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Bicycle Market to Reach Valuation of US$ 82 Bn by 2030: Transparency Market Research

Consumer Goods |

Bicycle Market: Introduction

Transparency Market Research delivers key insights on the global bicycle market. In terms of revenue, the global bicycle market is estimated to expand at a growth rate of 5.5% during the forecast timeline, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global bicycle market report.

In the report, TMR predicts that the global bicycle market would be largely driven by growing bicycle production across the globe and growth in population, which has led to the adoption of bicycles globally, mainly in countries such as the U.S., Germany, China, and India that is expected to boost the growth of the bicycle market in the upcoming years.

In the bicycle market research report, in terms of type, the market has been divided into road bicycle, mountain bicycle, hybrid bicycle, touring bicycle, fitness bicycle, cruiser bicycle, cyclocross bicycle, and others. The demand for road bicycles is high at the global level. Major factors driving market growth of road and mountain bicycles are the health benefits that they offer, including increased cardiovascular fitness, muscle strength, and flexibility, improved joint mobility, decreased stress levels, better posture and coordination, strengthened bones, and lowered body fat levels. 

Based on technology, the global bicycle market has been classified into conventional and electric. The demand for electric bicycles is increasing at a higher pace. Battery powered cycle tops at 25 kmph, which means given a free road, it can travel 4 km in approximately 10 minutes. In the event of a roadblock, it can easily be maneuvered within the traffic, or bypass the main road via streets– a luxury that not even traditional two wheelers have. This is one of the greatest advantages of an electric bicycle.

In terms of gear type, the global bicycle market has been divided into without gear and with gear. Gearless bicycles are expected to have higher demand in the upcoming years. Gearless cycles are easy to use. Consumer do not have to worry about the correct gear combinations or shifting gears accurately. They can enjoy a simple ride and experience relaxation. Bicycles provide increased cardiovascular fitness, which is one of the market growth factors.

Bicycle Market: Prominent Regions

Asia Pacific accounted for a major share of the bicycle market in 2019. Increasing efforts to maintain a healthy lifestyle coupled with easy government rules and regulations pertaining to manufacturing units are expected to boost the growth of the market. North America is the second largest bicycle market as a result of high consumer adoption rate. Key factor driving the market growth in North America is rising demand for bicycles from health conscious people. The U.S. is one of the key COVID-19 affected countries, which is slowing down the market growth.

The COVID-19 pandemic in different European countries has had a major impact on this market. It has been observed that bicycle sales have dropped in the first quarter. However, after relaxation of lockdown, consumer demand for bicycles has increased drastically in Germany, France, Spain, and other European countries. Furthermore, consumer demand for premium products is driving the market, apart from high spending power of the middle class population.

Bicycle Market: Key Players

Some of the key players operating in the bicycle market are BMC Switzerland AG, Boardman Bikes Ltd, Cannondale Bicycle Corporation (Cycling Sports Group, Inc.), Firefox Bikes, Fuji Bike Worldwide, Giant Bicycle, SCOTT Sports SA, Shimano Inc., Specialized Bicycle Components, Inc., and Trek Bicycle Corporation.

Global Bicycle Market: Segmentation

Bicycle Market, by Type

  • Road Bicycle
  • Mountain Bicycle
  • Hybrid Bicycle
  • Touring Bicycle
  • Fitness Bicycle
  • Cruiser Bicycle
  • Cyclocross Bicycle
  • Others

Bicycle Market, by Size

  • XXS
  • XS
  • S
  • M
  • L
  • XL
  • XXL

Bicycle Market, by Technology

  • Conventional
  • Electric

Bicycle Market, by Gear Type

  • Without Gear
  • With Gear

Bicycle Market, by Suspension

  • Front Suspension
  • Full Suspension
  • No Suspension

Bicycle Market, by Price

  • Low
  • Medium
  • High

Bicycle Market, by End Use

  • Men
  • Women
  • Kids

Bicycle Market, by Distribution Channel

  • Online
    • e-Commerce Websites
    • Company-owned Websites
  • Offline
    • Multi Brand Stores
    • Specialty Stores
    • Others

Bicycle Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Western Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Nordic countries
    • Belgium
    • Netherlands
    • Luxembourg
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • New Zealand
    • Rest of APAC
  • Middle East & Africa
    • GCC Countries
    • Southern Africa
    • North Africa
    • Rest of Middle East & Africa
  • Latin America
    • Mexico
    • Brazil
    • Peru
    • Chile
    • Rest of Latin America

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.


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