Bicycle Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Bicycle Market
The bicycle market size was valued at USD 113.73 billion in 2023, and the market is now projected to grow from USD 122.52 billion in 2024 to USD 274.14 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period of 2024-2032.
The outbreak of the COVID–19 global health crisis necessitated procedures that had never been observed in the past in an attempt to contain the virus, revolutionizing the transportation system and travel habits. Therefore, the consumption of bicycles rose during the period than any other times hence provoking the bicycle market growth.
Cycling and scootering are distinct elements promoting bicycling and involve enhanced roadways, bike paths, and sidewalks where allowed. This may also improve the bicycle market share as municipal governments around the world are promoting biking as an efficient means for managing traffic congestion, reducing air pollution and motivating people towards active transportation.
E-bikes are to be found and gaining popularity on the roads because they are easy to use and more environmentally friendly. The battery has been enhanced in that it is becoming efficient and cheaper to use. Also, the high operating and maintenance costs of the gasoline vehicles are the contributing factors towards the shifting of consumers towards electric bikes required for daily usage which in turn is providing the necessary push to the bicycle market .
Comprehensive Analysis of Bicycle Market
The bicycle market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by technology, by type, by end-user, by design, & by distribution channel. The technologies include: conventional, & electric. However, the types include: road, mountain, hybrid, cargo, & others. By end-user it can be segmented into: men, women, & kids. By design it can be bifurcated into: folding, & regular. By distribution channel it is divided into: online, & offline.
The Asia Pacific region leads the bicycle market by benefitting a market size of USD 50.55 billion in 2023 due to the presence of a large number of manufacturers in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: Hero Cycles Ltd. (India) Merida Industry Co., Ltd. (Taiwan) Orbea (Spain) Trek Bicycle Corporation (U.S.) Giant Bicycles (Taiwan) Accell Group (Netherlands) Mobility Holdings, Ltd. (Taiwan) Derby Cycles (Germany) Pon Holdings B.V. (Netherlands) Brompton Bicycle Inc. (U.K.)
In March 2024, Merida announced that the company added three all-new Shimano EP801-powered bikes to their lineup with a new full carbon eOne-Sixty CF, bigger range alloy eOne-Sixty Lite & versatile aluminium eOne-Forty Lite.
Segmentation Table
Global Bicycle Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 10.6% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Technology, By Type, By End-user, By Design, & By Distribution Channel
By Technology Electric
Conventional
By End-user Men
Women
Kids
By Type Mountain
Road
Hybrid
Cargo
Others
By Design Folding
Regular
By Distribution Channel Online
Offline
By Region North America (By Technology, End-user, Type, Design, Distribution Channel and Country)
- U.S.
- Canada
- Mexico
Europe (By Technology, End-user, Type, Design, Distribution Channel and Country)
- U.K.
- Germany
- France
- Spain
- Netherlands
- Belgium
- Denmark
- Italy
- Rest of Europe
Asia Pacific (By Technology, End-user, Type, Design, Distribution Channel and Country)
- China
- Japan
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- South Korea
- Rest of Asia Pacific
South America (By Technology, End-user, Type, Design, Distribution Channel and Country)
- Brazil
- Argentina
- Rest of South America
Middle East & Africa (By Technology, End-user, Type, Design, Distribution Channel and Country)
- UAE
- South Africa
- Rest of Middle East & Africa
Please Note: It will take 2-3 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Mergers, Acquisition and Partnerships
- 4.2. PORTER’s Five Forces
- 4.3. PEST Analysis
- 4.4. Technological Advancement
- 4.5. Impact of COVID-19 on Bicycle Market
- 4.6. Supplier Data
- 4.7. Bicycle Market Overview
- 4.8. Market Share Analysis
- 5. Global Bicycle Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Technology
- 5.2.1. Conventional
- 5.2.2. Electric
- 5.3. Market Analysis, Insights and Forecast – By Type
- 5.3.1. Mountain
- 5.3.2. Road
- 5.3.3. Hybrid
- 5.3.4. Cargo
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By End User
- 5.4.1. Men
- 5.4.2. Women
- 5.4.3. Kids
- 5.5. Market Analysis, Insights and Forecast – By Design
- 5.5.1. Folding
- 5.5.2. Regular
- 5.6. Market Analysis, Insights and Forecast – By Distribution Channel
- 5.6.1. Offline
- 5.6.2. Online
- 5.7. Market Analysis, Insights and Forecast – By Region
- 5.7.1. North America
- 5.7.2. Europe
- 5.7.3. Asia pacific
- 5.7.4. Rest of the world
- 6. North America Bicycle Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Technology
- 6.1.1. Conventional
- 6.1.2. Electric
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Mountain
- 6.2.2. Road
- 6.2.3. Hybrid
- 6.2.4. Cargo
- 6.2.5. Others
- 6.3. Market Analysis, Insights and Forecast – By End User
- 6.3.1. Men
- 6.3.2. Women
- 6.3.3. Kids
- 6.4. Market Analysis, Insights and Forecast – By Design
- 6.4.1. Folding
- 6.4.2. Regular
- 6.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 6.5.1. Offline
- 6.5.2. Online
- 6.6. Market Analysis, Insights Market Analysis – By Country
- 6.6.1. The U.S.
