Bicycle retailers’ revenue is expected to decline at a compound annual rate of 3.2% over the five years through 2025-26 to £1.6 billion. The cycling market continues to struggle with weak demand as the post-pandemic boom fades and rising living costs curb consumer spending. In 2024-25, sales of mechanical bikes dropped further, raising concerns of long-term stagnation as children’s participation has fallen sharply and sales of kids’ bikes remain well below pre-pandemic levels, highlighting ongoing challenges in attracting new riders. Retailers such as Evans Cycles and Wheelbase Lakeland have introduced 0% interest financing to make purchases more affordable and help sustain sales during tough economic conditions. Still, without renewed consumer interest and stronger youth engagement, the industry’s path to recovery and growth looks uncertain. Bike stores face intense competition from sporting goods retailers, online and offline mass merchandisers (like Amazon and Argos) and public bike-sharing schemes, which pose a substantial threat to sales in urban areas. The fierce competition and challenging economic conditions have forced many UK bicycle retailers to close. This wave of closures has dampened industry revenue growth, with revenue is expected to dip 1.6% in 2025, and accelerated consolidation, as leading companies like Halfords and Specialized Bicycle Components have expanded through acquisitions, increasing their market power and raising barriers for small independent shops. In response, surviving smaller retailers focus on personal service and community engagement, hosting events and offering specialist maintenance to attract loyal customers and differentiate themselves from large chains. External competition poses a formidable challenge to bike retailers' future expansion. However, government initiatives promoting active and eco-friendly lifestyles look set to boost sales. Moreover, as people prioritise mental and physical health, lifestyle changes should drive more people to get back on their bikes, especially with more of the mindful and wellness-centric Gen Z entering the workforce and gaining significant spending power. E-bikes are also swiftly gaining popularity among individuals and look set for strong future growth. Revenue is expected to edge upwards at a compound annual rate of 1% over the five years through 2030-31 to £1.7 billion.

The UK E-Bike Market report segments the industry into Propulsion Type (Pedal Assisted, Speed Pedelec, Throttle Assisted), Application Type (Cargo/Utility, City/Urban, Trekking), and Battery Type (Lead Acid Battery, Lithium-Ion Battery, Others). Get five years of historical data alongside five-year market forecasts.

In 2024, more than one in ten new bicycles sold in the United Kingdom were expected to be electric bikes. As of 2015, this figure had stood at fewer than one in one hundred bikes. By 2029, more than every fifth bike sold is expected to be an e-bike. Rising popularity of e-bikes in urban areas The growth in e-bike market share is particularly evident in urban settings. In London, ** percent of survey respondents reported owning or having access to an e-bike in their household in 2024, followed by the South West of England at ** percent. This increased adoption is also reflected in bike-sharing schemes, where electric bikes accounted for ** percent of all trips made in 2023, up from ** percent the previous year. Market trends and future outlook While the overall bicycle market in the UK has experienced a decline since its peak during the COVID-19 pandemic, e-bike sales have continued to grow. From 2015 to 2023, e-bike sales increased from approximately ****** units to nearly *******. Despite the general downturn in bicycle sales volume and value expected to continue until 2026, the e-bike segment is projected to maintain its upward trajectory, potentially offsetting some of the losses in the traditional bicycle market.

The premium bicycle market is anticipated to be valued at USD 12,315.9 million in 2025. It is expected to grow at a CAGR of 7.3% during the forecast period and reach a value of USD 24,913.6 million in 2035.

Metric	Value
Estimated Market Size in 2025	USD 12,315.9 million
Projected Market Size in 2035	USD 24,913.6 million
CAGR (2025 to 2035)	7.3%

Country Wise Analysis

Country	CAGR (2025 to 2035)
USA	5.0%

Country	CAGR (2025 to 2035)
UK	4.6%

Region	CAGR (2025 to 2035)
European Union (EU)	4.7%

Country	CAGR (2025 to 2035)
Japan	4.8%

Country	CAGR (2025 to 2035)
South Korea	5.0%

Snapshot img

Bicycle Market Size 2025-2029

The bicycle market size is valued to increase USD 29.08 billion, at a CAGR of 7.1% from 2024 to 2029. Increasing number of bicycle sports events will drive the bicycle market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 52% growth during the forecast period.
By Product - On-road and track segment was valued at USD 31.74 billion in 2023
By End-user - Men segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 92.12 billion
Market Future Opportunities: USD 29.08 billion
CAGR from 2024 to 2029 : 7.1%

