Bicycle industry overstocks could resolve in 2025, says CONEBI
CONEBI has released its assessment of the market in time for next week’s Eurobike show in Frankfurt. Essentially corroborating the view that a difficult 2023 saw a ‘reset’ of the bicycle industry, the group – representing many bicycle associations across Europe – deemed it possible that the overstock issue that has blighted the market “might be resolved in 2025”.
That view supports the glib catchphrase heard earlier in the industry earlier this year – survive to 2025.
CONEBI’s 2024 European Bicycle Industry and Market Profile (BIMP) report noted that long-term the market grown, particularly over the past decade (driven by infrastructure and eBike popularity). However it didn’t pull its punches, detailing 2023’s sales declines:
Bicycle sales totalled 11.7 million units (2022: 14.7 million), while eBike’s sales decline was more modest at 5.1 million units (2022: 5.5 million). Combined sales of bicycles and eBikes amounted to €19.3 billion, a (better than expected?) 8.9% decrease from 2022. CONEBI duly pointed out that it was a tough comparison: 2022 saw a continuation of the exceptionally positive sales during the pandemic years.
Production: European bicycle production capacity rises despite overstock challenges
Production saw a sharper decline in response to 2023’s notorious overstocks. However, investments in production capacity continued with new factories and warehouses being built in various EU countries. Investments remained strong at over €1.9 billion (2022: €2.1 billion) “reflecting continued confidence and dedication to growth”.
Cycling industry employment in Europe declines
While CONEBI noted large variations between different countries, employment was down in 2023 – also a grimly unsurprising finding considering the number of company insolvencies CIN reported on over the year. With info gleaned from 1,200 companies across Europe, employment was down on average -5.5% on 2022.
CONEBI President Massimo Panzeri said: “Effective policies at the European level – within the framework of the European Green Deal and of a solid EU Industrial Strategy – like the recent European Declaration on Cycling and the report on the Transition Pathway of the Mobility Industries – are essential to boost both cycling and the cycling industry across Europe. The CONEBI national member organisations have a pivotal role in this too.”
CONEBI is the Confederation of the European Bicycle Industry. Find out more here.
