In the last year, the bicycle sector grew again, reaching record figures for the sale of bicycles, components and accessories. Turnover also grew, employment and business creation picked up.
The report on the bicycle sector, published annually by AMBE, the Association of Brands and Bicycles of Spain, in collaboration with Cofidis, was presented at the EY headquarters in Madrid, where the main leaders of the sector met.
The event, inaugurated by María José Rallo, General Secretary of Transport and Mobility of the Ministry of Transport, Mobility and Urban Agenda (MITMA), continued with a round table in which representatives of the DGT, MITMA Bicycle Office, EY and AMBE.
Billing and employment record
According to the AMBE and Cofidis study, in 2021, the bicycle industry in Spain invoiced 10.76% more, reaching a record turnover figure of €2,887.89 million. The sector chains the second year with billing growth above two digits.
It also highlights the consolidation of the national industry with a growth in the number of manufacturers of 7.14% and an increase in employment close to 3%. The points of sale, repair and rental increased to reach the figure of 3,028 establishments. Almost 25,000 families in Spain live directly from the sector.
In addition, according to data published by the Ministry of Industry, Commerce and Tourism, the production of bicycles in Spain increased by 75.1% in 2021 and exports were close to a 50% increase.
“Supply problems have limited the growth of the sector, but they have also generated an effect of attracting production to the final consumer. The bicycle industry contributes decisively to reindustrialization, job creation and new businesses in Spain” Jesús Freire, Secretary General of AMBE.
Record sales of bicycles, components and accessories
For the second consecutive year, more than 1.5 million bicycles (1,571,368) were sold in Spain, a slight increase compared to the previous year.
In 2021, the largest increases in unit sales were recorded in the category of gravel (+51.2%) and electric (+5.3%). At the other extreme, the drop in sales of urban bicycles stands out (-12%) due to the promotion of electric bicycles and the use of non-urban models in our cities.
The sales of mountain bikes continue to stand out (the most demanded bicycle category in Spain) but surpassed for the second consecutive year in terms of business volume by the electric bicycle.
Regarding financing, the mountain bike segment also continues to occupy the first place for Cofidis in terms of financing, standing at 72% of operations, although it has fallen compared to previous years. According to Cofidis financing operations figures, electric bicycles already occupy second place in terms of financing, with 15% of the total and an increase of 50% vs. 2020. Road bicycles (8%), urban bicycles ( 4%) and those of children (1%) maintain their financing figures with respect to the previous year.
In the words of Manuel Santos, Commercial Director of Cofidis: “We have been promoting cycling from Cofidis for many years with our own team, Team Cofidis, and with our support for Spanish Paralympic cycling through Cofidis Pedaling With You. And we also offer our support to points of sale specialized in cycling, offering them financing tools for all bicycle segments, with the aim of promoting their acquisition to the maximum, increasing their sales and profitability and the figures year after year confirm our commitment to the sector.
In terms of components and accessories, the increase in sales was also reflected in the turnover of helmets (+30.8%), footwear (+23.3%), textiles (+13.8%) and components (+ 10.27%).
“The bicycle sector continues to post record growth figures. The trend to move in a healthier and more sustainable way is consolidating, and this generates a very positive impact for Spanish society in economic, environmental and health terms” Javier López, President of AMBE.
The electric bicycle: the best-selling electric vehicle in Spain
The sale of electric bicycles is consolidated in 2021 by exceeding, for yet another year, the barrier of 200,000 units sold (223,561). The number of electric bicycles in Spain is close to 900,000 units, making it the preferred electric vehicle for Spaniards.
The increase in the average price of a bicycle in Spain moderates and grows by 14.9% in 2021, reaching €984 (compared to €865 in 2020). This growth is driven by the increase in the average price of mountain bikes, which reached €832 (+12.7%) and especially by electric bicycles, which reached an average price of €2,861 (+8.1%) up to position itself as the leading category in terms of billing volume.
“Although it lacks the state aid of other electric vehicles, the electric bicycle is positioned as the best-selling electric vehicle in Spain, contributing to a healthier life and the reduction of CO2 emissions. In addition, 7 out of 10 electric bicycles are manufactured in the EU, generating enormous opportunities for our industry” Jesús Freire Secretary General of AMBE.