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UK Cycling Market Report

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Cycling market, and the behaviours, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Key points included

  • Indoor exercise trend can offer new revenue streams
  • E-bikes still in ‘early adopter’ stage but poised to go mainstream
  • Cycling industry can take a more proactive approach to tackling barriers

Covered in this report

This report covers all types of cycling activity, including leisure/ sport, commuting and other uses. In terms of market size and forecasts, it encompasses the UK market for bicycles, which Mintel defines as those machines with a chain and ball bearings. The main product types included are mountain bikes, road, hybrid (and other mixed-terrain bikes), classic/city bikes, children’s bicycles and small-wheel bicycles such as BMX and folding bikes. Electric bicycles, better known as e-bikes, are not included in the market size and forecast, although reference is made elsewhere to sales levels and growth, consumer ownership and interest.

Expert analysis from a specialist in the field

Written by John Worthington, a leading analyst in the Health & Wellness sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Cycling ticks all of the right boxes on physical and mental health, pollution, congestion and low-carbon sustainability, but there are few signs of growth and all stakeholders, public and commercial, will need to combine their collective energies if this potential is to be realised John Worthington
Senior Health & Wellness Analyst

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
      • Executive Summary

          • The market
            • Mixed trade picture but overall volumes down
              • Figure 1: UK bicycles market, volume forecast, 2013-23
              • Figure 2: UK bicycles market, value forecast, 2013-23
            • E-bikes are the most dynamic segment of market
              • Companies and brands
                • Halfords reports slowing revenue growth
                  • Figure 3: Estimated market share of UK cycling market value (bicycles, PAC and services), February 2019
                • Evans Cycles hits troubled patch
                  • Figure 4: Selected companies in the UK cycling market, by latest reported revenues, February 2019
                • Pressure mounts on independent bike shops
                  • The consumer
                    • Cycling participation has declined since middle of the decade
                      • Figure 5: Participation in cycling, 2013-18*
                    • Safety concerns remain chief obstacle
                      • Figure 6: Deterrents to cycling, January 2019
                    • MTBs still most popular but hybrids/classic bikes have grown slightly
                      • Figure 7: Bicycle ownership, December 2017 and January 2019
                    • One in five cyclists has bought a new bike in past 12 months
                      • Figure 8: Purchase of last bicycle, January 2019
                    • 34% of new bike purchasers prepared to spend £500+
                      • Figure 9: Willingness to spend on next bicycle purchase, January 2019
                    • Younger cyclists put the brakes on spending
                      • Figure 10: Bicycle purchase and cycle hire behaviours, January 2019
                    • What we think
                    • Issues and Insights

                      • E-bikes still in ‘early adopter’ stage but poised to go mainstream
                        • The facts
                          • The implications
                            • Cycling industry can take a more proactive approach to tackling barriers
                              • The facts
                                • The implications
                                  • Indoor exercise trend can offer new revenue streams
                                    • The facts
                                      • The implications
                                      • The Market – What You Need to Know

                                        • Bike volumes estimated down 3.8% in 2018
                                          • Mixed picture across market
                                            • Unit sales have trended downwards since mid-decade
                                              • Road bike demand has flattened
                                                • E-bike unit sales up 8% in 2018
                                                  • No overall increase in cycling but cyclists are riding further
                                                    • Gradual infrastructure improvement but government targets will require higher investment
                                                    • Market Size, Segmentation and Forecast

                                                      • Market volumes down an estimated 4% in 2018, with values up slightly
                                                          • Figure 11: Trends in bicycle sales, volume and value, 2013-23
                                                        • Road bike demand flattens and adventure bikes are latest trend
                                                          • E-bikes continue to show strong growth from a low base
                                                            • PAC worth more than bicycle sales
                                                              • Forecast
                                                                • Figure 12: UK bicycles market, volume forecast, 2013-23
                                                                • Figure 13: UK bicycles market, value forecast, 2013-23
                                                            • Market Background

                                                              • Economy slows further amid Brexit tensions
                                                                • Figure 14: UK average weekly earnings (excluding bonuses)* vs CPI inflation, percentage change year on year, January 2017-January 2019
                                                              • Possible further pricing volatility ahead
                                                                • Figure 15: Spot exchange rate, Pound Sterling versus euro and US Dollar, June 2016-February 2019
                                                              • Sport England data points to fall in cycling during 2017/18
                                                                  • Figure 16: Adult participation in leisure/sporting activity in England, May 2016/17-May 2017/18
                                                                • DfT data indicates flat participation levels…
                                                                  • Figure 17: Average number of trips, by main travel mode in England, 2006-17
                                                                • …but rising distances cycled
                                                                  • Figure 18: Average distance cycled per cyclist in England, 2006-17
                                                                • How safe is cycling?
                                                                  • Figure 19: Trends in cyclist accident casualty figures in Great Britain, 2011-17
                                                                  • Figure 20: Road accident rates by passenger transport mode, Great Britain, 2017
                                                                • UK cycling strategy and investment
                                                                • Companies and Brands – What You Need to Know

