2024 European E-Bike Market Overview

　　General Trends

　　In 2023,bicycle sales across Europe declined,leading to a decrease in revenue.In 2024,the primary reason for the revenue drop is the reduction in prices.Data from bicycle manufacturers and dealers'associations in several European countries indicate that discounts are eroding industry profits and revenues.

(Image source: Internet)

　　Europe's Bike Boom Fades:2024 Market Faces Saturation and Slump

　　In 2022,European bicycle demand reached a historic high.However,in 2023,bicycle sales across the continent dropped significantly.Entering 2024,markets in Germany,the Netherlands,Belgium,Switzerland,and the UK remain challenging.The bicycle markets in these countries are saturated,and demand is temporarily low.Non-electric mountain bikes and city e-bikes are particularly affected.Due to strict regulations,high-speed electric assist bikes are still difficult to sell in Germany,and this category has also lost momentum in Belgium and the Netherlands.

　　High-End and Sporty Bikes Shine Amid Market Slowdown in 2024

　　However,high-end road bikes and gravel bikes are selling well in 2024 without discounts.Premium road bike brands like Pinarello and Colnago performed unexpectedly well in 2023,and drop-bar bike sales in Germany,Belgium,the Netherlands,and Switzerland offer a glimmer of hope.Lightweight,sporty e-bikes are also performing well.This segment is relatively new,and the market is still expanding rather than saturated.Finally,to ensure that all bicycles purchased during the pandemic operate smoothly,there is strong demand for in-store services and repairs.

　　Germany

　　According to data from the German Bicycle Industry Association(ZIV),the German bicycle market declined by 2.53% year-on-year,reaching 3.85 million units sold.E-bikes accounted for 53%of the market share,with 2.05 million units sold,a 2.4% decrease compared to the previous year.Traditional bicycle sales dropped by 5.3% to 1.8 million units.

　　Germany's Bike Revenue Drops 10.3%—Yet Still 50% Above 2019 Levels

　　In terms of revenue,the German bicycle market shrank by 10.3% to €6.33 billion.However,this figure is still more than 50% higher than in 2019.All market participants,from independent bicycle dealers to brands relying on D2C sales and large supermarkets,implemented discounts to clear inventory.This is reflected in the average selling prices:e-bikes decreased by 10.2% to €2,650,while traditional bicycles increased by 6.4% to €500.

(Image source: Internet)

　　Germany's Bike Production and Trade Plummet as Market Cools in 2024

　　One consequence is that domestic bicycle production in Germany declined by 13.8% year-on-year,with e-bike production dropping by 14.8% and traditional bicycle production by 11.7%.German exports also fell by 10%,with e-bike exports decreasing by 5% and traditional bicycle exports by 15%.Imports decreased by nearly 30%,with little difference between e-bikes and traditional bicycles.

　　Germany Shifts to EU Suppliers for E-Bike Imports as Asia's Share Declines

　　Regarding the sources of imported bicycles,53% of traditional bicycles came from other EU countries,and 40% from Asia,with Cambodia,Bangladesh,and China being the most significant suppliers.Portugal and India emerged as the biggest winners.For e-bikes,the situation differs:EU countries accounted for 75% of Germany's imports,up from 70% the previous year,while Asia's share dropped to 21%.Germany's main European e-bike suppliers are the Czech Republic,Bulgaria,Hungary,and the Netherlands,while Vietnam and Taiwan are the most important Asian exporters.

(Image source: Internet)

　　Switzerland

          Swiss Bike Sales Down 13.6% in 2024 as Market Saturation and Weather Weigh In

　　The Swiss bicycle market contracted by approximately 54,000 units year-on-year,totaling 341,142 units sold,a 13.6% decrease.E-bike sales declined by 12% to 151,772 units,representing a market share of 44.5%.Traditional bicycle sales dropped by 15% to 189,370 units.

　　The Swiss Bicycle Association(Velosuisse)pointed out that partial market saturation,low consumer confidence,and excessive spring rainfall slowed down inventory clearance.Additionally,ownership changes at the Bike World chain and associated discounts significantly pressured profit margins.

(Image source: Internet)

　　Netherlands

　　Dutch Bike Sales Drop 7% in 2024,But E-Bikes Still Drive 72% of Revenue

　　In 2024,the Dutch bicycle market experienced a significant contraction.According to data released by the bicycle associations Bovag and RAI,bicycle sales totaled 858,126 units by the end of the year,a 7% decrease compared to the previous year.However,revenue from bicycle sales only declined by 4% to €1.55 billion,while the average selling price increased by 3% to €1,809.E-bike sales fell by 9% to 409,467 units,with their market share dropping below 50% again.Despite this,e-bike sales still accounted for 72% of the total bicycle revenue,and the average e-bike price rose by 5% to €2,719.

　　Fat-Tire E-Bikes Make Up 13% of Dutch Sales in 2024—But Many Bypass EU Rules

　　The fat-tire bicycle category in the Netherlands is quite unique.Introduced in 2020,these fat-tire bikes are almost entirely equipped with electric drive systems,featuring small-diameter wheels with extra-wide tires and seats accommodating two adults.In 2024,the Netherlands sold 111,033 fat-tire bicycles,accounting for 13% of total sales.However,most of these bikes are sold through D2C channels,and many do not comply with EU regulations,as they are equipped with throttles and can easily have their top speeds adjusted.

　　Belgium

      Belgium's Bike Market Shrinks 8.2% in 2024, But E-Bikes Now Hold 61% Share

　　Regarding the Belgian market,data from the national federation Traxio and market research firm GfK indicate that consumer confidence remained low in 2024,with the overall market contracting by 8.2% year-on-year.E-bike sales decreased by only 5.9%,while traditional bicycle sales dropped by 11.6%.

　　E-bikes'market share increased to nearly 61%,while the combined revenue from bicycles and e-bikes fell by 5.8% to €691.6 million.Sales of high-speed electric assist bikes plummeted by 17.5% year-on-year,but second-hand bike sales grew by 18.3%,mainly due to expiring lease contracts and the introduction of refurbished models.

(Image source: Internet)

　　United Kingdom

　　UK Bike Sales Hit 20-Year Low in 2024,But Market Shows Signs of Stabilizing

　　The UK Bicycle Association also provided an early forecast for the 2024 bicycle market.Bicycle sales continued to decline,reaching their lowest level since the turn of the millennium.Traditional bicycle sales fell by 4% to 1.45 million units,while e-bike sales dropped by 5% to 146,000 units,with a market share of only 9%.Fortunately,compared to previous years,the annual decline rate in 2024 began to slow down.After a challenging first half of the year,the market stabilized in the second half,and there was strong demand for bicycle services and repairs.