|Study Period:||2016 - 2026|
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The Europe bicycle market was valued at USD 16,387.41 million in 2020, and it is projected to register a CAGR of 3.73% during the forecast period, 2021-2026.
The impact of the COVID-19 pandemic on the Europe bicycle market was severe during the onset of 2020, mostly accountable to lockdown and barriers to transport and movement. However, post the ease in lockdown measures, consumers have increased their participation in physical endurance and activities, propelling the market for cycles and gym equipment. 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.
Over the long term, the Europe bicycle market was 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.
Additionally, growing environmental concerns and aggressive marketing campaigns pose the use of bicycles as an environment-friendly option, encouraging more people to opt for cycling as a means to commute. Currently, there is a higher demand for e-bikes over conventional bikes in the region, especially in countries such as France, Italy, Germany, and the Netherlands. Some of the leading players are Giant Bicycles, Trek Bicycle, and Maxcom Ltd, among others.
Scope of the Report
The Europe bicycle market is segmented by type, distribution channel, and country. By type, the market is segmented into road bicycles, hybrid bicycles, all-terrain bicycles, e-bicycles, and other product types. By distribution channel, the market is segmented into online and offline retail. Based on country, the market is studied into Germany, France, Italy, Spain, the Netherlands, the United Kingdom, and Rest of Europe. For each segment, the market sizing and forecasting have been done in value terms of USD million.
|By Product Type|
|All Terrain Bicycles|
|Others\ Product Types|
|By Distribution Channel|
|Rest of Europe|
Key Market Trends
Favorable Government Initiatives are Supporting the Bicycle Industry's Growth
According to the Central Bureau of Statistics, in the Netherlands, the total number of shops selling bicycles has been increasing since 2015, reflecting a growth in the bicycle market. The growing use of bicycles for trekking and recreational activities, coupled with an increasing number of cycling events, may increase the demand for sports bicycles over the forecast period.
At the same time, various organizations and governments are aggressively deploying the infrastructure needed to support the switching of bicycles in developed economies, thereby encouraging people to opt for bicycles. For instance, in April 2017, the UK government published its GBP 1.2 billion long-term plan to make cycling and walking the preferred choice for shorter journeys.
Most of the time, these national strategies and/or action plans set clear activities and precise goals for the development of cycling at the national level. Similarly, the Swedish government has adopted ‘A national cycling strategy for more and safer cycling, contributing to a sustainable society and a high quality of life throughout the country. The government invested a total of SEK 100 million in an additional cycling initiative in 2016–2017.
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Germany Holds the Largest Market Share
The sale of cargo bikes, an efficient alternative to four-wheel transport, has boomed in the German bicycle market, driven by local enterprises and smaller corporations. Consumers’ considering it a style statement is another factor driving its sales in the country. For instance, in 2018, according to Germany’s Two-wheel Industry Association (ZIV), 39,200 electrically-powered cargo bikes were sold in the country, paralleled to 36,062 registered electric cars. The construction of a completely car-free bicycle highway in the country may also contribute to the bicycle market's sales in the coming days. Another reason for the increase in sales is the highway possibly stretching to 62 miles, linking ten cities and four universities, making it convenient for consumers to frequently use it and fulfill the desire for a cleaner environment. The smaller cities and towns with lesser traffic are the major consumers of the bicycle market. According to the survey conducted by the German cycling club ADFC, Bremen, Hanover, Leipzig, Frankfurt am Main, and Dresden are the leading bike-friendly cities in the country.
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The Europe bicycle market is highly fragmented and comprises many international and regional players. The market is dominated by key players, like Accell Group, Trek Bicycle Corporation, and Giant Manufacturing Co. Ltd. The major companies in this market are venturing into the manufacturing of e-bicycles, thereby increasing their presence across the region. The companies are also leveraging on the enhanced online distribution channel. For instance, in 2019, Accell Group introduced a three-track omni-distribution model in line with consumers’ focus on e-bikes. The new distribution model includes launching a centrally operated e-commerce platform that may replace individual brand websites in Europe, setting up experience centers to test e-bikes, and rolling out mobile bicycle service.
- In 2020, e-Bicycle manufacturer Volt opened its planned UK facility in Milton Keynes. The factory in Milton-Keynes has a capacity of 25,000 units annually.
- In 2019, Ribble Cycles, one of the leading British bicycle manufacturers, launched its new thoroughbred cyclocross race bike with features like less weight and high strength. It has an advanced monocoque mold with EPS inner core system to support structural consistency that eliminates extra material inside the frame.
- In 2018, in London, Lime launched a brightly-colored fleet of e-bikes additionally armed with the convenience of a rechargeable lithium battery, enhancing riders up to 14.8 mph, providing a strong transportation network.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Road Bicycles
5.1.2 Hybrid Bicycles
5.1.3 All Terrain Bicycles
5.1.5 Others\ Product Types
5.2 By Distribution Channel
5.2.1 Online Retail
5.2.2 Offline Retail
5.3 By Country
5.3.1 United Kingdom
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Accell Group NV
6.4.2 Trek Bicycle Corporation (Roth Distributing Co. Inc.)
6.4.3 Pon Holdings BV
6.4.4 Giant Manufacturing Co. Ltd
6.4.6 Ribble Cycles
6.4.7 Riese und Muller GmbH
6.4.8 Merida Industry Co. Ltd
6.4.9 Scott Sports SA (Youngone Holdings)
6.4.10 Canyon Bicycles (Desmarais Family Residuary Trust)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Europe Bicycle Market market is studied from 2016 - 2026.
What is the growth rate of Europe Bicycle Market?
The Europe Bicycle Market is growing at a CAGR of 3.73% over the next 5 years.
Who are the key players in Europe Bicycle Market?
Trek Bicycle Corporation, Giant Bicycles, Accell Group NV, Bulls, Ribble Cycles are the major companies operating in Europe Bicycle Market.