The global bicycle market size was US$ 21,639.7 million in 2021. The global bicycle market size is forecast to reach US$ 31,487.5 million by 2030, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2022 to 2030.

Bicycles are an environmentally beneficial way of transportation. It also comes in a variety of styles, including cargo bikes, electric bikes, and mountain bikes. A bicycle is easy to ride and is one of the safest ways of transportation. Furthermore, significant bicycle clubs such as Go Out and Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club all have the same goal in mind: to boost customer interest in cycling. As a result, they arrange a variety of sports events, recreational activities, bike rallies, and competitions to encourage people to ride bicycles.

Factors Influencing Market Growth

Among the factor driving the global market include the growing disposable income and rising consumer spending in the bicycle industry.
Cycling in adverse weather conditions is unsafe, and the lower durability of batteries in electric bikes may slow down the overall market growth.
The primary factor fueling the global market includes that these bicycles do not need a driving license, allowing consumers of various age groups to drive these bikes.
Impact Analysis of COVID-19

The COVID-19 pandemic had a minimal impact on the global bicycle market. The growth in health consciousness among people and preference for bicycles as cheaper means of exercising and traveling short distances has increased the demand. In addition, the execution of stringent standards such as social distancing during the COVID-19 pandemic has forced individuals to avoid gathering in gyms and travel via public transport, which, in turn, increased the demand for bicycles.

Regional Insights

The Asia Pacific region held dominant in the market in 2021 and is forecast to maintain its position during the forecast period. Countries like China, Japan, and Singapore highlight moving out the infrastructure essential to promote and support bicycle commutation. Major cities in the region are known for their lower casualty rates, considered ideal cities for urban bicycling. In addition, Chinese bicycle-sharing firms are aggressively targeting countries such as India and Australia in order to grow their operations. Thus, these factors are forecast to fuel the market growth in the region.

Leading Competitors

The leading prominent companies profiled in the global bicycle market are:

Accell Group
Cervlo
Dorel Industries Inc.
Giant Bicycles
Merida Industries Co., Ltd.
Olympus Bikes
Scott Sports SA
Specialized Bicycle Components, Inc.
Trek Bicycle Corporation
Kona Bicycle Company
Other Prominent Players
Scope of the Report

The global bicycle market segmentation focuses on Type, Sales Channel, End-Users, and Region.

Segmentation based on Type

Cargo Electric Bike
Non-Cargo Electric Bike
Cargo Nonelectric Bike
Non-Cargo Nonelectric Bike
Segmentation based on Sales Channel

Online Platforms
Physical Stores
Segmentation based on End-Users

Men
Women
Kids
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America