Bicycle Market by Product (Cargo Bikes, Hybrid Bikes, Mountain Bikes), Technology (Conventional, Electric), Design, Distribution Channel, End-user - Global Forecast 2024-2030

Bicycle Market by Product (Cargo Bikes, Hybrid Bikes, Mountain Bikes), Technology (Conventional, Electric), Design, Distribution Channel, End-user - Global Forecast 2024-2030

The Bicycle Market size was estimated at USD 70.64 billion in 2023 and expected to reach USD 76.31 billion in 2024, at a CAGR 8.30% to reach USD 123.48 billion by 2030.

The bicycle encompasses vehicles with two wheels that cover a range of products, including traditional bicycles, electric bicycles, bike components, and related accessories, as well as services such as bicycle rentals, repairs, and maintenance. Increasing environmental awareness worldwide is driving demand for eco-friendly transportation, including transportation. A rising focus on health and fitness is fueling the popularity of recreational cycling, driving the growth of the market. Urbanization and congestion issues have further positioned bicycles as a convenient mode of transportation. Infrastructure limitations and safety concerns associated with bicycles hamper the market growth. The continuous emergence of e-bikes and advancements in design that allow market players to meet evolving consumer preferences are expected to drive the growth of the bicycle market. Additionally, the integration of smart technologies in bicycles presents opportunities for continued market expansion of the bicycle market.

Regional Insights

America showcases the developed landscape for the bicycle market, the significant growth supported by the developed nations, including the U.S. and Canada, followed by Mexico, Brazil, and Argentina. The attributes such as rising interest and expenditure in outdoor adventure activities, cycling events held across the region, focus towards health & fitness, and government support with the aim of sustainability play a vital role in fueling the American bicycle market growth. The bicycle market in the Asia-Pacific region is rapidly growing with the number of cycling tournaments and increasing demand for bicycles by sports enthusiasts. The number of individuals opting for sports bikes has surged in recent years due to the elevating awareness regarding the health benefits of cycling and its ease of operation in strenuous terrains in Asia-Pacific. The bicycles' environmentally friendly nature, lower operational cost, and health benefits have bolstered their adoption in the EMEA. The governments promote bicycles in the region as they are eco-friendly and can help reduce carbon emissions. Cycling policies in the EU, the Sustainable Transport Programme in Egypt, investment strategies for developing cycling infrastructure, and incentives and purchase premiums provided for buyers boost sports bicycle adoption.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Bicycle Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing health consciousness among the population
• Rising demand for sports bicycles from hobbyists and sportspersons
• Increased availability of branded bicycles on regional and online sales channels

Market Restraints

• Fluctuating cost of raw materials associated with bicycle

Market Opportunities

• Continuous advancements in the development of novel bicycles
• Growing improvements in government infrastructure for bicycle riding

Market Challenges

• Risk factors with bicycle and growing product recall

Market Segmentation Analysis

• Product: Growing adoption of hybrid bikes for commuting and recreational riding
• Technology: Rising preference for electric bicycles with the rising advancements in battery technology
• Distribution Channel: Growing purchase of bicycles from online channels due to the convenience of shopping
• End-User: Rising adoption of bicycles song men with the rising public interest in sustainable transportation

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Bicycle Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Bicycle Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Yamaha Bicycles Launches All-New E-commerce Platform

Yamaha Motor Corporation has introduced an e-commerce platform, allowing customers to conveniently purchase their new Yamaha Power Assist Bicycle online and pick it up at their nearest participating Yamaha Bicycle dealer. Through this digital transformation, Yamaha aims to enhance customer experience by providing exceptional service for customers to explore and select their perfect ride.

BLive Launches Astra – A Brand New E-Cycle By Reliance

BLive Launches Astra –India's multi-brand EV platform, has recently introduced Astra, a new e-cycle brand by Reliance, offering a premium e-cycle featuring a welded frame and branded components. With a diverse range of 13 different models, Astra caters to the needs of various cyclists, ranging from urban commuters to off-road adventurers.

MYBYK Launches Two Electric Bicycle Models, MYBYK Electric And MYBYK Electric Cargo

MYBYK has launched two electric bicycle variants - MYBYK Electric and MYBYK Electric Cargo. These purpose-built, indigenous electrically-powered bicycles aim to enhance citizens' and tourists' first and last-mile connectivity, as well as facilitate delivery for gig workers. With its PowerPedalTM mode, users can experience a reduction in effort by up to 80%. This makes it an ideal choice for those looking for an efficient and effortless mode of transportation.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Bicycle Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Bicycle Market, highlighting leading vendors and their innovative profiles. These include Accell Group B.V., Alta Cycling Group, Avon Cycles Ltd., Cervelo Cycles Inc., Cowboy SA, F.I.V. E. Bianchi S.p.A., Factor Bikes, Firefox Bikes Pvt Ltd., Firmstrong Bike Co., Fuji-ta Bicycle Co.,Ltd., Giant Manufacturing Co., Ltd., Hero Cycles Limited, Huffy Corporation, Kona Bikes, Marin Mountain Bikes Inc., Merida & Centurion Germany GmbH, Pedego Inc., Pon Holdings B.V., Pure Fix Cycles, Quality Bicycle Products, SCOTT Sports SA, Seven Cycles, Inc., Specialized Bicycle Components, Inc., Trek Bicycle Corporation, Tube Investments of India Ltd., Yadea Group Holdings Ltd., and Yamaha Motor Corporation.

Market Segmentation & Coverage

This research report categorizes the Bicycle Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Cargo Bikes
• Hybrid Bikes
• Mountain Bikes
• Road Bikes
• Technology
• Conventional
• Electric
• Design
• Folding
• Regular
• Distribution Channel
• Offline
• Online
• End-user
• Kids
• Men
• Women

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year