Bicycle Market Forecast Report 2025-2033 | Asia-Pacific Leads the Global Bicycle Market as E-Bikes Gain Momentum in Urban Mobility - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Bicycle Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.

The Bicycle Market is expected to reach US$ 74.59 billion by 2033 from US$ 52.63 billion in 2024, with a CAGR of 3.95% from 2025 to 2033.

The main factors supporting the market share are the introduction of advantageous regulations by governmental organizations to reduce the amount of carbon emissions emitted by automobiles and the advancement of electric bicycles.

Urbanization, growing environmental consciousness, and a growing desire for sustainable mobility have all contributed to the continuous rise of the bicycle business worldwide. Bicycles are seen to be a more environmentally friendly option than vehicles since they lower carbon emissions and encourage healthy living. Traditional motorcycles, electric bikes (e-bikes), and accessories are only a few of the several segments that make up the business. Thanks to developments in battery technology, e-bikes in particular have grown significantly and are now a cost-effective choice for both leisure and commuting users. As more individuals choose outside activities and personal transportation in reaction to the COVID-19 epidemic, cycling has also become increasingly popular.

With China and India producing and using a big number of bicycles, Asia-Pacific continues to be the largest bicycle market. On the other hand, due to established cycling cultures and rising interest in sustainability and health, North America and Europe place a greater emphasis on high-end bikes and e-bikes. From producers to retailers, a variety of parties are involved in the bicycle industry's supply chain, and the market has changed as a result of the growth of direct-to-consumer business models via internet platforms. The sector is well-positioned for future growth in both established and emerging nations thanks to rising investments in infrastructure, such as bike lanes and cities that are bike-friendly.

With governments all over the world investing heavily in cycling facilities, infrastructure development has emerged as a key factor in the growth of the bicycle market. The Netherlands showed their commitment in November 2022 by committing over USD 1.2 billion to the construction of bike infrastructure. In a similar vein, the French government announced in May 2023 a comprehensive investment plan of EUR 2 billion through 2027 to improve cycling infrastructure and encourage the use of bicycles. The goals of these initiatives are to build linked bicycle networks in cities, enhance bike parking facilities, and extend designated bike lanes.

Trends in the bicycle business are still being driven by product innovation, with manufacturers concentrating on creating customized bikes for various consumer groups. To improve the riding experience, the industry has seen a boom in the creation of ergonomic features, lightweight materials, and aerodynamic designs. For example, the Giant Group introduced its Momentum brand of e-bikes in Germany in 2023. The PakYak E+ was designed for adventurous light load hauling, while the Voya E+ was designed for urban commuting. The industry's reaction to the various demands and preferences of its clientele is reflected in these advances.

Growth Drivers for the Bicycle Market

Increasing Attention to Wellness and Health

Cycling helps increase muscle strength, burn calories, and improve fitness levels. People are using sports like cycling to be active and maintain their fitness as they grow more health conscious. For example, Samagra Shiksha in Delhi has started a wellness club to teach students in grades 9 through 12 in government-run schools how to live healthy lifestyles. In addition, more individuals are using cycling to lower their risk and enhance their health as cardiovascular illnesses become more common. For example, recent research from the World Health Federation states that 20.5 million fatalities in 2021 were caused by cardiovascular diseases, which still affect over half a billion people globally. Bicycles are therefore widely used for fitness purposes all around the world.

Increasing Cycle Events

Bicycles are becoming more and more popular in trekking and leisure activities due to people's growing desire for adventurous pursuits, which is fueling the market's expansion. The demand for bicycles is also rising as a result of the participation and promotion of cycling by several public figures and celebrities. Additionally, by motivating individuals to establish objectives and prepare for a particular event, these activities advance fitness and health. After finishing the race, participants frequently report feeling more fit and accomplished.

Additionally, according to the Irish Sports Council, Sport Ireland gave Cycling Ireland about €520,000 in 2022 with the goal of encouraging patrons to participate in a variety of cycling-related events throughout the nation. The event's ultimate goal was to increase awareness of and acceptance of bicycles throughout the city. The market share of bicycles is supported by such awareness-raising campaigns.

