The Bicycle Market was valued at approximately USD 82.6 billion in 2024 and is expected to grow at a substantial CAGR of around 9.5% during the forecast period (2025-2033), owing to the surge in e-bike popularity.

A bicycle is considered as an eco-friendly mode of transportation, available in range of varieties such as cargo bikes, electric bikes, and mountain bikes. Bicycle is simple to operate, good for health and considered as safest mode of transport. Bicycle market is gaining traction due to hosting of various sports activities, fun activities, bike rallies. In addition, increasing urban road congestion, rising awareness among the population regarding the health benefits and rising trend of mountain trekking are driving the growth of the market. For instance, In July 2021, Trek Bicycle announced the establishment of the Trek Foundation. This established foundation will support public mountain bike trail development and Cycling infrastructure projects

The Seat Belt Retractor Market is expected to grow at a steady rate of around 6% owing to the growing environmental concern among the populace. The growing concern about the safety of environment is also considered as the driving factor of the market.

Based on type, the market is segmented into mountain bikes, hybrid bikes, road bikes, cargo bikes and others. The hybrid held largest share of market in 2020 and is expected to dominate the market throughout the forecast period. A hybrid bicycle is basically a mix of mountain and road bike. The factors such as being highly suitable for urban road transport, the growing popularity of adventure sports, hiking activities, and recreational activities are driving the growth of the market.

Based on the technology, the market is categorized into electric and conventional. Among these, the electric to grow with higher CAGR during forecast period. The declining battery prices and government initiatives to promote green mobility and the increasing number of tax benefits and subsidies on the purchase of e-bikes worldwide are driving the growth of the segment. For instance, the cost of lithium-ion batteries witnessed an 85% drop in the past decade.

Based on distribution channel, the market has been classified into online and offline. The offline category is to witness higher CAGR during the forecast period. The segment is expected to rise as more consumers believe to physically check the quality before buying bikes, increasing number of offline stores, provides different varieties of bikes. Hence, these are the factors driving the growth of the market. For instance, in November 2021, BLive announced its foray into offline multi-brand retail segment with the launch of a facility in Hyderabad and said that it is looking to roll out over 100 such stores in the next three years.

APAC to held significant share of the market

For a better understanding of the market adoption of the bicycle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC to grow with high CAGR during forecast period. One of the main forms of transportation in developing Asian nations is cycling. In Asia Pacific, China held the largest market share. The region's market is expanding due to China's high e-bike demand. Additionally, it is projected that the market growth in the next years would be influenced by the rising popularity of bike-sharing services in China as a substitute for public transportation. In addition, the inclination for cycling among Indian urban dwellers, particularly those in Mumbai, Delhi, and other cities, is projected to boost market expansion in the area.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Bicycle market are Giant Bicycles, Trek Bicycle Corporation, Kalkhoff Werke, Brompton Bicycle Ltd, Avon Cycles Ltd., Kona Bikes, Accell Group, TII, Dorel Industries, and MERIDA BIKES

“Global Bicycle Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

Market Segmentation:

1.      By Type (Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes and Others)

2.      By Technology Type (Electric and Conventional)

3.      By End-Users (Men, Women, and Kids)

4.      By Distribution Channel (Online and Offline)

5.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.      By Company (Giant Bicycles, Trek Bicycle Corporation, Kalkhoff Werke, Brompton Bicycle Ltd, Avon Cycles Ltd., Kona Bikes, Accell Group, TII, Dorel Industries, and MERIDA.)

Key questions answered in the study:

1.      What are the current and future trends of the global bicycle industry?

2.      How the industry has been evolving in terms of type, technology, end-users and distribution channel?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global bicycle industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global bicycle suppliers across various region and countries?

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