European electric bike sales pass 5 million, all bikes 22 million

New data published this week by EU trade umbrella CONEBI reveals that electric bikes sales topped 5 million in 2021, helping drive overall bike unit sales north of 22 million.

The record breaking figures saw the market value top €19.7 billion, up 7.5% year-on-year.

In localised production, a segment that has built its strength in Europe during the Covid period, the manufacture of bicycle components and accessories has tallied a market value of €3.6 billion, up €0.6 billion year-on-year.

All of this has had an extremely positive effect on job creation and CONEBI suggest that direct manufacturing jobs reached 87,000 in 2021, up from 77,500 the year prior. In total, counting both direct and indirect jobs, it is said that 170,000 European jobs are tied to the cycling industry.

“I am glad to see that our sector – in terms of green jobs creation, sustainable local manufacturing, entrepreneurship & investments, innovation and environmental footprint – is concretely contributing to the European Union goals, making the industry one of the biggest within the European Union’s Green Economy,” states Manuel Marsilio, CONEBI General Manager.

Investment directly into the industry surpassed €1.75 billion, believes CONEBI, about 17% ahead of 2020 levels. A growth of SME numbers present in Europe is counted at somewhere between 5% and 10% for 2021.

“Reshoring is taking place, and the well-known supply chain disruptions are triggering a new wave of industrialization in Europe: it is a process that will take time but represents a unique opportunity for the European industrial ecosystem to grow sustainably in the long-term. More local production – starting from the manufacturing of cycle parts – and proximity to the consumer, are an essential part of the transition,” outlines Erhard Büchel, President of CONEBI.

Investment into generating more electric bike sales is a focal point for numerous brands. The likes of KTM, Cube and Riese & Müller have each piled investment into greater production, while interest in the segment from the outside of the bike industry is at a record high.

There is a projection for bike sale numbers to hit 30 million by 2030, which you can read more about in our latest issue.

The CONEBI report in full is purchasable by emailing the trade body here.

For a market report on investment and trends in the UK, CyclingIndustry.News’ annual study is able to be bought at £600 by emailing here.