New report suggests UK cycle tech falls by a third, with bikes sales also struggling.
Posted on in Business News , Cycles News
A new report has indicated a total year on year fall of 8% in the UK bicycle market, with both mechanical and electric bikes affected. Sales of the latter were especially impacted and lagging well behind the rest of Europe, despite potential for growth remaining.
Other key findings in the Bicycle Association report include a fall in sales of mechanical cycles by nearly a third on the same period in 2019. Last year's mechanical cycle figures for 2022 vs 2019 showed a drop of 27%.
Cycling tech appears to have been hit the hardest, having fallen 34% in the first half of the year, compared to the same period last year. Parts, accessories, clothing has also suffered, with a 15% drop on last year.
Even the UK's ebike market which in the current drive towards net zero offer perhaps the most obvious potential for growth, has been hit. The only ebike sector which has seen growth is the e-mountain bike market, with overall sales – as well as take-up in the tech – continuing to fall behind those of Europe.
The market, though, is still predicted to be worth £1.57 billion in 2023, as opposed to £1.55 billion in 2019 – growth of 0.3% per year.