Europe’s bicycle and e-bike industry is navigating a period of simultaneous adjustment and growth. Recent data shows that while traditional cycling faces market pressures, the e-bike segment continues to gain traction as a key driver of urban mobility and sustainable transport.

Bicycle Market Overview

In 2024, Europe’s bicycle market reached $24.46 billion, with projections estimating growth to $26.75 billion in 2025 and up to $54.72 billion by 2033, representing a CAGR of 9.36%. Road bikes remain the primary revenue generator, while cargo and utility bicycles are experiencing the fastest growth.

Despite steady demand, the market faces challenges including supply chain constraints and inventory backlogs, requiring manufacturers and retailers to adapt strategically.

E-Bike Market: Growth Amid Adjustment

Europe’s e-bike segment saw a slight sales decline in 2023, with 4,178,713 units sold, down 8% from 2022. Yet, the market remains robust, valued at $17.5 billion in 2024 and expected to reach $25.1 billion by 2034, growing at a CAGR of 3.8%.

Germany continues to dominate the e-bike market, selling 2.1 million units in 2023, accounting for 53% of new bike sales. Conversely, the UK lags behind, with only 2.1 e-bikes sold per 1,000 people compared to Norway’s 36.2 units, largely due to limited government incentives and infrastructure constraints.

Regional Insights

France: E-bikes are increasingly popular, supported by government subsidies, though supply chain bottlenecks continue to challenge consistent growth.

Spain: The bicycle market generated €2.475 billion in 2023, despite an 8.8% decline in unit sales. E-bikes remain a significant growth segment.

Market Outlook

Looking ahead, the European bicycle market is projected to reach $46.98 billion by 2030, with a CAGR of 9.41%. While supply chain issues and market adjustments remain, continued government support, infrastructure development, and the rising popularity of e-bikes suggest strong growth potential for the next decade.

Industry experts note that the integration of e-bikes into urban mobility plans and continued investment in cycling infrastructure will be key drivers of sustainable growth, positioning Europe as a global leader in both traditional and electric cycling markets.