Market Research

Bicycle Market Forecasts to 2028 - Global Analysis By Product (Mountain Bikes, Road Bikes, Hybrid Bicycle, Cargo Bikes, All Terrain Bicycle and Other Products), By Design (Regular and Folding), By Technology, By End User and By Geography

Best Price Guarantee Length Publisher Published Date SKU
from $4,150 175 Pages Stratistics Market Research Consulting March, 2023 SMR17801325
Best Price Guarantee
Price from $4,150
Length 175 Pages
Publisher Stratistics Market Research Consulting
Published Date March, 2023
SKU SMR17801325

Bicycle Market Forecasts to 2028 - Global Analysis By Product (Mountain Bikes, Road Bikes, Hybrid Bicycle, Cargo Bikes, All Terrain Bicycle and Other Products), By Design (Regular and Folding), By Technology, By End User and By Geography

According to Stratistics MRC, the Global Bicycle Market is accounted for $85.0 billion in 2022 and is expected to reach $138.7 billion by 2028 growing at a CAGR of 8.5% during the forecast period. An eco-friendly form of transportation is the bicycle, which exists in a wide range of models, including cargo cycles, electric bikes, and mountain bikes. Cycling is one of the safest forms of transportation because it is so simple to use. The primary goal of significant bicycle associations like Go Out and Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club is to develop consumer interest in cycling.

According to the United Nations Conference on Trade and Development (UNCTAD) Handbook of Statistics, the global urban population percentage grew from 51.6% in 2010 to 56.2% in 2020.

Market Dynamics:

Driver:

Inclining government focus on cycling infrastructure development

The public's adoption of bicycles is anticipated to increase as a result of the government's focus on funding cycling infrastructure development. Almost all developed economies are investing heavily in the construction of new bike lanes and other initiatives to improve the infrastructure for both pedestrians and cyclists. For instance, in 2021, municipal authorities in Ireland announced the allocation of USD 240.7 million for the development of infrastructure for bikes and pedestrians; this amount was over three times that of the financing for urban transportation.

Restraint:

Availability of alternative transport solutions

During the projected period, the availability of alternative transport options such as motorcycles, scooters, and other micro-mobility solutions with a longer travel range than e-bikes is predicted to restrain market expansion. Moreover, another problem restricting the market is the delay in deliveries brought on by the lack of semiconductor chips caused by the pandemic.

Opportunity:

Growing popularity of cycling-related sports

Global bike sales are being propelled by the rising popularity of cycling-related sports like BMX racing and adventure sports like mountain biking, among others. In addition, the growing number of cycling sports clubs and their alluring marketing tactics are urging people of all ages to take up cycling as a recreational activity, which is anticipated to further accelerate market expansion in the coming years. Additionally, technical advancements like linked bikes, the usage of lightweight, efficient materials, and the development of electrically driven bikes are some of the popular trends that are projected to boost the market's expansion throughout the forecast period.

Threat:

Lack of infrastructure

The market's growth is anticipated to be constrained by the impending lack of infrastructure needed to permit and promote commuting, particularly in growing economies like India. Additionally, the price of composite-made lightweight bicycles is higher, which is not helpful for the future growth of the business.

Covid-19 Impact:

Markets across the board have suffered as a consequence of the pandemic's spread. Due to closed manufacturing facilities and a disturbed supply chain, this sector also experienced an initial slump. The bicycle industry, however, experienced a boom in the second half of 2020 after initially slowing down, as a result of an unexpected increase in cycling demand. Individuals were influenced to use cycling for commuting, transportation, and leisure activities due to restrictions on accessible leisure activities, public transportation, and stringent social distancing laws. The population's decision to choose cycling for fitness and leisure activities was also affected by COVID-19 and the population's growing health concerns.

The hybrid bicycle segment is expected to be the largest during the forecast period

Because a hybrid bike is essentially a cross between a road bike and a mountain bike, the hybrid segment had the largest market share and is predicted to continue its dominance during the forecast period. As a result, they are suitable for both commuting on different types of terrain and using for urban road transportation. Moreover, due to their adaptability, hybrid bicycles are growing more popular, which is projected to fuel segment expansion during the projection period.