Market Summary

The market encompasses the production, sales, and rental of bicycles and related components. This dynamic industry is driven by several key factors, including the increasing number of bicycle sports events and the growing popularity of bicycle rental services. According to recent market research, the bicycle rental services segment is projected to experience significant growth, with a notable market share of over 20% in the overall market. However, the industry also faces challenges, such as an increase in product recalls due to safety concerns.
Core technologies, such as electric bicycles and smart bike systems, continue to evolve, offering new opportunities for market expansion. Regions like Europe and Asia Pacific are expected to dominate the market, with Europe accounting for approximately 45% of the global share. The market is an ever-evolving landscape, shaped by these trends and the continuous unfolding of new market activities.

What will be the Size of the Bicycle Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Bicycle Market Segmented ?

The bicycle industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  On-road and track
  Off-road
  X-road and hybrid


End-user

  Men
  Women
  Kids


Distribution Channel

  Offline
  Online


Propulsion

  Manual bicycles
  Motor-assisted bicycles


Technology

  Electric
  Conventional


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    The Netherlands
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By Product Insights

The on-road and track segment is estimated to witness significant growth during the forecast period.

In the dynamic and evolving market, carbon fiber frames and advanced tire compounds are driving innovation. For instance, tire rolling resistance has been reduced by 15%, enhancing overall performance. Power meter technology, spoke lacing patterns, and bicycle frame stiffness continue to improve, providing riders with better control and efficiency. Handlebar ergonomics and seatpost adjustment ensure rider comfort, while wheel spoke tension and bicycle wheel dynamics optimize performance. Rim material selection, brake pad materials, and hub maintenance are essential considerations for maintaining optimal functionality. Electronic shifting systems, frame geometry design, bicycle component weight, and gear ratios calculation are key trends shaping the industry.

Request Free Sample

The On-road and track segment was valued at USD 31.74 billion in 2019 and showed a gradual increase during the forecast period.

Pedal power transfer, clipless pedal systems, disc brake systems, and drivetrain efficiency are crucial factors for competitive cyclists. Hydraulic braking systems, derailleur technologies, brake lever ergonomics, tire pressure optimization, and aerodynamic frame design further enhance the riding experience. c systems, frame material strength, saddle comfort features, chain wear indicators, gear shifting mechanisms, bottom bracket types, and suspension fork technology cater to diverse rider needs. The market for on-road bicycles has experienced significant growth, with adoption increasing by 21% in recent years.

These trends underscore the continuous evolution and unfolding of the market, offering exciting opportunities for businesses and enthusiasts alike.

Request Free Sample

Regional Analysis

APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Bicycle Market Demand is Rising in APAC Request Free Sample

The market in Asia Pacific (APAC) is experiencing significant expansion, outpacing growth in other regions. Factors contributing to this expansion include the increasing preference for bicycles as a healthier and eco-friendly transportation option, growing environmental conc

In 2022, ** percent of the bike sharing market in the United Kingdom (UK) was held by the Estonian mobility company Bolt. Bolt, Lime and Voi, the top three brands in the bike sharing market alone, account for ** percent bike sharing market in the UK.

Snapshot img

Europe Bicycle Market Size 2025-2029

The bicycle market in Europe size is forecast to increase by USD 5.9 billion at a CAGR of 4.6% between 2024 and 2029.

The bicycle market is experiencing significant growth due to various factors. Firstly, the increasing awareness towards health and fitness is driving the demand for bicycle sports and cycling activities. This trend is particularly prominent in North America, where people are seeking alternatives to traditional gym workouts and looking for ways to maintain a healthy weight. Additionally, the popularity of mobile applications that track fitness metrics and offer cycling routes is also fueling market growth. Another trend In the bicycle market is the increasing adoption of e-bikes, which offer the convenience of traditional bicycles with the added benefit of electric assistance.This is particularly appealing to older adults and those with mobility issues. However, the market faces challenges such as competition from refurbished bicycles, which offer an affordable alternative to new bicycles. Overall, the bicycle market is expected to continue growing due to these factors and others, making it an attractive investment opportunity for businesses and individuals alike.

What will be the Size of the market During the Forecast Period?

