Bicycle Market Overview, 2029

Around the world, bicycles are increasingly recognized as a flexible, environmentally friendly, and health-enhancing mode of transportation. In numerous countries, bicycles are appreciated not only for recreational purposes but also as a primary commuting option, particularly in urban areas focused on minimizing carbon emissions and alleviating traffic congestion. Prominent nations with high rates of bicycle usage include the Netherlands, Denmark, and Germany, where robust cycling infrastructure supports bicycles as an effective and dependable alternative to automobiles. Additionally, China and India exhibit considerable bicycle usage, serving both as a traditional transport method and an economical choice for short-distance travel.

The term 'bicycle' specifically denotes a two-wheeled vehicle propelled by pedalling, enabling individuals to travel without the need for fuel. Bicycles provide a range of advantages, including enhanced cardiovascular health, decreased pollution levels, and lower maintenance requirements compared to motor vehicles. Furthermore, cycling is often more economical and quicker for short journeys in congested urban environments, where traffic can impede car travel. In many global urban centers, the public's perception is increasingly evolving to view bicycles as a sustainable answer to urban mobility issues, prompting governments to invest in bike lanes and rental initiatives to promote cycling. As awareness of these benefits grows, bicycles are gaining traction worldwide as an eco-friendly, cost-effective, and health-conscious option for both commuting and leisure activities.

According to the research report, “Global Bicycle Market Outlook, 2029”, the market is expected to cross USD 102.04 Billion market size by 2029, with 6.09 % CAGR by 2024-29. The global bicycle market is experiencing significant growth driven by several key factors, foremost among them being a rise in environmental awareness and health consciousness. As society becomes increasingly cognizant of the negative impact of motor vehicles on the environment, bicycles are emerging as a viable sustainable option, especially in urban settings that prioritize pollution reduction.

The health advantages of cycling, such as enhanced cardiovascular fitness and overall well-being, further stimulate demand as more individuals pursue active lifestyles. Moreover, government initiatives to improve cycling infrastructure - such as dedicated bike lanes, public bike-sharing programs, and various incentives - have played a crucial role in promoting bicycle use, particularly in Europe and Asia. Rising fuel costs and urban congestion are also motivating consumers to view bicycles as a cost-effective and practical transportation solution. Additionally, advancements in technology, especially in electric bicycles, have broadened the market's appeal, making cycling more accessible for longer journeys and challenging terrains. Collectively, these elements are driving the sustained expansion of the global bicycle market.

The By Type segment of the global bicycle market is primarily led by E-bikes and road bikes, which command significant market shares due to the increasing demand for sustainable and convenient transportation options, as well as high-performance cycling experiences. Road bikes are particularly popular among commuters and cycling enthusiasts for their speed and efficiency on paved surfaces. Meanwhile, E-bikes have gained traction thanks to advancements in battery technology and a growing emphasis on eco-friendly urban mobility.

Mountain bikes continue to attract outdoor enthusiasts with their robust off-road capabilities, while hybrid bikes appeal to a diverse audience looking for a versatile solution suitable for both road and light off-road riding. Additionally, the 'Others' category, which includes kids’ bikes, standard bikes, and MAAS (Mobility as a Service) bikes, rounds out the extensive range of offerings in the global bicycle market, catering to various user needs and demographics.

The By End User and By Biker Type categories of the worldwide bicycle market provide information on a range of consumer preferences and usage trends. Men make up the greatest share of End Users, mostly due to their strong interest in cycling as a form of exercise and a means of mobility. Urban commuters and fitness fanatics who value performance and cutting-edge bike features are driving this demand. With the advent of designs specifically for female riders and a trend toward healthier lives, women are also making up a larger share of the market. The children's market is noteworthy for its consistent demand as parents look for high-quality bikes for family-friendly activities, skill development, and leisure use.

The Biker Type segment divides users based on their engagement levels, with 'Leisure' bikers accounting for the largest share. These leisure cyclists, who primarily ride for recreation, are attracted to affordable and easy-to-use models that enhance their casual outings or light fitness activities. This segment appeals to a diverse audience across various ages and skill levels, which significantly broadens its market reach.

On the other hand, 'Highly Engaged' bikers, including competitive cyclists and avid enthusiasts, seek out high-performance bicycles and are early adopters of the latest technologies in road and mountain biking. 'Engaged' cyclists, who ride regularly but do not compete, tend to choose bikes that strike a balance between performance and comfort, often selecting hybrid or city bikes. Finally, 'Travel' bikers, who use bicycles for exploration and adventure, prefer robust and adaptable models, typically from the mountain and hybrid categories. Together, these segments highlight the varied ways cycling fulfills both practical and recreational needs around the world.

In the global bicycle market, the By Technology Type and By Sales Channel segments underscore evolving consumer preferences in bike technology and purchasing behavior. Within the Technology Type segment, electric bicycles (E-bikes) have been rapidly gaining ground due to increased interest in eco-friendly commuting options, urban mobility solutions, and advanced battery technology, making them a popular choice among both casual and regular cyclists.

Despite this growth, conventional bicycles still command a significant share of the market, appealing to traditionalists and fitness-oriented cyclists who prioritize the physical and health benefits of pedal-only bikes. Conventional bikes remain particularly popular in markets where cycling culture is well-established as a fitness or recreational activity, contributing to balanced growth within the technology segment.

When examining the Sales Channel segment, retail shops - including specialized and sport-focused stores - hold the highest market share. These brick-and-mortar locations attract a loyal customer base by offering personalized services such as bike fitting, expert guidance, and on-site maintenance, appealing to both highly engaged cyclists and newcomers seeking quality assurance and a hands-on experience. Retail shops have proven particularly effective in regions with established cycling communities, where customers value expert advice and the chance to test equipment before purchasing.

Multi-brand stores appeal to value-conscious buyers seeking a range of options in one place, while the online channel has experienced strong growth due to its convenience, competitive pricing, and accessibility, particularly popular with tech-savvy and younger demographics. This diverse channel mix enables the bicycle market to cater to varied customer preferences and expand its global reach.

COVID-19 Impact

The outbreak of COVID-19 is certainly expected to favor the market's growth in the coming years as several governments around the globe are significantly promoting bicycles as one of the safest modes of transportation, which helps people to maintain social distance. Besides, governments across key countries, such as the U.K. and Italy, are providing subsidies for the purchase of new bicycles during the pandemic.

Therefore, the government's support in the form of initiatives and subsidies, coupled with growing awareness regarding the benefits offered by bicycles, bodes well for the market's growth over the next few years. More people are choosing to ride their bikes to work to stay active after long lockdowns or to escape packed trains and buses. The environmental benefits of riding are leading to more bicycle lanes in cities across Europe, including Paris, Berlin, Lisbon, and Barcelona.

Considered in this report

• Geography: Global
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• Global Bicycle market with its value and forecast along with its segments
• Region wise Bicycle market analysis
• Various divers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

Segment covered in the report

By Type

• Road Bikes
• Mountain Bikes
• Hybrid Bikes
• E-bikes
• Others (Kids, standard, maas)

By End User

• Men
• Women
• Kids

By Bikers Type

• Highly Engaged
• Engaged
• Leisure
• Travel

By Technology Type

• Electric
• Conventional

By Sales Channel

• Retail Shops (Specialized, Sport)
• Multi-brand
• Online

The approach of the report

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing the government- generated reports and databases.

After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have verified the details obtained from secondary sources.

Intended audience

This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

This product will be delivered within 2 business days.