Increasing Use of E-Bikes

Electric bicycles, or e-bikes, are becoming a more popular mode of transportation among customers due to rising gasoline prices and growing traffic in cities. It is anticipated that traffic density would increase as more people relocate to cities, making transportation even more difficult. According to UN estimates, 68% of people on Earth will reside in cities by 2050, which will worsen traffic. With the help of e-bikes, a wider spectrum of people - including those with physical restrictions or lower fitness levels - can now ride bikes. Riders can go farther and climb hills more easily with electric help. With programs like World Bicycle Day (June 3rd), which is supported by the UN and WHO, governments are encouraging this change and helping the e-bike sector expand.

Challenges in the Bicycle Market

High Cost of E-bikes

One major obstacle to the widespread adoption of electric bicycles, or 'e-bikes,' is their expensive cost, especially in poor nations. Due to its sophisticated technology, which includes electric motors, batteries, and controls, e-bikes are typically more costly than conventional bicycles. Increased production expenses as a result of these extra features are frequently passed on to customers. Even while e-bikes have advantages including longer travel times and simpler hill climbing, many prospective purchasers find their high cost prohibitive, particularly in areas with lower average earnings. Because of this, e-bikes are frequently viewed as a luxury good rather than a practical daily mode of transportation. Manufacturers may need to look for ways to lower production costs and provide more reasonably priced versions in order to boost acceptance.

Competition from Alternatives

Bicycles face fierce competition from electric scooters and ride-sharing services, especially when it comes to short-distance transport. For short, city trips, electric scooters are sometimes seen to be more practical since they provide effortless movement without the physical strain of riding. Furthermore, ride-sharing services - like renting an electric bike or scooter - offer a convenient, on-demand mode of transportation that does not need ownership or upkeep. In crowded places where parking availability and traffic congestion are major issues, these options are especially alluring. Although bicycles, particularly e-bikes, are environmentally friendly and have health advantages, the conventional bicycle industry is facing competition from electric scooters and ride-sharing services due to their popularity, ease of use, flexibility, and rapid availability.

Key Players Analyzed: Overview, Key Persons, Product Portfolio, Recent Development & Strategies, Revenue Analysis

• Accell Group NV
• Trek Bicycle Corporation
• Pon Holdings BV
• Giant Manufacturing Co. Ltd
• Bulls Bikes
• Pedego Inc.
• Benno Bikes LLC
• Hero Cycles Limited
• Ribble Cycles
• Riese Und Muller Gmbh

Key Attributes:

Key Topics Covered:

1. Introduction

2. Research & Methodology

2.1 Data Source

2.1.1 Primary Source

2.1.2 Secondary Source

2.2 Research Approach

2.3 Forecast Projection Methodology

3. Executive Summary

4. Market Dynamics

4.1 Growth Drivers

4.2 Challenges

5. Global Bicycle Market

5.1 Historical Market Trend

5.2 Market Forecast

6. Market Share Analysis

6.1 By Types

6.2 By Distribution Channels

6.3 By Countries

7. Type

7.1 Road Bicycle

7.2 Hybrid Bicycle

7.3 All Terrain Bicycle

7.4 E-Bicycle

7.5 Other Types

8. Distribution Channel

8.1 Online Stores

8.2 Offline Stores

9. Countries

9.1 North America

9.1.1 United States

9.1.2 Canada

9.2 Europe

9.2.1 France

9.2.2 Germany

9.2.3 Italy

9.2.4 Spain

9.2.5 United Kingdom

9.2.6 Belgium

9.2.7 Netherland

9.2.8 Turkey

9.3 Asia-Pacific

9.3.1 China

9.3.2 Japan

9.3.3 India

9.3.4 Australia

9.3.5 South Korea

9.3.6 Thailand

9.3.7 Malaysia

9.3.8 Indonesia

9.3.9 New Zealand

9.4 Latin America

9.4.1 Brazil

9.4.2 Mexico

9.4.3 Argentina

9.5 Middle East & Africa

9.5.1 South Africa

9.5.2 Saudi Arabia

9.5.3 UAE

10. Porter's Five Forces Analysis

10.1 Bargaining Power of Buyers

10.2 Bargaining Power of Suppliers

10.3 Degree of Rivalry

10.4 Threat of New Entrants

10.5 Threat of Substitutes

11. SWOT Analysis

11.1 Strength

11.2 Weakness

11.3 Opportunity

11.4 Threat

12. Key Players Analysis

For more information about this report visit https://www.researchandmarkets.com/r/mlfm9l

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