Request Free Sample

The bicycle market encompasses a diverse range of products and applications, including e-bikes, road bicycles, hybrid bicycles, and all-terrain bicycles, catering to various segments such as fitness, leisure, and eco-friendly transportation. The market's growth is driven by increasing health consciousness, younger generations embracing cycling culture, and ethical practices that prioritize sustainable transportation options. Advanced technology, such as smart monitoring and electric power, is transforming the industry, making cycling more accessible and convenient for commuters and recreational users alike. Retail channels, including offline and online, are adapting to these trends, offering a wide array of options to meet the evolving needs of consumers.
Macroeconomic factors, such as rising fuel prices and environmental concerns, further bolster the market's direction. Cycling events, infrastructure, and bicycle tourism continue to fuel industry growth, making cycling an integral part of modern transportation and recreational activities.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


End-user

  Men
  Kids
  Women


Product

  Road
  Mountain
  Hybrid
  Cargo


Technology

  Conventional
  Electric


Geography

  Europe

    Germany
    UK
    France
    Italy

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

The European bicycle market encompasses various segments, including offline retail channels such as specialty stores, sporting goods retailers, and online retailers. Specialty stores, which focus on selling bicycles and related accessories, offer a wide selection of products, including road bicycles, hybrid bicycles, and all-terrain bicycles. These retailers cater to diverse consumer preferences, prioritizing high-quality service and expert guidance. The fitness and leisure sectors drive demand for cycling solutions, with eco-friendly transportation and commuting gaining popularity. Advanced technology, such as smart monitoring systems and anti-theft features, enhances consumer appeal. Infrastructure developments, including car-free bicycle highways, further promote cycling culture and tourism.

Health consciousness and body fitness are key factors driving the market's growth, as modernized cycling solutions offer eco-friendly commutes and sustainable bicycles. Electric bicycles, or e-bikes, cater to younger generations and those seeking ethical transportation options. The market's fiscal health is influenced by national economic conditions, fiscal policies, and financial indicators.

Get a glance at the market report of share of various segments Request Free Sample

Market Dynamics

Our Europe Bicycle Market researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Europe Bicycle Market?

Increasing awareness regarding health and fitness is the key driver of the market.

The market is experiencing significant growth due to increasing health consciousness and the popularity of cycling as a fitness and leisure activity.

Discover the latest market trends in the UK bicycle industry as demand continues to rise. Forecasts show a slight increase in market performance with a CAGR of +0.3% in volume and +1.8% in value from 2024 to 2035, reaching 1.3M units and $361M respectively by the end of 2035.

Market Size statistics on the Bicycle Retailing industry in the UK

Snapshot img

Sports Bicycle Market Size 2024-2028

The sports bicycle market size is forecast to increase by USD 7.2 billion, at a CAGR of 7.44% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing popularity of cycling as a healthier and more eco-friendly mode of transportation. A key trend in the market is the development of innovative products, including electric and smart bicycles, which cater to diverse consumer needs and preferences. However, the market faces challenges, including the rise in prices of raw materials, particularly aluminum and steel, which impact production costs. Furthermore, the market is affected by the increasing fuel prices, which may discourage potential buyers from purchasing traditional bicycles in favor of more fuel-efficient alternatives.
Companies in the market must navigate these challenges by focusing on cost optimization and continuous innovation to maintain competitiveness and capitalize on the growing demand for sustainable transportation solutions.

What will be the Size of the Sports Bicycle Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
Request Free Sample

The market continues to evolve, with dynamic market activities unfolding across various sectors. Cycling events serve as platforms for showcasing the latest innovations, from gravel bike races to triathlons, fueling consumer interest and driving sales. Direct-to-consumer sales have gained traction, enabling brands to offer competitive pricing and personalized customer service. Bike pumps and rim brakes remain essential components, while hydraulic disc brakes and gps tracking offer enhanced performance and safety. Weight reduction through titanium frames and cycling apparel is a priority for competitive riders, while bike fitting ensures optimal comfort and efficiency. Gravel bikes and drivetrain efficiency have emerged as key trends, with aluminum frames offering a balance between cost and performance.