- 6.6.2. Canada
- 6.6.3. Mexico
- 7. Europe Bicycle Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Technology
- 7.1.1. Conventional
- 7.1.2. Electric
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Mountain
- 7.2.2. Road
- 7.2.3. Hybrid
- 7.2.4. Cargo
- 7.2.5. Others
- 7.3. Market Analysis, Insights and Forecast – By End User
- 7.3.1. Men
- 7.3.2. Women
- 7.3.3. Kids
- 7.4. Market Analysis, Insights and Forecast – By Design
- 7.4.1. Folding
- 7.4.2. Regular
- 7.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 7.5.1. Offline
- 7.5.2. Online
- 7.6. Market Analysis, Insights Market Analysis – By Country
- 7.6.1. Italy
- 7.6.2. Germany
- 7.6.3. France
- 7.6.4. Spain
- 7.6.5. U.K.
- 7.6.6. Netherland
- 7.6.7. Belgium
- 7.6.8. Denmark
- 7.6.9. Rest of Europe
- 8. Asia Pacific Bicycle Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Technology
- 8.1.1. Conventional
- 8.1.2. Electric
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Mountain
- 8.2.2. Road
- 8.2.3. Hybrid
- 8.2.4. Cargo
- 8.2.5. Others
- 8.3. Market Analysis, Insights and Forecast – By End User
- 8.3.1. Men
- 8.3.2. Women
- 8.3.3. Kids
- 8.4. Market Analysis, Insights and Forecast – By Design
- 8.4.1. Folding
- 8.4.2. Regular
- 8.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 8.5.1. Offline
- 8.5.2. Online
- 8.6. Market Analysis, Insights Market Analysis – By Country
- 8.6.1. China
- 8.6.2. India
- 8.6.3. Japan
- 8.6.4. Australia
- 8.6.5. South Korea
- 8.6.6. Indonesia
- 8.6.7. Thailand
- 8.6.8. Malaysia
- 8.6.9. Rest of APAC
- 9. Rest of the World Bicycle Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Technology
- 9.1.1. Conventional
- 9.1.2. Electric
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Mountain
- 9.2.2. Road
- 9.2.3. Hybrid
- 9.2.4. Cargo
- 9.2.5. Others
- 9.3. Market Analysis, Insights and Forecast – By End User
- 9.3.1. Men
- 9.3.2. Women
- 9.3.3. Kids
- 9.4. Market Analysis, Insights and Forecast – By Design
- 9.4.1. Folding
- 9.4.2. Regular
- 9.5. Market Analysis, Insights and Forecast – By Distribution Channel
- 9.5.1. Offline
- 9.5.2. Online
- 10. Market Analysis, Insights Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. Giant Bicycle, Inc.
- 10.5.1.1. Overview
- 10.5.1.2. Products & Services
- 10.5.1.3. SWOT Analysis
- 10.5.1.4. Recent Developments
- 10.5.1.5. Strategies
- 10.5.1.6. Financials (Based on Availability)
- 10.5.2. Hero Cycles Ltd
- 10.5.2.1. Overview
- 10.5.2.2. Products & Services
- 10.5.2.3. SWOT Analysis
- 10.5.2.4. Recent Developments
- 10.5.2.5. Strategies
- 10.5.2.6. Financials (Based on Availability)
- 10.5.3. Accell Group
- 10.5.3.1. Overview
- 10.5.3.2. Products & Services
- 10.5.3.3. SWOT Analysis
- 10.5.3.4. Recent Developments
- 10.5.3.5. Strategies
- 10.5.3.6. Financials (Based on Availability)
- 10.5.4. Robert Bosch GmbH
- 10.5.4.1. Overview
- 10.5.4.2. Products & Services
- 10.5.4.3. SWOT Analysis
- 10.5.4.4. Recent Developments
- 10.5.4.5. Strategies
- 10.5.4.6. Financials (Based on Availability)
- 10.5.5. Derby Cycle/Kalkhoff Werke GmbH
- 10.5.5.1. Overview
- 10.5.5.2. Products & Services
- 10.5.5.3. SWOT Analysis
- 10.5.5.4. Recent Developments
- 10.5.5.5. Strategies
- 10.5.5.6. Financials (Based on Availability)
- 10.5.6. Pedego Electric Bikes
- 10.5.6.1. Overview
- 10.5.6.2. Products & Services
- 10.5.6.3. SWOT Analysis
- 10.5.6.4. Recent Developments
- 10.5.6.5. Strategies
- 10.5.6.6. Financials (Based on Availability)
- 10.5.7. Panasonic Corporation
- 10.5.7.1. Overview
- 10.5.7.2. Products & Services
- 10.5.7.3. SWOT Analysis
- 10.5.7.4. Recent Developments
- 10.5.7.5. Strategies
- 10.5.7.6. Financials (Based on Availability)
- 10.5.8. Mobility Holdings, Ltd.
