UK Cycling Market Report 2024
A total of 2.2 million bicycles are sold in the UK every year, at an average price of £502.
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Executive Summary
- Opportunities for the cycling market
- Promote off-road fun through experience centres
- Use e-bikes to close the gender gap in cycling
- Promote sustainability benefits of e-bikes to women
- Encourage women into cycling with a choice of bicycle types
- Broaden access to cycling mobility…
- …and make cycle ownership more affordable
- Market dynamics and outlook
- Market size and forecast
- Market predictions
- Market size and forecast – value
- Market size and forecast – volume
- Cost-of-living pressures continue to hurt the cycling market
- What consumers want and why
- Almost a third of UK consumers cycle
- Graph 1: cycling participation, 2024
- Younger people cycle most
- Graph 2: cycling participation by age and gender, 2024
- Mountain bikes are the most owned, but e-bike ownership is rapidly increasing
- Graph 3: cycle ownership, 2024
- Amazon reinforcing its leading position
- Graph 4: retailers used to purchase a bicycle, 2024
- Most people see the benefits of cycling, but consumers want to see more infrastructure and improved access to cycles
- Graph 5: attitudes towards cycling, 2024
- Innovation and marketing
- Innovation focused on alternatives to ownership, e-bike conversion and sustainability
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Market Dynamics
- Market size
- Inflation is driving growth in a subdued, post-COVID bicycles market
- The bicycles market is still under pressure…
- Graph 6: volume of new bicycle/e-bike sales, 2019-24
- …and is expected to remain so into 2025
- Graph 7: value of new bicycle/e-bike sales, 2019-24
- Higher prices have boosted market value, driven by e-bike growth
- Graph 8: average retail price of a bicycle/e-bike (at retail selling prices including VAT), 2019-24
- Segment performance
- Pedal cycles: a mixed performance
- E-bikes: sales decline as adverse media coverage and maxed-out credit combine to create a ‘perfect storm’
- Market forecast
- Market size and forecast – value
- Premium segment and e-bike share growth is set to drive market value
- Market size and forecast – volume
- Volume growth is set to recovery
- Market drivers
- Cost-of-living pressures continue to hurt the cycling market
- Graph 9: trends in responses to the statement “Do you think the UK cost of living crisis is…”, 2024
- Gen Zs, most likely to be current riders, have the healthiest finances
- Graph 10: consumers’ current financial situation, by generation, 2024
- Higher earners first to say things are getting better
- Graph 11: consumers’ financial situation compared to a year or so ago, by household income, 2024
- Consumers are no more optimistic about their finances in the coming year than they were a year ago
- Graph 12: how consumers feel about their financial situation over the next year or so, 2023-24
- Use the sport of cycling as a facilitator and source of inspiration
- Transport cost increases can act as a catalyst for cycling uptake…
- Graph 13: indexed average change in railway fares*, 2019-24
- …but commuting declines as a driver for cycling
- Graph 14: trends in average number of commuting trips per person per year, 2019-23
- Government has struggled to deliver on cycling and walking strategies, but this may change
- Cycling participation has fallen back since pandemic highs
- Graph 15: participation* in cycling by purpose, 2019-22
- Opportunity to establish the cycling habit at an early age
- Graph 16: percentage of children cycling to primary and secondary schools, 2019-23
- Industry moves to tackle negative e-bike safety perceptions
- Providing accurate information to boost confidence
- BA moves to introduce register of safety-audited e-bike brands
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What Consumers Want and Why
- Cycling participation
- Three in 10 UK adults are potential riders
- Graph 17: cycling participation, 2017-24
- Six in 10 people are the market opportunity
- Graph 18: cycling participation, 2024
- Cycling is a predominantly male activity
- Young men cycle most, but potential lies with women aged 25-44
- Graph 19: current and potential riders by age and gender, 2024
- Types of bicycle owned
- MTBs remain the most commonly owned type of bicycle
- Graph 20: type of bicycle owned by current riders, 2020-24
- E-bike owners are the most frequent riders
- Graph 21: frequency of cycling by type of bicycle owned, 2024
- MTBs and road bikes most likely to be owned by men, but women have highest levels of e-bike ownership
- Graph 22: type of bicycle owned by current riders, by gender, 2020-24
- Retailers where bicycles and parts, clothing and accessories are bought
- Halfords and Argos are most popular places to buy bicycles
- Graph 23: retailers used to buy bicycles and/or bicycle parts, clothing or accessories in the last 12 months, 2024
- Amazon has significantly increased its share of bike purchasing
- Graph 24: retailers used to buy bicycles in the last 12 months, 2023-24
- Bicycle purchasing intentions
- Consumer intention to buy a bicycle in next 12 months is higher than one year ago
- Signs of more optimism when it comes to purchasing intentions
- Graph 25: future purchasing intentions for bicycles for self, 2023 and 2024
- Entice potential riders in-store to unlock potential
- Graph 26: future purchasing intentions for bicycles for self, by type of rider, 2024
- Build relationships with existing customers for long-term loyalty
- Graph 27: future purchasing intentions for bicycles for self, by frequency of riding, 2024
- More optimism for sales of children’s bikes
- Graph 28: future purchasing intentions for bicycles for children, 2023 and 2024
- Type of bicycle most likely to purchase
- E-bikes move to the top of the bicycle wishlist
- Graph 29: type of bicycle intending to purchase for self in next 12 months, 2023 and 2024
- Interest in e-bikes is going up each year
- Target e-bikes messaging to frequent riders
