Bicycle Market

Global Bicycle Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 – (By Bike Category, By Bike Type, By Price, By End-use, By Geographic Coverage and By Company)

Published Date: Jul 2025 | Format: | No. of Pages: 193

Industry: Consumer Goods & Services


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Bicycle Market Growth and Industry Forecast

  • The global bicycle market size is likely to be valued at US$ 120.1 Bn in 2025 and is projected to reach US$ 168.2 Bn by 2032, growing with a CAGR of 4.9% from 2025 to 2032.
  • Key growth drivers include the rising demand for eco-friendly transport, growing health awareness, advancements in e-bike technology, and supportive urban infrastructure initiatives. 

bicycle market snapshot 2025 - 2032

Bicycle Market Summary: Key Insights & Trends

  • City bicycles led the global market in 2024, capturing over 35% share due to rising urban commuting and smart mobility initiatives.
  • Electric bikes are the fastest-growing type, projected to expand at a CAGR of 7.6% through 2032, fueled by subsidies and eco-conscious commuting.
  • Men and Kids segments accounted for over 50% of global sales, driven by gender and age-specific designs and recreational cycling trends.
  • The Low-Range (below US$ 500) price segment dominated volume sales, offering the best value across economic-bicycle categories.
  • Cargo bikes are gaining traction in urban logistics, with an expected CAGR of 8.2%, especially in Europe’s last-mile delivery ecosystem.
  • Asia Pacific remains the largest regional bicycle market with over 55% share, while the Middle East & Africa is poised for the fastest growth at 6.4% CAGR, led by traditional and low-cost bicycle demand.

A Look Back and a Look Forward - Comparative Analysis

The bicycle market from 2019 to 2024 experienced significant fluctuations, with a surge in demand during the COVID-19 pandemic as consumers sought outdoor activities and alternative transportation amid lockdowns. The e-bike sales boomed, particularly in urban areas, with global sales rising sharply in 2020–2021 due to restricted public transport and heightened health awareness. However, supply chain disruptions, including semiconductor shortages and shipping delays, have constrained production, leading to price hikes and delivery bottlenecks.

E-bikes and smart bicycles are expected to lead, fueled by innovations in battery technology and connectivity features such as GPS and IoT integration. Urbanization and government incentives for green transport will drive demand, particularly in Asia Pacific and Europe. While North America will witness steady growth, emerging markets in India and Southeast Asia are expected to outpace others due to rising disposable incomes and cycling adoption. Challenges such as raw material costs may persist, but opportunities in cargo bikes and shared mobility solutions will shape the market’s future.

Key Growth Drivers

  • Bicycle Electrification is Gaining Popularity as Eco-Friendly Mobility Solution Amid Growing Climate Concerns

Growing concerns about carbon emissions and climate change are propelling the market. Consumers increasingly prefer bicycles as a sustainable alternative to motorized vehicles. Governments worldwide are implementing policies to reduce urban pollution, offering subsidies for e-bikes and developing cycling infrastructure. For instance, the U.S. and Europe have invested heavily in bike lanes, boosting bicycle adoption.

In 2024, e-bikes accounted for a significant share of the market, with sales growing by 10% annually due to their eco-friendly appeal. Urbanization, particularly in the Asia Pacific region, further drives demand for compact, green transport solutions such as bicycles. The shift toward sustainable lifestyles, coupled with rising fuel costs, encourages consumers to opt for bicycles for short commutes and recreational purposes, significantly contributing to the growth trajectory of the bicycle market.

  • Health Trends Drive Bicycle Demand as Fitness and Wellness Tools Rise Globally

The global rise in health consciousness is significantly boosting the Bicycle Market. Cycling is recognized as an effective low-impact exercise, promoting physical fitness and mental well-being. In 2024, over 60% of cyclists purchased performance and trekking bikes for fitness purposes. Government campaigns, such as those in the U.S. and Europe, promote cycling to combat obesity and sedentary lifestyles, driving demand for road and performance bikes.

The trend of “cycling-to-work” has gained traction, with urban consumers opting for city bikes equipped with smart accessories such as speedometers. Social media and fitness apps further amplify this trend, encouraging recreational cycling. The market benefits from growing consumer awareness of sustainable and healthy lifestyles.

bicycle market size 2025 - 2032

Key Growth Restraints

  • Material Shortages and Logistics Delays Impact Global Bike Production and Availability

Bicycle industry faces challenges due to persistent supply chain disruptions. Shortages of raw materials such as aluminum and carbon fiber, coupled with logistical bottlenecks, have increased production costs and delayed deliveries. In 2024, manufacturers reported a 15% rise in component costs, affecting affordability, particularly for low-range bikes.

These disruptions limit market scalability, especially for small and mid-sized manufacturers, and negatively impact the bicycle demand, potentially slowing growth in price-sensitive economies.

  • Expensive E-Bikes Hinder Adoption in Cost-Sensitive Developing and Emerging Markets

The high upfront cost of electric bicycles is a significant restraint. Premium e-bikes, priced between US$ 2,000 and US$ 5,000, remain unaffordable for many consumers, particularly in developing economies. Despite advancements, battery and motor technology costs keep prices elevated, limiting adoption in low- and mid-range segments.

In 2024, e-bikes accounted for only 20% of total bike sales in price-sensitive markets such as India. This cost barrier restricts market penetration, slowing the growth in regions where affordability is a key concern, despite rising demand for eco-friendly commute.

Bicycle Market Trends and Opportunities

  • New Bike Lane Infrastructure and Government Policies Boost Cycling Adoption in Urban Environments

Investments in cycling infrastructure present significant opportunities for the Bicycle Market. Governments in North America, Europe, and the Asia Pacific are developing bike lanes and urban mobility plans to promote cycling. For example, the U.S. allocated US$ 1.2 Bn for cycling infrastructure in 2024. These initiatives encourage bicycle adoption for commuting and recreation, boosting demand for city and electric bikes.

The bicycle market can capitalize on this trend by offering affordable, urban-friendly models. Partnerships with municipalities for bike-sharing programs further enhance growth prospects, particularly in densely populated cities, driving market expansion.

  • IoT and GPS-enhanced Bikes Attract Tech-Savvy Commuters and Modern Riders

The integration of smart technologies offers a transformative opportunity. User-friendly features such as IoT-enabled tracking, GPS navigation, and fitness monitoring appeal to tech-savvy consumers. In 2025, the smart bicycle accessories market is expected to reach US$ 2 Bn, with a projected CAGR of 8% from 2025 to 2032. Manufacturers are developing bikes with connected apps for performance tracking, enhancing user experience. E-bikes with smart displays and anti-theft systems are gaining traction, particularly in urban areas. Therefore, the key players can leverage this trend by innovating affordable smart bikes, attracting younger demographics and boosting sales.

Segment-wise Trends & Analysis

  • City Bikes Dominate Usage While Performance Bikes Lead in Growth

City bikes continue to dominate, with more 40% market share in 2025 due to their versatility for commuting and short trips. Their affordability and suitability for urban infrastructure drive demand, especially in Asia Pacific region. Performance bikes, designed for fitness and competitive cycling, are the fastest-growing segment, with a projected CAGR of 5% through 2032. Increasing health consciousness and participation in cycling events fuel this growth. The bicycle market benefits from the rising popularity of performance bikes among fitness enthusiasts globally.

  • The E-bikes Market Outpaces All Categories in Sales and Growth Potential

The e-bikes segment is expected to outpace the traditional bicycles segment, rising its market share from 45% in 2025 to just above 55% by 2032. The market growth is driven by advancements in battery technology and eco-friendly commuting trends. Their convenience for longer commutes and appeal to older consumers boost adoption. The bicycle Market witness a strong e-bike demand in urban areas, particularly in Europe and Asia Pacific, as consumers prioritize sustainable transport.

  • Low-Range Bicycles Dominate Volume Sales with Strong Market Penetration

Low-range bicycles, priced below US$ 500, account for nearly 50% of total volume sales in 2024, making them the largest segment by unit demand. These bikes are especially popular in price-sensitive markets and among entry-level riders, students, and daily commuters. High demand in developing regions such as India, China, and the Middle East & Africa continues to drive growth, supported by rising urban mobility needs and expanding local manufacturing.

