In the financial year 2024, Hero MotoCorp was the leading two-wheeler manufacturer in India, with a market share of 31 percent. The volume of two-wheelers sold across India during the same period almost reached 18 million units, which was an increase from the previous year’s 15.9 million units. Two-wheel vehicles industry in India Two-wheel vehicles are divided into three subcategories in India, namely, motorcycles, scooters, and mopeds. In the financial year 2024, they had made up the majority of motor vehicles produced in India, far exceeding passenger vehicles. As the leading manufacturer in India, Hero MotoCorp was also the world’s largest manufacturer of two-wheel vehicles. Meanwhile, the leading foreign manufacturers were exclusively Japanese companies. It was mostly because in the 1980s, when the Indian government lessened the restrictions on foreign investments, Japanese companies formed joint ventures with Indian companies to produce two-wheel vehicles for the local market. Even after the termination of most of these joint ventures in the 2000s and 2010s, Japanese manufacturers maintained their presence in India.  Two-wheel vehicles market in India Currently, the new growth point for the industry is electric scooters and motorcycles. Many of the leading manufacturers have already started the production of electric vehicles. The Indian government has set a goal to electrify a major part of India’s two-wheelers and has provided considerable financial incentives. However, because of the impact of the COVID-19 pandemic on the sales of automobiles in India, the electrification target might be delayed. More investment in the electricity infrastructure, especially the renewable energy sector, could potentially accelerate the process.

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Children's Bicycle Market Size 2025-2029

The children's bicycle market size is forecast to increase by USD 7.8 billion at a CAGR of 6.8% between 2024 and 2029.

The market is witnessing significant growth due to the increasing focus on health and wellness among parents. This trend is driving the demand for high-quality bicycles made from materials such as steel and aluminum. Additionally, the integration of technology in bicycles, including rubber tires, bicycle lights, and digital labels, is also gaining popularity. Supplier chain management and mergers and acquisitions are key growth factors in this market. However, the inflated cost of inputs and research and development expenditure pose challenges for manufacturers. To request a free sample or get in touch for more information, please visit our website. Our market trends and analysis report provides a comprehensive overview of the market, including the latest industry developments and future growth prospects. Key areas of focus include the use of aluminum frames, advancements in battery-powered bicycle lights, and the influence of social media influencers on consumer preferences.

What will be the Size of the Children's Bicycle Market During the Forecast Period?

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The Offline segment was valued at USD 12.88 billion in 2019 and showed a gradual increase during the forecast period.

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.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, children's bicycle market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Accell Group NV - The company offers children's bicycles such as Haibike, Winora, and Ghost.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

Accell Group NV
ByK Bikes USA
Colnago Ernesto and C. S.r.l
Cycling Sports Group Inc.
Fuji Bikes
Giant Manufacturing Co. Ltd.
Guardian Bikes
Haro Bikes
Hero Motors Co.
Islabikes
Kona Bicycle Co.
Malvern Star
Merida Industry Co. Ltd.
Prevelo Bikes
Santa Cruz Bicycles LLC
SCOTT Sports SA
Specialized Bicycle Components Inc.
Trek Bicycle Corp.
Woom

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market is driven by the growing awareness of the importance of physical activity and outdoor play in promoting healthy lifestyles among the younger generation. With childhood obesity and sedentary lifestyles becoming major health concerns worldwide, parents are increasingly turning to bicycles as a solution to encourage their children to lead more active lives. Parental attitudes towards fitness and health are shaping the market dynamics of the children's bicycle industry. Parents are looking for bicycles that offer a balance between fun and functionality, with features that promote coordination, cardiovascular fitness, and safety. Innovative technologies such as pedal-assist and throttle-controlled motors are gaining popularity, as they make cycling more accessible to children of various fitness levels.

