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1 Market Overview
1.1 Definition and presentation
A bicycle is a human-powered land vehicle consisting of two in-line wheels. The driving force is provided by the rider, usually in a seated position, by means of two pedals that guide the rear wheel via a roller chain. There are different types of bicycles, the best known being Dutch bicycles, mountain bikes, folding bicycles, cargo bikes, and road bikes.
Bicycle market players include manufacturers, assembly plants, specialty retailers, multisport stores, mass merchandisers, and online retailers.
The global bicycle market is expected to grow at a steady rate of about 8 percent per year between 2022 and 2030. This demand is driven by Asia, which generates 20% of global sales, and especially China, which is expected to have a CAGR of 4.7% over the same period. In Europe, 20 million bicycles were sold in 2019, of which 12,666 were produced on the old continent. This represents 90,000 jobs.
As Europe's second-largest bicycle-producing country, the Italian market is very dynamic, with a 17 percent growth between 2019 and 2020 and an increase in production of 145,000 units, driven particularly by E-bikes. Although their volume accounts for less than 14 percent of total bicycle production, the E-bike segment is expected to grow in the coming years.
The Covid 19 pandemic has had a major impact on the Italian bicycle industry. The desire to avoid urban transportation, as well as the lack of exercise due to the closure of gyms, has pushed Italians to use bicycles. The government mobility subsidy, which provides a 60 percent discount on the purchase of a bicycle, is also a major factor that has driven the market.
1.2 The Global Market
The global bicycle market was valued at $**.** billion in **** and is expected to expand at a compound annual growth rate (***) of *.*% from **** to ****. The market has been growing for a long time, in fact it was valued at $**.** billion in **** and grew at a CAGR of *.**% between **** and ****.
Evolution of the ...
1.3 The Italian market
The Italian bicycle market, according to Confindustria ANCMA (***) estimates made as of March ****, has seen record numbers in ****:
Sales by type of bicycles Italy, **** - **** Source: ****
As can be seen from the graph, both traditional bikes (***) with *,***,*** pieces purchased and ebikes are on the rise, with numbers growing significantly, with ***,*** pieces, ...
1.4 Covid Impact and Mobility Bonus
The pandemic has had huge effects on citizens' mobility preferences, and the post-lockdown in Italy has also been characterized by an increase in bicycle travel, thanks to new bicycle paths built by municipalities and the bike bonus incentive.
In September ****, bicycle travel in Italy increased by **.* percent compared to the same ...
1.5 Foreign Trade
The UN Comtrade website shows customs data, based on HS nomenclature. Bicycle trade is recorded under the following code: - ******: Bicycles and other cycles, including delivery tricycles, without motor
The chart below shows Italy's trade balance for bicycles. As can be seen, and as seen above, Italy is one of the ...
2 Demand analysis
2.1 The sale of bicycles in Italy
Bicycle use in Italy is not spread evenly throughout the country. Wanting to generalize the trend in demand, we can see that the market has been growing in recent years, thanks in part to the impact of the pandemic. in Italy in ****, *.* mln bicycles were sold (***), and almost * million Italians use ...
2.2 Geographic Distribution of Bicycle Paths in Italy
The demand for bicycles in Italy is strongly influenced by the number of bicycle lanes. There is great inequality in the number of bicycle lanes in Italy, with southern regions having far fewer kilometers of lanes when compared with those in northern Italy.
In ****,there were an average of **.* kilometers of ...
2.3 Cycle tourism as a demand driver
cycling tourism, or cyclotourism, is a recreational activity that consists of a way of visiting an area or region by bicycle in order to discover its main tourist attractions. It is not considered a competitive practice since it is known to be carried out for pleasure and not for competition. The ...
2.4 The numbers of urban travel by bicycle
Looking at the percentage of total city travel by bicycle, the most ethical cities in this regard in Italy are Bolzano, Pesaro, Ferrara and Treviso, with more than a quarter of the population using bicycles as a means of travel. There are ***,*** regular cyclists in Italy, with high percentages in the ...
3 Market structure
3.1 Market Structure and Dynamics
the bicycle market is very fragmented; As for bicycle production, ATECO code"**.** Manufacture of bicycles and vehicles for invalids,"the Italian market consists of about *** domestic companies, mainly small and medium-sized enterprises, which are internationally recognized as excellent. However, there are still many foreign brands, making the Italian market highly segmented. ...
3.2 The Bicycle Supply Chain
The bicycle ecosystem consists of about **** enterprises in total, this also includes industrial machinery manufacturers and distributors. Specifically we can see that there are :
*** Industrial Machine Manufacturers who are involved, usually not exclusively, in the manufacture of industrial machinery (***) for bicycle production. *** Bicycle and component manufacturers: of which, as mentioned ...
3.3 Distribution Channels
A total of **** companies are active in bicycle distribution between wholesalers and retailers/renters. The latter group is much more numerous than the former with revenues, due to sales volume reasons, much lower than wholesale distributors. In the following table it is possible to have a comparison between these two distribution ...
3.4 Bike Sharing Services
The term bike share refers to a temporary mobility service, i.e., a rental: the bicycle, normally through an app, is first reserved, unlocked, and is then ready for use. When one's ride is finished, it can be parked at a designated bike station or it can be parked freely, as ...
3.5 Supply trends
There are several megatrends that we can find in the market, among which, according to Banca Ifis, the biggest will be : Supply chain transformation - The covid crisis and subsequent closures have resulted in waiting times of even ~*** days for component supplies in Europe in ****. While anticipating an increase in imports ...
4 Supply analysis
4.1 Types of Bicycle
As practices have evolved and bicycles have been promoted as a way of life, the latter has seen its forms multiply to meet the desires of users. Today, there is a multitude of different bicycles, for which a multitude of specific equipment is also available, making each bike unique. Performance, comfort, ...
4.2 A continuous innovation of products in the market
In such a fragmented industry, several players are trying to differentiate themselves through innovative offerings. Two British startups, Rubee and Revos have thus developed their own small, removable kits that allow users to convert their "classic" bicycles to electric bikes. it is also possible to remove the kit and easily recharge ...
5 Regulations
5.1 Regulation
Bicycle standards are different by type of bicycle. We can distinguish different standards according to the classification of UNI EN, which is the Italian national unification body, a private nonprofit association that carries out technical standardization activities.
UNI EN ***** "City and trekking bicycles - Safety requirements and test methods." UNI EN ...
6 Positioning of actors
6.1 Segmentation
- ITALWIN
- F.I.V. FABBRICA ITALIANA VELOCIPEDI EDOARDO BIANCHI SOCIETA' PER AZIONI
- AMG SRL
- SPORTLER
- RELEVEN SRL
- Decathlon Italie
- Accell Group
- PON HOLDINGS
- ATALA
List of charts presented in this market study
- Evolution of the bicycle market
- Main Bicycle Exporting Countries
- Sales by bicycle type
- Exports and Imports of Bicycles
- Main Countries of Bicycle Export Destination
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