The bicycle market would grow at a CAGR of 7.36% over the predicted time frame. The market is expected to increase in value from US$ 101.99 Bn in 2022 to US$ 180 Bn in 2030.
- The global bicycle market value is expected to reach US$ 180 billion by 2030
- Asia Pacific bicycle market was valued at US$ 17.69 billion in 2021
- By technology, the conventional segment accounted for 80% of the revenue share in 2021
- The electric bike segment is expected to grow at the highest CAGR of 10.3% from 2022 to 2030
- By product, the road bicycle segment captured a market share of 40% in 2021
- The online distribution channel accounted for 50% of the market share in 2021
- Europe is expected to grow at a CAGR of 10.5% from 2022 to 2030
- More than 1.9 billion adults were overweight in 2016
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Approximately 30% of the Global Bicycle Market Captured by Asia Pacific
Asia Pacific is the home to the largest population of the globe. The presence of huge consumer base, rising health awareness, growing obese population, rising disposable income, presence of several leading manufacturers of bicycles, and rising government expenditure towards the development of bicycle-friendly infrastructure are the prominent drivers of the bicycle market in Asia Pacific region. The nations like Japan, Singapore, and China are aggressively investing in building the infrastructure to promote bicycle commutation for short distances. Furthermore, the growing adoption of the electric bicycles among the people for its convenience and easy commute for long distances is boosting the demand for the electric bicycles. The rising popularity of the dockless bicycle sharing systems in the Asia Pacific region is expected to further fuel the growth of the market during the forecast period. The rising awareness among the population to stay healthy, active, and fit is boosting the adoption of bicycles as a convenient form of leisure activity and exercise. Therefore, the Asia Pacific bicycle market is expected to remain dominant throughout the forecast period.
Report Scope of the Bicycle Market
| Report Coverage | Details |
| Market Size by 2030 | USD 180 Billion |
| Growth Rate from 2022 to 2030 |
CAGR of 7.36% |
| Asia Pacific Market Share in 2021 | 31% |
| Road Bicycle Segment Market Share in 2021 | 41% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, Technology, Distribution Channel, End User, Price, Geography |
| Companies Mentioned | Trek Bicycle Corporation, Accell group, SCOTT Sports SA, Atlas Cycles Ltd., Specialized Bicycles Components, Inc., Avon Cycles Ltd., Merida Industry Co. Ltd., Cervelo, Giant Bicycles, Dorel Industries Inc. |
Some of the prominent players in the global bicycle market include:
- Trek Bicycle Corporation
- Accell group
- SCOTT Sports SA
- Atlas Cycles Ltd.
- Specialized Bicycles Components, Inc.
- Avon Cycles Ltd.
- Merida Industry Co. Ltd.
- Cervelo
- Giant Bicycles
- Dorel Industries Inc.
Segments Covered in the Report
By Product
- Hybrid Bikes
- Mountain Bikes
- Cargo Bikes
- Road Bikes
- All Terrain Bicycle
- E-bicycle
- Others
By Technology
- Conventional
- Electric
By Distribution Channel
- Online
- Offline
By End User
- Men
- Women
- Kids
By Price
- Premium
- Mid Range
- Low Range
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
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