Contrasting e-bikes sales in various European countries

In 2024, Europe’s bicycle markets continued to regulate to post-pandemic realities. In Austria and Italy, the markets stabilised with the e-bike segment continuing to drive growth. Switzerland, in contrast, experienced a sharp 14% sales slump, with e-bikes stagnating and most segments declining. Meanwhile, Spain saw turnover fall for a third consecutive year, with e-bike sales dropping but still above pre-pandemic levels, and pockets of growth in road, gravel, and cargo bikes.

Austria

Austrian e-bike market share shifts

Austria’s bicycle market, after a pandemic-driven boom and subsequent downturn, stabilised at a 'high normal level' by 2023. Figures from ARGE Fahrrad show that despite a challenging economic climate and a slight decline in total sales, the drop was less severe than anticipated, with the e-bike segment showing particular resilience and growth. E-bikes now hold a major share of the market, supported by government subsidies and increasing use for commuting. The 2024 sales figures show that e-cargo bikes skyrocketed (49%), while e-folding bikes saw an increase of 34%. E-MTBs also continued to perform well, while certain non-electric categories like gravel and road bikes also saw notable growth. These trends, along with the impact of subsidies and shifting consumer preferences, are shaping Austria’s bicycle market in 2024.

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Switzerland

Swiss sales slump as bicycle market drops

In 2024, Switzerland’s bicycle industry saw a steep 14% drop in sales (54,000 units), reaching the lowest level since 2017. E-bikes continued to lag behind regular bicycles, maintaining a stagnant 45% market share for the third year. Major segments saw significant declines, with sports, leisure, and everyday bikes each falling by 15%, while the decline was 10% for sports e-bikes and 13% for everyday e-bikes. Speed pedelecs, once a promising commuter alternative, saw sales plunge 21%. Despite these challenges, small growth was seen in niche segments like e-gravel, e-road, and e-cargo bikes, and wholesalers bucked the trend with a 7% increase in sales. However, the industry overall struggled with price erosion and margin pressure, even as repair revenues saw a slight uptick.

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Italy

Italian bicycle market stabilises

After two years of sharp declines, Italy’s bicycle market stabilised in 2024, with sales of over 1.3 million units – a marginal 0.7% decrease. E-bikes continue to drive growth, with 274,000 units sold (+0.3% over 2023), accounting for 20% of all bicycle sales in Italy. While traditional bikes still dominate at 80%, their sales have dropped 29% since 2019. Production and exports for both segments saw modest gains, and the industry’s €2.6 billion turnover is 24% above pre-Covid levels. Despite pricing pressures and global uncertainties, the sector’s trade balance improved and domestic production expanded. The market’s resilience is underpinned by strong consumer interest and ongoing innovation, especially in e-bikes.

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Spain

Spain sees further 6.5% contraction

In 2024, Spain’s bicycle industry saw turnover fall for a third consecutive year, down 6.5% to €2.3 billion, though still above pre-pandemic levels. Bicycle and e-bike sales made up 56% of this total (€1.3 billion), with 1.1 million bikes sold – a 12.8% drop. E-bike sales, at almost 195,000 units, were the lowest since 2020 but 36% higher than in 2019; however, their market share slipped by 2% to 18%. Road, gravel, and cargo bikes saw growth, while mountain bikes dropped nearly 30%. Domestic production rose 2.9% to 309,900 units. The sector employs over 24,000 people but faces challenges from weak urban cycling policies and slower e-bike adoption compared to other European markets.

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