Pedaling Towards Adjustment: 2024's Shift in Bicycle Industry Sales and Falling Prices
Significant Reduction in Bicycle Sales Industry - Prices Lowered by Approximately 20% by the Year 2024 - Decline in Bicycle Sales Market - Expected Substantial Price Reductions in 2024
Get ready to ride as we delve into the changing tides of the bike world! In 2024, EY reported a modest decrease in E-bike sales by 2%, amounting to 2.0 million units, and a corresponding 12% decrease in revenue to 5.4 billion euros, as sells of mechanical bicycles also slipped by 5% to 1.8 million units [1]. It's worth mentioning that Germany, as always, remained the market leader, with a combined revenue of 6.3 billion euros. Italy followed distantly with 2.6 billion euros, followed closely by France at 2.0 billion euros [4].
Stefan Mohr from EY was frank about the industry's troubles, stating, "Unfortunately, the German bicycle industry had to accept painful revenue losses again in 2024" [1]. Despite the disadvantageous figures, it's important to consider that the industry's revenue was still 58% higher than the pre-pandemic year of 2019, signaling a positive long-term trend [2].
The bicycle market has undergone some profound changes since the pandemic peak. As the demand, spurred by lockdowns and the search for outdoor activities, surged in previous years, so did the prices for both E-bikes and mechanical bicycles [2]. But, in 2024, the story took a turn. Due to excess inventories and market corrections, the average price of E-bikes slumped significantly by 10%, settling at €2,650 [2][4].
While the bike industry grappled with these shockwaves, the momentum gradually seems to be shifting. The ZIV revealed an encouraging jump in bicycle sales during the first quarter, with a 10% increase in mechanical sales and an 11% surge in E-bike sales [3]. The industry's fortunes might finally be turning the corner, with improvements in both production and trade [3].
In conclusion, the cycling industry took a knock in 2024, experiencing a decline in sales and revenue, particularly when it comes to E-bikes and mechanical bicycles. The reasons are multiple, from the post-pandemic market correction and persistently high inventories to shifting demand patterns and a cautious economic environment [2][3]. Despite the turbulence, the industry remains hopeful for recovery, as promising signs emerge in 2025 [1][2][3].
- Bicycle industry struggles
- Sales and revenue dip
- E-bike
- Economic impact
- Recovery prospects
[1] EY Press Release[2] Market Data & Analysis[3] ZIV Press Release[4] Statista
- In the face of the cycling industry's struggle, a shift in employment policy may be necessary to address the declining sales and revenue, particularly in the E-bike sector, to support a potential economic recovery.
- As the weather improves and outdoor activities gain popularity, the bicycle industry could potentially capitalize on this trend by implementing an employment policy that emphasizes the promotion of cycling as a healthier and more sustainable mode of transportation, thereby fostering growth in sales and employment within the industry.
