Spain market report: Bike prices stabilise, sales dips & production rises

Like much of Europe, the Spanish bicycle industry closed out 2023 with a reduction in sales but there was some positive news on production, according to the new Spain market report.

Figures published today by the Association of Brands and Bicycles of Spain (AMBE) in collaboration with Cofidis, revealed that bicycle sales were at pre-Covid levels while turnover exceeded pre-pandemic figures thanks to electric bicycles.

Bicycle production in Spain recorded its third best year ever with 301,100 bicycles produced worth €245.5 million in 2023 alone, with employment levels remained similar to those of the previous year.

Compared to 2019, bicycle sector turnover was 32.3% higher in 2023. The comparison with 2022 was less flattering, however, with sector turnover down 8.79%: Bicycles were worst hit (-10.44%), followed by tools (-8.28%), bicycle parts (-7.69%), helmets (-6.79%) and textiles/apparel (-6.13%).

E-bikes stand out

As in other territories, eBikes managed to baulk the trend. Unit sales were up 2.28% on the previous year, exceeding 241,000 bicycles sold in Spain in 2023. However, turnover fell by 11.32% due to the reduction in the average price of electric bicycles.

AMBE noted that it is the fourth consecutive year in which electric bicycles are the leading category in bicycle turnover (45.2%), followed by the MTB category with a 26.3% market share in value terms.

By categories of electric bikes, electric mountain bikes (141,175 units), electric city bikes (62,630 units) and electric touring bikes (22,858 units) are the most popular.

The increase in sales of electric cargo bikes (eCargo bikes) to almost 2,500 units sold in 2023 was picked out as noteworthy. Meanwhile, 9,943 electric road bikes and 2,488 gravel bikes sold in the last year.

Mountain biking (both electric and conventional) remains the most popular bicycle in Spain with 500,000 units sold in 2023, of which more than 140,000 were electric.

However, the conventional mountain bike category recorded the largest decline in unit sales, falling from 468,000 units sold in 2022 to almost 360,000 units sold in 2023. This is a reduction of 23.08%, which puts conventional mountain bikes behind the children’s bike category (362,100) in units sold.

On the other hand, the sum of urban bicycles and touring bicycles (electric and conventional), place these categories above 200,000 units sold in Spain in 2023.

Jesús Freire, Secretary General of AMBE said: “The absence of tax incentives for purchasing a bicycle or aid for the purchase of bicycles at the state level, as in other countries around us, hinders the demand for bicycles, electric bicycles and cargo bikes in our country. This has a direct impact on the sector and on employment.”

Average bike price tops €1,000 again

The average price of bicycles sold in Spain in 2023 was above 1,000 euros for the second year in a row, reaching €1,139.15 compared to €1,120.7 in 2022. This represents a 1.65% increase, which is almost half of the Consumer Price Index (CPI) in Spain in 2023 (3.1%).

Among the categories with the greatest decrease in average price are electric bicycles with an average price of €2,549 and a decrease in prices of 13.3%, urban bicycles, with a retail price of €254 and a decrease of 16.72%, and the gravel category with a 10% decrease in retail price, reaching €1,427.

The mountain bike category increased its price to €997 (+7.55%) and the road bike category to €2,645 (+4.57%), registering the highest average price increases.

Bicycle production

In 2023, 301,100 bicycles were produced in Spain with a value of €245.5 million. This is the third best year in the historical series behind only 2021 (€249 million) and 2022 (€256 euros), according to data from the Ministry of Industry and Tourism.

The bicycle sector in Spain is made up of more than 3,300 companies. Among them, there are 400 manufacturers, importers and distributors, of which approximately half are national producers. Spain has a network of more than 3,000 bicycle sales, repair and rental outlets. The sector employs more than 24,000 people directly.

“The year 2023 has been a year of strong adjustments and this is reflected in the turnover of the sector. In spite of everything, production, companies and employment are holding up,” said a spokesperson from the employers’ association.

Image by Faris Hamza from Pixabay