Growth of Europe’s e-bike market stalling

Source: Bike Europe

According to the combined market reports of European industry organisations, market growth for e-bikes has come to a stop in most countries, following a slowdown in sales growth that first became evident in 2023.

The figures are in contrast to past predictions that the e-bike market share could reach 80%; Europe-wide, the market share remains at just under 40%, with some significant fluctuations in certain countries.

It should be noted that the entire European bicycle market is seeing a downturn in sales; the market for non-electric bikes has seen a decline across all indicators, with a total drop in volume by 25% from 2022 to 2025. The industry is struggling to find an equilibrium after the pandemic-related boom and the following inventory crisis. Production capacity was expanded in response to market peaks during the first year of the pandemic – peaks which led to unrealistic extrapolations for ongoing market demand.

Geographical highs and lows

In terms of overall e-bike market share, the highest shares are in Austria, Germany, the Netherlands and Switzerland, all with shares over 40%. At the other end of the scale, the market share in France, Spain and Italy is below 30%, while the UK trails significantly with an e-bike market share of 9%.

There is a slight contrast to this picture when looking at the year-on-year percentage difference in e-bike sales volume. Two of the countries with lowest market share – the UK and Spain – see some growth in this metric, at 2% and 21% respectively, alongside Belgium at 7.5%. All other countries shown in this metric see a drop however, with France and Switzerland the most marked at 14.5% and 14% respectively.

Reasons for stagnation

The causes for stalling growth are not yet clear, but it is suggested that market saturation could be a factor. Incentives such as subsidies and leasing programmes have provided a boost previously, but cannot be relied on for success, and returned lease models are creating a buoyant market for high-quality second-hand e-bikes.

Options for creating growth include the introduction of innovations and connectivity features, but these are more likely to appeal to current e-bike users rather than first-time buyers.

Will fuel price fluctuations have an impact?

Half-year results from leading bicycle brands are keenly awaited, in light of worldwide rising fuel costs and a potential uptick in bicycle and e-bike use. Traditionally, sharp increases in fuel prices have seen correlating bike sales in markets where there is a well-developed urban cycling mobility segment. In many European cities, cycling infrastructure has seen significant investment over the last decade, which creates conditions to support sales of e-city bikes as well as regular bikes.