rate. The car-obsessed nation of Germany has developed a strategy to double the number of people who ride bicycles there. The bicycle represents individual, resilient, healthy, adaptable, and affordable mobility, which not only seeks to increase cycling but also wants to make it more comfortable and safe.

Recent Developments
• In 2022, Brompton launched its first fold-up bicycle made of titanium and manufactured in the United Kingdom. The company took advantage of the increase in cycling trends during the pandemic and used lightweight metal to manufacture the bicycle.
• In 2021, Hero Cycles, a brand under the Hero Motors Company Group, delivered its Made in India e-bikes in Europe. This delivery of the first batch of e-bikes marks the company's penetration into the European Union market.
• In 2020, e-bike manufacturer Volt opened its planned United Kingdom facility in Milton Keynes. The factory in Milton-Keynes has a capacity of 25,000 units annually.
• The Bianchi Aria E-Road Ultegra Di2 11SP has Bianchi Full Carbon Suspension and Fork, making it one of the few bicycles with high-quality suspension.
• The Vittoria Rubino Pro G2.0 Graphene 700x28c wheel of the bicycle is equipped with Shimano BR-R8070 Hydraulic Disc Brakes. The Kross Viper 14T and Kross Viper 16T are bicycle models that share the same specifications as the Vittoria Rubino.
• Bianchi Aria E-Road Ultegra Di2 11SP is a Bianchi electric bike with Shimano Ultegra Di2 ST-R8070 211-Speed shifters.
• The BMW Cruise Bike Generation IV is one of the different models from the house of BMW. This bicycle has hydraulic disc brakes. From a comfort standpoint, it comes with a 28′′ Rodi Web Black Rim rim.
• The Firefox Road Runner Pro D has a ZOOM Alloy suspension fork with a 40mm (4 cm) travel, making it a very comfortable bicycle to ride. The Wanda 700 X 35C wheel of the bicycle is equipped with Tektro, a mechanical disc w/Shimano levers. The tyre size is Wanda 700 X 35C.
• The Merida CROSSWAY 10 V is one of the different models from the Merida company. The Merida CROSSWAY 10 V has Promax MTV-117A brakes, a Coil 63mm suspension travel suspension with VP VPE-891 pedals, and a 25.4mm diameter adjustable stem. From a comfort point of view, it comes loaded with FSA TH888 Head Fittings, a 17mm inner width rim, and a MERIDA Cross Sport Saddle/Seat.

COVID-19 Impacts
The impact of the COVID-19 pandemic on the European bicycle market was severe during the onset of 2020, mostly due to lockdown and barriers to transport and movement. Consumers' participation in physical endurance and activities has increased following the relaxation of lockdown measures, propelling the market for cycles and gym equipment. According to the Confederation of the European Bicycle Industry, there was around a 40% increase in the sales of bicycles in the region in 2020.

Major companies present in the market
Abici, A- Bike, Accell Group, Amer Sports, Bridgestone Cycle, Campagnolo, Cannondale, Cervelo Cycles, Cube Cycles, Derby Cycle, Dorel Industries Inc., Giant Bicycles, Hero Cycles Limited, Merida Bikes International, My Boo, Orbea Corporation, Scott Sports, Specialized Bicycle Components, Inc., STRiDA Cycles

Considered in this report
• Geography: Europe
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Europe Bicycle market with its value and forecast along with its segments
• Country-wise toy market analysis
• Various divers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• UK
• France
• Italy
• Germany
• Spain

Segment covered in the report
By Type
• Road Bikes
• Mountain Bikes
• Hybrid Bikes
• E-bikes
• Others (Kids, standard, maas)

By End User
• Men
• Women
• Kids

By Bikers Type
• Highly Engaged
• Engaged
• Leisure
• Travel

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing the government- generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have verified the details obtained from secondary sources..

Intended audience
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.