  • Men Drive Majority of Sales, While Kids’ Segment Gains Momentum

Men continue to dominate for more than 50% of sales in 2024, driven by demand for performance and electric bikes for commuting and fitness. Cultural preferences and higher purchasing power contribute to this trend. The kids’ segment is the fastest growing, with a CAGR of 6% through 2032, fueled by increasing parental focus on outdoor activities and child fitness. The market sees rising demand for affordable, safe kids’ bikes, particularly in North America and Europe.

Regional Trends & Analysis

  • North America Rides Growth Wave with E-Bike Adoption and Infrastructure Boost

The U.S. leads the North American Bicycle Market, valued at US$ 2.5 Bn for accessories alone in 2025. Rising health awareness and government investments in cycling infrastructure, such as US$ 1.2 Bn for bike lanes, drive demand for city and e-bikes. Urban commuters increasingly adopt e-bikes for convenience, with sales. The trend of “cycling-to-work” boosts demand for smart accessories such as speedometers. The market in the U.S. is expected to grow steadily, supported by eco-conscious consumers and favourable policies promoting sustainable transport.

bicycle market by region 2025 - 2032

  • Germany and the Netherlands Power Europe’s Sustainable Market Expansion

Germany and the Netherlands lead the European market, driven by robust cycling infrastructure and cultural acceptance of biking. Germany’s e-bike sales grew by 12% in 2024, supported by government subsidies and urban mobility initiatives. The Netherlands, with over 30,000 km of bike paths, sees a high demand for city and cargo bikes. Environmental awareness and policies reducing car usage further boost the bicycle market. Smart technology integration in bikes enhance consumer appeal. These countries are expected to fuel more growth, with e-bikes and urban bikes leading due to sustainability trends.

  • Asia Pacific Bicycle Market Surges with China’s E-Bike Boom and India’s Urban Growth

Asia Pacific dominates the global market, with China and India as key drivers. China’s focus on green mobility, supported by government schemes such as trade-in programs, tax benefits with sales reaching 48 million units in 2024, further driving e-bike adoption. India’s growing urbanization and fitness trends boost demand for mid-range and kids’ bikes, with a projected CAGR of 8% during the forecast period. Rising environmental awareness and affordable e-bike innovations, further strengthens the region’s position as a global leader.

Competitive Landscape

The global bicycle market is highly fragmented, with key players such as Trek Bicycle Corporation, Giant Manufacturing Co. Ltd., and Accell Group N.V. focusing on innovation, sustainability, and market expansion. Companies are investing in e-bike R&D, lightweight materials, and smart technology integration to attract consumers. Strategic partnerships with bike-sharing platforms and aggressive marketing campaigns targeting urban commuters and fitness enthusiasts are common.

Key Companies

  • Trek Bicycle Corporation
  • Giant Manufacturing Co. Ltd.
  • Accell Group N.V.
  • Merida Industry Co. Ltd.
  • Pon Holdings BV
  • Specialized Bicycle Components
  • Scott Sports SA
  • Cannondale Bicycle Corporation
  • Hero Cycles Ltd.
  • Fuji Bikes
  • BMC Switzerland AG
  • Cube Bikes
  • Raleigh Bicycle Company
  • Diamondback Bicycles
  • Kona Bicycle Company

Recent Industry Developments:

  • Trek Bicycle Corporation’s E-Bike Launch (2025): Trek introduced the FX+ 1 in May 2025, its first-ever throttle-assisted e‑bike, targeting urban commuters in North America. Equipped with a 500 W hub motor, 540 Wh battery, and a range of up to 50 miles, this move marks a shift toward more versatile, accessible e‑mobility and helps Trek expand its market presence.
  • Trek Bicycle Corporation’s E-Bike Launch (2025): In early 2025, Trek unveiled a new, compact motor for its Fuel EXe e‑ It’s 20% smaller, quieter, and offers smoother boost control, enhancing rider confidence and performance in technical terrain. This innovation positions Trek as a front-runner in premium e‑mountain bike experiences.
  • Giant Manufacturing Co. Ltd. Expansion (2025): Giant Group opened its first brand experience store in Budapest in May 2025 and is launching a directly operated store in Thailand in mid‑ These moves strengthen Giant’s regional presence, deepen customer engagement, and support Southeast Asia’s ~2 million-unit yearly bicycle market.