Moreover, seasonal fluctuations and cyclical demand patterns play a significant role in the market. Warmer months and holiday seasons are peak periods for sales, as children are more likely to be outside and engaged in recreational activities. Inventory levels and production schedules are carefully managed to meet the increased demand during these periods. Consumer preferences for children's bicycles are influenced by various factors, including price sensitivity, environmental consciousness, and safety concerns. E-bicycles with battery-operated components are gaining traction in the market, offering a more convenient and eco-friendly alternative to traditional bicycles. Specialty stores and online retailers cater to different consumer segments, with the latter offering a wider range of options and customization features.

Furthermore, safety is a top priority for parents when it comes to children's bicycles. Braking systems, materials, and visibility enhancements are critical features that influence purchasing decisions. Protective gear

Ola Electric dominated the electric two-wheeler market in India, with a share of 21 percent in financial year 2023. This was followed by Okinawa and Hero, having a share of 13 percent and 12 percent, respectively.

Asia-Pacific Bicycle Market Report is Segmented by Type (Road Bicycles, Hybrid Bicycles, All-Terrain Bicycles, E-Bicycles, and Other Types), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Country (India, Australia, China, Japan, and Rest of Asia-Pacific). The Report Offers Market Sizes and Forecasts in Value (USD) for the Above Segments.

The global bicycle hubs market is experiencing robust growth, driven by the surging popularity of cycling as a recreational activity and a sustainable mode of transportation. The market, currently estimated at $1.5 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5.5% from 2025 to 2033. This growth is fueled by several key factors, including the increasing demand for high-performance bicycles across various segments like mountain biking and road cycling, the rising adoption of e-bikes, and technological advancements leading to lighter, stronger, and more durable hubs. The market is segmented by hole count (16, 24, 32, and others) and application (mountain bike, road bike-racing, and others), with the mountain bike segment currently dominating due to the high demand for durable and reliable components in challenging terrains. Leading manufacturers like Shimano, Campagnolo, and DT Swiss are driving innovation and competition, continuously enhancing hub designs and functionalities to cater to evolving consumer preferences. The growth trajectory is expected to be influenced by several trends. The increasing preference for customized bicycles and the growing popularity of gravel biking are expanding market opportunities. However, economic fluctuations and the potential for material cost increases pose restraints. Geographical distribution reveals a strong presence in North America and Europe, although Asia-Pacific is emerging as a rapidly growing market, driven by increasing disposable incomes and a burgeoning cycling culture in countries like China and India. The market’s competitive landscape is characterized by a mix of established players and emerging brands, leading to a dynamic environment marked by innovation, technological advancements, and strategic partnerships. The forecast period will witness continuous market expansion, driven by sustained consumer demand and ongoing product improvements.

As of December 2024, Honda held the largest share of the U.S. motorcycle market, marginally outpacing Wisconsin-based Harley-Davidson, which reached a market share of around 19.9 percent of the motorcycle market in the United States. Asian motorcycle brands dominate the market The leading Asian motorcycle brands made up nearly half of the U.S. motorcycle market in 2024. Honda, alone, accounted for a fifth of the market, while Yamaha, Kawasaki, and Suzuki constituted the remaining 30 percent. The U.S. is an important market globally for these brands, with annual revenue in the sector amounting to nearly seven billion U.S. dollars. However, the U.S. no longer among the five largest motorcycle markets globally, as it had before 2021. Instead, Asian countries, including India and China, and Brazil now lead the global market. U.S. motorcycle manufacturer market share Harley-Davidson is the close second in motorcycle sales in the United States. The name alone conjures up the stinging scent of burnt gasoline and the roaring sound of bulky chrome and steel bikes glinting in the sun. Harley-Davidson was founded over 100 years ago in Milwaukee, Wisconsin by William S. Harley, as well as Arthur, Walter and William A. Davidson. The company has established itself as one of the key brands on the global as well as the domestic U.S. motorcycle market.

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Folding Electric Bicycle Market Size 2025-2029

The folding electric bicycle market size is forecast to increase by USD 264.9 million at a CAGR of 10.3% between 2024 and 2029.

