Europe Bicycle Market Outlook, 2029

In Europe, bicycles are widely perceived as a sustainable and eco-friendly mode of transportation, embraced by various demographics, including commuters, students, and recreational riders. Countries like the Netherlands and Denmark exemplify this positive attitude, where cycling is deeply ingrained in the culture and supported by extensive infrastructure. In these nations, cycling is viewed as a primary means of transport rather than just a leisure activity, with many residents opting for bicycles for daily commuting. Similarly, cities like Copenhagen are celebrated for their bike-friendly environments, where a significant portion of the population relies on bicycles for transportation.

Germany and France are also witnessing a rise in cycling popularity, particularly in urban areas that have implemented initiatives to promote cycling through improved bike lanes and rental services. A bicycle, defined as a human-powered vehicle with two wheels, is propelled by pedaling and serves multiple purposes, including transportation, recreation, and sport. The benefits of cycling are numerous: it offers excellent cardiovascular exercise, contributes to reduced air pollution and greenhouse gas emissions, and is a cost-effective alternative to motor vehicles. Additionally, increased bicycle use can alleviate traffic congestion, leading to shorter travel times for all road users, while fostering a sense of community by encouraging social interactions and local exploration.

According to the research report, “Europe Bicycle Market Outlook, 2029”, the market was valued at USD 30.49 Billion market size in 2023. The European bicycle market is driven by several key factors that contribute to its robust growth. One significant driver is the increasing popularity of electric bicycles (e-bikes), which appeal to a broader audience, including those who may have previously considered cycling impractical due to physical limitations or longer distances. Additionally, there is a rising interest in cycling as a form of exercise, with many consumers adopting it for leisure and fitness, further boosting sales across various bicycle types.

Growing environmental awareness also plays a crucial role, as more individuals seek eco-friendly transportation alternatives to combat climate change and reduce pollution. Furthermore, investments in cycling infrastructure, such as dedicated bike lanes and car-free zones, enhance safety and accessibility, promoting cycling as a primary mode of transport. The popularity of recreational and competitive cycling events fosters community engagement, while technological advancements in bicycle design attract tech-savvy consumers.

The European bicycle market is diverse, segmented into several types including road bikes, mountain bikes, hybrid bikes, e-bikes, and others such as kids' bikes and standard models. Among these, e-bikes and road bikes stand out as the largest segments, reflecting a growing consumer preference for performance and sustainability. Road bikes are favored for their speed and efficiency, appealing to both competitive cyclists and recreational riders. Mountain bikes cater to adventure enthusiasts, designed for rugged terrains and off-road experiences.

Hybrid bikes combine features of both road and mountain bikes, offering versatility for urban commuting and leisure rides. E-bikes have gained significant traction due to their electric assistance, making cycling more accessible and enjoyable for a broader audience. Additionally, the 'others' category includes bikes tailored for children and specialized models like Mobility as a Service (MaaS) bikes, which are increasingly popular in urban settings.

In the European bicycle market, the segmentation by end user reveals distinct preferences among men, women, and kids, with men holding the highest market share. This trend is attributed to men's greater engagement in cycling, often driven by a combination of fitness, competition, and recreational activities. Women are increasingly participating in cycling, spurred by initiatives promoting gender equality in sports and the availability of stylish and functional women-specific bike designs. Meanwhile, the kids' segment is vital, as parents prioritize safe and durable options to encourage outdoor activity among younger generations.

When examining the market through the lens of biker types, the categories of highly engaged, engaged, leisure, and travel cyclists showcase varying levels of commitment and activity. Among these, leisure cyclists represent the largest share, as many individuals in Europe embrace cycling as a relaxing and enjoyable pastime rather than a competitive sport. This segment is particularly appealing due to the growing trend of cycling for recreation and family outings. However, highly engaged cyclists, who are often more serious about the sport, also contribute significantly to the market dynamics. The interplay between these segments indicates a robust cycling culture in Europe, driven by diverse user demographics and varying levels of engagement, with men and leisure cyclists leading the way in terms of market share. This multifaceted landscape not only highlights the popularity of cycling but also underscores the importance of catering to different user needs and preferences within the region.

The European bicycle market is increasingly divided into two primary segments: electric and conventional bikes. The electric bike segment has gained significant traction, driven by factors such as rising fuel costs, environmental concerns, and the demand for efficient urban commuting solutions. In 2023, e-bike sales in Europe reached approximately 5.2 million units, with Germany leading as the largest market for both electric and conventional bicycles. The appeal of electric bikes lies in their convenience and enhanced performance, particularly for commuters navigating congested urban environments.

Conversely, the conventional bike segment remains robust, catering to traditional cycling enthusiasts and those seeking a more straightforward riding experience. However, the market for conventional bikes has seen a decline in sales, which contrasts sharply with the growth of electric models. This shift indicates a broader trend towards electric mobility solutions across Europe, highlighting the growing consumer preference for e-bikes as a modern transportation alternative.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the bicycle market. As lockdowns and social distancing measures were implemented, people turned to bicycles as a safe, healthy, and environmentally friendly mode of transportation and exercise. This led to a surge in demand, particularly for bicycles suitable for commuting and recreational activities. Additionally, the pandemic accelerated the development of cycling infrastructure in many cities, making cycling more accessible and convenient. While supply chain disruptions posed challenges, the long-term impact of the pandemic on the bicycle market is likely to be positive, with a sustained increase in cycling participation and a shift towards healthier and more sustainable lifestyles.

Considered in this report

• Geography: Europe
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

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

• Germany
• United Kingdom
• France
• Italy
• 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

By Technology Type

• Electric
• Conventional

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 analysing 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.

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