Global Bicycle Market Segmentation:

By Bike Category

  • Road
  • Gravel & Touring
  • Mountain Bike (MTB)/Trekking
  • Performance/Race
  • Cargo bikes
  • City/Urban

By Bike Type

  • Electric
  • Traditional

By Price

  • Low-Range (Below US$ 500)
  • Mid-Range (US$ 500 – 1,000)
  • Premium (Above US$ 1,000)

By End-use

  • Women
  • Men
  • Kids

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

1. Executive Summary
    1.1. Global Bicycle Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2025
    1.5. Analyst Recommendations

2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
        2.2.1. Drivers
        2.2.2. Restraints
        2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. COVID-19 Impact Analysis
    2.5. Porter's Fiver Forces Analysis
    2.6. Impact of Russia-Ukraine Conflict
    2.7. PESTLE Analysis
    2.8. Regulatory Analysis
    2.9. Price Trend Analysis
        2.9.1. Current Prices and Future Projections, 2024-2032
        2.9.2. Price Impact Factors

3. Global Bicycle Market Outlook, 2019 - 2032
    3.1. Global Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        3.1.1. Road
        3.1.2. Gravel & Touring
        3.1.3. Mountain Bike (MTB)/Trekking
        3.1.4. Performance/Race
        3.1.5. Cargo bikes
        3.1.6. City/Urban
    3.2. Global Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        3.2.1. Electric
        3.2.2. /Traditional
    3.3. Global Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        3.3.1. Low-Range (Below US$ 500)
        3.3.2. Mid-Range (US$ 500 – 1,000)
        3.3.3. Premium (Above US$ 1,000)
    3.4. Global Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        3.4.1. Women
        3.4.2. Men
        3.4.3. Kids
    3.5. Global Bicycle Market Outlook, by Region, Value (US$ Bn) & Volume (Units), 2019 - 2032
        3.5.1. North America
        3.5.2. Europe
        3.5.3. Asia Pacific
        3.5.4. Latin America
        3.5.5. Middle East & Africa

4. North America Bicycle Market Outlook, 2019 - 2032
    4.1. North America Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        4.1.1. Road
        4.1.2. Gravel & Touring
        4.1.3. Mountain Bike (MTB)/Trekking
        4.1.4. Performance/Race
        4.1.5. Cargo bikes
        4.1.6. City/Urban
    4.2. North America Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        4.2.1. Electric
        4.2.2. /Traditional
    4.3. North America Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        4.3.1. Low-Range (Below US$ 500)
        4.3.2. Mid-Range (US$ 500 – 1,000)
        4.3.3. Premium (Above US$ 1,000)
    4.4. North America Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        4.4.1. Women
        4.4.2. Men
        4.4.3. Kids
    4.5. North America Bicycle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019 - 2032
        4.5.1. U.S. Bicycle Market Outlook, by Bike Category, 2019 - 2032
        4.5.2. U.S. Bicycle Market Outlook, by Bike Type, 2019 - 2032
        4.5.3. U.S. Bicycle Market Outlook, by Price, 2019 - 2032
        4.5.4. U.S. Bicycle Market Outlook, by End Use, 2019 - 2032
        4.5.5. Canada Bicycle Market Outlook, by Bike Category, 2019 - 2032
        4.5.6. Canada Bicycle Market Outlook, by Bike Type, 2019 - 2032
        4.5.7. Canada Bicycle Market Outlook, by Price, 2019 - 2032
        4.5.8. Canada Bicycle Market Outlook, by End Use, 2019 - 2032
    4.6. BPS Analysis/Market Attractiveness Analysis