The market is experiencing significant growth due to several key trends. With increasing traffic congestion in urban areas, there is a rising demand for eco-friendly and efficient transportation solutions. Folding electric bicycles offer a convenient and practical alternative to cars and public transportation. Additionally, the emergence of lightweight and portable folding electric bicycles caters to the needs of consumers who require easy transportation and storage. Another trend influencing market growth is the easy availability of bicycles, making these products more affordable for a larger consumer base. These factors collectively contribute to the growth of the market.

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The market is experiencing significant growth as urban commuters seek space-saving transportation options. Riders in metropolitan areas are increasingly turning to folding bikes due to their compact design and ease of use. The bicycle's main frame, rear triangle, and derailleur are engineered to fold, allowing for convenient storage in small spaces such as closets. Rechargeable batteries power these e-bikes, providing riders with a boost when needed. The collapsible frame design ensures that the bike can be easily transported on public transportation or in the trunk of a car. The lightweight design of these bikes makes them an attractive alternative to cars and motorbikes, especially for those looking for an eco-friendly transportation solution.



Battery life and motor efficiency are crucial factors in the folding bike market. Manufacturers are investing in advanced battery technology to increase battery life and improve motor efficiency. Performance and design aesthetics are also essential considerations, with many companies focusing on creating sleek and stylish designs that appeal to urban commuters. Folding bikes offer a unique blend of functionality and convenience, making them an ideal transportation solution for those living in densely populated areas. Their eco-friendly nature and ability to navigate through traffic make them an attractive alternative to cars and motorbikes. The folding bike market is poised for continued growth as more and more people seek efficient and sustainable transportation options.

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.

Age Group

  Age 18-50
  Lesser than 18
  Age greater than 50


Distribution Channel

  Offline
  Online


Geography

  Europe

    Germany
    Italy


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Age Group Insights

The age 18-50 segment is estimated to grow significantly during the forecast period.

Folding electric bicycles have gained popularity among adults aged 18-50 due to their numerous health benefits, including improved cardiovascular fitness, joint mobility, posture, and coordination, as well as reduced stress hormones and body fat levels. These benefits make folding electric bicycles an attractive option for urban commuting in metropolitan areas, where traffic congestion and air pollution are common issues. Moreover, the collapsible design of these bicycles allows for easy storage and transportation, making them an ideal solution for limited space in urban environments. Folding electric bicycles are powered by rechargeable lithium-ion batteries, providing a performance boost for longer commutes. The simplicity of these bicycles, combined with their lightweight design and extended battery life, makes them a practical and eco-friendly alternative to traditional vehicles. The increasing use of folding electric bicycles also reduces the need for extensive road repairs caused by vehicle traffic.

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The age 18-50 segment was valued at USD 5.60 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 51% 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.

For more insights on the market share of various regions Request Free Sample

Folding electric bicycles have gained significant traction in Europe, particularly in Germany, France, Austria, Belgium, and the Neth