- Graph 30: type of bicycle intending to purchase for self, by frequency of riding, 2024
- Women are most drawn to e-bikes
- Graph 31: intention to buy an e-bike, by gender and age, generation and annual household income, 2024
- Attitudes towards cycling
- Consumers see many benefits to cycling
- Graph 32: attitudes towards different use cases for cycling, 2024
- Regular cyclers believe in its mental health benefits
- Opportunity to promote the mental wellbeing benefits of cycling
- Graph 33: agreement that cycling is good for mental health, by frequency of cycling, 2024
- Fitness, sustainability and mental health are all platforms that can be used to promote the benefits of cycling to women
- Graph 34: agreement among women with different use cases for cycling, 2024
- Bicycle hire schemes and integrated transport tickets offer alternative ways to ride
- Graph 35: attitudes towards different ways of increasing access to cycling, 2024
- Bicycle hire schemes and integrated tickets a low-risk way for potential riders to try cycling
- Graph 36: agreement with different ways of increasing access to cycling, by current and potential riders, 2024
- Instalments and ‘try before you buy’ offer potential to increase access
- Graph 37: attitudes towards different ways retailers could increase access to cycling, 2024
- Interest-free credit is most likely to drive purchase
- Removing friction points can help convert potential riders
- Infrastructure holds key to future growth in cycling
- Graph 38: attitudes towards other aspects of cycling, 2024
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Innovation And Marketing Trends
- Launch activity and innovation
- All-inclusive bike subscription service Swapfiets expands to London
- Budget-conscious e-bike conversion kit
- Brompton partners with iconic skateboard brand for a limited edition bike
- Plant-based bicycle
- Helmet crafted from a mix of discarded shells and recycled plastic
- Eco-friendly cycling helmets
- Inclusive cycling gear
- Advertising and marketing activity
- Bicycles and accessories advertising spend reached £7.1 million in 2023
- Graph 39: total above-the-line, online display and direct mail advertising expenditure on bicycles & accessories, 2020-24
- Halfords is the top advertising spender so far in 2024
- Bicycles and accessories advertisers allocate most of their advertising budgets to digital
- Graph 40: share of above-the-line, online display and direct mail advertising expenditure on bicycles & accessories, by media type, 2020-24
- Smyths Toys big bikes, small bikes, all bikes digital campaign
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Appendix
- Supplementary data
- Market size: volume and value of new UK bicycle sales
- Market forecast data and methodology
- Market forecast and prediction intervals the total value of UK new bicycle sales
- Market forecast and prediction intervals for the total volume of UK new bicycle sales
- Forecast methodology
- Report scope and definitions
- Market definition
- Abbreviations and terms
- Consumer research methodology
- Nielsen Ad Intel coverage
With easing financial pressures, modest volume growth is expected in 2025, picking up pace in 2026. The rate of recovery depends on the UK cycling market’s ability to counter negativity around e-bikes and the pace of change arising from increased government investment in walking, wheeling and cycling.
UK Cycling Market Landscape
A total of 2.2 million bicycles are sold in the UK every year, at an average price of £502. It’s a male dominated market, but e-bikes are still the main driver of growth, and over one-fifth of women who are planning to buy a bike in the next 12 months are considering an e-bike.
One factor holding back growth is the amount of negative media coverage around e-bikes, which have been a key driver of growth in the market in recent years. Countering misinformation with education and effective communication will be important for the industry to broaden the appeal of cycling to a wider base of consumers.
Many consumers are still struggling financially, which is holding back growth. E-bikes tend to be more expensive than regular cycles, putting them out of reach for many. The industry can look for ways to broaden access to bicycle or e-bike use with innovative ideas such as community rental schemes, short-term hire or integrated public transport tickets. Routes to ownership could also be improved using rent-to-buy and expanding the availability of 0% interest credit or buy-now, pay-later schemes.
UK Cycling Market Statistics
- UK Cycling Market Consumer Preference: 30% of biker owners own a mountain bike.
- UK Cycling Market Share: 17% of consumers purchased their bikes from Halfords or Argos.
UK Cycling Market Report – What’s Inside?
Key Topics Analysed in the Report
- The UK cycling market’s current valuation and growth forecast.
- Factors impacting consumer spending in the UK cycling market.
- Consumer preferences, particularly the rise of e-bikes.
- Opportunities for increasing cycling participation.
- Emerging trends in innovation and marketing within the UK cycling market.
- Types of bicycles owned and purchase intentions over the next year and beyond.
- Key sales channels and retailers used to purchase bicycles and bicycle parts in the UK.
Report Scope
This Report examines the UK cycling market. This includes the full range of traditional mechanical bicycles and electric bicycles or e-bikes. Under UK law, e-bikes are referred to as ‘electrically assisted pedal cycles’ (EAPCs), with a motor that has a maximum power output of 250 watts and where electrical assistance is immediately cut off when the speed reaches 15.5 mph (25 kmph).
Meet the Expert Behind the Analysis
Natalie is a senior analyst with over 25 years’ experience researching and writing reports for Mintel’s European retail market coverage.
There is good growth potential as consumer finances improve if the industry can counter adverse e-bike media coverage and be more innovative with routes to ownership.
Natalie Macmillan
European Analyst – Retail
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