European bicycle market expected to exceed $20 billion in 2026

According to Global News, Reportlinker.com recently released a report on "European Bicycle Market Growth Trends". Data showed that the European bicycle market was valued at US$16.387 billion in 2020, with an expected compound annual growth rate of 3.73% from 2021 to 2026. By 2026, the bicycle market will exceed US$20 billion.

The COVID-19 pandemic has affected the European bicycle market, but as lockdown measures ease, people are becoming more and more eager to exercise and keep fit, which has driven the development of the bicycle and fitness equipment market. In addition, the increase in bicycle competitions and the expansion of infrastructure have also driven the development of the bicycle market, especially sports bicycles .

The report pointed out that due to aggressive marketing campaigns and environmental concerns, more people are beginning to choose environmentally friendly travel methods . Compared with traditional bicycles, the demand for electric bicycles is higher in countries such as France, Italy, Germany and the Netherlands.

According to data from the Netherlands Central Bureau of Statistics, the total number of stores selling bicycles in the Netherlands has been increasing since 2015, the number of users choosing bicycles for hiking and recreational activities has continued to increase, and cycling events have been held more frequently, all of which reflect the strong demand in the Dutch bicycle market.

In addition, many governments have also formulated different plans to prosper the bicycle market. For example, in April 2017, the British government issued 200 million pounds to make cycling and walking the first choice for short trips. The Swedish government has adopted a national cycling strategy to make cycling safer and contribute to the sustainable development society and high quality of life for the whole country. In addition, the Swedish government has invested 100 million Swedish kronor in another bicycle plan in 2016-2017.

The report also pointed out that Germany has the largest market share in the European bicycle market . However, unlike other countries, cargo bikes are developing rapidly in the German bicycle market, influenced by local enterprises and small companies.

According to data from Germany's ZIV, a total of 39,200 electric cargo bikes were sold in Germany in 2018, while 36,062 new electric vehicles were registered in Germany. Germany has also built a "bicycle highway" to contribute to the prosperity of the bicycle market. It is reported that the bicycle highway may extend to 62 miles, connecting 10 cities and 4 universities.

In addition, the European bicycle market is highly fragmented. The market is dominated by Accell Group, Trek Bicycle Corporation and Giant Manufacturing Co. Ltd., and many of these companies are involved in the electric bicycle market to further expand their influence. In addition, as early as 2019, Accell Group built an e-commerce platform to meet people's demand for electric bicycles, which may replace the websites of various European bicycle brands.

According to the latest vaccination plan released by the European Union, 70% of adults will receive at least one vaccine shot by the end of the second quarter. By then, more and more people will return to normal life, and the bicycle market will surely receive a large number of orders. Therefore, sellers of bicycles and accessories can pay more attention to the dynamics of the European bicycle market, especially the German market.

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