2022 is drawing to a close. Looking back at the past year, what changes have taken place in the global bicycle industry?

The global market size of the bicycle industry is growing

Despite the supply chain problems caused by the epidemic crisis, the demand in the bicycle industry continues to grow, and the total global bicycle market is expected to reach 63.36 billion euros in 2022. Industry experts expect an annual growth rate of 8.2% between 2022 and 2030, as many people now choose to cycle as a mode of transportation, a form of exercise that enables them to fight off numerous diseases.

Digitization, online shopping, social media and mobile apps have fueled demand and made it easier for consumers to find and purchase the products they need. In addition, many countries have expanded bicycle lanes to provide riders with a safe and comfortable riding environment.

Road bike sales remain high

The road vehicle market accounted for the largest revenue share at over 40% by 2021 and is expected to maintain its leading position in the coming years as well. The Cargo bike market is also growing at an astonishing rate of 22.3%, as more and more users prefer to use CO2-free vehicles instead of motor vehicles for short-distance transportation.

Offline stores still account for 50% of sales

Although half of all bicycles sold in 2021 will be sold in offline stores, in terms of distribution channels, the online market should grow further globally this year and beyond, mainly due to the penetration of smartphones and Internet usage in emerging markets. market growth. Markets such as Brazil, China, India and Mexico are expected to boost consumer demand for online shopping.

More than 100 million bicycles will be produced in 2022

More efficient production processes and improved manufacturing techniques produce more bikes at lower cost. It is estimated that by the end of 2022, more than 100 million bicycles will be produced.

The global bicycle market is expected to grow further

Considering the world’s population growth, rising gasoline prices and the shortage of bicycles, it is expected that more people will use bicycles as a means of transportation. Given this, the value of the global bicycle market could grow from the current €63.36 billion to €90 billion by 2028.

Sales of e-bikes are about to grow

The e-bike market is growing significantly, with many experts predicting that global sales of e-bikes will reach 26.3 billion euros by 2025. Optimistic forecasts show that e-bikes are the first choice for commuters, which is also considering the convenience of commuting on e-bikes.

There will be 1 billion bicycles in the world by 2022

It is estimated that China alone accounts for approximately 450 million bicycles. The other largest markets are the US with 100 million bikes and Japan with 72 million bikes.

European citizens will have more bikes by 2022

Three European countries are at the top of the rankings for bicycle ownership in 2022. In the Netherlands, 99% of the population owns a bicycle, and almost every citizen owns a bicycle. The Netherlands is followed by Denmark, where 80% of the population owns a bicycle, followed by Germany with 76%. However, Germany topped the list with 62 million bicycles, the Netherlands with 16.5 million and Sweden with 6 million.

Poland to experience skyrocketing bicycle commuting rates in 2022

Of all European countries, Poland will see the largest increase in weekday cycling (45%), followed by Italy (33%) and France (32%), while in Portugal, Finland and Ireland, fewer people will cycle by 2022 in the previous period. Weekend riding, on the other hand, is growing steadily across all European countries, with England seeing the most significant growth, increasing by 64% over the 2019-2022 survey period.