Sports Bicycles Market Forecasts to 2030 - Global Analysis By Product Type, Material, Component, Distribution Channel, Application and By Geography

According to Stratistics MRC, the Global Sports Bicycles Market is accounted for $18.6 billion in 2024 and is expected to reach $33.9 billion by 2030 growing at a CAGR of 10.4% during the forecast period. Sports bicycles are specifically designed for performance-oriented cycling activities such as racing, endurance riding, or intense recreational cycling. These bikes are engineered to be lightweight, aerodynamic, and agile, allowing riders to achieve higher speeds and better maneuverability compared to regular or commuter bicycles. Sports bikes often have a more aerodynamic riding position with a lower handlebar and a longer reach, promoting efficiency and speed.

According to several European Cyclists' Federation (ECF) surveys, adults in Europe make 0.32 bicycle journeys daily on average, and cycling accounts for 8% of all modal shares in the EU.

Market Dynamics:

Driver:

Increasing health and fitness awareness

Consumers are increasingly prioritizing bikes that offer ergonomic designs, advanced fitness tracking capabilities, and customizable workout programs. Manufacturers are responding by incorporating features such as heart rate monitors, GPS tracking, and virtual cycling simulations into their products. This trend reflects a growing demand for bicycles that not only provide enjoyable riding experiences but also support users' health and fitness goals. Thus, there has been a noticeable surge in health and fitness awareness within the sports bicycles market.

Restraint:

Restricted Accessibility

The market faces a challenge due to restricted accessibility. This limitation hinders potential customers from easily accessing and purchasing sports bicycles, impacting both sales and market expansion. Factors contributing to this challenge may include limited distribution channels, high pricing, or inadequate marketing strategies. Overcoming this obstacle requires innovative approaches, such as enhancing online presence, establishing partnerships with diverse retailers, or introducing budget-friendly options to make sports bicycles more accessible to a broader consumer base.

Opportunity:

Growing interest in cycling as a sport

More enthusiasts are embracing cycling not just for recreation but also for competitive events. This trend is driven by several factors like increased health awareness, eco-friendly transportation preferences, and the thrill of outdoor adventure. As more people embrace cycling for fitness and leisure, demand for high-performance sports bicycles is escalating. Manufacturers are responding with innovative designs, advanced materials, and technology, catering to the growing interest and diverse needs of cycling enthusiasts worldwide.

Threat:

High cost

The high cost challenge in the market stems from several factors. Advanced materials like carbon fiber drive up manufacturing costs, while cutting-edge technology such as electronic shifting systems adds to the overall price. Additionally, the demand for high-performance components further contributes to the elevated cost. These factors combined create a barrier for many consumers, making it challenging for sports bicycles to reach a wider market without compromising on quality or innovation.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Sports Bicycles market. Initially, there was a surge in demand for bicycles as people sought outdoor and solo activities. However, supply chain disruptions and economic uncertainties led to production delays and price increases. As lockdowns eased, the market saw a shift towards higher-end models and e-bikes, reflecting a growing interest in sustainable transportation. Overall, the pandemic catalyzed changes in consumer preferences and market dynamics within the Sports Bicycles sector.

The road racing bicycles segment is expected to be the largest during the forecast period

The road racing bicycles segment is expected to be the largest during the forecast period. Designed for competitive cycling events on paved roads, these bicycles feature lightweight frames, aerodynamic designs, and high-performance components such as gears, brakes, and wheels optimized for speed and efficiency. With a focus on speed and handling, road racing bicycles cater to enthusiasts and professional riders alike, contributing significantly to the dynamic and competitive landscape of the market.

The frame materials segment is expected to have the highest CAGR during the forecast period

The frame materials segment is expected to have the highest CAGR during the forecast period. Common materials include aluminum, known for its lightweight and affordable nature; carbon fiber, prized for its strength-to-weight ratio and vibration damping properties; and titanium, offering a balance of strength and corrosion resistance. Each material has its advantages and is often chosen based on factors like riding style, terrain, and budget, catering to the diverse needs of cyclists.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The market in the region has been growing steadily, driven by factors such as increasing interest in fitness, eco-friendly transportation options, and recreational cycling. Sports bicycles are sold through various channels including specialty bike shops, online retailers, sporting goods stores, and department stores. The rise of e-commerce has also impacted the market, with more consumers opting to purchase bikes online.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. Many governments in the region are promoting cycling as a means to reduce pollution and improve public health. Infrastructure development such as dedicated bicycle lanes and bike-sharing programs also contribute to the popularity of sports bicycles. As disposable incomes rise in many countries, more people have the purchasing power to invest in higher-quality sports bicycles for recreational or competitive purposes.

Key players in the market

Some of the key players in Sports Bicycles market include Canyon Bicycles, Trek Bicycle Corporation, Giant Manufacturing Co. Ltd., Specialized Bicycle Components, Colnago, Pinarello, BMC Switzerland AG, Felt Bicycles, Yeti Cycles, NS Bikes, Mondraker, Ghost Bikes, Transition Bikes, Evil Bikes, Ibis Cycles, Jamis Bikes, Diamondback Bicycles, Marin Bikes and Hero Cycles.

Key Developments:

In February 2023, Trek Bicycle Corporation launched two electric bikes, both designed as kid and cargo movers. The new Trek Fetch Plus 2 and Trek Fetch Plus 4 mark Trek's deepest dive into the cargo e-bike segment. These family-friendly cargo e-bikes carry distinct designs, with the Trek Fetch Plus 2 rolling out as a longtail cargo bike and the Trek Fetch Plus 4 taking on a less common front-loader cargo bike layout.

In December 2022, Hero Cycles established a new e-commerce website to provide customers with an exceptional experience. In addition to promoting a new growth path, the website increases the brand's omnichannel presence.

Product Types Covered:

• Mountain Bikes
• Road Racing Bicycles
• Cyclo-Cross Bicycles
• Road Bikes
• Track Bikes
• Other Product Types

Materials Covered:

• Aluminum Alloy
• Carbon Fiber
• Steel
• Titanium
• Other Materials

Components Covered:

• Drivetrain Systems
• Frame Materials
• Wheel Types
• Other Components

Distribution Channels Covered:

• Online Retail
• Offline Retail
• Direct Sales
• Distributors

Applications Covered:

• Racing Bicycles
• Recreational Bicycles
• Touring Bicycles
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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