Bicycle Market: Current Analysis and Forecast (2025-2033)

Bicycle Market Size & Forecast

The Bicycle Market was valued at approximately USD 82.6 billion in 2024 and is expected to grow at a substantial CAGR of around 9.5% during the forecast period (2025-2033), owing to the surge in e-bike popularity.

Bicycle Market Analysis

Bicycles are frequently promoted by authorities as an ecologically friendly mode of transportation and are utilized as an efficient strategy to reduce pollution across the world. The factors such as growing disposable income and increased consumer expenditure on the bicycle sector, bikes are safe, simple to use, and require little maintenance, are driving the growth of the market. The market players are expanding their approach and operations to boost the growth of the market. For instance, in November 2021, PIERER Mobility AG acquired FELT Bicycles. With this acquisition, PIERER has planned to expand its operations in the North American market for bicycles. 

Bicycle Market Trends

This section discusses the key market trends influencing the various segments of the Bicycle Market as identified by our research experts.

Integration of Smart Technology

One recent development found in the bicycle market all over the world is the incorporation of advanced technology into bicycles to boost their utility and appeal to users. Other features that are turning out to be standard in modern car models include a GPS tracking system, Bluetooth connectivity, touch screen, and a mobile application interface, real-time performance analysis and diagnosis, and an advanced anti-theft system. This is not only suitable for urban citizens and fit freaks who believe in cycling but also can contribute to the world where connectivity in mobility solutions is smartening, safeguarding, and optimizing bicycles.

Bicycle Industry Segmentation

This section provides an analysis of the key trends in each segment of the global bicycle market report, along with forecasts at the global, regional, and country levels for 2025-2033.

The Road Bike Market Holds the Largest Share of the Bicycle Market.

Based on type, the market is segmented into mountain bikes, hybrid bikes, road bikes, cargo bikes, and others. Among them, the road bike market is expected to witness a higher CAGR during the forecast period. The factors such as lightweight and designed for swift riding on roads, are quite affordable, require less maintenance, and are used for commercial purposes like delivery, are driving the growth of the market.

The Online Segment is Expected to Witness a Higher CAGR than the Bicycle Market.

Based on distribution channel, the market is categorized into the market is categorized into online and offline. Among these, the online segment held a significant share of the market in 2024. The growing popularity of e-commerce in most regions, offers and discounts provided by e-commerce sectors, and convenience like home delivery are the major factors driving the growth of the market.

Asia Pacific has a significant share of the market in 2024.

The Asia-Pacific region is known to be on the path of rapid growth with reference to the bicycle market due to increasing concern for overall health, the fast pace of urbanization, and growing concern towards environmental issues. Exercising through cycling is becoming fashionable among Asians and other countries within the Asia-Pacific region. This growth has further been supported by an increase in cycling events as well as in the support that is offered to cyclists by the government and employers. The bicycle manufacturers’ industry is a highly competitive one and consists of various global and domestic participants such as Merida Industry Co. Ltd, Hero Cycles Limited, and Giant Manufacturing Co. Ltd. Such companies are expanding and innovating their manufacturing and production in the field of e-bicycles and aiming to enter Asian countries. For the overall progression in the Asia-Pacific bicycle business, the major players have intended strategies to capture various opportunities in the market.

China Dominates the APAC Bicycle Market

The china bicycle market is also providing added fuel by numerous forces such as concerns about health, the environment, and recommendations for affordable urban transport. Today, cycling is a sport, a means of transportation, and a means for communication, to interact with other people, which is engaged by the inhabitants of cities, especially young people between 27 and 39 years old. The current advancement in the emergence of Meituan Bike, Hello Bike has brought about a significant and positive change in the way people undertake their short trips in the town. Also, the claim for advanced and good-looking bicycles represents customers’ focus on quality and brands. The favorable policies that have been set up by the government, such as having well-developed bike lanes, besides promoting e-bikes, help fuel the market even more.

Bicycle Industry Competitive Landscape  

The Bicycle Market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Bicycle Companies

Some of the major players operating in the market are Intuitive Giant Bicycles; Trek Bicycle Corporation; Kalkhoff Werke (Derby Group); Brompton Bicycle Ltd; Avon Cycles Ltd.; Kona Bikes (Kent Outdoors); Accell Group (KKR & Co.); TII (Spectrum Brands); Dorel Industries; MERIDA BIKES

Recent Developments in the Bicycle Market

• 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.

• In January 2023, Orbea launched an E-road Bike named the 2023 Gain. The E-road bike is integrated with the Mahle X20 motor, providing 55Nm of torque, and is paired with a 350 Wh battery. The bike is available in sizes ranging from XS (47–49), S (51), L (55), XL (57), M (53), and XXL (60).

• In December 2022, Hero Cycles launched a D2C e-commerce website to facilitate a smooth and convenient buying experience for its customers. The company provides doorstep delivery across India, along with flexible payment options. This initiative helped boost the company's sales by providing easy access to customers.

Bicycle Market Report Coverage

Reasons to Buy the Bicycle Market Report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

• The report presents a quick review of overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional-level analysis of the industry.

Customization Options:

The global bicycle market can be customized further as per the requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.