Q3 offers no respite for struggling industry

As the world's leading bicycle component supplier, there is no better thermometer for the industry than Shimano. For fiscal year 2025, the Japanese manufacturer reported a 2.7% increase in net sales in bicycle components - a slight glimmer of hope that an industry rebound is imminent.

The international bicycle industry, once heralded as a long-term growth story thanks to the e-bike boom, now finds itself grappling with uncertainty. Tariffs, shifting trade flows, regulatory ambiguity and fragile consumer demand are reshaping strategies across the value chain. Four leading manufacturers — Bosch eBike Systems, Schwalbe, Bafang and Velo —paint a picture of an industry both challenged and transformed, where resilience increasingly depends on innovation and adaptability.