Bicycle Market to Grow with a CAGR of 4.40% through 2030
Rising
environmental concerns, increasing urban congestion, and growing health
consciousness are fueling the demand for bicycles worldwide. The shift toward
sustainable transportation and government support for cycling infrastructure
further accelerate market expansion. These are the factors driving the market
in the forecast period 2026–2030.
According to TechSci Research report, “Bicycle Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”, The
Global Bicycle Market was valued at USD 54.8 billion in 2024 and is expected to
reach USD 71.3 billion by 2030 with a CAGR of 4.40% during the forecast period.
The global bicycle market is progressing steadily, driven by the rising
focus on fitness, cost-effective transportation needs, and increasing
environmental concerns. Consumers are leaning toward healthier commuting
options as cities invest in cycling infrastructure to combat pollution and
traffic congestion. Advancements such as electric assist systems and
lightweight designs are making bicycles accessible to a broader range of
riders.
Smart features like GPS navigation, theft protection, and direct sales
strategies are reshaping the landscape of the market. New opportunities are
arising through the adoption of electric and cargo bicycles, catering to the
needs of both individuals and businesses. Growing participation in cycling
sports and recreational activities is further fueling the market, supported by
ongoing product diversification.
The industry faces challenges such as supply chain instability, strong
competition from alternative micromobility options, and the relatively high
pricing of technologically advanced bicycles. Climatic conditions and the need
for regular maintenance can also hinder adoption. Companies focusing on
innovation, affordability, and better consumer engagement strategies are likely
to overcome these hurdles and maintain growth momentum.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "Bicycle Market"
Bicycle Market Is Segmented By Type, Technology, Sales Channel, and
Region.
The bicycle market is
segmented by technology into electric and conventional categories. Electric
bicycles are equipped with battery-powered assistance that helps riders cover
longer distances with less physical effort. They are often preferred by
commuters, delivery personnel, and recreational cyclists who seek convenience
and extended range. The growing variety of electric models, including mountain
and cargo e-bikes, is broadening the market’s reach across different consumer
needs and applications.
Conventional bicycles,
operated solely by human pedaling power, remain widely popular for commuting,
fitness, and leisure. They are valued for their affordability, simplicity, and
low maintenance compared to electric alternatives. The conventional segment
includes a wide range of styles such as road bikes, mountain bikes, hybrid
bikes, and cruiser bikes, each designed for specific terrains and user
preferences. Continued advancements in materials like carbon fiber and aluminum
are making conventional bicycles lighter and more durable, appealing to both
amateur and professional cyclists. Both electric and conventional technologies
are evolving to address changing consumer lifestyles, creating diverse options
in the market.
In 2024, Asia-Pacific
emerged as the fastest-growing region in the bicycle market. Factors such as
rapid urbanization, increasing investments in cycling infrastructure, and
heightened awareness of environmental sustainability are major contributors.
Consumers in the region are embracing bicycles for commuting, recreation, and
fitness due to the convenience and affordability they offer. Rising disposable
incomes and technological advancements in bicycles are encouraging wider
adoption across various consumer groups. The region’s strong
government support, including subsidies for electric bicycles and public
cycling initiatives, is further propelling market growth. Cycling is
increasingly integrated into urban planning strategies, promoting safer and
more accessible transportation alternatives. The dynamic economic development
and growing health consciousness among populations continue to position
Asia-Pacific as a key driver of bicycle market expansion.
Major Market Players
Operating in Global Bicycle Market Are:
- Accell Group N.V.
- Derby Cycle Holding GmbH
- Dorel Industries Inc.
- Giant Manufacturing Co. Ltd.
- Merida Industry Co., Ltd.
- Pon Holdings B.V.
- Scott Sports SA
- Shimano Inc.
- Specialized Bicycle Components, Inc.
- Trek Bicycle Corporation
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The global bicycle market is witnessing significant
growth due to the increasing focus on sustainable transportation and personal
health. Rising urbanization, coupled with governmental initiatives promoting
cycling infrastructure, has created a strong foundation for market expansion", said Mr. Karan Chechi, Research
Director of TechSci Research, a global research-based management consulting
firm, these trends are expected to contribute significantly to the market's
expansion.
"Bicycle Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Mountain Bikes, Road Bikes, Cargo Bikes, Others), By Technology (Electric, Conventional), By Sales Channel (Online, Offline), By Region & Competition, 2020-2030F”, assesses the market's future
growth potential and provides data on market size, trends, and forecasts. It
aims to offer comprehensive market insights, helping decision-makers make
informed investment choices. The report also highlights emerging trends, key
drivers, challenges, and opportunities in the Global Bicycle Market.
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