Riding Away on Savings: The German Bicycle Market Faces a Slump - but Consumers Win!
Falling Bicycle Market Revenue: Consumers Reap the Rewards - Decline in Bicycle Sales Market - Advantages for Consumers
Here's the skinny on the German two-wheeled world: The bicycle industry has taken a dip for the first time since 2019, and guess who's the real winner? Yep, you guessed it - us, the customers! The "Future Bicycle" association in Berlin has the numbers, and according to them, we're in luck: discounts are on the horizon.
"We've hit a rough patch in 2024, much like the German economy after years of growth," they said. "Companies suffered from weakening demand, steep price drops, oversaturated inventories, and the fallout from overstocking during the boom."
Revenue Takes a Plunge
In 2024, the German bicycle industry - including manufacturing, retailing, repairs, leasing, and other services - brought in a revenue of €27.2 billion. That's about a 7% drop compared to the previous year's €29.3 billion[2]. Unfortunate for the industry, but hey, more bikes for us! Direct employment also tumbled slightly, from 77,500 to 76,700 workers in 2024[2].
Why the Slump?
Remember the Coronavirus pandemic years (2019-2023)? Many folks discovered cycling as their new favorite socially distanced sport, sending the industry soaring. Revenue practically doubled between 2019 and 2023! However, during those prosperous times, some retailers over-ordered and now find themselves sitting on a mountain of two-wheeled stock they need to shift.
So, dealers are cutting prices to move inventory and attract customers, with the average e-bike price dropping by around €300, from around €2,950 in 2023 to €2,650 in 2024[1][2].
Looking on the Bright Side
"Things are looking up," says Future Bicycle. "The current market conditions have shown improvement in recent months, and inventory levels are steadily normalizing." Bicycle leasing for companies also remains strong.
POLITICAL PUSH: Before the Eurobike fair rolls around in Frankfurt (June 25-29), Future Bicycle is calling on the government to step up investments in cycling infrastructure and offer incentives for electric bikes as part of the e-mobility push.
The bicycle industry could well be the driving force behind sustainable mobility, according to Wasilis von Rauch, head of Future Bicycle. It's become increasingly significant for industry, trade, craft, and services. However, there's still plenty of untapped potential and room for growth, says the association, representing over 100 companies.[2] The industry's impact extends beyond its core areas, playing a vital role in tourism and more.
- Discounts
- Revenue
- Bicycle
- Germany
- Berlin
- Future
- Coronavirus
- Price reduction
- Crisis
- Frankfurt
- Leasing
"Despite the current crisis in the German bicycle industry, leading to steep price drops and revenue plunges, the situation presents opportunities for consumers as dealers offer significant discounts to sell excess inventory."
"In an effort to boost the industry, Future Bicycle, based in Berlin, is urging the government to increase investments in cycling infrastructure and provide incentives for electric bikes as part of the e-mobility push, hoping to tap into the industry's untapped potential and contribute to sustainable mobility."
