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The European bicycle market was valued at USD 16,387.41 million in 2020, and it is projected to a CAGR of 3.73% during the forecast period (2021-2026

·4-min read

). The impact of COVID-19 in the European 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.

New York, April 19, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Europe Bicycle Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" -
Likewise, an increasing application base of bicycles in trekking and recreational activities, coupled with a rising number of cycling events are expected to propel the demand for bicycles in general and sports bicycles in particular.

Over the long term, the European bicycle market is driven by bicycle demand for both fitness and leisure. The increase in the number of people who use a bicycle 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 and causing 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.

Key Market Trends
Favorable Government Initiatives Supporting the Bicycle Industry 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 in trekking and recreational activities, coupled with an increasing number of cycling events, will increase the demand for sports bicycles over the forecasted period.

At the same time, various organization and governments are aggressively deploying the infrastructure in the developed economies needed to support the switching of bicycles, thereby encouraging people to opt for bicycles. For instance, in April 2017, the United Kingdom 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 Sweden 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 has invested a total of SEK 100 million in an additional cycling initiative in 2016–2017.

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.

Competitive Landscape
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.

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