Global Cycle Tourism Market Size, Share, Growth Analysis, By Groups(Groups/Friends, Couples), By Booking Mode(Direct, Travel Agents) - Industry Forecast 2024-2031

Global Cycle Tourism Market size was valued at USD 116.73 billion in 2022 and is poised to grow from USD 127.35 billion in 2023 to USD 255.63 billion by 2031, growing at a CAGR of 9.10% during the forecast period (2024-2031).

Adventure tourism, encompassing activities such as exploring new areas, off-road cycling, and seeking out adventure destinations, significantly contributes to the growth of cycling tourism, with bicycles increasingly becoming the preferred mode of transportation for travelers. In the United States, electric bike sales surged by 144-145%, according to data from the World Economic Forum (WEF), with expectations of sustained growth in the future. This trend is further fueled by consumers seeking e-bike experiences, while governments in tourist-driven nations are actively promoting cycling tourism through various initiatives. For example, Thailand's investment of USD 700 million to stimulate domestic tourism and Vanuatu's provision of incentives to small and medium-sized enterprises to boost cycle tourism serve as notable illustrations of this concerted effort.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cycle Tourism Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Cycle Tourism Market Segmental Analysis

Global Cycle Tourism Market is segmented on the basis of Group, Booking Mode, Age Groups and region. By Group, the market is segmented into Group/Friends, Couples, Solo, Family. By Booking Mode, the market is segmented into Direct, Travel Agent, Marketplace Booking. By Age Group, 18 to 30 Years, 31 to 50 years, above 50 Years. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Cycle Tourism Market

As awareness grows regarding the environmental footprint of travel, many travelers are actively seeking sustainable and eco-conscious ways to discover new destinations. Cycling emerges as an ideal choice for sustainable tourism, offering both environmental benefits and promoting personal health. Consequently, fitness enthusiasts are increasingly opting for cycling as a healthy and environmentally friendly means to explore tourist destinations.

Restraints in the Global Cycle Tourism Market

Despite the increasing investment in cycling infrastructure in numerous destinations, significant portions of the world lack sufficient cycling facilities like bike lanes and trails, posing challenges for cyclists to explore these areas safely. This deficiency not only compromises the safety of cyclists but also hampers the potential for cycle tourism growth in these regions.

Market Trends of the Global Cycle Tourism Market

Due to cycling tourism constituting a minor fraction of tours, there is a reduced expenditure from participants, leading to decreased revenue for travel agencies. In response, leading travel agencies have innovated by introducing comprehensive cycling tourism packages, integrating informative guidance from experienced tour guides to enrich riders' understanding of geography, history, and biology.