Feedback Industry Report Bicycle

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Contents
01 Background 04 - 07
a. Scope and limitations
b. Research aim and objectives
c. Research methodology
02 Bicycle market in Germany 08 - 18
a. Bicycle market
b. Bicycle production
c. Market by bicycle type (indicative)
d. Key market trends
e. Key players in the market
f. Key market drivers
g. Key market challenges
h. Future market size
03 About Us 19 - 24
Assessment of the Germany Bicycle Market for 2013 and market
forecast for 2018
Feedback has considered the Calendar Year 2013 for this market
assessment, which represents the period between Jan 2013 and Dec
2013
The study was conducted during January 2014

Limitations
Product wise splits and total production of the bicycle market are order
of magnitude estimates, based on discussions with stakeholders
Qualitative information is based primarily on discussions held with the
key players and could therefore be subject to variations
Scope and timelines
The aim of the research is
to present a
comprehensive overview
of the Bicycle Market in
Germany
Market estimate for Bicycle market in Germany for CY 13
Research aim
Market segmentation by products and total bicycle production, analysis of
market trends and dynamics.
Research objectives
Key players in the market
Providing insights into challenges, market drivers and market constraints
and their impact on the future market
Market projections for 5 years
Information Collection
Quality check and Information Analysis Future Projections
Secondary Research
Harnessed internal Body of
Knowledge (BoK)
Leveraged access to 10+
commercial databases
(Securities, Prowess, Factiva,
Reuters, RoC, IRS, etc)
Study research reports, company
annual reports, investor
presentations, analyst reports
Accessed import/ export data
Primary Research
Industry experts
Companies operational in India
Channel partners
Other key stakeholders

Analyzed gathered data to determine
Market dynamics
Drivers in the market
Key trends
Segmentation
Market size estimated via extrapolation
models and expert views
Analysis of drivers, challenges &
restraints
Growth trends
Industry dynamics
Stakeholder views
Secondary
Respective Ministry
Planning Commission
Individual Company Annual Reports, Analyst reports
News articles, Blogs Business Line, Economic Times, Reuters, etc.
Relevant research reports, white papers
Primary research across a sample of stakeholders in the industry
S
e
l
e
c
t

s
o
u
r
c
e
s

Domestic
market
Production Imports Exports
= +
+
2.17 mn Nos. 1.39 mn Nos. 3.11 mn Nos. 3.89 mn Nos.
=
German market share in European Bicycle market;
Production share of 19%
Sales share of 20%
EPAC (Electric Power-Assisted Cycle) share 44%
The average price (Including VAT) of bicycle in Germany was at USD 700 as of 2013
German Bikes parts and accessories production was at USD 356.2 mn in 2013
+
USD 1,525 mn. USD 977 mn. USD 2,349 mn. USD 2,897 mn.
=
CY13
Source: Feedback Analysis, News Articles
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Bicycle Sales (mn) 5.12 4.70 4.60 4.90 4.70 4.75 4.43 4.60 4.35 4.05 4.01 4.05 3.97 3.89
YoY Growth (In %) -8.20% -2.13% 6.52% -4.08% 1.06% -6.84% 3.95% -5.43% -6.90% -0.99% 1.00% -2.07% -1.83%
-10%
-5%
0%
5%
10%
0
2
4
6
Bicycle Sales (In mn units)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Bicycle Sales (USD mn) 2,428 2,325 2,225 2,310 2,196 2,219 2,113 2,313 2,300 2,474 2,524 2,745 2,788 2,897
YoY Growth (In%) -4.2% -4.3% 3.8% -4.9% 1.1% -4.8% 9.5% -0.5% 7.6% 2.0% 8.8% 1.6% 3.9%
-10%
-5%
0%
5%
10%
15%
0
1,000
2,000
3,000
4,000
Bicycle Sales (In USD mn)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Bicycle Production (mn) 3.40 3.00 3.05 3.20 2.94 2.71 2.49 2.40 2.42 2.25 2.23 2.29 2.21 2.17
YoY Growth (In %) -11.76 1.50% 5.19% -8.21% -7.69% -8.25% -3.61% 0.75% -7.03% -0.85% 1.78% -0.81% -1.77%
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
Bicycle Production (mn)
Touring
Bikes, 34%
City Urban
Wheel,
25%
MTB, 10%
ATB, 8%
E-Bikes,
8%
Others,
15%
Market by bicycle type 2013 (indicative)
Total: 3.89 million
5.0%
3.5%
3.0%
2.0%
1.5%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
Other
Kid
Holland U. touring
Juveniles
Racing machine and sports bike
City bikes and touring bikes have
largest combined market share
of 59%
E-bike as a segment is relatively
new but has grown significantly
in last 3 years, Governments
initiative of creating charging
station in major locations has
further pushed the demand for
ebikes
Demand for Racing/sports bike
has decline over the years due
to reduction in related sports
event
Although the market is dominated by city bikes and touring bikes with a combined share of 59% of the total market , highest
growth YoY has been in electric bicycle segment (15%)
Electric bicycle gaining popularity
Market of hybrid bikes and especially city bikes continue to grow positively
More citizens are opting for electric bicycle for short distance travel on a daily basis
The frequency of cycle usage has increased which has resulted in better health of the citizens
About 70% of the bicycle was through specialty stores and shops
Larger specialty retailers have benefitted more from the e-bicycle trend because small retailers are rarely able to handle the huge investments in
capital necessary to enter the e-bicycle segment
Small retail shops generally do not have the warehouse or display space necessary to offer customers a wide selection of models
Individual Bike Dealers (IBD) professionalization pays out in growing market share
Nearly 70% of all new bicycles sold in Germany are through qualified retail shops
Total shops dealing in cycles are 5,640 which includes specialist retailers, self service counters and discount markets
German market is highly dependent on imports from other countries, almost 52% of imports form other European countries
No. of Players
20 players manufacturing cycles in Germany
20+ players importing cycles from other European Countries, China and
Taiwan
4 large players with maximum number of brands available in the market
Derby Cycles, Accell Group, Prophete and Stevens Bikes
Retail Strategy
Most Players operate through specialty store and shops with more than 70%
of sales coming through large organized retails
Most of these large special shops stock and display high value e-bikes,
MTBs and ATBs
Small shops generally do not have the warehouse or display space to be
able to offer wider selection to the customer
Products Offered
Most of the manufacturers offer Touring bikes, City Urban bikes, MTBs and
ATB's which is 77% of their overall sales
Most players have started looking at high growth e-bike market.
Name of the Players and
Brands
Derby Cycle - Focus, Kalkhoff, Raleigh, Univega, Rixe

