Bicycles market in Italy

Earlier Report Observations

The Italian bicycle market opened the period with a volume of 1 044 thousand units in 2018, supported by the e-bike boom, public incentives for cycling mobility, and extended anti-dumping duties. However, demand stabilized after the initial surge, leading to a decline to 848 thousand units in 2019 as traditional bicycles began losing market share. Supply chain difficulties emerged in 2020 due to COVID-19 restrictions, further reducing the market to 810 thousand units.

Persistent supply chain issues in 2021 exacerbated the contraction, with the market plummeting to 440 thousand units. A rebound occurred in 2022, lifting volume to 747 thousand units, driven primarily by increased e-bike production for domestic consumption. This recovery was short-lived as the market fell again to 435 thousand units in 2023, affected by the after-effects of expired state bonuses, ongoing global supply constraints, and macroeconomic pressures including U.S. tariffs and the Ukraine conflict.

By 2024, the market had declined to 254 thousand units. This was largely due to Italian manufacturers focusing more on export markets, with a positive trade balance outweighing shrinking domestic demand.

Production bicycles in Italy

In value, 2017-2020, M $ US

Bicycle production in Italy increased for the second consecutive year. In 2020, output was valued at 447.5 million US dollars, marking a gradual rise of 7.2% compared to 2019. Over the period from 2017 to 2020, production grew by 13.9%, with a compound annual growth rate of 4.4%. The lowest value was recorded in 2018 at 280.5 million US dollars, which saw the largest decline of 28.6%. In contrast, the largest increase occurred in 2019, with a jump of 48.8%.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, K unit

After a two-year decline, bicycle production in Italy increased. In 2020, 2 138 thousand units were produced, representing a 2.3% year-over-year gain. From 2017 to 2020, production decreased by 39.8%, with a compound annual growth rate of -15.6%. The lowest value was recorded in 2019 at 2 089 thousand units, while the largest decline took place in 2018, dropping by 37.1%.

Annual dynamics of production in Italy in kind, 2017-2020, K unit

Exports bicycles from Italy

Exports in kind, K unit

Italy's volume of bicycle exports increased for the second consecutive year. In 2020, exports reached 1 794 thousand units, equivalent to a 0.6% gain over the previous year. The lowest value was recorded in 2018 at 1 556 thousand units, which saw the largest decline of 11.6%. The largest increase occurred in 2019, with a rise of 14.6%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, K unit

From 2017 to 2020, France, Spain, and Germany remained the main buyers of bicycles from Italy, accounting for 47.9%, 13.5%, and 9.8% of exports in kind, respectively. Together, they formed 71.2% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

Bicycle shipments from Italy to abroad increased for the third consecutive year. In 2020, exports totalled 274.9 million US dollars, indicating a measured rise of 4.5% compared to the previous year. Between 2017 and 2020, exports grew by 20.2%, equating to an annualized rate of 6.3%.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

Over the period from 2017 to 2020, France, Germany, and Spain consistently held leading positions in the country structure of exports in value terms, with shares of 36.6%, 11.9%, and 10.8%, respectively. Collectively, they accounted for 59.2% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports bicycles to Italy

Imports in kind, K unit

In 2020, cross-border shipments of bicycles to Italy amounted to 466 thousand units, which is 13.9% less than in 2019. From 2017 to 2020, imports decreased by 35.8%, with a compound annual growth rate of -13.7%. The lowest value was recorded in 2018 at 364 thousand units, which saw the largest decline of 49.8%. The largest increase occurred in 2019, with a jump of 48.6%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, K unit

From 2017 to 2020, Portugal, Germany, and Romania formed the largest group of suppliers of bicycles to Italy, contributing 15.6%, 10.3%, and 9.9% of imports in kind, respectively. However, their combined share was limited to 35.9% of total imports in kind, reflecting a diversified country structure.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

In 2020, bicycle shipments to Italy from abroad totalled 169.5 million US dollars, indicating a robust loss of 13.7% compared with 2019. The lowest value was recorded in 2018 at 138.2 million US dollars, which saw the largest decline of 19.6%. The highest value occurred in 2019 at 196.3 million US dollars, with the largest increase of 42.0%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

From 2017 to 2020, the Netherlands, Germany, and Asia, not elsewhere specified, were the principal sources for imports in value terms, accounting for 23.2%, 14.1%, and 13.6%, respectively. Together, they made up 50.8% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020