The bicycle market - Italy

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.