Whilst the global cycling industry is large (€55bn in 2024), resilient and diversified the pace of growth has stagnated since the COVID fueled acceleration from 2020 to 2022. As the sector continues to evolve at pace post COVID, this brings opportunities for both operators and investors. In this primer Kroll explores key trends being observed in the market and the implications these are having on M&A market dynamics.
Key Takeaways
M&A Implications – A Good Time to Find Opportunities
- Fragmented Market: The market remains fragmented, presenting opportunities for inorganic growth and consolidation at attractive value entry points
- Technology Platforms Integration: Acquisition and integration of emerging technologies to keep pace with e-bike category growth.
- Broader Cycle Ecosystem: Attractive opportunities in apparel, accessories and components.
- Vertical Integration: Expect manufacturer consolidation across the value chain to drive synergies and valuation.
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