Bicycle Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025-2032

Description

Persistence Market Research has recently released a comprehensive report on the global bicycle market. The report offers an in-depth analysis of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global bicycle market from 2025 to 2032.

Key Insights:

Bicycle Market Size (2025E): US$ 67.3 Bn
Projected Market Value (2032F):US$ 102.5 Bn
Global Market Growth Rate (CAGR 2025 to 2032): 6.2%

Bicycle Market - Report Scope:

Bicycles serve as a primary mode of transportation, fitness equipment, and a recreational vehicle. The global bicycle market includes various categories, such as electric bicycles (e-bikes), traditional bicycles, and high-performance racing bicycles. The market is driven by increasing environmental awareness, the rising trend of sustainable transportation, and innovations in bicycle technology. Market growth is further supported by a rising demand for health and fitness solutions, an expanding cycling culture, and government initiatives promoting cycling infrastructure.

Market Growth Drivers:

The global bicycle market is driven by several key factors, including the growing emphasis on eco-friendly transportation alternatives, health and fitness consciousness, and increasing urbanization. Governments worldwide are promoting cycling as a sustainable mode of transportation, offering incentives and building dedicated cycling infrastructure. The surge in demand for e-bikes is one of the most significant growth factors, driven by their convenience, cost-effectiveness, and environmental benefits. Additionally, technological advancements, such as the development of lightweight materials, improved battery technologies for e-bikes, and smart features, have enhanced consumer interest and market adoption.

Market Restraints:

Despite its promising growth prospects, the bicycle market faces challenges, such as the high upfront cost of electric bicycles and limited charging infrastructure in some regions. Moreover, the preference for personal vehicles in many developed countries and the lack of cycling infrastructure in emerging economies can hinder market penetration. The bicycle market also faces stiff competition from alternative transportation modes, such as scooters and public transport, especially in urban areas.

Market Opportunities:

The bicycle market presents several growth opportunities driven by evolving consumer preferences, technological innovations, and government initiatives. The growing popularity of electric bicycles (e-bikes) creates a significant opportunity for manufacturers to expand their product offerings and cater to a broader consumer base. Additionally, the rising adoption of bicycles for last-mile connectivity, recreational cycling, and fitness purposes provides growth avenues. Moreover, the expansion of cycling infrastructure in urban areas and the increasing focus on reducing carbon footprints are expected to stimulate market growth. Strategic partnerships, investment in R&D, and the introduction of affordable, high-performance bicycles are essential for companies looking to capitalize on these opportunities.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the global bicycle market?
How is the growing demand for electric bicycles impacting market growth?
What technological advancements are shaping the future of the bicycle market?
Who are the leading players in the bicycle market, and what strategies are they using to maintain market leadership?
What are the emerging trends and future prospects in the global bicycle market?

Competitive Intelligence and Business Strategy:

Leading players in the global bicycle market, including Trek Bicycle Corporation, Giant Manufacturing Co. Ltd., and Accell Group, focus on product innovation, sustainability, and strategic partnerships to maintain their competitive edge. These companies are investing heavily in electric bicycle technology, expanding their product portfolios, and enhancing consumer experience through the development of smart bicycles and connected devices. Collaborations with government bodies and urban planning organizations are essential for facilitating infrastructure development that supports the growth of the cycling market. Additionally, a strong focus on expanding distribution channels, increasing online sales platforms, and engaging in global market expansion strategies will help companies strengthen their position in the competitive landscape.

Key Companies Profiled:

Trek Bicycle Corporation
Giant Manufacturing Co. Ltd.
Accell Group
Merida Industry Co., Ltd.
Specialized Bicycle Components, Inc.
Shimano Inc.
Bulls Bikes USA
Rad Power Bikes
Yadea Technology Group Co., Ltd.
Eovolt Electric Bikes

Market Segmentation

By Product Type

Mountain Bike
Hybrid/Cross
Road
Comfort
Youth
Cruiser
Electric

By Technology

Conventional
Electric

By Price

Premium
Mid-Range
Low-Range

By End Use

Men
Women
Kids

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East Africa

Product Code: PMRREP3326

1. Executive Summary

1.1. Global Bicycle Market Snapshot, 2025 - 2032
1.2. Market Opportunity Assessment, 2025 - 2032, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Key Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global GDP Growth Outlook
- 2.3.2. Global Urbanization Outlook
- 2.3.3. Fuel Prices
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Regulatory Landscape
3.2. Value Chain Analysis
3.3. PESTLE Analysis
3.4. Porter's Five Force Analysis