5. Europe Bicycle Market Outlook, 2019 - 2032
    5.1. Europe Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        5.1.1. Road
        5.1.2. Gravel & Touring
        5.1.3. Mountain Bike (MTB)/Trekking
        5.1.4. Performance/Race
        5.1.5. Cargo bikes
        5.1.6. City/Urban
    5.2. Europe Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        5.2.1. Electric
        5.2.2. /Traditional
    5.3. Europe Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        5.3.1. Low-Range (Below US$ 500)
        5.3.2. Mid-Range (US$ 500 – 1,000)
        5.3.3. Premium (Above US$ 1,000)
    5.4. Europe Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        5.4.1. Women
        5.4.2. Men
        5.4.3. Kids
    5.5. Europe Bicycle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019 - 2032
        5.5.1. Germany Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.2. Germany Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.3. Germany Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.4. Germany Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.5. Italy Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.6. Italy Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.7. Italy Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.8. Italy Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.9. France Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.10. France Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.11. France Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.12. France Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.13. U.K. Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.14. U.K. Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.15. U.K. Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.16. U.K. Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.17. Spain Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.18. Spain Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.19. Spain Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.20. Spain Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.21. Russia Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.22. Russia Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.23. Russia Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.24. Russia Bicycle Market Outlook, by End Use, 2019 - 2032
        5.5.25. Rest of Europe Bicycle Market Outlook, by Bike Category, 2019 - 2032
        5.5.26. Rest of Europe Bicycle Market Outlook, by Bike Type, 2019 - 2032
        5.5.27. Rest of Europe Bicycle Market Outlook, by Price, 2019 - 2032
        5.5.28. Rest of Europe Bicycle Market Outlook, by End Use, 2019 - 2032
    5.6. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Bicycle Market Outlook, 2019 - 2032
    6.1. Asia Pacific Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        6.1.1. Road
        6.1.2. Gravel & Touring
        6.1.3. Mountain Bike (MTB)/Trekking
        6.1.4. Performance/Race
        6.1.5. Cargo bikes
        6.1.6. City/Urban
    6.2. Asia Pacific Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        6.2.1. Electric
        6.2.2. /Traditional
    6.3. Asia Pacific Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        6.3.1. Low-Range (Below US$ 500)
        6.3.2. Mid-Range (US$ 500 – 1,000)
        6.3.3. Premium (Above US$ 1,000)
    6.4. Asia Pacific Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        6.4.1. Women
        6.4.2. Men
        6.4.3. Kids
    6.5. Asia Pacific Bicycle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019 - 2032
        6.5.1. China Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.2. China Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.3. China Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.4. China Bicycle Market Outlook, by End Use, 2019 - 2032
        6.5.5. Japan Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.6. Japan Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.7. Japan Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.8. Japan Bicycle Market Outlook, by End Use, 2019 - 2032
        6.5.9. South Korea Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.10. South Korea Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.11. South Korea Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.12. South Korea Bicycle Market Outlook, by End Use, 2019 - 2032
        6.5.13. India Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.14. India Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.15. India Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.16. India Bicycle Market Outlook, by End Use, 2019 - 2032
        6.5.17. Southeast Asia Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.18. Southeast Asia Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.19. Southeast Asia Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.20. Southeast Asia Bicycle Market Outlook, by End Use, 2019 - 2032
        6.5.21. Rest of SAO Bicycle Market Outlook, by Bike Category, 2019 - 2032
        6.5.22. Rest of SAO Bicycle Market Outlook, by Bike Type, 2019 - 2032
        6.5.23. Rest of SAO Bicycle Market Outlook, by Price, 2019 - 2032
        6.5.24. Rest of SAO Bicycle Market Outlook, by End Use, 2019 - 2032
    6.6. BPS Analysis/Market Attractiveness Analysis

