Base Year
Historical Year
Forecast Year
The global bicycle market attain a value of USD 76.7 billion in 2023. The market is expected to grow at a CAGR of 6.6% in the forecast period of 2024-2032 to reach a value of USD 136.5 billion by 2032.
| Global Bicycle Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 76.7 |
| Market Size 2032 | USD Billion | 136.5 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 6.6% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 8.5% |
| CAGR 2024-2032 - Market by Country | India | 9.8% |
| CAGR 2024-2032 - Market by Country | Brazil | 8.2% |
| CAGR 2024-2032 - Market by Technology | Electric | 7.4% |
| CAGR 2024-2032 - Market by End User | Men | 7.5% |
| Market Share by Country 2023 | India | 3.4% |
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The global bicycle market is stimulated by the rising urbanisation, due to which there is growing traffic congestion. Therefore, people are increasingly adopting bicycles to avoid traffic jams and get to their destination faster as compared to bigger vehicles. With the rising traffic jams, the market for bicycles is expected to increase during the forecast period.
The Asia Pacific region is actively supporting the growth of the global bicycle market as the regional market is growing at a robust pace. Countries such as China, India, Australia, Japan, and South Korea are the significant contributors to the market growth. These countries have started hosting several tournaments, which are expected to enhance the popularity and demand for sports bicycles. Moreover, factors, such as an increase in the women’s participation rate and favourable government schemes, are expected to strengthen the market growth of bicycles in the region. As a result of increased demand, the market is witnessing industry development of innovative bicycles and accessories, which will further the industry growth in the forecast period.
Bicycle is a vehicle that aids in reducing pollution and is extensively promoted by organisations as an environment-friendly transport.
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On the basis of product, the market is divided into:
By price, the market is segmented into:
Based on technology, the market is bifurcated into:
By end user, the market is segmented into:
Based on technology, the industry is bifurcated into electric and conventional. By end uses, the industry is segmented into men, women, and kids. The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
| CAGR 2024-2032 - Market by | Country |
| India | 9.8% |
| China | 8.2% |
| Brazil | 8.2% |
| Mexico | 7.0% |
| Australia | 5.8% |
| Japan | 5.1% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Saudi Arabia | XX% |
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The global bicycle market is driven by the rising awareness as well as concern about fitness, resulting in the boom of bicycle sales as they offer a great alternative for transport with the benefit of fit and healthy lifestyle. The industry is further expected to be driven by the introduction of e-bicycles. The demand for e-bicycles is gaining momentum and is expected to become mainstream in the forecast period. The e-bicycles are equipped to manage the overall speeds more effectively, as a result providing comfortable driving experience to the rider in mountain areas, overpasses, and tough roads. Thereby further enhancing the market growth for the product.
The report gives a detailed analysis of the following key players in the global bicycle market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Price |
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| Breakup by Technology |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global bicycle market attained a value of nearly USD 76.7 billion.
The market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 136.5 billion by 2032.
The major drivers of the industry, such as rising disposable incomes, rapid urbanisation, growing population, rising traffic congestion, growing fitness awareness, and rising biking competitions, are expected to aid the market growth.
The key trends guiding the growth of the bicycle market include the rising launch and adoption of e-bicycles.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading products in the market are mountain bicycles, hybrid bicycles, and road bicycles, among others.
The major price segments of the product in the industry are premium, mid-range, and low range.
The significant end uses in the industry are men, women, and kids.
The major players in the industry are Accell Group, Cycling Sports Group, LLC, Avon Cycles Limited, Giant Bicycles, Merida Industry Co., Ltd., SCOTT Sports SA, Trek Bicycle Corporation, Hero Cycles, Santa Cruz Bicycles, LLC, and Marin Mountain Bikes Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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