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The Europe bicycle market is estimated to increase by USD 4.73 billion, growing at a CAGR of 4.05% between 2022 and 2027. The European Bicycle Market is buoyed by rising health and fitness awareness, driving demand for sustainable transportation options. An uptick in bicycle sports events across Europe further stimulates market growth, fostering a culture of cycling. Government policies promoting cycling infrastructure and initiatives promoting active transportation also contribute to the market's expansion, encouraging more people to adopt cycling as a lifestyle choice.
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The European bicycle market epitomizes the continent's commitment to sustainable mobility, thriving in both sports and leisure segments. Renowned brands like Bianchi lead with their Italian output, while trends like Amsterdam-style bicycles cater to diverse consumer preferences. Celebrity endorsements elevate brand visibility, attracting new enthusiasts. Regulatory bodies such as Associazione Ciclo Motociclo Accessori (ANCMA) ensure industry standards, fostering trust among consumers. Collaborative efforts by the European Commission, European Coordination, and National Coordinators promote cycling events and championships, underscoring its benefits for public health, quality of life, and the environment. With a growing health consciousness, cycling emerges not only as a mode of transportation but also as a means of body fitness and recreational activity. In the medium to long term, the market is poised for sustained growth, driven by its versatile applications and commitment to eco-friendly transportation solutions.
The European Bicycle Market experiences growth spurred by increased awareness regarding health and fitness, alongside rising concerns about the environment. As individuals prioritize healthy lifestyles, cycling emerges as a favored option due to its numerous health benefits, including cardiovascular exercise and weight management. The market sees expansion across fitness and leisure segments, with a notable uptake in e-bikes for eco-friendly transportation. Celebrity endorsements and advancements in sports bicycles further fuel the market's growth, supported by associations like Associazione Ciclo Motociclo Accessori (ANCMA). Leading tire producers such as Vittoria and Pirelli contribute to the market's development, catering to various cycling needs, including trekking. As cycling gains traction as an eco-friendly mode of transportation, driven by both personal fitness goals and environmental concerns, the European Bicycle Market witnesses dynamic growth trends, emphasizing a shift towards sustainable and active lifestyles.
The European Bicycle Market observes a significant trend with the rising prominence of rental services, driving market growth amidst environmental concerns and the quest for clean mobility. Accelerated urbanization and increasing health consciousness prompt a shift towards bicycles as an alternative means of commuting. Governments across Europe actively promote cycling, emphasizing its role in improving public health and reducing congestion. Rental services offer consumers convenient access without ownership obligations, catering to the fitness and leisure segments. Flexible options, including hourly, monthly, or annual subscriptions, are facilitated through mobile applications, enhancing accessibility. While rental services flourish, their widespread popularity may pose challenges to new bicycle purchases, potentially impacting the market's growth in the medium to long term.
Threats from refurbished bicycles may hinder the growth of the European market. With price-conscious consumers favoring refurbished models, sales of new bicycles face challenges. The rising popularity of refurbished bicycles attracts both consumers unable to afford new ones and market participants exploring this business model. For instance, ReCycle Bikes in the UK specializes in selling reconditioned bicycles. Skilled mechanics meticulously disassemble and rebuild bicycles, ensuring optimal performance. Despite thorough testing, the preference for used bicycles may reduce demand for new ones, impacting revenue and market expansion in the medium to long term.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accell Group NV: The company offers bicycles through its subsidiaries Haibike, Winora, Ghost, Batavus
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. The offline segment in the market in Europe includes specialty stores, sporting goods retailers, outdoor toy retailers, departmental stores, hypermarkets and supermarkets, warehouse clubs, other mass merchants, and discount retail formats.
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The offline segment was valued at USD 10.35 billion in 2017 and continued to grow until 2021. The ability of bicycle specialty shops to sell a variety of bicycles and related accessories drives the dominance of the offline segment. These shops typically sell bicycles from different brands or are brand-owned themselves.
The majority of the time, Companies run brand-owned stores, which are used for more than just selling by serving as platforms for marketing, branding, and promotions. One of the main advantages of specialty shops is that they offer knowledgeable advice to customers. Before making a better purchase decision, customers with expert guidance can learn all there is to know about bicycles. This encourages a large number of people to visit specialty shops.
Bicycle enthusiasts frequent bicycle specialty shops because they provide a wide range of products in specialized categories. They, therefore, have an advantage over other retail establishments. To draw in enthusiasts, many store owners also host special events and product demonstrations. Through specialized stores, various Companies are selling their goods. The aforementioned elements will increase consumer demand for specialty shops, which will fuel the expansion of the offline segment in Europe during the forecast period.
The market is witnessing significant growth, especially in countries like France, Italy, Germany, and the Netherlands, driven by rising environmental concerns and a shift towards eco-friendly transportation. E-bikes are gaining traction in both fitness and leisure segments, offering versatile applications for activities like trekking and recreational cycling. With a focus on medium to long-term market trends, the industry is witnessing innovations such as Made in India e-bikes from leading companies like Hero Cycles and the Hero Motors Company Group. The European market also sees the emergence of sports bicycles, supported by celebrity endorsements and new product developments. Organizations like the Spanish Bicycle Industry Association (AMBE) and Associazione Ciclo Motociclo Accessori (ANCMA) are actively promoting cycling as a means of commuting and improving public health, aligning with initiatives like European Mobility Week and the European Commission's efforts towards clean mobility. Additionally, tire producers like Vittoria and Pirelli are contributing to the market's growth with their high-quality products. The market trends reflect a growing interest in cycling, supported by international sports events and initiatives aimed at enhancing the quality of life through cycling infrastructure and advocacy efforts led by organizations like quierounabici.eu.
Additionally, the market demonstrates promising prospects in the medium to long term, fueled by a diverse array of factors such as cycling events, recreational activities, and growing health consciousness. With an emphasis on body fitness and a shift toward sustainable transportation, the market witnesses a surge in demand for electric vehicles, including e-bikes. The versatile application of bikes, from daily commuting to leisurely rides, underscores their popularity. Established brands like Bianchi, renowned for their Italian output, maintain their presence while emerging trends such as Amsterdam-style bicycles cater to urban commuters. Collaborative efforts by European Coordination and National Coordinators support cycling enthusiasts across the continent, driving participation in cycling championships and promoting a vibrant cycling culture.
The market in Europe report forecasts market growth by revenue at regional and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Europe Bicycle Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.05% |
Market growth 2023-2027 |
USD 4.73 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.85 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accell Group NV, BH BIKES Europe SL, BikeCo LLC, Brompton Bicycle Ltd., Cicli Pinarello Srl, Cycleurope AB, Giant Manufacturing Co. Ltd., GOVECS AG, Kalkhoff Werke GmbH, Kona Bicycle Co., KWANG YANG MOTOR Co. Ltd., LOOK Cycle International, Marin Mountain Bikes Inc., Maxxis International, Merida Industry Co. Ltd., Santa Cruz Bicycles LLC, SCOTT Sports SA, Storck Bicycle GmbH, Trek Bicycle Corp., and Vassla AB |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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