Europe: Bicycle Market 2024

Bicycle Market Size in Europe

In 2021, the Europe bicycle market decreased by -15.3% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Bicycle Production in Europe

In value terms, bicycle production rose rapidly to $X in 2021 estimated in export price. In general, production, however, showed a resilient increase. The growth pace was the most rapid in 2018 when the production volume increased by 297%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Bicycle Exports

Exports in Europe

In 2021, the amount of bicycles and other cycles exported in Europe soared to X units, increasing by 16% against the year before. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bicycle exports reached $X in 2021. The total export value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 17%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Italy (X units), Portugal (X units), the Netherlands (X units), Spain (X units), Germany (X units), Romania (X units), Poland (X units), Belgium (X units), the UK (X units), Bulgaria (X units), Lithuania (X units) and the Czech Republic (X units) represented roughly 85% of total exports in 2021.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +6.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bicycle supplying countries in Europe were the Netherlands ($X), Germany ($X) and Portugal ($X), with a combined 50% share of total exports. These countries were followed by Italy, Spain, Belgium, Poland, Bulgaria, Romania, the Czech Republic, the UK and Lithuania, which together accounted for a further 38%.

In terms of the main exporting countries, Poland, with a CAGR of +8.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Europe amounted to $X per unit, shrinking by -2.7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 when the export price increased by 11% against the previous year. As a result, the export price attained the peak level of $X per unit, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per unit), while Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+12.8%), while the other leaders experienced more modest paces of growth.

Bicycle Imports

Imports in Europe

In 2021, supplies from abroad of bicycles and other cycles increased by 12% to X units, rising for the fifth consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bicycle imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, the Netherlands (X units), the UK (X units), Germany (X units), Russia (X units) and France (X units) was the largest importer of bicycles and other cycles in Europe, mixing up 61% of total import. It was distantly followed by Belgium (X units), comprising a 5.2% share of total imports. Spain (X units), Poland (X units), Italy (X units), Austria (X units), Ukraine (X units), Denmark (X units) and Sweden (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Austria (with a CAGR of +35.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the UK ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 42% of total imports. France, Belgium, Spain, Austria, Italy, Russia, Denmark, Poland, Sweden and Ukraine lagged somewhat behind, together accounting for a further 41%.

In terms of the main importing countries, Austria, with a CAGR of +44.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, dropping by -2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 when the import price increased by 11%. As a result, import price attained the peak level of $X per unit, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform