Bicycle Market Forecast: Expected to Grow to USD 135.63 Billion by 2030 with 9.8% CAGR

The global bicycle market is experiencing an unprecedented surge, with the market size reaching a valuation of USD 70.49 billion in 2023. The market is projected to grow at a robust CAGR of 9.8% from 2023 to 2030, propelling its value to nearly USD 135.63 billion by the end of the forecast period.

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The bicycle market is undergoing a transformative shift, driven by a growing global emphasis on sustainable and health-conscious lifestyles. As individuals increasingly prioritize eco-friendly and health-oriented modes of transportation, the demand for bicycles has seen a significant uptick. This shift is not merely a trend but a movement towards a more sustainable and health-conscious society.

The COVID-19 pandemic further accelerated this trend, highlighting the importance of safety, social distancing, and outdoor activities. Bicycles, being an accessible, environmentally friendly, and enjoyable mode of transportation, have become increasingly popular among urban dwellers and fitness enthusiasts alike. Governments around the world are also playing a pivotal role in this growth by implementing policies and initiatives that encourage cycling. These initiatives, coupled with the development of cycling infrastructure, are making bicycles a preferred mode of transport.

One of the most notable developments in the bicycle market is the rapid growth of the electric bicycle (e-bike) segment. E-bikes combine the benefits of traditional bicycles with electric assistance, offering an enhanced cycling experience that is both efficient and environmentally friendly. Advancements in battery technology have made e-bikes more affordable and accessible, contributing to their rising popularity.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐋𝐢𝐧𝐤 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/request-sample/20033/

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

𝐀𝐈 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐢𝐳𝐢𝐧𝐠 𝐂𝐲𝐜𝐥𝐢𝐧𝐠: 𝐀 𝐍𝐞𝐰 𝐄𝐫𝐚 𝐨𝐟 𝐒𝐚𝐟𝐞𝐭𝐲 𝐚𝐧𝐝 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞

Artificial intelligence (AI) is increasingly making its presence felt in the cycling industry, particularly in enhancing safety and performance. The formation of the 'Coalition for Cyclist Safety' in 2023 by leading brands like BMC, Bosch, Shimano, and Trek marks a significant step towards safer cycling. This coalition is leveraging V2X technology to improve road safety for cyclists. V2X, which enables communication between vehicles, infrastructure, and now bicycles, facilitates the exchange of critical information such as traffic conditions and potential hazards.

Canyon, a renowned bicycle manufacturer, has announced plans to integrate this technology into select e-bikes by 2026. These e-bikes will feature advanced warning systems for nearby cyclists and interventions to prevent accidents, such as stopping motorists from opening car doors when a cyclist is passing. The integration of AI into professional cycling is also gaining traction, with teams like Jumbo-Visma utilizing AI to optimize dietary plans during events like the Tour de France. As AI continues to evolve, its impact on cycling is expected to expand, revolutionizing safety measures and performance enhancement techniques across the industry.

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 𝐭𝐨 𝐁𝐨𝐥𝐬𝐭𝐞𝐫 𝐂𝐲𝐜𝐥𝐢𝐧𝐠 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞

Governments worldwide are increasingly prioritizing the development of cycling infrastructure as part of broader efforts to address environmental concerns, improve public health, and enhance urban mobility. Promoting cycling aligns with global goals to reduce carbon emissions and combat air pollution, addressing critical climate change issues.

Investments in cycling infrastructure also promote public health by encouraging physical activity, which can help reduce healthcare costs associated with lifestyle-related diseases such as obesity and cardiovascular issues. Moreover, cycling infrastructure enhances urban mobility by reducing traffic congestion and reliance on fossil fuels. This shift offers a cost-effective transportation alternative, especially in densely populated urban areas.

In addition to these benefits, fostering a bicycle-friendly environment can stimulate economic growth by boosting cycling-related tourism, supporting local businesses catering to cyclists, and creating jobs in infrastructure development and bicycle manufacturing. The focus on building cycling infrastructure thus serves as a multifaceted strategy that addresses environmental, public health, urban mobility, and economic development goals, driving the growth of the bicycle market while promoting sustainable and healthy living.

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐏𝐨𝐬𝐞𝐝 𝐛𝐲 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬

Despite the growing popularity of bicycles, the availability of alternative transport solutions poses a significant challenge to the market's growth. Buses, trains, cars, and other modes of transport offer advantages such as faster travel times, greater comfort, and all-weather usability, making them more appealing to some consumers. Safety and comfort concerns also play a role, as many perceive cycling as less safe, especially in areas with heavy traffic or inadequate cycling lanes.

Trade restrictions on bicycle components and accessories across different countries further hinder the market's growth by disrupting supply chains and increasing costs. E-bikes, while gaining popularity, face additional challenges due to their higher cost compared to traditional scooters or motorbikes. The expense of e-bike batteries and technology, coupled with a lack of charging facilities, limits their market growth.

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

𝐇𝐞𝐚𝐥𝐭𝐡 𝐂𝐨𝐧𝐬𝐜𝐢𝐨𝐮𝐬𝐧𝐞𝐬𝐬 𝐚𝐬 𝐚 𝐂𝐚𝐭𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧

The rising global awareness of health and wellness presents a lucrative growth opportunity for the bicycle market. As more individuals prioritize their health, there is an increasing demand for wellness-related products and services. This trend is driving growth in the bicycle market, as consumers seek out bicycles as a means of improving their physical health and overall well-being.

Bicycle companies that tap into this trend by offering innovative, health-oriented solutions are well-positioned to benefit from the growing market demand. By addressing the needs of health-conscious consumers through personalized and holistic offerings, businesses can capitalize on the shifting consumer preferences towards wellness and sustainability.

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭

Mountain Bikes
Hybrid Bikes
Road Bikes
Cargo Bikes
Others

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭: 𝐑𝐨𝐚𝐝 𝐁𝐢𝐜𝐲𝐜𝐥𝐞𝐬 𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐭𝐡𝐞 𝐂𝐡𝐚𝐫𝐠𝐞

In 2023, road bicycles dominated the product segment of the bicycle market. These bicycles are prized for their versatility, efficiency, and popularity among cyclists of all levels. Designed for speed and performance on paved surfaces, road bicycles are ideal for commuting, fitness, racing, and long-distance rides. Technological advancements in materials and design have further enhanced their appeal, making them the go-to choice for a wide range of cycling activities.

The increasing emphasis on health and fitness, coupled with the growing popularity of cycling as a recreational and competitive sport, has further fueled the demand for road bicycles. The accessibility of road cycling events and the rise of cycling communities have also contributed to the dominance of this segment in the market.

𝐛𝐲 𝐃𝐞𝐬𝐢𝐠𝐧

Folding
Regular

𝐃𝐞𝐬𝐢𝐠𝐧 𝐒𝐞𝐠𝐦𝐞𝐧𝐭: 𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐁𝐢𝐜𝐲𝐜𝐥𝐞𝐬 𝐚𝐭 𝐭𝐡𝐞 𝐅𝐨𝐫𝐞𝐟𝐫𝐨𝐧𝐭

In the design segment, regular bicycles held the leading position in 2023, thanks to their versatility, simplicity, and widespread appeal. Regular bicycles cater to a broad audience, from casual riders to commuters and enthusiasts, providing a reliable and familiar mode of transportation and recreation.

Advancements in material technology and manufacturing processes have improved the performance and comfort of regular bicycles, further solidifying their dominance in the market. Their enduring popularity is attributed to their ability to meet the diverse needs of consumers without the complexity or niche focus of specialized designs.

𝐛𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲

Electric
Conventional
by End-User Men
Women
Kids

𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

Online
Offline

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 (𝐓𝐨 𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 [𝐒𝐮𝐦𝐦𝐚𝐫𝐲 + 𝐓𝐎𝐂]) : https://www.maximizemarketresearch.com/request-sample/20033/

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

North America
1. Specialized Bicycle Components, Inc.
2. Yeti Cycles
3. Kent Outdoors
4. Pivot Cycles
5. Intense Cycles
6. Diamondback Bicycles
7. Matthews Bicycle
8. LeMond
9. W.A.R Bikes

Europe
10. Origine Cycles
11. Pierer Mobility
12. Canyon Bicycles
13. Brompton Bicycle
14. Moustache Bikes
15. Colnago
16. Cross
17. Econic One
18. Pelago Bicycles

APAC
19. La Bicycle
20. Merida Industry Co., Ltd.
21. Hero Cycles Ltd.
22. BSA Cycles Ltd.
23. KHS Bicycles
24. Velotric Bike

South America
25. Ossby
26. Sense Bike
27. Oggi Bikes
28. Groove Bikes

𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬: 𝐖𝐡𝐨'𝐬 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐢𝐧𝐠 𝐭𝐡𝐞 𝐇𝐢𝐠𝐡𝐞𝐬𝐭 𝐆𝐫𝐨𝐰𝐭𝐡??

𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜: 𝐓𝐡𝐞 𝐄𝐩𝐢𝐜𝐞𝐧𝐭𝐞𝐫 𝐨𝐟 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The Asia Pacific region emerged as the dominant force in the global bicycle market in 2023. With its large population, particularly in countries like China and India, the region represents a vast consumer base for bicycles. According to an MMR study, Asia and the Pacific region is home to 60 percent of the world's population, including the most populous countries, China and India.

The region's status as a manufacturing hub for bicycles, driven by lower production costs and established supply chains, enables manufacturers to produce bicycles at competitive prices for both domestic and international markets. Cultural factors also play a significant role, as cycling is deeply ingrained in the daily lives of many people in the region. Government initiatives promoting cycling infrastructure and efforts to combat pollution and congestion have further propelled the bicycle market in the Asia Pacific region. The combination of population size, manufacturing capabilities, cultural affinity, and government support has positioned the Asia Pacific region as a leader in the global bicycle market.

𝐂𝐡𝐞𝐜𝐤 𝐎𝐮𝐭 𝐚 𝐁𝐫𝐢𝐞𝐟 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.maximizemarketresearch.com/market-report/global-bicycle-market/20033/

𝐊𝐞𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐬𝐰𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞:

What is Bicycle?
What is the growth rate of the Bicycle Market?
Who are the key players in the Bicycle market?
Who are the leading companies and what are their portfolios in Bicycle Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Bicycle Market?
Which are the factors expected to drive the Bicycle market growth?
What are the different segments of the Bicycle Market?
What growth strategies are the players considering to increase their presence in Bicycle?
What are the upcoming industry applications and trends for the Bicycle Market?

𝐊𝐞𝐲 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by Different Segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
𝐋𝐨𝐨𝐤 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐎𝐮𝐫 𝐌𝐨𝐬𝐭 𝐏𝐨𝐩𝐮𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

• Global Programmable DC Power Supply Market https://www.maximizemarketresearch.com/market-report/global-programmable-dc-power-supply-market/108367/

• Latin America Temperature Sensor Market https://www.maximizemarketresearch.com/market-report/latin-america-temperature-sensor-market/4680/

• Global Green Manufacturing in Electronics Market https://www.maximizemarketresearch.com/market-report/global-green-manufacturing-in-electronics-market/87125/

• Global Trench Gate Power MOSFET Market https://www.maximizemarketresearch.com/market-report/global-trench-gate-power-mosfet-market/89685/

• Global Multilayer Varistors Market https://www.maximizemarketresearch.com/market-report/global-multilayer-varistors-market/90312/

• Latin America Gas Sensor Market https://www.maximizemarketresearch.com/market-report/latin-america-gas-sensor-market/5721/

• Global Cap Liner Market https://www.maximizemarketresearch.com/market-report/global-cap-liner-market/25536/

• Global Reusable Food Wrap Market https://www.maximizemarketresearch.com/market-report/global-reusable-food-wrap-market/111423/

• Global Away from Home Tissue Products Market https://www.maximizemarketresearch.com/market-report/global-away-from-home-tissue-products-market/52791/

• Global Fully Automatic Vending Machines Market https://www.maximizemarketresearch.com/market-report/global-fully-automatic-vending-machines-market/44390/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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