Bike helmets, component upgrades, and cycling shoes are essential for rider safety and comfort. Fitness monitoring through mobile apps and gps tracking provide valuable data for training and performance improvement. E-bikes and bike sharing schemes have expanded the market, catering to diverse consumer preferences. Brand loyalty is influenced by distribution networks, marketing campaigns, and bike customization options. Component recycling and frame geometry innovations contribute to sustainable manufacturing practices, reducing the carbon footprint and environmental impact. Suspension systems and shock absorbers enhance the riding experience, while sales channels and pricing strategies adapt to the evolving market landscape. Bicycle tourism and e-commerce platforms have emerged as significant growth areas, with bike racks, bike lights, folding bikes, and inner tubes catering to the diverse needs of cyclists. Performance testing and safety standards ensure the quality and reliability of products, maintaining consumer trust and confidence in the market.

How is this Sports Bicycle Industry segmented?

The sports bicycle industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Adults
  Kids


Product

  Mountain bicycles
  Cyclo-cross bicycles
  Road racing bicycles
  Track bicycles


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK


  APAC

    China


  Rest of World (ROW)

By Application Insights

The adults segment is estimated to witness significant growth during the forecast period.

The market is experiencing a shift in consumer demographics, with adults (20-60) showing increased interest and adoption. Traditional perceptions of biking being a youth activity are evolving, as more elderly people embrace cycling for health, recreation, and adventure. This trend is particularly noticeable in regions such as the US, Europe, India, and Australia, where declining car ownership among young adults and growing health consciousness are driving sales. Sustainable manufacturing practices are gaining importance in the industry, with companies focusing on reducing carbon footprint and environmental impact. Supply chain management and bike maintenance are critical areas of emphasis, ensuring efficient distribution networks and effective marketing campaigns.

BMX Bikes, steel frames, and road bikes continue to be popular, while mountain bikes and gravel bikes cater to the adventurous and off-road enthusiasts. Brand loyalty is a significant factor in the market, with consumers preferring trusted brands for their bike needs. Direct-to-consumer sales and e-commerce platforms hav

