Bicycle Market

Global Bicycle Market:

The global bicycle market size reached USD 67.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 102.1 Billion by 2033, exhibiting a growth rate (CAGR) of 4.48% during 2025-2033. Asia Pacific currently dominates the market, holding a market share of 57.1% in 2024. The dominance of the region is attributed to the growing health consciousness, rising environmental concerns, and increasing government investments in cycling infrastructure. The launch of favorable policies by government bodies to minimize carbon emissions levels that are released from vehicles, coupled with the development of electric bicycles, is primarily bolstering the market share.

Market Size & Forecasts:

• Bicycle market was valued at USD 67.4 Billion in 2024.
• The market is projected to reach USD 102.1 Billion by 2033, at a CAGR of 4.48% from 2025-2033.

Dominant Segments:

• Type: Road bicycle leads the bicycle market with 28.5% share, owing to its exceptional performance, lightweight construction, and effectiveness for long journeys. It provides improved speed, comfort, and aerodynamics, making it ideal for competitive cycling and leisure activities. Its popularity is further driven by improvements in materials and technology.
• Technology: Conventional exhibits a clear dominance in the industry, holding 72.2% market share, accredited to its ease of use, cost-effectiveness, and dependability. With reduced technological parts, it provides simplicity in upkeep and an extended lifespan, making it a favored selection for numerous individuals looking for an economical and lasting cycling alternative.
• Price: Mid-range accounts for the largest market share with 71.9% due to its well-rounded mix of quality, performance, and cost-effectiveness. Providing sophisticated features without the premium models' hefty prices, it attracts a wide range of buyers looking for cost-effectiveness and durable, dependable products for daily use.
• Distribution Channel: Offline stores represent the largest segment, accounting for 82.8% market share, as they offer buyers direct experiences, tailored advice, and instant product access. These shops enable shoppers to personally examine bikes, helping them make informed choices and boosting confidence in the buying experience.
• End User: Men hold the biggest market share with 54.2% because of their greater involvement in cycling activities, such as commuting, fitness, and competitive sports. Their inclination towards high-performance and resilient bicycles contributes to the demand, as they look for specialized designs that cater to both leisure and competitive cycling requirements.
• Region: Asia Pacific dominates the bicycle market, holding 57.1% attributed to an expanding middle class and heightened awareness about health and environmental advantages. Moreover, encouraging government policies and investments in infrastructure enhance demand, positioning the region as a major contributor to worldwide bicycle sales.

 Key Players:

• The leading companies in bicycle market include Accell Group N.V., Avon Cycles Ltd., Benno Bikes LLC, Cervélo (Pon Holdings B.V.), Dorel Industries Inc., Giant Manufacturing Co. Ltd., Kona Bicycle Company, Merida Industry Co. Ltd., Olympus Bikes, SCOTT Sports SA (Youngone Corporation), Specialized Bicycle Components Inc., and Trek Bicycle Corporation (Roth Distributing Co. Inc.).

Key Drivers of Market Growth:

• Growing Popularity of E-Bikes: E-bikes are becoming more popular as they provide improved mobility and convenience for those who may struggle with regular cycling. Advancements in battery and motor technology enable e-bikes to help riders travel greater distances, navigate challenging landscapes, and experience cycling with less effort, increasing accessibility for a broader audience.
• Expansion of Bicycle Sharing Programs: Bicycle sharing initiatives are transforming city transport by offering easy and economical access to bicycles. These efforts lessen the necessity for owning and maintaining bikes, while encouraging eco-friendly, temporary cycling for travel or recreation. With the expansion of these programs in cities, an increasing number of people are motivated to ride bikes, enhancing market demand.
• Improved Bike Infrastructure: Enhanced bike infrastructure is making cycling safer and more attractive by providing more efficient and secure cycling paths. With cities developing bike lanes and improving connections between important regions, cycling turns into a viable and appealing mode of transport, encouraging greater numbers of individuals to include it in their everyday lives.
• Health and Fitness Awareness: The popularity of cycling is rising because of the heightened emphasis on health and fitness. Cycling is preferred as a low-impact exercise due to its acknowledged advantages for cardiovascular health, endurance, and strength. This movement towards wellness prompts more people to ride bicycles, catalyzing the demand for bikes among various sectors and demographics.
• Changing Commuting Patterns: As urban areas grow quickly and face issues like traffic jams, scarce parking, and pollution, bicycles provide a practical and environment-friendly option for city commuters. With an increasing number of individuals choosing cycling to minimize travel time and expenses, the bicycle industry gains from the growing need for eco-friendly, efficient transport in city environments.
• Environmental Awareness and Sustainability: Increasing worries about climate change and environmental sustainability are driving the demand for bicycles as a green means of transportation. Bicycles generate no emissions, need fewer resources, and provide an answer to city pollution. Government incentives and rising awareness further support the market growth, coinciding with sustainability goals.

Future Outlook:

• Strong Growth Outlook: The bicycle market is poised for strong growth, driven by increasing demand for sustainable transportation, rising health consciousness, and advancements in bicycle technology. Additionally, expanding infrastructure and growing urban populations are further influencing the market, ensuring continued positive momentum in the coming years.
• Market Evolution: The bicycle market is evolving with innovations in design, technology, and sustainability, catering to a broader range of user needs. Enhanced performance, improved comfort, and eco-friendly solutions are reshaping the market, attracting diverse demographics and driving its adaptation to modern transportation and recreational trends.

Bicycles are becoming more recognized as a means to maintain fitness and activity. Individuals seek low-impact exercises that are both enjoyable and effective, making cycling a desirable choice. This increasing focus on personal health is encouraging more people to add cycling to their everyday activities. Furthermore, with growing awareness about climate change, numerous individuals look for sustainable transportation options. Bicycles generate zero emissions and need fewer resources than motorized vehicles, making them an eco-friendly option. Apart from this, advancements in materials, design, and bicycle parts are enhancing the efficiency, comfort, and durability of bicycles. These enhancements appeal to individuals seeking an improved cycling experience. Lightweight frames, electric bicycle alternatives, and improved gearing systems are increasing cycling accessibility for a wider array of users. Additionally, many governments are funding cycling infrastructure, including bike lanes and bike-sharing initiatives, to promote eco-friendly transportation. These initiatives not only enhance the safety of cycling but also enhances its convenience.

Global Bicycle Market Trends:

Growing Popularity of E-Bikes

The rise of electric bicycles (e-bikes), providing improved mobility and ease, is making cycling more attainable for people who might not have thought about it previously, including those with physical challenges or long-distance travelers. Incorporating an electric motor allows cyclists to travel longer distances, manage tough terrains, and achieve greater speeds with reduced effort. With advancements in battery technology, e-bikes are becoming more efficient, cost-effective, and suitable for daily use. This advancement in bicycle technology is attracting a wider range of users, including city commuters, leisure cyclists, and older individuals looking for a more convenient cycling experience. Building on the increasing accessibility and appeal of e-bikes, new models like the Decathlon Btwin LD 940E Connect, launched in 2025, are pushing the boundaries of technology with advanced features and extended range to attract an even broader user base. It features a 250W Owuru motor, 600W peak power, and a 694 Wh battery providing up to 130 km of range. It includes features like CVT, Bluetooth connectivity, and a suspension fork.

Expansion of Bicycle Sharing Programs

Bicycle sharing initiatives are influencing the industry growth by enhancing the accessibility and convenience of cycling. These initiatives, becoming more common in city settings, enable people to rent bicycles for brief periods without requiring ownership or upkeep. These initiatives promote casual biking by providing an inexpensive, adaptable option for city travel, especially for brief commutes or last-mile connections. With cities implementing bike-sharing programs and enhancing related infrastructure, an increasing number of individuals are engaging in cycling, contributing to the market growth. Bike-sharing programs are gaining popularity due to their convenience, affordability, and positive impact on the environment, particularly among those lacking the space, budget, or inclination to own a personal bicycle. The growth and effectiveness of these initiatives are leading to a higher demand for bicycles in various areas.

Improved Bike Infrastructure

With cities investing in specialized bike lanes, safer cycling paths, and bike-sharing initiatives, biking becomes increasingly accessible and attractive to a broader audience. Upgraded infrastructure boosts safety and ease, targeting a key obstacle to embracing cycling, especially in city settings. As neighborhoods, workplaces, and recreational areas become more connected, cycling is being regarded as an effective means of transportation. This is catalyzing the demand for bicycles, as more individuals are motivated to include cycling in their everyday activities. In line with this trend, in 2025, Ridgewood Rides launched the "Complete the Connections" campaign to expand and improve bike infrastructure in Queens, addressing unsafe gaps and incomplete bike lanes. The campaign targets seven key corridors to create safer, continuous routes linking Ridgewood with neighboring communities. A public launch event and community bike ride are planned for April 26 to raise awareness and gather support.

Global Bicycle Market Growth Drivers:

Health and Fitness Awareness

With an increasing number of people acknowledging the advantages of consistent physical activity, cycling presents an attractive, low-impact exercise option that contributes to enhanced endurance, strength, and cardiovascular well-being. Bicycles are regarded as an easy method to maintain fitness, whether for leisurely rides or organized training. With the evolution of gyms and conventional fitness routines, cycling continues to be a favored option because of its adaptability, enabling individuals to ride in diverse environments, including urban, rural, or on specialized tracks. This growing awareness about health promotes not just individual fitness but also general wellness, establishing bicycles as an essential element of healthier living. With a focus on preventive health and mental well-being, bicycles are regarded as beneficial instruments to lower the likelihood of chronic ailments and enhance mental sharpness, thus increasing their market appeal.

Changing Commuting Patterns

Rapid urbanization is driving the bicycle market as cities become more densely populated and traditional transport infrastructure struggles to meet the growing demands. With limited parking, traffic congestion, and increasing pollution, bicycles offer an efficient, cost-effective, and eco-friendly solution for commuting. An increasing number of people are choosing to bike for their daily travel because of the convenience and time-saving advantages, particularly in crowded urban areas where public transit is often packed. With urban dwellers focusing on reducing commuting costs and environmental footprints, the bicycle market is benefiting from the rise of urban mobility trends. In 2025, AOKI Mobility launched a range of e-bicycles aimed at promoting sustainable urban transport. The new models include the Sherpa (mountain), Flex (folding), and Cadence (city), with the Flex offering a lightweight design and an 80 km range. AOKI plans to produce 80,000 e-bikes, emphasizing eco-friendly mobility and innovation.

Environmental Awareness and Sustainability

Amid global worries about greenhouse gas emissions, there is a clear movement towards more sustainable and environment-friendly transportation methods. Bicycles, which produce no emissions and need fewer resources to manufacture than motor vehicles, are becoming popular with eco-minded individuals. The rising urban traffic and pollution issues, with cycling seen as an effective way to lower carbon emissions, is further bolstering the market growth. Moreover, government initiatives that encourage sustainable transportation alternatives, such as subsidies and incentives for biking, is catalyzing the demand for bicycles. For instance, in 2025, Kuala Lumpur City Hall (DBKL) launched a two-year micromobility pilot project, deploying 225 electric bicycles across three zones to improve urban travel. The initiative, running from February 2025 to January 2027, aims to promote sustainable transport and reduce carbon footprints. The project is aligned with the city's 2040 mobility plans and will include data-driven reviews for potential expansions.

Bicycle Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, technology, price, distribution channel, and end user.

Breakup by Type:

• Road Bicycle
• Mountain Bicycle
• Hybrid Bicycle
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes road bicycle, mountain bicycle, hybrid bicycle, others.

Mountain bicycles are extensively used in trekking, owing to the rising penetration towards adventure activities. Moreover, the majority of the population is switching towards the road and hybrid bicycles to commute shorter distances. This diverse range of product variants allows retailers and manufacturers to target specific consumer segments, thereby meeting the unique demands of numerous cycling enthusiasts.

Breakup by Technology:

• Electric
• Conventional

The report has provided a detailed breakup and analysis of the market based on the technology. This includes electric and conventional.

Conventional bicycles provide an excellent means of exercise, which helps to improve cardiovascular health, muscle strength, overall fitness, etc. Furthermore, e-bikes can reach higher speeds with less effort, which can make commuting faster and more convenient.

Breakup by Price:

• Premium
• Mid-Range
• Low-Range

The report has provided a detailed breakup and analysis of the market based on the price. This includes premium, mid-range, and low-range.

The demand for bicycles across premium, mid, and low ranges vary based on several factors, including economic conditions, consumer preferences, and trends in cycling.

Breakup by Distribution Channel:

• Online Stores
• Offline Stores

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online stores and offline stores.

The sale of bicycles is increasing in both online and offline stores, as they cater to the needs of the consumers depending upon their preferences. Online bicycle stores offer the convenience of browsing and purchasing bikes from the comfort of home, 24/7, without the need to visit a physical store. Moreover, the growing penetration of high-speed internet is encouraging vendors to sell their products via online platforms, including Amazon, Ali Express, Flipkart, etc. On the other hand, offline stores allow customers to physically inspect and test ride bicycles before making a purchase, providing a tactile shopping experience.

Breakup by End User:

• Men
• Women
• Kids

The report has provided a detailed breakup and analysis of the market based on the end-user. This includes men, women, and kids.

The elevating usage of bicycles among men, women, and kids is based on various factors including comfort, safety, trends, commuting and transportation choices, etc. As such, the number of men riding bicycles is higher than women and kids. According to the statistical data presented by the Department for Transport U.K., in 2019, on average, the U.K. male population made 25 cycling trips in a year than 10 cycling trips by the women in the same year.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Countries, including Japan, Singapore, China, etc., are emphasizing on building necessary infrastructures to support and encourage bicycle commutation. Some of the cities in Japan, such as Tokyo, are known for their lowest accident rates and are hence considered ideal cities for urban bicycling. Moreover, bicycle-sharing companies in China are extensively targeting countries, such as Australia and India, to expand their operations, which is expected to bolster the demand for bicycles over the forecasted period.

Leading Key Players in the Bicycle Industry:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Accell Group N.V.
• Avon Cycles Ltd.
• Benno Bikes LLC
• Cervélo (Pon Holdings B.V.)
• Dorel Industries Inc.
• Giant Manufacturing Co. Ltd.
• Kona Bicycle Company
• Merida Industry Co. Ltd.
• Olympus Bikes
• SCOTT Sports SA (Youngone Corporation)
• Specialized Bicycle Components Inc.
• Trek Bicycle Corporation (Roth Distributing Co. Inc.)

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Bicycle Market News:

• July 2025: Union Minister Bandi Sanjay Kumar launched the ‘Modi gift’ initiative in Husnabad, Telangana, distributing free bicycles to Class 10 students in government schools. The campaign aims to support education by providing mobility to students.
• July 2025: DJI launched its high-end e-bikes for high-performance mountain biking with cutting-edge technology. The two models, Amflow PL Carbon and Amflow PL Carbon Pro, are equipped with powerful electric motors, carbon fiber frames, and top-of-the-line suspension systems for rugged terrains.
• July 2025: Reliance Jio is set to launch its electric bicycle in India by the end of 2025, with an expected price range of ₹30,000 to ₹50,000. The e-bike will feature a long-range battery of up to 400 km per charge, a sleek design, and multiple riding modes, making it ideal for daily commuting. It will also offer fast charging and eco-friendly transportation with zero emissions.
• June 2024: Hello Space from Japan introduced the Mag Drive System Smart E-bike, an electric bicycle that can recharge its battery even while going uphill using innovative magnet technology. This system generated electricity not only during deceleration but also acceleration, allowing for longer rides without external charging.
• January 2024: OpenStreet launched Japan’s first sit-down electric cycle sharing service through its HELLO CYCLING app, offering a new mobility option that doesn’t require pedaling. These electric cycles, developed with glafit, operated fully on electric power, can switch between sidewalk and roadway modes, and required users to pass a safety test in the app.
• April 2024: Electric vehicle manufacturer LOBO EV Technologies Ltd. has signed a strategic partnership with Serbian distributor CSM2017 Doo to increase its market share in Eastern Europe. The collaboration centers on the CSM-01 e-bike, in line with the growing need for environmentally friendly mobility in the area.
• April 2024: In France, Yamaha Motor Manufacturing Europe SAS (YMME) has commenced production of an electrically power-assisted bicycle.
• April 2024: Free & Easy and State Bicycle Co. have launched the iconic Klunker bicycle, along with exclusive custom grips and frame bags.

Bicycle Market Report Scope:

Key Questions Answered in This Report:

• How has the global bicycle market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global bicycle market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the price?
• What is the breakup of the market based on the distribution channel?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global bicycle market and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the bicycle market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global bicycle market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the bicycle industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.