Bicycle Market Report – Industry Analysis, Size & Forecast (2025 – 2030)
The Bicycle Market Report is Segmented by Type (Road Bicycle, Hybrid Bicycle, all Terrain Bicycle, E-Bicycle, and Other Types), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.
Bicycle Market Report – Industry Analysis, Size & Forecast (2025 – 2030)
Bicycle Market Size
| Study Period | 2019 – 2030 |
| Market Size (2025) | USD 58.52 Billion |
| Market Size (2030) | USD 71.88 Billion |
| CAGR (2025 – 2030) | 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bicycle Market Analysis
The Bicycle Market size is estimated at USD 58.52 billion in 2025, and is expected to reach USD 71.88 billion by 2030, at a CAGR of 4.2% during the forecast period (2025-2030).
With the growing health consciousness among consumers, bicycles are seen as an increasingly dependable and healthy mobility option. The number of cycling events has increased in recent years, propelling the growth of the market studied. Over the forecast period, favorable government and employer initiatives are expected to drive the market studied. Various governing bodies in Europe, Asia-Pacific, and Africa, particularly South Africa, promote road racing, touring, leisure cycling, track racing, off-road racing, and mountain biking events. For instance, in November 2022, the transport ministers of the Netherlands announced that around USD 1.2 billion was allocated to cycle infrastructure. In Germany, the Giant Group launched Momentum brand e-bikes. One is the Voya E+, a lightweight, minimalist, and nearly maintenance-free e-bike for the city, and another one is the PakYak E+, an adventure light e-cargo bike.
Bicycle manufacturers can use artificial intelligence (AI) advancements to better predict consumer demand, cater to niche segments, and improve recommendation engines. E-bikes are gaining immense traction in countries such as China and Japan. Some significant reasons considered for adopting and driving e-bikes in these countries are their health benefits, avoidance of traffic congestion, environmental benefits, and increased demand for e-bikes as sports equipment. Various organizations and governments are also aggressively deploying the infrastructure in the developed economies needed to support the switch to bicycles, thereby encouraging people to opt for bicycles. For instance, in May 2023, the French government announced its plan to spend EUR 2 billion (USD 2.2 billion) through 2027 to improve cycle infrastructure and help people buy bikes to reduce car use and boost cycling. The aim is to double the cycle lane network, and the government plans to spend EUR 250 million a year on new bike lanes from 2023 to 2027. The rest of the budget will go toward other measures to boost bicycle use. About EUR 500 million will be allocated toward subsidies to buy bicycles, including second-hand bicycles. All these factors help in driving the growth of the bicycle market.
Bicycle Market Trends
Increasing Number of Cycling Events
The increasing application of bicycles in trekking and recreational activities, coupled with a rising number of cycling events, is expected to boost demand for both general and sports bicycles. The growing influence of celebrity endorsements and increased media coverage of such events are expected to boost the sales of bikes. For instance, according to a survey conducted by Allgemeiner Deutscher Fahrrad-Club (ADFC) in 2022, around 96% of respondents used their bikes in Germany. Furthermore, various governing bodies in European countries, such as Cycling Ireland, promote road racing, touring and leisure cycling, track racing, and off-road racing events. According to the Irish Sports Council, Sport Ireland invested approximately EUR 520 thousand in Cycling Ireland in 2022, encouraging consumers to participate in various cycling activities in Ireland. The event’s ultimate goal was to raise cycling awareness and increase cycling adoption in the city. Such awareness campaigns also boost the growth of the market studied.
Furthermore, cycling events can help raise awareness about cycling and ultimately support efforts to encourage a modal shift toward bicycle use. Events may be tailored to specific groups, such as children, families, new cyclists, or employees of a specific organization or location. In April 2023, Cycling Ireland extended its National Road Series for road racing cyclists and moved on to the sportive sector with the launch of a new Leisure National Series. The 2023 Leisure National Series aimed to support leisure cycling event organizers in the four provinces and assist the host clubs and their members across the host clubs and its members in the Island of Ireland. This was the first time that a national governing body was involved in the sportive scene in this way, which is the largest part of Irish cycling and whose riders account for the biggest section of Cycling Ireland’s membership. Moreover, international sports events, such as cycling championships, also encourage the involvement of consumers in cycling. These factors drive the growth of the market studied.
Asia-Pacific Holds Significant Market Share
Asia-Pacific is the largest and fastest-growing region in the bicycle market. China, Japan, Australia, India, and South Korea are some of the leading countries in the region. In 2022, India had the largest share of regular cyclists, who used their bikes at least once weekly. It was closely followed by China and the Netherlands, where around two-thirds of the population are weekly bicycle riders. Moreover, these countries have started hosting numerous cycling tournaments, which may increase the popularity and demand for sports bicycles. For instance, in December 2022, the Cycling Federation of India announced its 27th senior, junior, and sub-junior road cycling championship. The championship is supposed to be in January 2023 at Sinner, Nasik, Maharashtra. Furthermore, due to adult and child obesity in India, the demand for cycles is increased as it helps in weight loss.
E-bikes have become prominent in countries such as China and Japan. Some major reasons for adopting and driving e-bikes around Asia-Pacific are health benefits, avoidance of traffic congestion, environmental benefits, and increased demand for e-bikes as sports equipment. The major players across the region mainly focus on expanding their product portfolio by launching bikes with innovative features. For instance, in April 2022, mobility user Neuron Mobility launched its fleet of 250 of its safety-first e-bikes in Sydney, Australia. Neuron e-bikes have Google Maps to help the riders. Through this, the nearest Neuron E-bike can be spotted, including directions to get there and the time required to reach the destination. All these factors contribute to the growth of the market studied.
Competitive Landscape
The bicycle market is highly competitive, with many global and regional players. Major players in the market include Giant Manufacturing Co. Ltd, Accell Group, Trek Bicycle Corporation, Merida Industry Co. Ltd, and Pon Holdings BV. These key players are venturing into the manufacturing of innovative bicycles, embarking on partnerships with other players, mergers and acquisitions, and shaping up their online and offline marketing strategies to expand their presence in the global market. For instance, the company launched the Ribble Collective project to provide support and backing to a group of various British privateer riders across all cycling disciplines. With the brand’s support, the new project aims for Ribble Collective riders to set out and achieve their own cycling goals across various events.
Major Players
- Trek Bicycle Corporation
- Pon Holdings BV
- Giant Manufacturing Co. Ltd.
- Accell Group N.V.
- Merida Industry Co. Ltd
- *Disclaimer: Major Players sorted in no particular order
Recent Developments
- March 2023: DOUZE Factory SAS, a France-based company specializing in the design and manufacture of cargo bikes, announced a partnership with Toyota to co-develop and release a new range of electric cargo bikes.
- February 2023: Trek Bicycle Corporation launched two electric bikes, both designed as kid and cargo movers. The new Trek Fetch Plus 2 and Trek Fetch Plus 4 mark Trek’s deepest dive into the cargo e-bike segment. These family-friendly cargo e-bikes carry distinct designs, with the Trek Fetch Plus 2 rolling out as a longtail cargo bike and the Trek Fetch Plus 4 taking on a less common front-loader cargo bike layout.
- February 2023: Pon. Bike announced the construction of a Lithuania factory in the Kėdainiai Free Economic Zone (FEZ), with the factory scheduled to begin operation in the summer of 2024. This construction is expected to strengthen manufacturing capacity in Europe and will look for assembling bicycles and producing electric bicycles.
- January 2023: The world’s leading electric two-wheeler brand, Yadea, launched its two new electric bike models at the Consumer Electronic Show (CES) 2023 in Las Vegas. According to the company claim, the models include Innovator, URider S, and Trooper 01.
- September 2022: Pon Bikes acquired the Dutch e-bike brand Veloretti. The brand Veloretti is a prominent player across Europe. The company made plans to expand its bike ranges with innovative features.
Bicycle Industry Segmentation
A bicycle is a vehicle with two wheels in tandem, usually propelled by pedals connected to the rear wheel by a chain, having handlebars for steering and a saddle-like seat. The bicycle market has been segmented by type, distribution channel, and geography. By type, the market is segmented into road bicycles, hybrid bicycles, all-terrain bicycles and other types. By distribution channel, the market is segmented into offline retail stores and online retail stores. The report also provides a regional analysis of North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The report offers the market size in value terms in USD for all the abovementioned segments.
| Type | Road Bicycle | |
| Hybrid Bicycle | ||
| All Terrain Bicycle | ||
| E-bicycle | ||
| Other Types | ||
| Distribution Channel | Offline Retail Stores | |
| Online Retail Stores | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | United Kingdom |
| Germany | ||
| Spain | ||
| France | ||
| Italy | ||
| Russia | ||
| Netherlands | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Chile | ||
| Rest of South America | ||
| Geography | Middle East and Africa | United Arab Emirates |
| South Africa | ||
| Rest of Middle East and Africa |
Bicycle Market Research FAQs
The Bicycle Market size is expected to reach USD 58.52 billion in 2025 and grow at a CAGR of 4.20% to reach USD 71.88 billion by 2030.
In 2025, the Bicycle Market size is expected to reach USD 58.52 billion.
Trek Bicycle Corporation, Pon Holdings BV, Giant Manufacturing Co. Ltd., Accell Group N.V. and Merida Industry Co. Ltd are the major companies operating in the Bicycle Market.
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
In 2025, the Asia-Pacific accounts for the largest market share in Bicycle Market.
In 2024, the Bicycle Market size was estimated at USD 56.06 billion. The report covers the Bicycle Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Bicycle Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Bicycle Industry Report
The global bicycle market is experiencing notable growth, driven by a surge in individuals opting for cycling as a mode of leisure and exercise. The market’s expansion is further fueled by the increasing popularity of dockless bicycle-sharing systems, particularly in Asian countries. This diverse market offers a range of products including road bicycles, hybrid bicycles, all-terrain bicycles, e-bicycles, and other types to meet the varied needs of consumers.
Significant factors such as a global emphasis on sustainability and eco-friendly transportation, evolving lifestyles among younger demographics, and urbanization trends are propelling the demand for bicycles. These trends highlight the importance of bicycles as a green alternative to traditional vehicles and as commuter-friendly, compact designs. Technological advancements in lightweight materials, electronic components, and smart features are pivotal to product innovation and differentiation within the market.
Government initiatives promoting cycling infrastructure and bike-sharing programs are also crucial to the market’s development. The market segmentation is detailed by type and distribution channel, covering offline and online retail stores across various geographies including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Industry analysis reveals that the market value and market size are key metrics in understanding the market’s dynamics. The market research indicates a positive market growth and market forecast, supported by industry statistics and industry trends. The market report and industry report provide comprehensive insights into market segmentation and market overview, highlighting the industry outlook and market outlook.
The industry information and industry research underscore the significance of market data and market predictions in forecasting the market’s trajectory. Furthermore, the market review and market segmentation offer a detailed examination of the market’s structure and the various segments within it.
In summary, the bicycle market is set to continue its upward trajectory, driven by a combination of technological advancements, government support, and shifting consumer preferences towards sustainable and efficient modes of transportation. The industry reports and market reports serve as valuable resources for understanding the market’s landscape and future prospects.