                                                                  • Halfords market share around 19%
                                                                    • Other bike shops still account for nearly half of market value despite struggling high street
                                                                      • Halfords cycling revenues have slowed over the past three years
                                                                        • Trek reports double-digit growth in 2018
                                                                          • General sports retailers occupy a growing space in cycling market
                                                                            • Independent bike shops under pressure…
                                                                              • …but some are re-inventing themselves
                                                                                • Park Pedal, smart bikes and indoor trainers are among current innovations
                                                                                • Cycling Suppliers and Retailers

                                                                                  • Overall cycling market share
                                                                                    • Figure 21: Estimated market share of UK cycling market value (bicycles, PAC and services), February 2019
                                                                                  • Halfords
                                                                                    • Giant, Specialized and Trek
                                                                                      • Other leading suppliers
                                                                                        • Other retailers
                                                                                          • Evans Cycles
                                                                                            • WiggleCRC
                                                                                              • Go Outdoors
                                                                                                  • Figure 22: Selected companies in the UK cycling market, by latest reported revenues, February 2019
                                                                                                • Independent bike shops
                                                                                                • Launch Activity and Innovation

                                                                                                  • E-bike shops
                                                                                                    • Park Pedal
                                                                                                      • Silver cyclists
                                                                                                        • Smart bikes
                                                                                                          • AR cycling glasses
                                                                                                            • Bikepacking trend spawns new products
                                                                                                              • Indoor cycling
                                                                                                              • The Consumer – What You Need to Know

                                                                                                                • Cycling participation down for third year in a row
                                                                                                                  • Safety concern is the leading barrier
                                                                                                                    • MTB ownership has dipped but still the most commonly-owned bike
                                                                                                                      • E-bike ownership still only around 6% despite market growth
                                                                                                                        • One in five cyclists has bought a bike in past 12 months; almost one in three intends to buy in next 12 months
                                                                                                                          • Interest in upgrading is strong but younger cyclists put the brakes on spending
                                                                                                                            • Smart trainers and cycling holidays have large growth potential
                                                                                                                            • Cycling Participation

                                                                                                                              • Cycling participation has fallen three years in succession
                                                                                                                                • Figure 23: Participation in cycling, 2013-18*
                                                                                                                              • ‘Regular cycling’ also down and gender gap continues to rise
                                                                                                                                • Figure 24: Regular participation in cycling (weekly or more often), 2013-18*
                                                                                                                                • Figure 25: Any participation in cycling, by gender, 2016-18*
                                                                                                                              • Core cyclists are men under 45 but many women and over-45s are in the ‘potentials’ group
                                                                                                                                  • Figure 26: Gender and age profile of current cyclists, January 2019
                                                                                                                              • Purposes of Cycling

                                                                                                                                • Commuting up by four percentage points in London
                                                                                                                                  • Figure 27: Cycling purposes, January 2019
                                                                                                                              • Barriers to Cycling

                                                                                                                                • Safety seen as the biggest barrier
                                                                                                                                  • Cost, fitness and lack of cycling companions also seen as deterrents
                                                                                                                                      • Figure 28: Deterrents to cycling, January 2019
                                                                                                                                  • Bicycle Ownership

                                                                                                                                    • Mountain bikes still dominant but ownership has fallen three percentage points
                                                                                                                                      • Figure 29: Bicycle ownership, January 2019
                                                                                                                                    • E-bikes still in ‘early adopter’ stage
                                                                                                                                      • Figure 30: Bicycle ownership by gender, January 2019
                                                                                                                                  • Bicycle Purchase

                                                                                                                                    • One in five cyclists has bought a new bike in past 12 months
                                                                                                                                      • Figure 31: Purchase of last bicycle, January 2019
                                                                                                                                      • Figure 32: Purchase of last bicycle by cycling purpose, January 2019
                                                                                                                                    • Intention to purchase an e-bike has grown in past 12 months
                                                                                                                                      • Figure 33: Adult bicycle purchase intentions, January 2019
                                                                                                                                      • Figure 34: Adult bicycle purchase intentions, by generation of cyclist, January 2019
                                                                                                                                    • One in three parents intends to buy a kids bike in next 12 months
                                                                                                                                      • Figure 35: Children’s bicycle purchase intentions, January 2019
                                                                                                                                    • Bicycle purchase segmentation groups
                                                                                                                                        • Figure 36: Willingness to spend on next bicycle purchase, January 2019
                                                                                                                                    • Cycling Behaviours & Opportunities

                                                                                                                                      • Millennial cyclists most likely to cut back on new bike purchase
                                                                                                                                        • Second-hand market and part-exchange are increasingly attractive to cyclists
                                                                                                                                          • Figure 37: Bicycle purchase and cycle hire behaviours, January 2019
                                                                                                                                        • Bike hire schemes – A help or a hindrance?
                                                                                                                                          • Almost half of cyclists are interested in test-riding an e-bike
                                                                                                                                            • Strong interest in virtual cycling technology
                                                                                                                                              • Figure 38: Cycling opportunities, January 2019
                                                                                                                                          • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                              • Abbreviations
                                                                                                                                                • Consumer research methodology
                                                                                                                                                • Appendix – Market Size and Forecast

                                                                                                                                                    • Figure 39: UK bicycles market, volume forecast, 2018-23
                                                                                                                                                    • Figure 40: UK bicycles market, value forecast, 2018-23
                                                                                                                                                  • Forecast methodology