The global market for Bicycles is estimated at US$65.0 Billion in 2023 and is projected to reach US$96.6 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the bicycle market is driven by several factors, including advances in bicycle technology, such as the rise of e-bikes and smart cycling gear, all of which are attracting new users and enhancing the riding experience. Bicycle industry, over the years, has evolved driven by factors such as growing environmental concerns over greenhouse gas emissions, rising fuel/energy prices, and increasing emphasis on health, wellbeing and longevity, which helped the rapid adoption of cycling as a popular mode of exercise on par with aerobics and yoga. The market has long been benefited from the evergreen popularity of cycling as a preferred leisure activity.
The increasing awareness of environmental issues and the push for sustainable urban transportation solutions are encouraging more people to choose bicycles over motor vehicles, particularly for short commutes. Most of the city roads, motorways and highways across the globe are struggling to cope with the rapid growth in number of vehicles, resulting in traffic congestions. Traffic congestions most often leads to fuel wastage, increase in vehicular accidents, rise in carbon emissions, and loss of working hours, thus aiding market growth.
Government initiatives and infrastructure investments aimed at promoting cycling as a healthy and eco-friendly mode of transportation are also boosting market growth. The growing interest in cycling as a competitive sport and recreational activity continues to fuel market expansion, supported by a robust community of enthusiasts and ongoing innovation in bicycle technology.
The growth in the bicycle market is driven by several factors, including advances in bicycle technology, such as the rise of e-bikes and smart cycling gear, all of which are attracting new users and enhancing the riding experience. Bicycle industry, over the years, has evolved driven by factors such as growing environmental concerns over greenhouse gas emissions, rising fuel/energy prices, and increasing emphasis on health, wellbeing and longevity, which helped the rapid adoption of cycling as a popular mode of exercise on par with aerobics and yoga. The market has long been benefited from the evergreen popularity of cycling as a preferred leisure activity.
The increasing awareness of environmental issues and the push for sustainable urban transportation solutions are encouraging more people to choose bicycles over motor vehicles, particularly for short commutes. Most of the city roads, motorways and highways across the globe are struggling to cope with the rapid growth in number of vehicles, resulting in traffic congestions. Traffic congestions most often leads to fuel wastage, increase in vehicular accidents, rise in carbon emissions, and loss of working hours, thus aiding market growth.
Government initiatives and infrastructure investments aimed at promoting cycling as a healthy and eco-friendly mode of transportation are also boosting market growth. The growing interest in cycling as a competitive sport and recreational activity continues to fuel market expansion, supported by a robust community of enthusiasts and ongoing innovation in bicycle technology.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Road Bikes segment, which is expected to reach US$29.8 Billion by 2030 with a CAGR of a 5.5%. The Mountain Bikes segment is also set to grow at 6.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $11.0 Billion in 2023, and China, forecasted to grow at an impressive 7.6% CAGR to reach $21.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Bicycles Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Bicycles Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Bicycles Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Accell Group B.V., Amer Sports Corporation, Avon Cycles Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 242 Featured):
- Accell Group B.V.
- Amer Sports Corporation
- Avon Cycles Ltd.
- Cycleurope AB
- Cycling Sports Group, Inc. (dba Cannondale)
- Fox Factory, Inc.
- Giant Manufacturing Co. Ltd.
- Hamilton Industries Pvt. Ltd.
- Hero Cycles Ltd.
- Huffy Corporation
- Merida Industry Co., Ltd.
- Montague Corporation
- Pacific Cycle Group
- Raleigh UK Limited
- Santa Cruz Bicycles
- Schwinn Bikes
- Specialized Bicycle Components, Inc.
- Tandem Group plc
- TI Cycles of India
- Trek Bicycle Corporation
- Winora Staiger GmbH
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISNETHERLANDSAUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accell Group B.V.
- Amer Sports Corporation
- Avon Cycles Ltd.
- Cycleurope AB
- Cycling Sports Group, Inc. (dba Cannondale)
- Fox Factory, Inc.
- Giant Manufacturing Co. Ltd.
- Hamilton Industries Pvt. Ltd.
- Hero Cycles Ltd.
- Huffy Corporation
- Merida Industry Co., Ltd.
- Montague Corporation
- Pacific Cycle Group
- Raleigh UK Limited
- Santa Cruz Bicycles
- Schwinn Bikes
- Specialized Bicycle Components, Inc.
- Tandem Group plc
- TI Cycles of India
- Trek Bicycle Corporation
- Winora Staiger GmbH
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 647 |
Published | October 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 65 Billion |
Forecasted Market Value ( USD | $ 96.6 Billion |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Global |