Bicycle Market 2024 Slowed Down by Weak Economy

Last year, industry sales to retailers fell below 400,000 bikes again, specifically by 6.1 percent to 395,426 units - roughly the same amount sold in 2016. E-bikes remained in demand, with their market share in the overall bicycle market increasing further in 2024, as reported by the Association of Sporting Goods Manufacturers and Suppliers of Austria (VSSÖ) and the ARGE Fahrrad on Friday.

The decline in sales to retailers was expected due to the bleak economy and the resulting weaker demand from consumers. Additionally, the market has left behind the disproportionate growth of the Corona years 2020 to 2022 and has settled at a "normal" level. Nevertheless, "political conditions are needed to stimulate the economy and strengthen purchasing power," demands Hans-Jürgen Schoder, spokesperson for ARGE Fahrrad.

Last year, revenues in the sports and bicycle retail sector with bicycles fell by 11.1 percent to 1.05 billion euros. Nevertheless, the billion mark was exceeded for the fourth consecutive year.

Bicycle Market: Market Share of E-Bikes Increased

Revenue drivers were primarily e-bikes, which accounted for 77 percent of total sales. In terms of quantity, bicycles with electric drives continue to advance - the number of units sold to retailers increased from 220,493 to 226,076 in 2024. The market share of e-bikes in the overall market (including children's bikes) rose to 57.17 percent (2023: 52.35 percent). Compared to Germany and Switzerland, Austria performs better. The e-bike market share in Germany was 53 percent in the past year 2024, and in Switzerland, it was 45 percent.

The background to the increases includes state subsidies for e-bikes and the rising share of company bicycles, writes the VSSÖ. According to a survey by the association, the proportion of people in Austria with an ongoing company bicycle contract has increased sixfold since 2022.

Within the e-bike group, e-mountain bikes (up 210 percent to 8,569 units) and e-gravel bikes (up 53.9 percent to 5,677 units) boomed. The number of e-cargo bikes sold to retailers increased by 48.7 percent to 7,527 units, and e-folding bikes recorded an increase of 33.8 percent to 3,450 units.

Folding bikes and e-folding bikes were subsidized for the first time in 2023, and the subsidy ended again in 2024. VSSÖ and ARGE Fahrrad advocate for the resumption of subsidies. "Reviving the successful subsidy models for (e-)folding bikes and (e-)cargo bikes, which expired last year, is the order of the day. They are a game changer for sustainable mobility," said Michael Nendwich, spokesperson for the sporting goods trade in the Chamber of Commerce and VSSÖ managing director.

More about cycling in Vienna

(APA/Red)

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