14.7 Million! EU Bicycle Production Grows by 10% in 2022

According to data from Europa, in 2022, the European Union (EU) produced a total of 14.7 million bicycles.

In recent years, bicycle production in the EU has maintained a growth rate of over 10%. Compared to the previous year, bicycle production increased by 10% in 2022. In 2021, the EU produced a total of 13.5 million bicycles, marking an 11% increase from 2020. If we extend the timeline from 2012 to 2022, bicycle production in the EU increased by 29% over the course of a decade, with rapid growth over the past three years.

The EU has a strong cycling culture, and policies and facilities in various countries are very bike-friendly. However, there is significant variation in bicycle production among different countries within the EU. In 2022, the largest producer was Portugal (2.7 million bicycles), followed by Romania (2.6 million), Italy (2.5 million), Germany (1.7 million), and Poland (1 million). This ranking was similar to 2021 when Portugal (2.9 million), Romania (2.5 million), Italy (1.9 million), Germany (1.4 million), and Poland (1.2 million) topped the list. Portugal has emerged as a major player in European bicycle production.

European Bicycle Imports Grow by Over 30%

In 2022, the EU imported 6.4 million bicycles valued at 2.5 billion euros. In 2021, the EU imported 5.74 million bicycles valued at 1.896 billion euros. Compared to 2021, EU imports in 2022 increased by 32%.

Of these, 1.2 million were electric bicycles, showing a 16% increase, while 5.2 million were non-electric bicycles, marking a 9% decrease. Overall, the bicycle trade increased, with electric bicycles outpacing non-electric bicycles in growth, resulting in a rapid increase in trade volume. The 32% surge in import value is also due to significant price increases in bicycles. The total import value of electric bicycles skyrocketed to 1.137 billion euros, with an average unit price increasing from 823 euros in 2021 to 959 euros.

According to data from last year, European bicycle imports hit a historic low of 54,522 units in December 2022. However, as the market improved in 2023, the total import value of bicycles remained significantly higher than in the same period the previous year. The average import price for electric bicycles also increased substantially, and traditional bicycle prices saw notable growth as well. In January and February 2023, the average unit values for these two months reached 568.16 US dollars and 681.39 US dollars, respectively. February’s average unit price was 43.47 US dollars higher than the historic record set in December 2022. Bicycle average unit prices have soared to record levels.

Cambodia and Taiwan: Major Sources of Bicycle Imports

In 2022, most of the non-electric bicycles imported into the EU came from Cambodia (30% of total external bicycle imports), followed by Taiwan (23%), China (11%), Bangladesh (10%), and Turkey (6%). For electric bicycles, the majority came from Taiwan (56% of total external electric bicycle imports), followed by Vietnam (14%), Switzerland (13%), China (8%), and Turkey (5%).

European Bicycle Exports Grow by 22%

In 2022, the EU exported bicycles worth 1.1 billion euros, marking a 22% increase compared to 2021. Of these exports, 365,000 were electric bicycles, showing a 16% increase, while 1 million were non-electric bicycles, representing a 31% decrease compared to 2021. Bicycle imports in 2022 were more than double the value of exports, totaling 2.5 billion euros and increasing by 32%. The overall growth in bicycle trade value can be attributed to the increase in electric bicycle trade, driven by the higher prices of electric bicycles.

Switzerland and the United Kingdom are the Major Export Destinations

In 2022, Switzerland was the primary destination for EU exports of non-electric bicycles, accounting for 25% of total external exports, followed by the United Kingdom (23%) and the United States (7%). For electric bicycle exports, Switzerland and the United Kingdom were also the primary destinations, accounting for 38% and 27%, respectively, of the total external electric bicycle exports. Following them were the United States (13%) and Norway (9%).

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