- 10.5.8.1. Overview
- 10.5.8.2. Products & Services
- 10.5.8.3. SWOT Analysis
- 10.5.8.4. Recent Developments
- 10.5.8.5. Strategies
- 10.5.8.6. Financials (Based on Availability)
- 10.5.9. Trek Bicycle Corporation
- 10.5.9.1. Overview
- 10.5.9.2. Products & Services
- 10.5.9.3. SWOT Analysis
- 10.5.9.4. Recent Developments
- 10.5.9.5. Strategies
- 10.5.9.6. Financials (Based on Availability)
- 10.5.10. Shimano Inc.
- 10.5.10.1. Overview
- 10.5.10.2. Products & Services
- 10.5.10.3. SWOT Analysis
- 10.5.10.4. Recent Developments
- 10.5.10.5. Strategies
- 10.5.10.6. Financials (Based on Availability)
- 10.5.11. Riese & Müller
- 10.5.11.1. Overview
- 10.5.11.2. Products & Services
- 10.5.11.3. SWOT Analysis
- 10.5.11.4. Recent Developments
- 10.5.11.5. Strategies
- 10.5.11.6. Financials (Based on Availability)
- 10.5.12. Kalkhoff Werke GmbH
- 10.5.12.1. Overview
- 10.5.12.2. Products & Services
- 10.5.12.3. SWOT Analysis
- 10.5.12.4. Recent Developments
- 10.5.12.5. Strategies
- 10.5.12.6. Financials (Based on Availability)
- 10.5.13. Royal Dutch Gazelle
- 10.5.13.1. Overview
- 10.5.13.2. Products & Services
- 10.5.13.3. SWOT Analysis
- 10.5.13.4. Recent Developments
- 10.5.13.5. Strategies
- 10.5.13.6. Financials (Based on Availability)
- 10.5.14. Haibike
- 10.5.14.1. Overview
- 10.5.14.2. Products & Services
- 10.5.14.3. SWOT Analysis
- 10.5.14.4. Recent Developments
- 10.5.14.5. Strategies
- 10.5.14.6. Financials (Based on Availability)
- 10.5.15. Bianchi S.p.A.
- 10.5.15.1. Overview
- 10.5.15.2. Products & Services
- 10.5.15.3. SWOT Analysis
- 10.5.15.4. Recent Developments
- 10.5.15.5. Strategies
- 10.5.15.6. Financials (Based on Availability)
- 10.5.16. Moustache Bikes
- 10.5.16.1. Overview
- 10.5.16.2. Products & Services
- 10.5.16.3. SWOT Analysis
- 10.5.16.4. Recent Developments
- 10.5.16.5. Strategies
- 10.5.16.6. Financials (Based on Availability)
- 10.5.17. VanMoof
- 10.5.17.1. Overview
- 10.5.17.2. Products & Services
- 10.5.17.3. SWOT Analysis
- 10.5.17.4. Recent Developments
- 10.5.17.5. Strategies
- 10.5.17.6. Financials (Based on Availability)
- 10.5.18. Brompton Bicycle Ltd
- 10.5.18.1. Overview
- 10.5.18.2. Products & Services
- 10.5.18.3. SWOT Analysis
- 10.5.18.4. Recent Developments
- 10.5.18.5. Strategies
- 10.5.18.6. Financials (Based on Availability)
- 10.5.19. Karbon Kinetics Ltd.
- 10.5.19.1. Overview
- 10.5.19.2. Products & Services
- 10.5.19.3. SWOT Analysis
- 10.5.19.4. Recent Developments
- 10.5.19.5. Strategies
- 10.5.19.6. Financials (Based on Availability)
- 10.5.20. ADO E-Bike
- 10.5.20.1. Overview
- 10.5.20.2. Products & Services
- 10.5.20.3. SWOT Analysis
- 10.5.20.4. Recent Developments
- 10.5.20.5. Strategies
- 10.5.20.6. Financials (Based on Availability)
- 10.5.21. ENGWE
- 10.5.21.1. Overview
- 10.5.21.2. Products & Services
- 10.5.21.3. SWOT Analysis
- 10.5.21.4. Recent Developments
- 10.5.21.5. Strategies
- 10.5.21.6. Financials (Based on Availability)
- 10.5.22. CUCA BIKE
- 10.5.22.1. Overview
- 10.5.22.2. Products & Services
- 10.5.22.3. SWOT Analysis
- 10.5.22.4. Recent Developments
- 10.5.22.5. Strategies
- 10.5.22.6. Financials (Based on Availability)
- 10.5.23. estarli
- 10.5.23.1. Overview
- 10.5.23.2. Products & Services
- 10.5.23.3. SWOT Analysis
- 10.5.23.4. Recent Developments
- 10.5.23.5. Strategies
- 10.5.23.6. Financials (Based on Availability)
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook