Bulgarians not only produce more bicycles, they also ride them more and more. The Bulgarian Association of Bicycle Producers has recorded an increase of sales from 53,000 units in 2015 to almost 79,000 units in 2016 at a total market value of €10 million. The domestic sales are dominated by Bulgarian and Chinese-made bicycles. Unlike other countries in Europe, the market for e-bikes is still very small in Bulgaria.
Bulgaria is one of the leading manufacturers of bicycles, holding the fifth position in Europe in this indicator. A boom in recent years in Bulgaria has been registered in the production of electric bicycles. The sector turned out to be one of the few in Bulgaria that did not suffer during the coronavirus crisis, even reporting increased demand after the fall of restrictions. Bulgarian manufacturers also work for some of the world’s most prestigious brands.
Each year, almost one million brand new bikes (according to Eurostat data) cross the borders of Germany, the Netherlands, Austria, Switzerland, France, Denmark and Sweden, coming from one destination: Bulgaria, which is becoming the new EU bike valley.
Over 90% of the bicycles produced in 2019 in Bulgaria are for export.
Electric bicycles production has jumped from about 28,000 in 2017 to over 200,000 in 2019.
Supplying close to one million units to European countries, Bulgaria is already an important manufacturer of bicycles and e-bikes for the EU market. Ongoing investments in the modernization of production and increasing the capacity should improve this strong position.
Consult with BGAdvise
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