4. Price Trend Analysis

4.1. Key Highlights
4.2. Key Factors Impacting Soda Makers Prices
4.3. Pricing Analysis
- 4.3.1. By Product Type
- 4.3.2. By Technology
- 4.3.3. By Region

5. Global Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

5.1. Global Bicycle Market Outlook: Product Type
- 5.1.1. Introduction / Key Findings
- 5.1.2. Historical Market Size (US$ Bn) and Analysis, By Product Type, 2019 - 2024
- 5.1.3. Current Market Size (US$ Bn) and Analysis and Forecast, By Product Type, 2025 - 2032
- 5.1.4. Mountain Bike
- 5.1.5. Hybrid/Cross
- 5.1.6. Road
- 5.1.7. Comfort
- 5.1.8. Youth
- 5.1.9. Cruiser
- 5.1.10. Electrics
5.2. Market Attractiveness Analysis: Product Type
5.3. Global Bicycle Market Outlook: Technology
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By Technology, 2019 - 2024
- 5.3.3. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
  - 5.3.3.1. Conventional
  - 5.3.3.2. Electric
5.4. Market Attractiveness Analysis: Technology
5.5. Global Bicycle Market Outlook: Price
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) Analysis, By Price, 2019 - 2024
- 5.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
  - 5.5.3.1. Premium
  - 5.5.3.2. Mid-Range
  - 5.5.3.3. Low-Range
5.6. Market Attractiveness Analysis: Price
5.7. Global Bicycle Market Outlook: End Use
- 5.7.1. Introduction / Key Findings
- 5.7.2. Historical Market Size (US$ Bn) Analysis, By End Use, 2019 - 2024
- 5.7.3. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
  - 5.7.3.1. Men
  - 5.7.3.2. Women
  - 5.7.3.3. Kids
5.8. Market Attractiveness Analysis: End Use

6. Global Bicycle Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Analysis, By Region, 2019 - 2024
6.3. Current Market Size (US$ Bn) Analysis and Forecast, By Region, 2025 - 2032
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

7.1. Key Highlights
7.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 7.2.1. By Country
- 7.2.2. By Product Type
- 7.2.3. By Technology
- 7.2.4. By Price
- 7.2.5. By End Use
7.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 7.3.1. U.S.
- 7.3.2. Canada
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 7.4.1. Mountain Bike
- 7.4.2. Hybrid/Cross
- 7.4.3. Road
- 7.4.4. Comfort
- 7.4.5. Youth
- 7.4.6. Cruiser
- 7.4.7. Electric
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 7.5.1. Conventional
- 7.5.2. Electric
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 7.6.1. Premium
- 7.6.2. Mid-Range
- 7.6.3. Low-Range
7.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 7.7.1. Men
- 7.7.2. Women
- 7.7.3. Kids
7.8. Market Attractiveness Analysis

8. Europe Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

8.1. Key Highlights
8.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 8.2.1. By Country
- 8.2.2. By Product Type
- 8.2.3. By Technology
- 8.2.4. By Price
- 8.2.5. By End Use
8.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 8.3.1. Germany
- 8.3.2. France
- 8.3.3. U.K.
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Rest of Europe
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 8.4.1. Mountain Bike
- 8.4.2. Hybrid/Cross
- 8.4.3. Road
- 8.4.4. Comfort
- 8.4.5. Youth
- 8.4.6. Cruiser
- 8.4.7. Electric
8.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 8.5.1. Conventional
- 8.5.2. Electric
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 8.6.1. Premium
- 8.6.2. Mid-Range
- 8.6.3. Low-Range
8.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 8.7.1. Men
- 8.7.2. Women
- 8.7.3. Kids
8.8. Market Attractiveness Analysis

9. East Asia Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

9.1. Key Highlights
9.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 9.2.1. By Country
- 9.2.2. By Product Type
- 9.2.3. By Technology
- 9.2.4. By Price
- 9.2.5. By End Use
9.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 9.4.1. Mountain Bike
- 9.4.2. Hybrid/Cross
- 9.4.3. Road
- 9.4.4. Comfort
- 9.4.5. Youth
- 9.4.6. Cruiser
- 9.4.7. Electric
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 9.5.1. Conventional
- 9.5.2. Electric
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 9.6.1. Premium
- 9.6.2. Mid-Range
- 9.6.3. Low-Range
9.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 9.7.1. Men
- 9.7.2. Women
- 9.7.3. Kids
9.8. Market Attractiveness Analysis