Accell Group - Ghost, Haibike, Hercules, Winora, Raleigh

Prophete - Stratos, Prophete, Rex

Stevens Bikes - Steven, Oxegen
Key Players
SL# Company Name Location Brands Website Link
01 Derby Cycle Cloppenburg, Germany Focus, Kalkhoff, Raleigh, Univega, Rixe http://www.derby-cycle.com/
02 Accell Group Sennfeld, Germany Ghost, Haibike, Hercules, Winora, Raleigh http://www.accell-group.com/
03 Prophete
Rheda-Wiedenbrck,
Germany
Stratos, Prophete, Rex http://www.prophete.de/
04 Stevens Bikes Hamburg , Germany Steven, Oxegen http://www.stevensbikes.de/2014/index.php
05 Centurion Bicycles Magstadt, Germany Centurion http://www.centurion.de/en_int
06 Corratec Raubling, Germany Corratec http://www.corratec.com/en
07 Cube Waldershof, Germany Cube http://www.cube.eu/en/cube-bikes/
08 Diamant Chemnitz, Germany Diamant http://www.diamantrad.com/home/
09 Hase bikes Waltrop, Germany Hase http://hasebikes.com/2-1-news-homepage.html
10 Kettler Ense, Germany Kettler http://de.kettler.net/
11 Patria Bikes Bielefeld, Germany Patria http://www.patria.net/en/bicycles/
12 Porsche Bikes
Baden-Wrttemberg,
Germany
Porsche
http://www.porsche-bike.com/the-new-porsche-
bikes/
13 Riese und Mller Darmstadt, Germany Birdy http://www.r-m.de/
14 Canyon Bicycles Koblenz, Germany Canyon https://www.canyon.com/_en/
15 Storck Bicycle Idstein, Germany Storck http://www.storck-bicycle.de/
Cycling Infrastructure development
EURO 70 mn investment by 2020 to build bicycle trails in Germany
New dedicated cycling lanes in urban and rural areas
Environmental & Health Friendly higher awareness
Reduced carbon dioxide emission
80 and 70 per cent of men and women respectively forecast to be overweight
or obese in Germany
Gender-neutral product
Cycling has been made both segment- and gender-neutral, appealing to the
widest number of user groups, across all ages and genders
Cycle to Work Scheme
The Cycle to Work Scheme, which has resulted in people to take advantage of
the tax- efficient incentive to buy a bike
Electric bicycle popularity
Market of hybrid bikes especially in city bikes continue to gain popularity among
citizens
Cycle rental schemes
Large group of cyclists gaining exposure to riding by using rented bikes in city
centres
1
2
3
4
5
Targets 2018
Cycle Market CAGR by Volume - 2%
Value USD mn 3,628
Volume 4.3 Mn Units
6
The proportion of GDP spent on public cycling infrastructure by the Germany Government has been lower than government
spending in many other European countries
Declining market for sports bicycle in German market
Future regulations on Electric Bicycle by the government
Average speed of a bicycle is 20 km/ h and with electric bicycle it has gone up to 40 km/ h, which has resulted in higher accident rates
Government is emphasizing to get new regulations in speed limit for electric bicycle
Growing popularity of Cars and bikes among the younger generation
German winters are extremely harsh and does not encourage to ride bicycle in winters
Cycling infrastructure has not been completely developed in few parts of the country
There has been an almost doubling of the proportion of children being driven to school over the past 20 years, despite 80 per
cent owning bikes

Bicycle Production (Mn units)
2.17 2.17 2.17
2.13
2.09 2.09
2013 2014 2015 2016 2017 2018
Future Outlook Bicycle Sales Value (In USD Mn)
Bicycle Sales Volume (Mn units)
German Bicycle production estimated to go down by 2% between
2015-2017.
German bicycle sales volume projected to witness a CAGR of 2%
from 2013-2018.
German bicycle sales value likely to see a CAGR of 4% from 2013-
2015 and of 5% from 2016-2018.
Low value imports from other Asian countries and European
countries to dominate the market
3.89
3.97
4.05
4.13
4.21
4.30
2013 2014 2015 2016 2017 2018
2897
3013
3134
3290
3455
3628
2013 2014 2015 2016 2017 2018
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