Portugal Bike Value has flying start in 2022 with sales value up 49%
ÁGUEDA, Portugal - EU-funded close-to-market bicycle production in Portugal is continuing to gain momentum. According to the national bicycle industry association ABIMOTA, the sales value in the first two months of this year increased year-on-year by almost 50% to nearly €110 million.
While in 2021 the country’s bicycle industry achieved already “the best year ever for the Portuguese two-wheeler and active mobility sector,” all indicators in the first two months of 2022 suggest that last year’s record sales of €594 million will be surpassed once again this year. In January and February last year the Portuguese bicycle industry reached a total sales value of €73.78 million. This has been €109.93 million in January and February 2022, a 49% increase.
Growth is against expectations
“These positive figures keep us very optimistic,”, states ABIMOTA Secretary General Gil Nadais, “to be honest, for this year we had expected to see a slowdown in growth after last year’s 39% value sales increase. However, this year’s figures for the first two months seem to confirm continuing growth. If this trend continues, we will be able to grow and, more importantly, we will continue to increase in percentage terms compared to last year.”
This expansion is rooted not only in the generally favorable economic climate for bicycle and e-bikes, but also in the investments made by respective companies in the country. For example, Carbon Team’s large-scale carbon frame facility and RTE’s expansion plans to include a factory dedicated to e-bike production.
Strategic investments in Portugal
“Yes, the pandemic, the shortages and the resulting increase in fuel prices explain the acceleration we have experienced. I think those were the triggers”, confirms Nadais. “However, the figures we are achieving are also rooted in the Portuguese bicycle industry’s strategic investments since the last decade. In this way, even at the beginning of the crisis, we were prepared to respond positively.” Here, the Secretary General is referring again to the Portugal Bike Value brand – the umbrella that encouraged the domestic bicycle industry to rely “on quality and cutting-edge technology.”