The global bicycle motor market is experiencing robust growth, driven by several key factors. The rising popularity of e-bikes, fueled by increasing health consciousness, environmental concerns, and the desire for convenient commuting options, is a primary driver. Government initiatives promoting cycling infrastructure and e-bike adoption in many countries are further accelerating market expansion. Technological advancements, such as lighter, more efficient motors and improved battery technology, are enhancing the overall e-bike experience, leading to increased consumer demand. The market segmentation reveals a strong demand across various types of bicycle motors, with hub motors and mid-drive motors holding significant market share, catering to different rider preferences and e-bike applications. Applications range from urban commuting to recreational cycling and even specialized uses like cargo bikes, broadening the market's appeal. While supply chain constraints and the cost of e-bikes remain potential restraints, the long-term outlook for the bicycle motor market remains positive, with a projected CAGR of 7.22% from 2025 to 2033. This growth will be driven by continued innovation, expanding applications, and rising consumer adoption across various geographic regions. Competition among leading manufacturers like Bosch, Shimano, and Yamaha is intense, with companies focusing on strategies that emphasize technological innovation, strategic partnerships, and effective consumer engagement. This includes improving motor efficiency, enhancing battery life, developing smart features, and expanding distribution networks to capture market share within this dynamic and growing sector. The geographical distribution of the bicycle motor market reveals strong growth potential in various regions. North America and Europe currently hold significant market shares, driven by high consumer adoption and developed cycling infrastructure. However, emerging markets in Asia-Pacific, particularly China and India, present substantial growth opportunities. The increasing middle class and rising disposable incomes in these regions are fueling the demand for e-bikes, translating into a significant increase in bicycle motor sales. Companies are actively expanding their presence in these regions, adapting their products to local needs and preferences. The market's future hinges on the continued success of technological advancements, coupled with strategic partnerships and effective marketing campaigns that highlight the convenience, sustainability, and overall value proposition of e-bikes.

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The bicycle carbon frames market share is expected to increase by 5935.37 thousand units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 14.89%.

This bicycle carbon frames market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bicycle carbon frames market segmentations by application (manual bicycles and e-bikes) and geography (APAC, Europe, North America, South America, and MEA). The bicycle carbon frames market report also offers information on several market vendors, including Advanced Sports Inc., Battaglin Italia Srl, Cicli Pinarello Srl, Giant Manufacturing Co. Ltd., Pending System GmbH & Co. KG, Planet X Ltd., Ritchey Design Inc., Specialized Bicycle Components Inc., Sunny Crown Enterprises Co. Ltd., and Tube Investments of India Ltd. among others.

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Bicycle Carbon Frames Market: Key Drivers, Trends, and Challenges

The increasing demand for premium bicycles is notably driving the bicycle carbon frames market growth, although factors such as high costs associated with bicycle carbon frames may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bicycle carbon frames industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bicycle Carbon Frames Market Driver

The increasing demand for premium bicycles is notably driving the bicycle carbon frames market growth. The demand for premium bicycles is increasing across the world, owing to their enhanced riding and safety features. Premium bicycles are built using advanced technologies and modern designs by using high-end materials, such as carbon fiber, to offer comfort and durability. The price of a premium bicycle is more than $700. Cycling enthusiasts, adventure seekers, and urban commuters are the target customers for these bicycles. Developing countries, such as China and India, are witnessing strong growth in the demand for premium bicycles due to the increasing disposable incomes and rising affinity toward adventure cycling.

Key Bicycle Carbon Frames Market Trend

Government initiatives promoting the adoption of bicycles is the key market trend driving the bicycle carbon frames market growth. Governments of several countries are promoting bicycles as an alternate means of transportation. They are investing in improving transportation infrastructure to encourage more people to take upcycling. Many cities have adopted their own bicycle master plans. For instance, in the Netherlands, Germany, and the UK, there are designated lanes for bicycles. In the Netherlands, cyclists can claim incentives of $0.22 per kilometer from their employers for commuting on bicycles. Multinational companies, such as Apple Inc., Facebook Inc., and Microsoft Corp., are encouraging their employees to cycle to work. Such initiatives act as a crucial driver for the growth of the market in focus.

Key Bicycle Carbon Frames Market Challenge

The major challenge impeding the bicycle carbon frames market growth is the high costs associated with bicycle carbon frames. Bicycle carbon frames constitute a large portion of the price of carbon fiber bicycles. Hence, the cost of carbon frames impacts the pricing of carbon fiber bicycles significantly. As the demand for lightweight and durable bicycles is increasing in the market, carbon fiber bicycles are seen as a crucial solution for bicycle manufacturers to satisfy this demand. However, the cost of carbon frames is higher than aluminum frames, which are their closest alternative. It is essential for mountain bicycles to be light, sturdy, and reliable to ensure a safe journey. The use of carbon frames increases the cost of these bicycles significantly, which poses a major challenge for the adoption of mountain bicycles in emerging economies worldwide.

