The bicycle ecosystem is worth 9 billion revenues, cycling tourism can be worth 20

Italy is a country that pedals and the love for the bicycle is no longer just a perceived phenomenon. Its ecosystem is a business that generates 9 billion euros in revenues per year and is worth 633 million in exports. To bring order in the world of bicycles and its boom over the last two years is a study by Banca Ifis and its Market Watch observatory. In Italy there has never been a shortage, but there are more and more cycling enthusiasts: about 10.7 million of which 4 million are practicing at an amateur level. On the podium of the most active regions on the pedals are Lombardy, Emilia Romagna, Piedmont and Veneto. The entire supply chain has 2,900 companies and employs 17,000 people. The sector proved to be anti-cyclical: in 2020, also thanks to the pandemic which reduced the use of public transport and increased the need for social distancing, 90% of producers increased or confirmed investments. Not to mention the potential of cycle tourism, which could be worth 20 billion in related activities. The market driver is the electric bike: in 2020 sales increased by 44% and 81% of distributors estimate a growing trend for the two-year period 2021-22. In all, the bikes sold in 2020 were over 2 million (+ 17%): this is the best result of the last 22 years. From 2000 onwards the import share has grown, but in the last five years it has reduced its incidence, satisfying 35% of the demand compared to 41% in the previous five years. The big problem facing the market at the moment is the components, from gears to frames, which are in short supply. Aluminum, steel, iron and carbon are the raw materials most imported by producers and in 2020 they suffered from increases and availability. The rise in prices is mainly attributable to the health crisis, which has made transport more difficult and reduced mining activities. In 2020, for example, there were approximately 300 days of waiting times for supplies of components for the European supply chain.Today, foreign supplies show a great concentration in Asian markets, with about 36% of imports coming from China. According to the Confederation of the European Bicycle Industry (Conebi), however, the European supply chain, which today produces components for 2 billion (of which 25% in Italy), wants to reorganize itself with the aim of increasing its autonomy and arriving in 2025 at a value produced of 6 billion. Two-wheeled tourism also has extraordinary potential: cyclists currently spend 4.6 billion euros a year in Italy but according to Banca Ifis, investing in services along national cycle paths could quadruple their revenues. 20 billion euros could be obtained in Italy if the best practices of Trentino Alto Adige were applied, which obtains 338,000 euros in revenues per kilometer.