Bicycle Market Size, Share & Trends Analysis , 2033 | UnivDatos

The Bicycle Market was valued at approximately USD 82.6 billion in 2024 and is expected to grow at a substantial CAGR of around 9.5% during the forecast period (2025-2033). A bicycle is widely recognized as an eco-friendly mode of transportation, available in various forms such as cargo bikes, electric bikes, and mountain bikes. Bicycles are simple to operate, beneficial for personal health, and are considered one of the safest modes of transport. The global bicycle market is gaining momentum due to an increasing number of sports events, recreational activities, and bike rallies.

Moreover, growing urban road congestion, heightened health awareness among consumers, and the rising popularity of mountain trekking are key factors propelling the market’s growth. For example, in July 2021, Trek Bicycle announced the establishment of the Trek Foundation, aimed at supporting the development of public mountain bike trails and cycling infrastructure projects.

In comparison, the Seat Belt Retractor Market is expected to grow at a steady pace of around 6%, driven by increasing environmental concerns. Similarly, rising awareness about environmental sustainability is a significant driving force in the bicycle market.

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Market Segmentation Overview

Based on Type

The market is segmented into:

Mountain Bikes
Hybrid Bikes
Road Bikes
Cargo Bikes
Others

Among these, hybrid bikes held the largest market share in 2020 and are projected to dominate during the forecast period. Hybrid bicycles combine features of both mountain and road bikes, making them ideal for urban commuting. Their growing popularity is supported by the rise in adventure sports, hiking, and recreational cycling activities.

Based on Technology

The market is categorized into:

Electric
Conventional

In 2020, the conventional segment held the largest share. Conventional bicycles remain widely used globally due to their affordability, suitability for exercise, eco-friendliness, and popularity in sports and fitness applications.

Based on End-User

The market is divided into:

Men
Women
Kids

The men segment is anticipated to witness the highest CAGR during the forecast period. A growing number of men use bicycles for fitness, commuting, adventure sports, and leisure. Among male users, hybrid, electric, and mountain bikes are particularly popular.

Based on Distribution Channel

The market is segmented into:

Online
Offline

The offline segment is projected to witness higher growth over the forecast period. Consumers often prefer checking the quality of bicycles in person before purchasing. This trend, combined with an increasing number of retail outlets offering diverse bike models, supports the growth of offline sales. For instance, in November 2021, BLive ventured into offline multi-brand retail with a new facility in Hyderabad and plans to launch over 100 stores across India in the next three years.

Geographic Market Insights

To understand regional adoption, the bicycle market is analyzed across:

North America (U.S., Canada, Rest of North America)
Europe (Germany, U.K., France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)
Rest of the World

The Asia-Pacific (APAC) region is expected to register the highest CAGR during the forecast period. In many developing Asian countries, cycling is a primary mode of transportation. China dominates the regional market, driven by strong demand for e-bikes and the growing popularity of bike-sharing services. In India, rising interest in cycling among urban residents—particularly in cities like Mumbai and Delhi—is anticipated to further drive regional growth.

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