This bicycle carbon frames market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bicycle carbon frames market is a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bicycle carbon frames ma

The global suspension bike front fork market, valued at $218 million in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 13.8% from 2025 to 2033. This expansion is fueled by several key factors. The increasing popularity of mountain biking and gravel cycling, demanding higher performance and comfort, significantly boosts demand for high-quality suspension forks. Technological advancements, leading to lighter, stronger, and more responsive forks with improved features like air spring systems and adjustable damping, further contribute to market growth. The growing preference for e-bikes also fuels the market, as these bikes often require specialized suspension forks to handle the added weight and power. Furthermore, the expanding presence of online retail channels and improved accessibility to high-quality components contribute to market expansion. The market is segmented by application (Bicycle Repair Shops and OEMs) and type (Spring Fork, Resistance Adhesive Fork, Oil Spring Fork, and Oil and Air Fork). The OEM segment is expected to hold a larger market share owing to the large-scale procurement of forks by bicycle manufacturers. Geographically, North America and Europe are currently leading the market, but the Asia-Pacific region is expected to witness significant growth due to the rising disposable incomes and increasing adoption of cycling in developing economies like China and India. The competitive landscape includes a mix of established brands like RockShox, Fox, and Manitou, alongside specialized manufacturers and smaller players catering to niche markets. While challenges such as fluctuating raw material prices and intense competition exist, the overall market outlook remains positive, driven by the enduring popularity of cycling and continuous technological innovation within the suspension fork segment. The presence of diverse manufacturers ensures a variety of choices for consumers, ranging from budget-friendly options to high-performance, premium forks, further stimulating market growth. The increasing focus on sustainable and eco-friendly materials within the industry will also play a role in shaping the future of the suspension bike front fork market.

In fiscal year 2024, around 14.5 thousand Harley-Davidson motorcycles were sold across India. The significant increase in sales was due to the introduction of the Harley-Davidson X440, which was launched in July 2023. It is in collaboration with Hero MotoCorp and is the cheapest model in the brand's line-up. Harley-Davidson and India The product portfolio of the two-wheeler companies is gradually moving towards engines with higher volumes. Several foreign motorcycle companies established their presence in India by collaborating with domestic two-wheeler companies. KTM AG partnered with Bajaj Autos. Since fiscal year 2013, the sales volume for KTM bikes in India has grown considerably. This was in contrast with Harley-Davidson, which went solo in the country. In September 2020, it announced on seizing its operations, independently, in the country. This closure resulted in the unemployment of 70 employees. The company later partnered up with Hero MotoCorp which took over the distribution and manufacturing rights in the country. Two-wheeler industry The two-wheeler industry in India has grown rapidly, post-liberalization. In the last 30 years, the number of two-wheeler manufacturers soared in the country. It went on to become the largest commercial vehicles segment in terms of sales volume. The two-wheeler segment was further subdivided into scooters, motorbikes, and mopeds, with motorbikes being in the highest demand. The segment evolved quickly according to the market norms and customer requirements. Initially, two-wheelers in the country had a two-stroke engine, which was faced out owing to India being a signatory to the Kyoto protocol. The industry is now trending towards electrically operated vehicles.

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Cruiser Bikes Market Size 2024-2028

The cruiser bikes market size is forecast to increase by USD 13.19 billion and is estimated to grow at a CAGR of 4.5% between 2023 and 2028. The motorbike industry is experiencing a surge in demand due to the increasing preference for technologically advanced two-wheelers. With the advent of smart features such as GPS navigation, Bluetooth connectivity, and advanced safety systems, motorbikes have evolved from mere modes of transportation to sophisticated machines. Additionally, there is a growing trend towards luxurious bikes, catering to the demand for comfort and style. Furthermore, the rise of bike touring activities has fueled the need for motorbikes that offer superior performance and endurance. Manufacturers are responding to these trends by introducing innovative models that blend technology, luxury, and performance, making the motorbike market an exciting space to watch.

