Global Bicycle
Market Report
2024
The Global Bicycle market size is USD 65.2 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The global bicycle market size is USD 65.2 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Bicycle Market Sales Revenue 2023 | $ 65.2 Billion |
Global Bicycle Market Sales Revenue 2030 | $ 86.36 Billion |
Global Bicycle Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.2% |
North America Bicycle Market Sales Revenue 2023 | $ 19.56 Billion |
North America Bicycle Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9% |
Europe Bicycle Market Sales Revenue 2023 | $ 18.26 Billion |
Europe Bicycle Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.2% |
Asia Pacific Bicycle Market Sales Revenue 2023 | $ 22.82 Billion |
Asia Pacific Bicycle Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.5% |
South America Bicycle Market Sales Revenue 2023 | $ 3.26 Billion |
South America Bicycle Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10% |
Middle East and Africa Bicycle Market Sales Revenue 2023 | $ 1.3 Billion |
Middle East and Africa Bicycle Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.1% |
Market Split by Type |
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Market Split by End-User |
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Market Split by Technology |
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Market Split by Price |
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Market Split by Distribution Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Bicycle industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Bicycle Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The market can be segmented into several types of bicycles, including mountain bikes, road bikes, electric bikes, and others. Mountain bikes are the most popular type of bicycle, followed by road bikes. Bicycles are sold through several channels, including online sales, specialty stores, and mass-market retailers. The bicycle market is driven by a diverse range of consumers, including commuters, recreational riders, and professional athletes. The COVID-19 pandemic has also led to an increase in bicycle sales, as more people are looking for safe and sustainable transportation alternatives. The bicycle market is geographically diverse, with North America, Europe, and Asia-Pacific being the largest regional markets. China is the largest market for bicycles, followed by Europe and North America. The bicycle market is highly competitive, with several key players investing in product development, marketing, and distribution to maintain their competitive edge in the market.
(Source:bikebiz.com/accell-group-buys-beeline-bikes/)
The trend of urbanization is leading to increased demand for bicycles as a practical and efficient mode of transportation in crowded urban areas. Bicycles can be faster and more convenient than cars or public transportation in city traffic, and they take up less space, making them a popular choice for city dwellers. Government initiatives to promote sustainable transportation and reduce carbon emissions are also driving growth in the bicycle market. Governments are investing in infrastructure, such as bike lanes and bike-sharing programs, and providing incentives for consumers to choose bicycles over other modes of transportation, such as tax incentives or subsidies.
For instance, in 2018, Chinese bike-sharing company Mobike was acquired by Meituan-Dianping, a Chinese online food delivery and local services platform. The acquisition allowed Meituan-Dianping to expand its offerings and provide customers with a more comprehensive range of services.
(Source:www.reuters.com/article/us-mobike-m-a-meituan-idUSKCN1HB0DU/)
Increased awareness of the health benefits of cycling, such as improved cardiovascular health, weight loss, and reduced stress, is driving demand for bicycles. More people are looking for ways to stay active and improve their overall health, and cycling is a convenient and enjoyable way to achieve those goals. Moreover, advancements in bicycle technology, such as e-bikes and other electric-powered bicycles, are driving innovation and growth in the market. E-bikes, in particular, are becoming increasingly popular as they provide an easier and more convenient cycling experience, making cycling accessible to a wider range of consumers.
For instance, in 2020, Specialized launched its Turbo Creo SL e-road bike, which is designed to provide a smooth and efficient ride on both paved and unpaved roads. The bike features a lightweight carbon frame, a powerful motor, and long-lasting battery, making it ideal for both commuting and recreational riding.
(Source:www.bikeradar.com/news/specialized-turbo-creo-sl/)
The high cost of high-end bicycles and e-bikes makes them less accessible to some consumers, which can limit the market's growth potential, particularly in developing countries. In addition, limited infrastructure, such as bike lanes and secure bike parking, can discourage consumers from using bicycles, particularly in areas with high traffic or safety concerns. Weather conditions, such as rain, snow, and extreme heat, can also limit the usability of bicycles and discourage consumers from using them as a mode of transportation. Furthermore, concerns about safety, particularly among new or inexperienced cyclists, can limit the market's growth potential, as accidents involving bicycles and motor vehicles can discourage consumers from using bicycles as a mode of transportation.
The COVID-19 pandemic has had a significant impact on the bicycle market. With the pandemic limiting travel and public transportation, more people have turned to bicycles as a safe and sustainable mode of transportation, leading to an increase in bicycle sales, particularly in the entry-level and mid-range segments. However, the surge in demand has also led to a shortage of bicycles in many parts of the world, as manufacturers struggle to keep up with the sudden increase in demand. The e-bike market has seen significant growth during the pandemic, as consumers seek out alternative modes of transportation that are easier to use and require less physical exertion. The pandemic has also led to a shift in the product mix of the bicycle market, with more consumers purchasing entry-level and mid-range bicycles rather than high-end models. However, the pandemic has disrupted supply chains for many bicycle manufacturers, leading to delays in production and delivery times.
