Source: SAZ Bike

Although figures from 2024 reveal that Switzerland’s bike secctor has experienced a decline in revenue, its cargo bike segment remains promising, with a 22% increase in sales.

2024 bicycle sales results in Switzerland

The Swiss bicycle market saw a surprising trend in 2024, with higher unit sales but reduced overall revenue. According to the latest Velohandel Schweiz 2025 market bulletin, published by the Swiss bicycle communications office Dynamot, approximately 453,000 bicycles and e-bikes were sold in Switzerland, an increase of around 7% compared to the previous year. However, total revenue fell by over 6% to CHF 1.81 billion, marking the lowest turnover for the sector since 2018.

Overstock and discounts undermine profitability

The primary factor behind the decline in sales revenue was the widespread liquidation of overstocked inventory, a consequence of the pandemic-era supply surplus. To clear excess stock, both retailers and manufacturers resorted to steep discounts, significantly compressing profit margins. The closure of specialist stores under the Migros Group – namely SportX and Bike World – intensified the market’s price competition, with some manufacturers slashing their own suggested retail prices by up to 50%.

Workshop services and accessories offer stability

Despite challenges in retail sales, several areas provided a measure of stability for the Swiss bike trade. Sales of accessories and spare parts rebounded following a sluggish performance in the previous year. Notably, the workshop and service sector saw record revenues in 2024, underlining the growing importance of after-sales services in the overall business model of specialist retailers.

Cargo bikes: a promising standout in the Swiss market

While traditional mountain bikes saw declining interest, certain niche categories delivered promising growth. Sales of gravel bikes rose by 15%, while cargo bikes surged by 22%. The popularity of cargo bikes was driven by the introduction of more compact, urban-friendly models. These segments not only showed strong sales momentum but also experienced healthier inventory levels and more stable pricing conditions.

Regional comparison with Germany

Switzerland’s market dynamics closely mirrored those in neighbouring Germany. The German Bicycle Industry Association (ZIV) reported a 2.5% drop in unit sales and a 10% decline in turnover, bringing total 2024 sales to €6.33 billion. Like in Switzerland, German retailers contended with warehouse overhangs and aggressive discounting, leading to an average e-bike price drop of more than 10%.

Despite the downward pressure on margins, the German workshop sector remained a vital source of revenue, and product trends followed a similar trajectory: classic mountain bikes lost traction, while gravel and cargo bikes gained popularity, aided by leasing models and municipal subsidy programs.

Outlook for 2025

Looking ahead, both the Swiss and German markets anticipate further adjustments in 2025, with expectations for more stable pricing in high-demand segments. In Germany, initiatives such as service bike leasing, public funding, and improved cycling infrastructure may help to enable growth.

In Switzerland, the importance of workshop services is expected to increase further, and industry stakeholders are anticipated to focus toward higher-margin product groups to counterbalance the revenue shortfalls seen in recent years.