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

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Market Dynamic and Customer Landscape

The market is a segment of the motorcycle industry that caters to consumers seeking comfortable, stylish, and powerful vehicles. Cruiser bikes, also known as touring bikes or power cruisers, are characterized by their large V-twins engines, low seats, and long wheelbases. These bikes offer a unique riding experience, allowing riders to enjoy long rides in comfort and style. The market for cruiser bikes is witnessing significant growth due to the increasing demand for technologically advanced vehicles. High-tech features such as GPS navigation, infotainment systems, and AI technologies are becoming increasingly popular among consumers. Moreover, the emergence of battery-powered bikes is expected to revolutionize the market, offering consumers the benefits of fuel efficiency and low maintenance. The market can be segmented based on engine capacity, price, Low price, High price and features. Engine capacity ranges from low (250cc-750cc) to medium (751cc-1250cc) and high (above 1251cc). Price ranges from low, medium, to high, with each segment catering to different consumer segments. Fuel efficiency and improved designs are key factors driving the growth of the market. The future of the market looks promising, with novel systems and autonomous technologies expected to further enhance the riding experience. Our researchers analyzed the data with 2023 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.

Key Market Driver

Rising demand from customers for technologically advanced motorbikes is notably driving market growth. Cruiser bikes continue to be a popular choice for motorbike enthusiasts due to their unique design and features. These vehicles offer a comfortable riding experience, making them an ideal option for daily commutes and touring applications.

Moreover, the engine capacity of cruiser bikes varies, with models ranging from low-price options to high-end, technically advanced vehicles. Fuel efficiency is another important factor for many buyers, making fuel-efficient cruiser bikes a desirable choice. Manufacturers such as Honda Motor Company and others are continually improving cruiser bike designs to cater to diverse customer needs. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

New product launches is the key trend in the market. Vendors in the market are continually introducing new models with enhanced features and advanced technologies to cater to various customer segments. For instance, Honda unveiled the Honda H'ness CB350 Anniversary Edition in India in December 2021, featuring a 349.3cc engine and improved designs.

Moreover, Kawasaki launched the W175 in India in July 2021, boasting a 175cc engine, disc brakes, and strong torque. In April 2021, Royal Enfield introduced the Meteor 350 in the USA, which offers a daily commute application with a medium price range. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

Faulty parts, poor build quality, and design issues associated with cruiser bikes is the major challenge that affects the growth of the market. The cruiser bike market experiences varying demand based on factors such as engine capacity, price, and application.

Moreover, While technically advanced, high-price cruisers appeal to touring enthusiasts, medium-priced options cater to daily commute needs, and low-priced models target budget-conscious consumers. However, challenges persist, including the limited appeal of some brands in specific markets. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the

Honda sold around 18.7 million motorcycles worldwide in the fiscal year 2024. This is a year-on-year rise of 0.3 percent compared to the company's 2023 sales volume. Honda's motorcycle sales declined for the first time in five years in 2020, after demonstrating an upward trend between 2016 and 2019.

Among the leading brands in key markets
Pakistan, India, Vietnam, and the United States are among Honda’s largest target markets. At the end of the 2023 fiscal year, Honda Motorcycles and Scooters held about 25 percent of the motorcycle market in India. In 2023, North American Honda sales reached approximately 459,000 units, making it the second leading regional market . The Honda Motor Corporation is one of the largest motorcycle manufacturers in the United States and worldwide. Trailing the automobile business
Honda's revenue generated through motorcycle sales fell short of the automobile business. Motorcycles accounted for around 15 percent of overall revenue streams. This figure compares to close to 70 percent attributable to the company’s automobile business. Overall, Honda’s revenue rose by about 20.8 percent in the financial year ended March 31, 2023. This increase and the jump in unit sales can both be linked to demand picking back up after the national lockdowns in 2020, which were linked to the COVID-19 pandemic.

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Bicycle Market Size 2025-2029

The bicycle market size is forecast to increase by USD 29.08 billion at a CAGR of 7.1% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends and factors. The increasing number of bicycle sports events worldwide is fueling the demand for high-performance bicycles, particularly in regions with a strong cycling culture. Additionally, the rise of bicycle rental services, particularly in urban areas, is making cycling more accessible and convenient for consumers, leading to increased market penetration. However, the market also faces challenges, such as an increasing number of product recalls due to safety concerns, which can negatively impact consumer trust and market growth. Companies seeking to capitalize on market opportunities should focus on enhancing product safety and quality, while also exploring partnerships with sports events and rental services to expand their customer base. Effective supply chain management and strategic pricing will also be crucial in navigating market challenges and maintaining competitiveness. Overall, the market presents significant growth potential for companies that can effectively address consumer needs and respond to market trends.

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

Request Free SampleThe market encompasses various segments, including mountain bikes, road bikes, hybrid bikes, BMX racing, and adventure sports. This industry experiences significant growth due to increasing consumer preference for eco-friendly personal transportation options. Mountain bikes and road bikes cater to enthusiasts seeking high-performance cycling experiences, while hybrid bikes offer versatility for everyday commuting. Electric cycles, also known as e-bikes, have gained popularity due to their ability to help riders overcome hilly terrain and longer commutes. The rise of electric vehicles and concerns over carbon emissions have contributed to the increasing demand for bicycles as a sustainable alternative to fossil fuel-powered cars. Governments and municipalities worldwide invest in bicycle-friendly infrastructure, such as dedicated lanes and bike paths, further encouraging cycling as a viable transportation option. Technological advancements, including GPS technology and mobile app development, enhance the cycling experience and cater to consumers' lifestyle needs. Lightweight materials and cargo bikes expand the market's reach, offering practical solutions for personal transportation and errands. The bicycle industry continues to evolve, with dockless bicycle-sharing systems and bicycle-sharing companies revolutionizing urban mobility. Overall, the market exhibits growth, driven by consumer demand for eco-friendly, cost-effective, and convenient transportation solutions.

How is this Bicycle Industry 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. ProductOn-road and trackOff-roadX-road and hybridEnd-userAdultsChildrenDistribution ChannelOfflineOnlinePropulsionManual bicyclesMotor-assisted bicyclesTechnologyElectricConventionalGeographyAPACChinaIndiaJapanEuropeFranceGermanyThe NetherlandsUKNorth AmericaUSCanadaMexicoSouth AmericaMiddle East and Africa

By Product Insights

The on-road and track segment is estimated to witness significant growth during the forecast period.The market encompasses various on-road categories, including road bicycles and mountain bikes. Road bicycles, designed for paved roads, feature lightweight frames and thin tires to optimize efficiency and speed. Their geometry and dropped handlebars enable an aerodynamic riding position, making them suitable for experienced cyclists and city touring. Conversely, mountain bikes are engineered for off-road terrain with sturdy frames and wider tires. Additionally, the market includes electric cycles, which provide eco-friendly personal transportation solutions in metropolitan areas plagued by traffic congestion and high fuel prices. These electric bicycles, or e-bikes, incorporate lightweight lithium-ion batteries and pedal assist to reduce carbon emissions, aligning with the trend toward sustainable mobility. Furthermore, the market caters to diverse consumer lifestyles with hybrid models, cargo bikes, and conventional bicycles. Adventure sports enthusiasts can explore nature on mountain bikes, while fitness cycling and urban commuting are popular uses for commuter bikes. Cycling infrastructure, such as bike-sharing services and GPS technology integrated with mobile apps, has made cycling more accessible and convenient. In , the market offers a range of on-road and off-road bicycles, including road bicycles, mountain bikes, electric bicycles, and