Bicycle Market Expected to Reach USD 108.93 Billion by 2030, Growing at a 7% CAGR

Bicycle Market Report Overview

Market Size & Growth

The global bicycle market was valued at USD 67.83 billion in 2023 and is projected to reach nearly USD 108.93 billion by 2030, growing at a compound annual growth rate (CAGR) of 7% from 2024 to 2030

𝐅𝐨𝐫 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐬𝐭𝐮𝐝𝐲, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤: https://www.stellarmr.com/report/req_sample/Bicycle-Market/179

Market Dynamics

Bicycles, ranging from cargo bikes and electric bikes to mountain bikes, represent an eco-friendly transportation mode. They are widely used for their simplicity and safety. Organizations like Go Out, Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club foster interest in cycling through sporting events, leisure activities, and competitions. This trend is particularly strong in Europe and North America due to iconic events like the Tour de France.

Key Drivers

Increase in Cycling Events: The rise in biking events and the involvement of celebrities in endorsements are driving market growth. For instance, the Irish Sports Council increased its investment in Cycling Ireland from EUR 292,500 in 2015 to EUR 440,000 in 2019.
Technological Advances: Developments in GPS technology and mobile apps have led to dockless bike-sharing systems, further boosting bicycle demand.
Government Initiatives: Governments in various regions are expanding infrastructure to support cycling, promoting it as a viable transportation option.

𝐓𝐨 𝐋𝐞𝐚𝐫𝐧 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐒𝐭𝐮𝐝𝐲, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/req_sample/Bicycle-Market/179

Market Segmentation

By Type:
Cargo electric bike
Non-cargo electric bike
Cargo non-electric bike
Non-cargo non-electric bike
By Product:
Mountain bikes
Road bikes
Hybrid bikes
By End User:
Men
Women
Kids

Regional Insights

Asia-Pacific: Dominating the market with a revenue share of over 33%, this region is expected to grow at a CAGR of over 8% due to the implementation of supportive infrastructure in countries like China, Japan, and Singapore.
Europe: Known for cycling-friendly cities and hosting major events, Europe is poised for significant growth, with countries like Belgium, Denmark, France, and Italy leading the way.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠:https://www.stellarmr.com/report/enquire_now/Bicycle-Market/179

Market Leaders

Accell Group
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Bulls
Pedego Inc.
Benno Bikes LLC
Ribble Cycles
Cervélo
Merida industry co., ltd.
Olympus bikes
Scott sports SA
Specialized bicycle components, Inc.
Kona bicycle company

Trends & Innovations

Urban Arrow: Acquired by Pon.Bike, is a leading manufacturer of electric cargo bikes.
Sparta: Launched a powerful electric bicycle targeting commuters.
Trek Bicycle: Partnered with Bike Exchange to sell products online.

Challenges
While the market is growing, challenges like inadequate cycling infrastructure in developing countries and the high cost of lightweight bicycles may impede growth.

Conclusion

The bicycle market is on an upward trajectory, driven by increasing participation in cycling events, technological advancements, and government initiatives. With substantial growth expected in Asia-Pacific and Europe, the market presents numerous opportunities for stakeholders.

𝐓𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐫𝐞𝐠𝐚𝐫𝐝𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐯𝐢𝐬𝐢𝐭 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐰𝐞𝐛𝐩𝐚𝐠𝐞:https://www.stellarmr.com/report/Bicycle-Market/179

Frequently Asked Questions

What is the CAGR of the Bicycle Market in the forecast period (2024-2030)? The Bicycle Market is expected to grow at a CAGR of 7% from 2024 to 2030.

Which region has the highest growth rate in the Bicycle Market? Asia-Pacific is expected to be the fastest-growing region, with a projected CAGR of over 8%.

Who are the key players in the Bicycle Market? Key players include Accell Group, Trek Bicycle Corporation, Dorel Industries Inc., Pon Holdings BV, and Giant Manufacturing Co. Ltd.

Which technology segment is dominating the Bicycle Market? The conventional bicycle segment dominates the market, with the electric bicycle segment expected to be the fastest-growing due to ease of use and advancements in battery technology.

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