7. Latin America Bicycle Market Outlook, 2019 - 2032
    7.1. Latin America Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        7.1.1. Road
        7.1.2. Gravel & Touring
        7.1.3. Mountain Bike (MTB)/Trekking
        7.1.4. Performance/Race
        7.1.5. Cargo bikes
        7.1.6. City/Urban
    7.2. Latin America Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        7.2.1. Electric
        7.2.2. /Traditional
    7.3. Latin America Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        7.3.1. Low-Range (Below US$ 500)
        7.3.2. Mid-Range (US$ 500 – 1,000)
        7.3.3. Premium (Above US$ 1,000)
    7.4. Latin America Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        7.4.1. Women
        7.4.2. Men
        7.4.3. Kids
    7.5. Latin America Bicycle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019 - 2032
        7.5.1. Brazil Bicycle Market Outlook, by Bike Category, 2019 - 2032
        7.5.2. Brazil Bicycle Market Outlook, by Bike Type, 2019 - 2032
        7.5.3. Brazil Bicycle Market Outlook, by Price, 2019 - 2032
        7.5.4. Brazil Bicycle Market Outlook, by End Use, 2019 - 2032
        7.5.5. Mexico Bicycle Market Outlook, by Bike Category, 2019 - 2032
        7.5.6. Mexico Bicycle Market Outlook, by Bike Type, 2019 - 2032
        7.5.7. Mexico Bicycle Market Outlook, by Price, 2019 - 2032
        7.5.8. Mexico Bicycle Market Outlook, by End Use, 2019 - 2032
        7.5.9. Argentina Bicycle Market Outlook, by Bike Category, 2019 - 2032
        7.5.10. Argentina Bicycle Market Outlook, by Bike Type, 2019 - 2032
        7.5.11. Argentina Bicycle Market Outlook, by Price, 2019 - 2032
        7.5.12. Argentina Bicycle Market Outlook, by End Use, 2019 - 2032
        7.5.13. Rest of LATAM Bicycle Market Outlook, by Bike Category, 2019 - 2032
        7.5.14. Rest of LATAM Bicycle Market Outlook, by Bike Type, 2019 - 2032
        7.5.15. Rest of LATAM Bicycle Market Outlook, by Price, 2019 - 2032
        7.5.16. Rest of LATAM Bicycle Market Outlook, by End Use, 2019 - 2032
    7.6. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Bicycle Market Outlook, 2019 - 2032
    8.1. Middle East & Africa Bicycle Market Outlook, by Bike Category, Value (US$ Bn) & Volume (Units), 2019 - 2032
        8.1.1. Road
        8.1.2. Gravel & Touring
        8.1.3. Mountain Bike (MTB)/Trekking
        8.1.4. Performance/Race
        8.1.5. Cargo bikes
        8.1.6. City/Urban
    8.2. Middle East & Africa Bicycle Market Outlook, by Bike Type, Value (US$ Bn) & Volume (Units), 2019 - 2032
        8.2.1. Electric
        8.2.2. /Traditional
    8.3. Middle East & Africa Bicycle Market Outlook, by Price, Value (US$ Bn) & Volume (Units), 2019 - 2032
        8.3.1. Low-Range (Below US$ 500)
        8.3.2. Mid-Range (US$ 500 – 1,000)
        8.3.3. Premium (Above US$ 1,000)
    8.4. Middle East & Africa Bicycle Market Outlook, by End Use, Value (US$ Bn) & Volume (Units), 2019 - 2032
        8.4.1. Women
        8.4.2. Men
        8.4.3. Kids
    8.5. Middle East & Africa Bicycle Market Outlook, by Country, Value (US$ Bn) & Volume (Units), 2019 - 2032
        8.5.1. GCC Bicycle Market Outlook, by Bike Category, 2019 - 2032
        8.5.2. GCC Bicycle Market Outlook, by Bike Type, 2019 - 2032
        8.5.3. GCC Bicycle Market Outlook, by Price, 2019 - 2032
        8.5.4. GCC Bicycle Market Outlook, by End Use, 2019 - 2032
        8.5.5. South Africa Bicycle Market Outlook, by Bike Category, 2019 - 2032
        8.5.6. South Africa Bicycle Market Outlook, by Bike Type, 2019 - 2032
        8.5.7. South Africa Bicycle Market Outlook, by Price, 2019 - 2032
        8.5.8. South Africa Bicycle Market Outlook, by End Use, 2019 - 2032
        8.5.9. Egypt Bicycle Market Outlook, by Bike Category, 2019 - 2032
        8.5.10. Egypt Bicycle Market Outlook, by Bike Type, 2019 - 2032
        8.5.11. Egypt Bicycle Market Outlook, by Price, 2019 - 2032
        8.5.12. Egypt Bicycle Market Outlook, by End Use, 2019 - 2032
        8.5.13. Nigeria Bicycle Market Outlook, by Bike Category, 2019 - 2032
        8.5.14. Nigeria Bicycle Market Outlook, by Bike Type, 2019 - 2032
        8.5.15. Nigeria Bicycle Market Outlook, by Price, 2019 - 2032
        8.5.16. Nigeria Bicycle Market Outlook, by End Use, 2019 - 2032
        8.5.17. Rest of Middle East Bicycle Market Outlook, by Bike Category, 2019 - 2032
        8.5.18. Rest of Middle East Bicycle Market Outlook, by Bike Type, 2019 - 2032
        8.5.19. Rest of Middle East Bicycle Market Outlook, by Price, 2019 - 2032
        8.5.20. Rest of Middle East Bicycle Market Outlook, by End Use, 2019 - 2032
    8.6. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape
    9.1. Company Vs Segment Heatmap
    9.2. Company Market Share Analysis, 2024
    9.3. Competitive Dashboard
    9.4. Company Profiles
        9.4.1. Trek Bicycle Corporation
            9.4.1.1. Company Overview
            9.4.1.2. Product Portfolio
            9.4.1.3. Financial Overview
            9.4.1.4. Business Strategies and Developments
        9.4.2. Giant Manufacturing Co. Ltd.
            9.4.2.1. Company Overview
            9.4.2.2. Product Portfolio
            9.4.2.3. Financial Overview
            9.4.2.4. Business Strategies and Developments
        9.4.3. Accell Group N.V.
            9.4.3.1. Company Overview
            9.4.3.2. Product Portfolio
            9.4.3.3. Financial Overview
            9.4.3.4. Business Strategies and Developments
        9.4.4. Merida Industry Co. Ltd.
            9.4.4.1. Company Overview
            9.4.4.2. Product Portfolio
            9.4.4.3. Financial Overview
            9.4.4.4. Business Strategies and Developments
        9.4.5. Pon Holdings BV
            9.4.5.1. Company Overview
            9.4.5.2. Product Portfolio
            9.4.5.3. Financial Overview
            9.4.5.4. Business Strategies and Developments
        9.4.6. Specialized Bicycle Components
            9.4.6.1. Company Overview
            9.4.6.2. Product Portfolio
            9.4.6.3. Financial Overview
            9.4.6.4. Business Strategies and Developments
        9.4.7. Scott Sports SA
            9.4.7.1. Company Overview
            9.4.7.2. Product Portfolio
            9.4.7.3. Financial Overview
            9.4.7.4. Business Strategies and Developments
        9.4.8. Cannondale Bicycle Corporation
            9.4.8.1. Company Overview
            9.4.8.2. Product Portfolio
            9.4.8.3. Financial Overview
            9.4.8.4. Business Strategies and Developments
        9.4.9. Hero Cycles Ltd.
            9.4.9.1. Company Overview
            9.4.9.2. Product Portfolio
            9.4.9.3. Financial Overview
            9.4.9.4. Business Strategies and Developments
        9.4.10. Fuji Bikes
            9.4.10.1. Company Overview
            9.4.10.2. Product Portfolio
            9.4.10.3. Financial Overview
            9.4.10.4. Business Strategies and Developments

10. Appendix
    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2024

 

2019 - 2024

2025 - 2032

Value: US$ Billion

 

REPORT FEATURES

DETAILS

Bike Category Coverage

  • Road
  • Gravel & Touring
  • Mountain Bike (MTB)/Trekking
  • Performance/Race
  • Cargo bikes
  •  City/Urban

Bike Type Coverage 

  • Electric
  • Traditional

Price Coverage

  • Low-Range (Below US$ 500)
  • Mid-Range (US$ 500 – 1,000)
  • Premium (Above US$ 1,000)

End Use Coverage

  • Women
  • Men
  • Kids

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of EU
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil 
    • Mexico 
    • Rest of Latin America 
  • The Middles East & Africa
    • GCC Countries 
    • South Africa 
    • Rest of Middle East & Africa

Leading Companies

  • Trek Bicycle Corporation
  • Giant Manufacturing Co. Ltd.
  • Accell Group N.V.
  • Merida Industry Co. Ltd.
  • Pon Holdings BV
  • Specialized Bicycle Components
  • Scott Sports SA
  • Cannondale Bicycle Corporation
  • Hero Cycles Ltd.
  • Fuji Bikes
  • BMC Switzerland AG
  • Cube Bikes
  • Raleigh Bicycle Company
  • Diamondback Bicycles
  • Kona Bicycle Company

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical Trend (2019-2024), Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Bicycle Market

The bicycle market size is valued at US$ 120.1 Bn in 2025.

The bicycle market is projected to grow at a CAGR of 4.9% by 2032, reaching US$ 168.2 Bn.

The bicycle market growth drivers include rising demand for eco-friendly transportation, increasing health and fitness trends, and technological advancements in e-bikes.

Asia Pacific is a dominating region for the bicycle market, accounting for over 55% share in 2025.

Key players in the global bicycle market include Trek Bicycle Corporation, Giant Manufacturing Co. Ltd., Accell Group N.V., Merida Industry Co. Ltd., and Pon Holdings BV.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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