The folding segment is expected to have the highest CAGR during the forecast period

Over the course of the forecast period, the folding category is expected to grow at a robust pace due to the urban population's preference for folding bikes as a solution to urban traffic congestion and parking shortages. Additionally, these may be folded down to a compact size for simpler storage and transportation. They can even be taken inside buildings or onto public transportation.

Region with largest share:

Throughout the projected period, Asia Pacific dominated the largest share of the global bicycle market because cycling is a popular form of transportation in many developing Asian nations. The region's market is expanding due to China's high e-bike demand. Additionally, it is projected that the market growth in the coming years will be driven by the rising popularity of bike-sharing services in China as a substitute for public transportation. Moreover, the inclination of the populace toward cycling in urban areas of India, such as Mumbai, Delhi, and others, for transportation and exercise is projected to fuel market expansion in the region.

Region with highest CAGR:

As increased e-bike sales in the U.S. are the prime reason for the market growth in the region, North America is anticipated to experience the highest market growth during the projected period. The trend toward the adoption of micro-mobility solutions like conventional bikes and e-bikes is being driven by tax incentives provided by the U.S. government, as well as the growing traffic congestion in urban areas across North America.
Key players in the market

Some of the key players in Bicycle market include Hero Cycles Limited, Pedego Inc., Benno Bikes LLC, Ribble Cycles, Bulls Bikes, Giant Manufacturing Co. Ltd, Pon Holdings BV, Dorel Industries Inc., Trek Bicycle Corporation, Accell Group NV, Merida Industry Co., Ltd, Orbea, Mobility Holdings,Ltd, Derby Cycle, Kona Bikes and Brompton Bicycle Inc..

Key Developments:

In April 2022, Hero International (HIT), a part of India’s Hero Motors Company (HMC), announced adding a new assembly plant in its manufacturing facility in Manchester for Electric bikes. The company will produce high-end, IoT-enabled electric cycles and push bikes for customers in the U.K. and EU.

In April 2022, Giant Bicycle announced the recall of the model year 2021 Giant Cypress DX, Giant Escape 3 Comfort, Liv Flourish FS 1, and Liv Alight 3 Comfort bicycles due to fall and injury hazards.

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.

Products Covered:
• Mountain Bikes
• Road Bikes
• Hybrid Bicycle
• Cargo Bikes
• All Terrain Bicycle
• Other Products

Designs Covered:
• Regular
• Folding

Technologies Covered:
• Conventional Bicycle
• Electric Bicycle

End Users Covered:
• Men Bicycle
• Kids Bicycle
• Women Bicycle

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Bicycle Market, By Product
5.1 Introduction
5.2 Mountain Bikes
5.3 Road Bikes
5.4 Hybrid Bicycle
5.5 Cargo Bikes
5.6 All Terrain Bicycle
5.7 Other Products
6 Global Bicycle Market, By Design
6.1 Introduction
6.2 Regular
6.3 Folding
7 Global Bicycle Market, By Technology
7.1 Introduction
7.2 Conventional Bicycle
7.3 Electric Bicycle
8 Global Bicycle Market, By End User
8.1 Introduction
8.2 Men Bicycle
8.3 Kids Bicycle
8.4 Women Bicycle
9 Global Bicycle Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Hero Cycles Limited
11.2 Pedego Inc.
11.3 Benno Bikes LLC
11.4 Ribble Cycles
11.5 Bulls Bikes
11.6 Giant Manufacturing Co. Ltd
11.7 Pon Holdings BV
11.8 Dorel Industries Inc.
11.9 Trek Bicycle Corporation
11.10 Accell Group NV
11.11 Merida Industry Co., Ltd
11.12 Orbea
11.13 Mobility Holdings,Ltd
11.14 Derby Cycle
11.15 Kona Bikes
11.16 Brompton Bicycle Inc.
List of Tables
Table 1 Global Bicycle Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 3 Global Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 4 Global Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 5 Global Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 6 Global Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 7 Global Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 8 Global Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 9 Global Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 10 Global Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 11 Global Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 12 Global Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 13 Global Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 14 Global Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 15 Global Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 16 Global Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 17 Global Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 18 Global Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)
Table 19 North America Bicycle Market Outlook, By Country (2020-2028) ($MN)
Table 20 North America Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 21 North America Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 22 North America Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 23 North America Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 24 North America Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 25 North America Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 26 North America Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 27 North America Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 28 North America Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 29 North America Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 30 North America Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 31 North America Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 32 North America Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 33 North America Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 34 North America Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 35 North America Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 36 North America Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)
Table 37 Europe Bicycle Market Outlook, By Country (2020-2028) ($MN)
Table 38 Europe Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 39 Europe Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 40 Europe Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 41 Europe Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 42 Europe Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 43 Europe Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 44 Europe Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 45 Europe Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 46 Europe Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 47 Europe Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 48 Europe Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 49 Europe Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 50 Europe Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 51 Europe Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 52 Europe Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 53 Europe Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 54 Europe Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)
Table 55 Asia Pacific Bicycle Market Outlook, By Country (2020-2028) ($MN)
Table 56 Asia Pacific Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 57 Asia Pacific Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 58 Asia Pacific Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 59 Asia Pacific Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 60 Asia Pacific Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 61 Asia Pacific Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 62 Asia Pacific Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 63 Asia Pacific Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 64 Asia Pacific Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 65 Asia Pacific Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 66 Asia Pacific Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 67 Asia Pacific Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 68 Asia Pacific Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 69 Asia Pacific Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 70 Asia Pacific Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 71 Asia Pacific Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 72 Asia Pacific Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)
Table 73 South America Bicycle Market Outlook, By Country (2020-2028) ($MN)
Table 74 South America Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 75 South America Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 76 South America Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 77 South America Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 78 South America Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 79 South America Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 80 South America Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 81 South America Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 82 South America Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 83 South America Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 84 South America Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 85 South America Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 86 South America Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 87 South America Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 88 South America Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 89 South America Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 90 South America Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)
Table 91 Middle East & Africa Bicycle Market Outlook, By Country (2020-2028) ($MN)
Table 92 Middle East & Africa Bicycle Market Outlook, By Product (2020-2028) ($MN)
Table 93 Middle East & Africa Bicycle Market Outlook, By Mountain Bikes (2020-2028) ($MN)
Table 94 Middle East & Africa Bicycle Market Outlook, By Road Bikes (2020-2028) ($MN)
Table 95 Middle East & Africa Bicycle Market Outlook, By Hybrid Bicycle (2020-2028) ($MN)
Table 96 Middle East & Africa Bicycle Market Outlook, By Cargo Bikes (2020-2028) ($MN)
Table 97 Middle East & Africa Bicycle Market Outlook, By All Terrain Bicycle (2020-2028) ($MN)
Table 98 Middle East & Africa Bicycle Market Outlook, By Other Products (2020-2028) ($MN)
Table 99 Middle East & Africa Bicycle Market Outlook, By Design (2020-2028) ($MN)
Table 100 Middle East & Africa Bicycle Market Outlook, By Regular (2020-2028) ($MN)
Table 101 Middle East & Africa Bicycle Market Outlook, By Folding (2020-2028) ($MN)
Table 102 Middle East & Africa Bicycle Market Outlook, By Technology (2020-2028) ($MN)
Table 103 Middle East & Africa Bicycle Market Outlook, By Conventional Bicycle (2020-2028) ($MN)
Table 104 Middle East & Africa Bicycle Market Outlook, By Electric Bicycle (2020-2028) ($MN)
Table 105 Middle East & Africa Bicycle Market Outlook, By End User (2020-2028) ($MN)
Table 106 Middle East & Africa Bicycle Market Outlook, By Men Bicycle (2020-2028) ($MN)
Table 107 Middle East & Africa Bicycle Market Outlook, By Kids Bicycle (2020-2028) ($MN)
Table 108 Middle East & Africa Bicycle Market Outlook, By Women Bicycle (2020-2028) ($MN)

$4,150
$7,500

Research Assistance

US: 800.298.5699
Int'l: +1.240.747.3093
Live help
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

Other tasks

Cookie Settings