Bicycle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Technology, By Sales Channel, By Region & Competition, 2020-2030F
The Global Bicycle Market was valued at USD 54.8 billion in 2024 and is projected to reach USD 71.3 billion by 2030, growing at a CAGR of 4.40% during the forecast period. This market is gaining strong momentum as urban areas seek sustainable mobility solutions and consumers place greater emphasis on health and fitness. With increasing support from governments-such as the European Union's 2023 "European Declaration on Cycling," which emphasizes cycling as a tool for decarbonization-the global market is positioned for robust growth. Public investment in bike infrastructure, coupled with environmental, economic, and health incentives, is fostering a more bike-friendly ecosystem. Additionally, technological innovations in electric and connected bicycles, along with rising participation in outdoor recreational activities, are expanding the appeal of bicycles across diverse consumer segments. Manufacturers are leveraging these shifts by launching specialized and performance-driven models for urban commuting, fitness, and sport.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 54.8 Billion
Market Size 2030
USD 71.3 Billion
CAGR 2025-2030
4.40%
Fastest Growing Segment
Electric
Largest Market
Asia Pacific
Key Market Drivers
Rising Health and Fitness Awareness
Increasing global awareness about the health benefits of physical activity is a major factor boosting bicycle adoption. As individuals strive to incorporate exercise into their daily routines, cycling stands out as an accessible, low-impact workout that supports cardiovascular health, muscular endurance, and mental well-being. According to the World Health Organization, physical inactivity remains a global concern, especially in high-income countries. Promoting regular cycling could prevent thousands of premature deaths annually-particularly in Europe, where it is estimated that 15 minutes of cycling or walking daily could save 100,000 lives. Additionally, employers in regions like the UK report improved productivity from cycling employees, who take fewer sick days. These factors are making cycling an integral part of healthier lifestyle choices, appealing to a broad demographic range.
Key Market Challenges
Supply Chain Disruptions
The bicycle industry continues to face operational challenges due to ongoing supply chain disruptions. Shortages of essential components such as drivetrains, braking systems, and electronic assemblies are impacting production timelines and slowing down inventory turnover. The global logistics bottlenecks-including increased freight costs and delayed shipments-are further complicating distribution and fulfillment. These issues have forced manufacturers to reconsider their procurement strategies, with a growing shift toward regional sourcing, diversified supplier networks, and localized production to ensure resilience. Despite growing consumer demand, these logistical and material constraints are limiting market responsiveness and extending delivery cycles.
Key Market Trends
Smart and Connected Bicycles
Technological integration is emerging as a transformative trend in the global bicycle market. Smart bicycles equipped with features like GPS navigation, fitness tracking, anti-theft systems, and mobile app connectivity are gaining traction, especially among urban commuters and tech-conscious users. In March 2025, Jio announced plans to launch a smart electric bicycle targeting urban consumers with integrated features such as an 80 km range, GPS support, and 5G-enabled smartphone compatibility. Additional highlights include regenerative braking, intelligent pedal assist, real-time tracking, and over-the-air software updates. This integration within a broader digital ecosystem-including e-commerce and smart city services-demonstrates the market's direction toward enhanced user experience and mobility innovation. As technology evolves, smart bikes are poised to redefine how consumers interact with their vehicles and urban infrastructure.
Key Market Players
Accell Group N.V.
Derby Cycle Holding GmbH
Dorel Industries Inc.
Giant Manufacturing Co. Ltd.
Merida Industry Co., Ltd.
Pon Holdings B.V.
Scott Sports SA
Shimano Inc.
Specialized Bicycle Components, Inc.
Trek Bicycle Corporation
Report Scope:
In this report, the Global Bicycle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Bicycle Market, By Type:
Mountain Bikes
Road Bikes
Cargo Bikes
Others
Bicycle Market, By Technology:
Electric
Conventional
Bicycle Market, By Sales Channel:
Online
Offline
Bicycle Market, By Region:
North America
United States
Canada
Mexico
Europe & CIS
Germany
France
United Kingdom
Spain
Italy
Asia-Pacific
China
Japan
India
South Korea
Middle East & Africa
South Africa
Saudi Arabia
UAE
Turkey
South America
Brazil
Argentina
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Bicycle Market.
Available Customizations:
Global Bicycle Market report with the given market data, TechSci Research offers customizations according to the company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Introduction
1.1. Research Tenure Considered
1.2. Market Definition
1.3. Scope of the Market
1.4. Markets Covered
1.5. Years Considered for Study
1.6. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Regions
4. Global Bicycle Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Technology Market Share Analysis (Electric, Conventional)
4.2.2. By Type Market Share Analysis (Mountain Bikes, Road Bikes, Cargo Bikes, Others)
4.2.3. By Sales Channel Market Share Analysis (Online, Offline)
4.2.4. By Regional Market Share Analysis
4.2.5. By Top 5 Companies Market Share Analysis, Others (2024)