Last year, for the first time, more e-bikes were sold than bicycles powered solely by thigh power. Of the approximately 421,000 bicycles sold, 52 percent were e-bikes; the market share for adult bicycles was 62 percent, according to ARGE Fahrrad. The bottom line is that in 2023 the bicycle industry was in low gear and there was a significant decline in sales.
Compared to 2022, turnover decreased by 16.8 percent. According to the bicycle interest group, the market is now approaching 2019 levels. “In 2020, 2021 and 2022, the sales volume was at an above-average level. This disproportionate growth was mainly caused by the pandemic-related catch-up effects and led to high retail inventories in 2022 and 2023,” explains Hans-Jürgen Schoder, spokesperson for ARGE Fahrrad.
Increasing demand for folding bicycles
Yet demand remains high. “With a few exceptions, sports and bicycle shops report satisfactory sales and turnover figures,” Schoder emphasizes. The bicycle sales figures also showed the rapidly increasing demand for folding and transport bicycles.
More than 8,000 folding bicycles were sold in 2023. This means that demand has doubled within a year. 68 percent of folding bicycles sold were non-electric. On average, a folding bicycle without battery costs 1,954 euros and an e-folding bicycle 2,578 euros. According to the bicycle industry, up to 500 euros is currently being financed.
Lastenräder boomen
5,530 transport bicycles were sold. Only about 470 of these were equipped without electric drive. The average price for an e-transport bike was 5,620 euros. Currently, up to 900 euros are being financed, according to Michael Nendwich, spokesperson for the sporting goods trade at the Chamber of Commerce.
For the third year in a row, bicycle sales at sports and bicycle shops amounted to more than one billion euros. 75 percent of the total turnover came from the sale of e-bikes.
Of the non-electrically powered bicycles, the model categories of folding bicycles, cross bicycles, gravel bicycles and racing bicycles have grown the most. “Inventories must first be reduced, but we expect the bicycle market for the industry to stabilize by 2025 at the latest,” says Schoder, looking to the future.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
