Market Size of Europe Bicycle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.67 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Europe Bicycle Market Analysis
The Europe Bicycle Market size is expected to grow from USD 25.08 billion in 2023 to USD 39.80 billion by 2028, at a CAGR of 9.67% during the forecast period (2023-2028).
- The demand for e-bikes has surpassed that of conventional bikes in certain European countries, such as France, Italy, Germany, and the Netherlands. The fitness and leisure segments have driven the European bicycle market, as more people are using bikes for recreation and exercising, leading to steady growth in the medium to long term. Moreover, the increasing popularity of cycling events and the versatile application of bikes in trekking and recreational activities are also expected to propel the market's growth.
- With growing environmental concerns and aggressive marketing campaigns, the trend towards eco-friendly transportation is encouraging more people to opt for cycling as a means of commuting. The increasing demand for e-bicycles is driven by the growing focus on body fitness and health consciousness among consumers. According to the Spanish Bicycle Industry Association (Spanish: Asociación de Marcas y Bicicletas de España ((AMBE)), e-bicycles are the most popular electric vehicles in Spain, with over 220,000 units sold in 2021.
- Leading companies in the industry are focused on expanding their brand presence in the region through mergers, acquisitions, partnerships, and new product developments. For example, Hero Cycles, a brand under the Hero Motors Company Group, delivered its Made in India e-bikes to Europe in June 2021, marking the company's entry into the European market.
