'Survive to 25', urges industry report, following 2023 'reset'

Last year's annus horribilis for the cycle industry represented a 'reset' and the situation would hopefully begin to improve next year, the latest report from CONEBI (Confederation of the European Bicycle Industry) has said.

CONEBI's Bicycle Industry and Market Profile (BIMP) report also points out that the industry as a whole has actually grown in the last decade, and despite a difficult 2023 it says that the overstock issues that have plagued everyone from manufacturers to independent bike shops "might be resolved in 2025", finally paving the way for an increase in production.

It's a reiteration of the catchy but rather dark sentiment 'survive till 25', that has been echoing throughout the industry since earlier this year.

In a summary report on its website, CONEBI says that "European Bicycle Industry shows resilience and growth potential despite 2023 economic challenges."

A significant aspect of the growth of the industry in the past 10 years and more is down to infrastructure and ebikes, CONEBI adds. Sales of ebikes in particular are more than 50% up on pre-pandemic numbers, and continued to perform well even last year, with 5.1 million units sold compared to 5.5 million the year before.

Conversely, sales of traditional machines are falling, with a 20% drop-off between 2022 and 2023 from 14.7 million to 11.7 million units.

Unsurprisingly, production also fell in 2023, but investments in production capacity was still strong – totalling €1.9 billion versus €2.1 billion in 2022 – CONEBI says, with new warehouses and factories being built across the EU. Employment figures, however, had seen a 5.5% dip compared to 2022, though that figure varied considerably from country to country.

A torrid time for the industry in the past 18 months in the UK has seen numerous high-profile casualties, including distributor Moore Large closing down at the start of last year. The company, whose roots could be traced back to the 1940s, blamed a weak pound, inflation, and the familiar issue of too much stock for its demise.

The closure of Moore Large was followed by 2Pure, ProBikeKit and Fli Distribution, among others.

In October it was announced that retail behemoth Wiggle was entering administration, and it was eventually bought by Mike Ashley's Frasers Group in February.