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The major players offer a wide range of bicycles, including road bikes, mountain bikes, e-bikes, and kids' bikes, and have a strong brand reputation and a global presence. The key success factors in the bicycle market include innovation, quality, brand reputation, and distribution channels. Companies that can develop and market new and innovative products while maintaining high-quality standards and strong brand image are likely to succeed in the market. Additionally, companies with strong distribution networks and partnerships with retailers and distributors are better positioned to reach wider customer base & increase their market share.
(Source:velo.outsideonline.com/road/road-racing/smooth-operator-trek-domane-slr-etap-review/)
Top Companies Market Share in Bicycle Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Global Bicycle Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bicycle Industry growth. Bicycle market has been segmented with the help of its Type, End-User Technology, and others. Bicycle market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, hybrid bicycle holds a prominent market share. Hybrid bicycles offer a combination of features from road bikes and mountain bikes, making them versatile and attractive to a wide range of consumers. They are designed for a variety of riding conditions, from paved roads to off-road trails, and offer a comfortable and efficient ride for commuting, fitness, or recreational purposes.
Mountain bicycle is the fastest-growing category over the forecast period. Mountain bikes are designed for off-road use and offer suspension, wider tires, and more durable frames, making them ideal for riding on rough terrain. They are popular among outdoor enthusiasts and adventurers exploring mountainous and rugged terrain.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Bicycle Industry. Request a Free Sample PDF!
According to Cognitive Market Research, men hold a prominent market share. Historically, men have been the largest bicycle consumer group, particularly for sports and recreational purposes. Men's bicycles are often designed with larger frames, longer top tubes, and wider handlebars to accommodate their larger body size and longer limbs.
Women are the fastest-growing category over the forecast period. While men have historically been the largest consumer group for bicycles, there has been a growing trend towards gender-neutral and women-specific bicycles in recent years, as more women have taken up cycling for transportation, fitness, and recreation. Women-specific bicycles are designed with shorter top tubes, narrower handlebars, and more comfortable saddles to accommodate women's body size and proportions. This has made cycling more accessible and comfortable for women and has helped to drive demand for women's bicycles.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Bicycle market report 2024 Edition by contacting our team.
According to Cognitive Market Research, electric bicycles held the major market share over the forecast period due to the increasing popularity of sustainable transportation alternatives, rising urbanization, and technological advancements in battery and motor technology. E-bikes offer a more convenient and easier cycling experience, making them attractive to a wider range of consumers, including older adults and those with physical limitations. E-bikes also offer environmental benefits, as they produce no emissions and require less physical exertion than conventional bicycles, making them an attractive choice for consumers looking to reduce their carbon footprint.
Conventional bicycles are the fastest-growing category over the forecast period. Conventional bicycles are generally more affordable than e-bikes, making them a more accessible option for many consumers. This can be particularly important in developing countries where cost is significant. They offer a great way to stay active and improve fitness levels, which is increasingly important to consumers worldwide. Many consumers appreciate the physical activity and sense of accomplishment of using a conventional bicycle.
According to Cognitive Market Research, Asia Pacific dominated the market in 2023 and accounted for around 35% of the global revenue, owing to the region's increasing demand for eco-friendly transportation solutions. Additionally, there has been a rise in awareness about health and fitness, which has led to more people taking up cycling as a form of exercise. The growing popularity of cycling as a recreational activity has also contributed to the growth of the market.
Europe is the fastest-growing category. One of the primary factors is the increasing popularity of cycling as a means of transportation. With growing traffic congestion in urban areas, cycling offers a convenient, eco-friendly, and cost-effective alternative to cars and public transportation. Many European cities are investing in cycling infrastructure, such as bike lanes and secure bike parking, to encourage more people to cycle. Another factor is the growing awareness about health and fitness. Cycling is an excellent form of exercise and is increasingly seen as a way to improve physical and mental health. Many people are turning to cycling as a way to stay active and healthy.
The current report Scope analyzes Bicycle Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, North America held the major market of more than 30% of the global revenue with a market size of USD 19.56 billion in 2023 and will grow at CAGR of 9.0% from 2023 to 2030. One of the primary factors is increasing popularity of cycling as a means of transportation. With growing traffic congestion in urban areas, cycling offers a convenient, eco-friendly, and cost-effective alternative to cars and public transportation. Many North American cities invest in cycling infrastructure, like bike lanes and secure bike parking, to encourage more people to cycle. Another factor is the growing awareness about health and fitness. Cycling is an excellent form of exercise and is increasingly seen to improve physical and mental health. Many people in North America are turning to cycling to stay active and healthy. According to Cognitive Market Research, increasing popularity of e-bikes is also driving the growth of the bicycle market in North America. In conclusion, the bicycle market in North America is being driven by a combination of factors, including convenience, health and fitness, environmental concerns, technological advances, and changing consumer preferences.
According to Cognitive Market Research, Europe with a market value of USD 18.26 billion in 2023 and projected to expand at CAGR of 9.2% from 2023 to 2030, Europe accounted for the majority of global revenue, accounting for over 28% of the total. The rise in demand for eco-friendly transportation solutions is driving the growth of the bicycle market in Europe. With concerns about climate change and air pollution, many people seek greener transportation options. Cycling is an excellent way to reduce carbon emissions and air pollution, making it an attractive option for environmentally conscious consumers. According to Cognitive Market Research, the road bike segment is significant, especially in regions with strong cycling cultures like Europe. In conclusion, the European bicycle market is driven by a combination of factors, including convenience, health and fitness, environmental concerns, and technological advances.
According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 35% of the global revenue with a market size of USD 22.82 billion in 2023 and will grow at CAGR of 11.5% from 2023 to 2030. One of the primary factors is the increasing popularity of cycling as a means of transportation. Many countries in Asia Pacific region are experiencing rapid urbanization and traffic congestion, leading to growing demand for alternative modes of transportation. Cycling is an eco-friendly, affordable, and convenient option that is becoming increasingly popular among regional commuters. According to Cognitive Market Research, e-bikes have been gaining popularity in Asia Pacific region, particularly in China, where they are becoming a popular alternative to traditional bicycles for commuting and transportation. In conclusion, the Asia Pacific bicycle market is being driven by a combination of factors, including convenience, health and fitness, environmental concerns, technological advances, and changing consumer preferences
According to Cognitive Market Research, Latin America accounted for more than 5% of the global bicycle product revenue in 2023 with a market size of USD 3.26 billion in 2023 and will grow at CAGR of 10% from 2023 to 2030. The rise in demand for eco-friendly transportation solutions is also driving the growth of the bicycle market in Latin America. With concerns about air pollution and climate change, many people seek greener transportation options. Cycling is an excellent way to reduce carbon emissions and air pollution, making it an attractive option for environmentally conscious consumers. According to Cognitive Market Research, the men's segment is the largest segment in the Latin America bicycle market. Men are traditionally seen as the primary users of bicycles, particularly for recreational and competitive purposes. In conclusion, the Latin America bicycle market is being driven by a combination of factors, including convenience, health and fitness, environmental concerns, technological advances, and changing consumer preferences.
According to Cognitive Market Research, the Middle East and Africa accounted for more than 2% of the global revenue in 2023 with a market size of USD 1.3 billion in 2023 and will grow at CAGR of 10.1% from 2023 to 2030. Many countries in the Middle East and Africa region are experiencing rapid urbanization and traffic congestion, which is leading to a growing demand for alternative modes of transportation. Cycling is an eco-friendly, affordable, and convenient option that is becoming increasingly popular among commuters in the region. According to Cognitive Market Research, rise in demand for leisure and recreational activities is also driving the growth of the bicycle market in the Middle East and Africa. Many countries in the region have beautiful natural landscapes that are ideal for cycling. As a result, cycling is becoming a popular leisure activity among locals and tourists alike. In conclusion, the Middle East and Africa bicycle market is being driven by a combination of factors, including convenience, health and fitness, environmental concerns, technological advances, and changing consumer preferences.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that my skills remain sharp and relevant. I spearheaded research initiatives focused on market trends, customer behavior, and competitive landscapes. I have a demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams, I played a pivotal role in shaping successful projects that hinged on robust research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Bicycle Market is witnessing significant growth in the near future.
In 2023, the Mountain segment accounted for noticeable share of global Bicycle Market and is projected to experience significant growth in the near future.
The Men segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Hero Cycles Ltd. , Orbea and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Mountain, Road, Hybrid, Others |
End-User | Men, Women, Kids |
Technology | Electric, Conventional |
Price | Low Range, Medium range, Premium |
Distribution Channel | Offline, Online |
List of Competitors | Hero Cycles Ltd., Merida Industry Co. Ltd., Orbea, Trek Bicycle Corporation, Giant Bicycles, Accell Group, Mobility Holdings Ltd., Derby Cycles, Pon Holdings B.V., Brompton Bicycle Inc. |
This chapter will help you gain GLOBAL Market Analysis of Bicycle. Further deep in this chapter, you will be able to review Global Bicycle Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Bicycle Market Trends North America Bicycle Technological Road Map North America Bicycle Market Drivers North America Bicycle Market Restraints North America Bicycle Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by End-User Analysis 2019 -2031
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Chapter 12 Market Split by Technology Analysis 2019 -2031
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Chapter 13 Market Split by Price Analysis 2019 -2031
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Chapter 14 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bicycle market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Mountain have a significant impact on Bicycle market? |
What are the key factors affecting the Mountain and Road of Bicycle Market? |
What is the CAGR/Growth Rate of Men during the forecast period? |
By type, which segment accounted for largest share of the global Bicycle Market? |
Which region is expected to dominate the global Bicycle Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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