The UK electric bicycle market is poised for significant expansion, projected to reach a market size of approximately £1,500 million by 2025, with a robust Compound Annual Growth Rate (CAGR) exceeding 5.00% through 2033. This upward trajectory is primarily fueled by increasing environmental consciousness among consumers, a growing desire for sustainable and healthier commuting alternatives, and supportive government initiatives promoting cycling infrastructure. The rising popularity of e-bikes as a viable option for both recreational and practical purposes, such as urban commuting and cargo transport, is a key driver. Furthermore, advancements in battery technology, leading to lighter, more powerful, and longer-lasting batteries, are enhancing the appeal and practicality of electric bicycles. The market is also benefiting from a growing awareness of the health benefits associated with cycling and the cost-effectiveness of e-bikes compared to traditional motorized vehicles, especially in the face of rising fuel prices. Key trends shaping the UK electric bicycle market include the increasing demand for Speed Pedelecs, offering higher speeds for longer commutes and a more engaging riding experience. The "Cargo/Utility" application segment is experiencing substantial growth as individuals and businesses recognize the efficiency and eco-friendliness of e-bikes for deliveries and personal transport of goods. While lithium-ion batteries dominate due to their superior performance and lifespan, advancements in other battery types might offer niche solutions. Restraints, such as the initial purchase cost of some e-bike models and the need for greater charging infrastructure in public spaces, are being addressed through innovation and policy. Prominent players like Gocycle, Brompton, Raleigh, Trek, and Giant are actively investing in research and development, expanding their product portfolios, and focusing on enhancing user experience, further solidifying the market's growth potential. Key drivers for this market are: The Growth of The Global Automotive Turbocharger Market. Potential restraints include: Increasing Complexity of Modern Vehicles. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The size of the Electric Bicycle in UK Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00">> 5.00% during the forecast period. Recent developments include: December 2022: Volt Bikes and City AM collaborate for the Launch of an ESG-Focused Project. Impact AM is a brand-new division of City AM that specializes in environmental, social, and governance issues.November 2022: The Tandem Group opens eMobility sales and demo showroom, the Launched under the Electric Life banner the space will be found in Birmingham, located off the M6 in Castle Vale.November 2022: The Stormguard E+, a full-suspension e-bike, is unveiled by Giant. The bicycles will be available for purchase in Europe in 2023 and will cost 7,999 Euros for the E+1 and 6,499 Euros for the E+2.. Key drivers for this market are: The Growth of The Global Automotive Turbocharger Market. Potential restraints include: Increasing Complexity of Modern Vehicles. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The UK electric bicycle market is experiencing robust growth, driven by increasing environmental awareness, government incentives promoting sustainable transportation, and the rising popularity of e-bikes as a convenient and efficient mode of commuting and leisure. The market is segmented by propulsion type (pedal-assisted, speed pedelec, throttle-assisted), application (cargo/utility, city/urban, trekking), and battery type (lead-acid, lithium-ion). Lithium-ion batteries dominate due to their superior performance and longer lifespan, while pedal-assisted e-bikes represent the largest segment due to their versatility and ease of use. Key players like Brompton Bicycle, Giant Manufacturing, and Trek Bicycle Corporation are shaping the market through innovation and expanding product lines. The UK's well-developed cycling infrastructure and increasing urban density contribute to the high demand for e-bikes, particularly city/urban models. While pricing remains a barrier for some consumers, ongoing technological advancements leading to more affordable models and improved battery technology are expected to fuel market expansion. Government initiatives and improved charging infrastructure further support market growth. Competition is intensifying, with established brands facing challenges from emerging players offering diverse product ranges and price points. This competitive landscape is driving innovation and benefiting consumers through greater choice and affordability. The forecast for the UK electric bicycle market from 2025 to 2033 is positive, projecting a sustained Compound Annual Growth Rate (CAGR). This growth will likely be influenced by evolving consumer preferences, advancements in battery technology resulting in longer ranges and faster charging times, and continued government support for cycling initiatives. Regional variations may exist, with urban areas experiencing higher demand than rural regions. However, improvements in charging infrastructure and expansion of dedicated cycle routes could lead to increased adoption across various regions. The market is likely to witness further consolidation as larger players acquire smaller companies and expand their market share. Ongoing innovation in e-bike design, including improved integration of technology and more stylish designs, will attract a broader range of consumers. The market's future success hinges on continued technological innovation, government support, and effective marketing that highlights the benefits of e-bikes as a sustainable and practical transportation solution. Recent developments include: December 2022: Volt Bikes and City AM collaborate for the Launch of an ESG-Focused Project. Impact AM is a brand-new division of City AM that specializes in environmental, social, and governance issues.November 2022: The Tandem Group opens eMobility sales and demo showroom, the Launched under the Electric Life banner the space will be found in Birmingham, located off the M6 in Castle Vale.November 2022: The Stormguard E+, a full-suspension e-bike, is unveiled by Giant. The bicycles will be available for purchase in Europe in 2023 and will cost 7,999 Euros for the E+1 and 6,499 Euros for the E+2.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The sales value of new bicycles in the United Kingdom has been falling since its peak in 2021. Demand for bikes peaked during the COVID-19 pandemic but began losing momentum from 2022. While sales are expected to continue falling into ****, the market is expected to stabilize after that point.

The United Kingdom e-bike market size reached approximately USD 283.22 Million in 2024. The market is further projected to grow at a CAGR of 8.00% between 2025 and 2034, reaching a value of USD 611.45 Million by 2034.

USD 877.25 Million in 2024; projected USD 1969.65 Million by 2033; CAGR 9.35%.

The UK bicycle market will grow at a CAGR of over 5.95% (2024–2029), supported by urban cycling popularity, health trends, and green initiatives.

The UK e-bike market will add over USD 429M by 2029, driven by health-focused commuting, urban eco-mobility, and government cycling incentives.

The global bicycle market size was USD 72.28 billion in 2024 & is projected to grow from USD 77.49 billion in 2025 to USD 135.15 billion by 2033.
Report Scope:

Report Metric	Details
Market Size in 2024	USD 72.28 Billion
Market Size in 2025	USD 77.49 Billion
Market Size in 2033	USD 135.15 Billion
CAGR	7.2% (2025-2033)
Base Year for Estimation	2024
Historical Data	2021-2023
Forecast Period	2025-2033
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	By Product, By Technology, By End-User, By Distribution Channel,By Region.
Geographies Covered	North America, Europe, APAC, Middle East and Africa, LATAM,
Countries Covered	U.S., Canada, U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, China, Korea, Japan, India, Australia, Taiwan, South East Asia, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Brazil, Mexico, Argentina, Chile, Colombia,

Analysis of the UK bicycle market from 2024-2035, covering consumption, production, imports, exports, and key trading partners, with forecasts for market volume and value.