Bicycle Market Size to Surpass US$ 180 Billion by 2030

The global bicycle market is projected to surpass US$ 180 billion by 2030 from US$ 101.99 billion in 2022 and expand growth at a CAGR of 7.36% from 2022 to 2030.

Key Takeaways

• The global bicycle market value is expected to reach US$ 180 billion by 2030.
• Asia Pacific bicycle market was valued at US$ 17.69 billion in 2021.
• By technology, the conventional segment accounted for 80% of the revenue share in 2021.
• The electric bike segment is expected to grow at the highest CAGR of 10.3% from 2022 to 2030.
• By product, the road bicycle segment captured a market share of 40% in 2021.
• The online distribution channel accounted for 50% of the market share in 2021.
• Europe is expected to grow at a CAGR of 10.5% from 2022 to 2030.
• More than 1.9 billion adults were overweight in 2016.

What are the key trends in the Global Bicycle Market?

Rise in the number of cycling events is a major trend in the market which is expected to accelerate the growth of the market during the forecast period. For instance, Cycling Ireland is an event that promotes leisure cycling, racing, and touring. Irish Sports Council stated that Sport Ireland made an investment of EUR 440 thousand in 2019 towards Cycling Ireland. This event promotes the adoption of cycling among the population in Ireland. Furthermore, the rising media coverage and celebrity endorsements are significantly influencing the population to indulge in cycling for its health benefits and fitness. Therefore, the rising awareness among the population regarding the advantages of cycling and rising number of cycling events across the globe are the major trends that are expected to drive the growth of the global bicycle market in the foreseeable future.

What are the key challenges in the Global Bicycle Market?

The rising number of road traffic accidents in the big market like Asia Pacific and the lack of bicycle-friendly infrastructure in several nations are the major challenges faced by the manufacturers that may restrict the adoption of the bicycles among the people. According to the World Health Organization, around 93% of the road accidents occur in the low and middle income countries. Furthermore, the availability of alternatives to commute and various other mediums to indulge in fitness activities may hamper the adoption of the bicycles. The youth population are more inclined towards the gyms and fitness centers to stay active and fit and may refrain themselves from indulging in cycling activities, which may hamper the growth of the bicycle market during the forecast period.

Report Scope of the Bicycle Market

Approximately 30% of the Global Bicycle Market Captured by Asia Pacific

Asia Pacific is the home to the largest population of the globe. The presence of huge consumer base, rising health awareness, growing obese population, rising disposable income, presence of several leading manufacturers of bicycles, and rising government expenditure towards the development of bicycle-friendly infrastructure are the prominent drivers of the bicycle market in Asia Pacific region. The nations like Japan, Singapore, and China are aggressively investing in building the infrastructure to promote bicycle commutation for short distances. Furthermore, the growing adoption of the electric bicycles among the people for its convenience and easy commute for long distances is boosting the demand for the electric bicycles. The rising popularity of the dockless bicycle sharing systems in the Asia Pacific region is expected to further fuel the growth of the market during the forecast period. The rising awareness among the population to stay healthy, active, and fit is boosting the adoption of bicycles as a convenient form of leisure activity and exercise. Therefore, the Asia Pacific bicycle market is expected to remain dominant throughout the forecast period.

Europe Forecast the Strongest Growth Rate of 10.5% during the Forecast Year (2022-2030)

The increased awareness among the European population regarding the benefits of cycling is driving the growth of the bicycle market. The rising popularity of cycling as sports and growing number of cycling events in the region is expected to foster the market growth. The events like Ronde van Vlaanderenare and Tour de France are the most popular cycling events in Europe. The countries like France, Italy, Denmark, and Belgium are heavily investing in the development of cycling infrastructure which is expected to boost the demand for the bicycles in Europe in the upcoming future.

Read More: Hybrid Vehicle Market Size to Worth USD 5006.35 Bn by 2032

Key Market Developments

• In June 2019, Trek Bicycle Corporation launched Madone SLR 6 Disc Speed, which is integrated with removable aero bars and it facilitates commute in hilly areas.

Some of the prominent players in the global bicycle market include:

• Trek Bicycle Corporation
• Accell group
• SCOTT Sports SA
• Atlas Cycles Ltd.
• Specialized Bicycles Components, Inc.
• Avon Cycles Ltd.
• Merida Industry Co. Ltd.
• Cervelo
• Giant Bicycles
• Dorel Industries Inc.

Market Segmentation

By Product

• Hybrid Bikes
• Mountain Bikes
• Cargo Bikes
• Road Bikes
• All Terrain Bicycle
• E-bicycle
• Others

By Technology

• Conventional
• Electric

By Distribution Channel

• Online
• Offline

By End User

• Men
• Women
• Kids

By Price

• Premium
• Mid Range
• Low Range

By Geography

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

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Bicycle Market 

5.1. COVID-19 Landscape: Bicycle Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Bicycle Market, By Product Type

8.1. Bicycle Market, by Product Type, 2022-2030

8.1.1. Hybrid Bikes

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Mountain Bikes

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Cargo Bikes

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Road Bikes

8.1.4.1. Market Revenue and Forecast (2017-2030)

8.1.5. All Terrain Bicycle

8.1.5.1. Market Revenue and Forecast (2017-2030)

8.1.6. E-bicycle

8.1.6.1. Market Revenue and Forecast (2017-2030)

8.1.7. Others

8.1.7.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Bicycle Market, By Distribution Channel Type

9.1. Bicycle Market, by Distribution Channel Type, 2022-2030

9.1.1. Online

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Offline

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Bicycle Market, By Technology Type 

10.1. Bicycle Market, by Technology Type, 2022-2030

10.1.1. Conventional

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Electric

10.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Bicycle Market, By End User Type

11.1. Bicycle Market, by End User Type, 2022-2030

11.1.1. Men

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Women

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. Kids

11.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Bicycle Market, By Price Type

12.1. Bicycle Market, by Price, 2022-2030

12.1.1. Premium

12.1.1.1. Market Revenue and Forecast (2017-2030)

12.1.2. Mid Range

12.1.2.1. Market Revenue and Forecast (2017-2030)

12.1.3. Low Range

12.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 13. Global Bicycle  Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Forecast, by Product (2017-2030)

13.1.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.1.3. Market Revenue and Forecast, by Technology (2017-2030)

13.1.4. Market Revenue and Forecast, by End User (2017-2030)

13.1.5. Market Revenue and Forecast, by Price (2017-2030)

13.1.6. U.S.

13.1.6.1. Market Revenue and Forecast, by Product (2017-2030)

13.1.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.1.6.3. Market Revenue and Forecast, by Technology (2017-2030)

13.1.6.4. Market Revenue and Forecast, by End User (2017-2030)

13.1.7. Market Revenue and Forecast, by Price (2017-2030)

13.1.8. Rest of North America

13.1.8.1. Market Revenue and Forecast, by Product (2017-2030)

13.1.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.1.8.3. Market Revenue and Forecast, by Technology (2017-2030)

13.1.8.4. Market Revenue and Forecast, by End User (2017-2030)

13.1.8.5. Market Revenue and Forecast, by Price (2017-2030)

13.2. Europe

13.2.1. Market Revenue and Forecast, by Product (2017-2030)

13.2.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.2.3. Market Revenue and Forecast, by Technology (2017-2030)

13.2.4. Market Revenue and Forecast, by End User (2017-2030)

13.2.5. Market Revenue and Forecast, by Price (2017-2030)

13.2.6. UK

13.2.6.1. Market Revenue and Forecast, by Product (2017-2030)

13.2.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.2.6.3. Market Revenue and Forecast, by Technology (2017-2030)

13.2.7. Market Revenue and Forecast, by End User (2017-2030)

13.2.8. Market Revenue and Forecast, by Price (2017-2030)

13.2.9. Germany

13.2.9.1. Market Revenue and Forecast, by Product (2017-2030)

13.2.9.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.2.9.3. Market Revenue and Forecast, by Technology (2017-2030)

13.2.10. Market Revenue and Forecast, by End User (2017-2030)

13.2.11. Market Revenue and Forecast, by Price (2017-2030)

13.2.12. France

13.2.12.1. Market Revenue and Forecast, by Product (2017-2030)

13.2.12.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.2.12.3. Market Revenue and Forecast, by Technology (2017-2030)

13.2.12.4. Market Revenue and Forecast, by End User (2017-2030)

13.2.13. Market Revenue and Forecast, by Price (2017-2030)

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Forecast, by Product (2017-2030)

13.2.14.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.2.14.3. Market Revenue and Forecast, by Technology (2017-2030)

13.2.14.4. Market Revenue and Forecast, by End User (2017-2030)

13.2.15. Market Revenue and Forecast, by Price (2017-2030)

13.3. APAC

13.3.1. Market Revenue and Forecast, by Product (2017-2030)

13.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.3.3. Market Revenue and Forecast, by Technology (2017-2030)