10. South Asia & Oceania Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 10.2.1. By Country
- 10.2.2. By Product Type
- 10.2.3. By Technology
- 10.2.4. By Price
- 10.2.5. By End Use
10.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of South Asia & Oceania
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 10.4.1. Mountain Bike
- 10.4.2. Hybrid/Cross
- 10.4.3. Road
- 10.4.4. Comfort
- 10.4.5. Youth
- 10.4.6. Cruiser
- 10.4.7. Electric
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 10.5.1. Conventional
- 10.5.2. Electric
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 10.6.1. Premium
- 10.6.2. Mid-Range
- 10.6.3. Low-Range
10.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 10.7.1. Men
- 10.7.2. Women
- 10.7.3. Kids
10.8. Market Attractiveness Analysis

11. Latin America Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

11.1. Key Highlights
11.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 11.2.1. By Country
- 11.2.2. By Product Type
- 11.2.3. By Technology
- 11.2.4. By Price
- 11.2.5. By End Use
11.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of Latin America
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 11.4.1. Mountain Bike
- 11.4.2. Hybrid/Cross
- 11.4.3. Road
- 11.4.4. Comfort
- 11.4.5. Youth
- 11.4.6. Cruiser
- 11.4.7. Electric
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 11.5.1. Conventional
- 11.5.2. Electric
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 11.6.1. Premium
- 11.6.2. Mid-Range
- 11.6.3. Low-Range
11.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 11.7.1. Men
- 11.7.2. Women
- 11.7.3. Kids
11.8. Market Attractiveness Analysis

12. Middle East & Africa Bicycle Market Outlook: Historical (2019 - 2024) and Forecast (2025 - 2032)

12.1. Key Highlights
12.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2024
- 12.2.1. By Country
- 12.2.2. By Product Type
- 12.2.3. By Technology
- 12.2.4. By Price
- 12.2.5. By End Use
12.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 12.3.1. GCC Countries
- 12.3.2. South Africa
- 12.3.3. Northern Africa
- 12.3.4. Rest of Middle East & Africa
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 12.4.1. Mountain Bike
- 12.4.2. Hybrid/Cross
- 12.4.3. Road
- 12.4.4. Comfort
- 12.4.5. Youth
- 12.4.6. Cruiser
- 12.4.7. Electric
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By Technology, 2025 - 2032
- 12.5.1. Conventional
- 12.5.2. Electric
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Price, 2025 - 2032
- 12.6.1. Premium
- 12.6.2. Mid-Range
- 12.6.3. Low-Range
12.7. Current Market Size (US$ Bn) Analysis and Forecast, By End Use, 2025 - 2032
- 12.7.1. Men
- 12.7.2. Women
- 12.7.3. Kids
12.8. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Giant Bicycles Inc.
  - 13.3.1.1. Overview
  - 13.3.1.2. Product Portfolio
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Atlas Cycles Ltd
- 13.3.3. Derby Cycle Holding GmbH
- 13.3.4. Trek Bicycle Corporation
- 13.3.5. Avon Cycles Ltd.
- 13.3.6. Zhonglu Co., Ltd
- 13.3.7. Accell Group N.V.
- 13.3.8. Tube Investments of India Limited
- 13.3.9. Dorel Industries Inc.
- 13.3.10. Merida Industry Co., Ltd
- 13.3.11. Tandem Group plc
- 13.3.12. Samchuly Bicycle Co., Ltd
- 13.3.13. F.I.V.E. Bianchi S.p.A
- 13.3.14. Specialized Bicycle Components
- 13.3.15. Hamilton Industries Pvt. Ltd
- 13.3.16. Tianjin FUJITA Group Co. Ltd
- 13.3.17. Ming Cycle Industrial Co. Ltd
- 13.3.18. Tianjin Flying Pigeon Cycle Manufacture Co., Ltd
- 13.3.19. Koninklijke Gazelle N.V.
- 13.3.20. Tern
- 13.3.21. Kona USA, Inc.
- 13.3.22. Scott Sports SA
- 13.3.23. Redline Bicycle
- 13.3.24. Yadea Group Holdings

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations