Bicycle Market, By Type (Road/Standard Bicycle, MTB/Racing Bicycle, Kids Bicycle, and E-bikes), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

Bicycle Market accounted for USD 56.6 Billion in 2020 and is estimated to be USD 106.85 Billion by 2030 and is anticipated to register a CAGR of 6.6%.

A bicycle is a pedal-driven, human-powered, single-track vehicle that has two wheels attached to a frame, one behind the other, and a bicycle rider is called a cyclist. It is an eco-friendly and inexpensive way of commuting. Manual pedal bicycles do not require any external fuel source and electric- bicycles are assisted by electric power and have the option to be manually pedals. In addition, bicycles also assist in controlling pollution levels from other transportations and other environmental negative effect. Cycling is a major sustainable mode of transportation, has no dependence on fossil fuels, and has no emissions over the other motorized modes of transport.

Rising adoption of bicycle

Increasing adoption of bicycles due to increasing fuel prices is a key factor propelling growth of the global bicycle market. Growing health concerns and growing adoption of healthy lifestyle are factors fueling growth of the global bicycle market. In addition, increasing air pollution, government initiatives to promote safe and eco-friendly mode of transportation and increased expenditure for infrastructure development on cycle networks are expected to fuel growth of the global bicycle market. Furthermore, better quality of life, cost savings, and increasing preference among adults is resulting in increasing preference for bicycle in developed countries and supporting growth of the target market. Moreover, growing demand for sport bicycles among cycling athletes is also important factor expected to support growth of the global bicycle market over the forecast period.

However, high cost of raw materials is major factor expected to hamper growth of the global bicycle market. Increasing preference for technologically advanced walking equipment such as self-balancing scooter is expected to challenge growth of the global bicycle market to certain extent in the coming years. Continues innovation and research activities by manufacturers in bicycles are expected to create new lucrative opportunities for players operating in the global bicycle market.

Bicycle Market is segmented based on type, and region.

On the basis of type, the global bicycle market is segmented into road/standard bicycle, MTB/racing bicycle, kids’ bicycle, and e-bikes. and research.

Regional Insights:

On region the global bicycle market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the global market. The market in Asia Pacific is expected to account for major revenue share in global bicycle market, followed by markets in another region. Presence of well-established bicycles brands in the country in the region. Increasing eco-friendly approach towards transportation and increasing government initiatives to promote cycling as safe mode of transportation, and presence of prominent players operating in countries such as India, Japan and China are some major factors expected to support growth of the Asia Pacific market over the forecast period. North America bicycle market accounted for second-highest market share in the global market followed by Europe. 

Report Scope:

Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global bicycle market report based on type, and region.

Global Bicycle Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the global bicycle market includes Derby Cycle Corporation, shimano Giant Manufacturing Co. Ltd., Fuji Corporation, Cannondale Corp., Atlas Group, Accell Group N.V., BSA Limited, Hercules Cycles, Hero Cycles Limited, Dorel Industries Inc., and Merida Industry Co. Ltd. Technological advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global bicycle market.

• Derby Cycle Corporation
• Shimano Giant Manufacturing Co. Ltd.
• Fuji Corporation
• Cannondale Corp.
• Atlas Group
• Accell Group N.V.
• BSA Limited
• Hercules Cycles
• Hero Cycles Limited
• Dorel Industries Inc.
• Merida Industry Co. Ltd.