Cycling Industries Europe (CIE) recently presented its annual Business Impact Survey to its Market Impact and Intelligence Expert Group.
The annual survey takes a holistic look at the state of the cycling ecosystem, with respondents representing various segments of the industry. The survey was filled by bikeshare services, bike and parts manufacturers, retailers, cycling ITS providers, and for the first-time bike leasing service providers too.
This year’s survey builds on data collected annually since 2020 with the support of Sporting Insights. The number of respondents hit a new high this year, with a steady increase compared to 2024.
Survey responses are more balanced than in previous years and give several reasons to be cautiously optimistic about the future of the cycling economy. These may be signs that the industry is maturing after the ‘boom and bust’ cycle of the past few years.
Moving on from 2023 with increased revenues
While it would be a little too early for the cycling industry to breathe a sigh of relief after a difficult 2023, the 2024 revenue data paints the picture of a stabilized sector that is steadily overcoming previous challenges.
72 percent of respondents said that they expect a similar of higher level of revenue compared to last year. This positive outlook is also well-reflected in employment, as 79 percent of respondents indicated that they would maintain or increase their current staff levels.
Big steps towards supply chain stability
Overstocking on complete bikes is still an issue, but the number of respondents whose business is negatively affected by this phenomenon has dipped below 50 percent, after peaking above 60 percent last year.
Another very important indicator is that 57 percent of respondents said that they haven’t taken or aren’t planning any changes in their supply chain, with 30 percent indicating that they do not have any supply chain issues. 60 percent of respondents who have faced supply chain-related difficulties believe that supply chains will be normalised in the next 12-18 months.
Global and European politics enter the frame
Broader geopolitical changes are starting to be reflected in the future outlook of companies, influencing confidence in the overall future in categories such as sustainability and consumer demand. This edition of the Business Impact survey highlights a much better awareness in the sector on the role of politics and subsidies in advancing the cycling ecosystem. 24 percent of the respondents indicated that they are very confident on seeing EU-level policy support for cycling compared to 13 percent in 2023.
Access to the full report
Cycling Industries Europe (CIE) recently presented its annual Business Impact Survey to its Market Impact and Intelligence Expert Group. Full access to the CIE Business Impact Survey is a membership benefit. If you are interested in joining CIE, please reach out to us at info(at)cyclingindustries.com.
We would like to thank Sporting Insights for carrying out these surveys and contributing to the success of the cycling business sector in Europe.
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