13.3.4. Market Revenue and Forecast, by End User (2017-2030)

13.3.5. Market Revenue and Forecast, by Price (2017-2030)

13.3.6. India

13.3.6.1. Market Revenue and Forecast, by Product (2017-2030)

13.3.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.3.6.3. Market Revenue and Forecast, by Technology (2017-2030)

13.3.6.4. Market Revenue and Forecast, by End User (2017-2030)

13.3.7. Market Revenue and Forecast, by Price (2017-2030)

13.3.8. China

13.3.8.1. Market Revenue and Forecast, by Product (2017-2030)

13.3.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.3.8.3. Market Revenue and Forecast, by Technology (2017-2030)

13.3.8.4. Market Revenue and Forecast, by End User (2017-2030)

13.3.9. Market Revenue and Forecast, by Price (2017-2030)

13.3.10. Japan

13.3.10.1. Market Revenue and Forecast, by Product (2017-2030)

13.3.10.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.3.10.3. Market Revenue and Forecast, by Technology (2017-2030)

13.3.10.4. Market Revenue and Forecast, by End User (2017-2030)

13.3.10.5. Market Revenue and Forecast, by Price (2017-2030)

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Forecast, by Product (2017-2030)

13.3.11.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.3.11.3. Market Revenue and Forecast, by Technology (2017-2030)

13.3.11.4. Market Revenue and Forecast, by End User (2017-2030)

13.3.11.5. Market Revenue and Forecast, by Price (2017-2030)

13.4. MEA

13.4.1. Market Revenue and Forecast, by Product (2017-2030)

13.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.4.3. Market Revenue and Forecast, by Technology (2017-2030)

13.4.4. Market Revenue and Forecast, by End User (2017-2030)

13.4.5. Market Revenue and Forecast, by Price (2017-2030)

13.4.6. GCC

13.4.6.1. Market Revenue and Forecast, by Product (2017-2030)

13.4.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.4.6.3. Market Revenue and Forecast, by Technology (2017-2030)

13.4.6.4. Market Revenue and Forecast, by End User (2017-2030)

13.4.7. Market Revenue and Forecast, by Price (2017-2030)

13.4.8. North Africa

13.4.8.1. Market Revenue and Forecast, by Product (2017-2030)

13.4.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.4.8.3. Market Revenue and Forecast, by Technology (2017-2030)

13.4.8.4. Market Revenue and Forecast, by End User (2017-2030)

13.4.9. Market Revenue and Forecast, by Price (2017-2030)

13.4.10. South Africa

13.4.10.1. Market Revenue and Forecast, by Product (2017-2030)

13.4.10.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.4.10.3. Market Revenue and Forecast, by Technology (2017-2030)

13.4.10.4. Market Revenue and Forecast, by End User (2017-2030)

13.4.10.5. Market Revenue and Forecast, by Price (2017-2030)

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Forecast, by Product (2017-2030)

13.4.11.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.4.11.3. Market Revenue and Forecast, by Technology (2017-2030)

13.4.11.4. Market Revenue and Forecast, by End User (2017-2030)

13.4.11.5. Market Revenue and Forecast, by Price (2017-2030)

13.5. Latin America

13.5.1. Market Revenue and Forecast, by Product (2017-2030)

13.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.5.3. Market Revenue and Forecast, by Technology (2017-2030)

13.5.4. Market Revenue and Forecast, by End User (2017-2030)

13.5.5. Market Revenue and Forecast, by Price (2017-2030)

13.5.6. Brazil

13.5.6.1. Market Revenue and Forecast, by Product (2017-2030)

13.5.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.5.6.3. Market Revenue and Forecast, by Technology (2017-2030)

13.5.6.4. Market Revenue and Forecast, by End User (2017-2030)

13.5.7. Market Revenue and Forecast, by Price (2017-2030)

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Forecast, by Product (2017-2030)

13.5.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)

13.5.8.3. Market Revenue and Forecast, by Technology (2017-2030)

13.5.8.4. Market Revenue and Forecast, by End User (2017-2030)

13.5.8.5. Market Revenue and Forecast, by Price (2017-2030)

Chapter 14. Company Profiles

14.1. Trek Bicycle Corporation

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. Accell group

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. SCOTT Sports SA

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Atlas Cycles Ltd.

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. Specialized Bicycles Components, Inc.

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Avon Cycles Ltd.

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. Merida Industry Co. Ltd.

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. Cervelo

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Giant Bicycles

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. Dorel Industries Inc.

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

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