The North America Bicycle Market Report Segments the Industry Into Type (Road Bicycles, Hybrid Bicycles, All-Terrain/Mountain Bicycles, E-Bicycles, Other Types), Distribution Channel (Offline Retail Stores, Online Retail Stores), and Geography (United States, Canada, Mexico, Rest of North America). The Market Forecasts are Provided in Terms of Value (USD).

In 2023, the U.S. bicycle market was valued at *** billion U.S. dollars. Over the coming years, the market is projected to increase by a quarter, growing to a value of about **** billion U.S. dollars by 2029. This development follows a worldwide trend, with the global bicycle market expected to increase by nearly ** percent in the same period.

In 2023, electric bicycles accounted for nearly **** percent of the total United States' bicycle market. This was a significant increase compared to 2015, when the market share still stood at **** percent. Electric bikes made up more than *** percent of the market for the first time in 2020.

The Bicycle Market Report is Segmented by Product Type (Road/City, Mountain/All-Terrain, Hybrid, E-Bicycle, and Others), Design (Regular and Folding), End-User (Men, Women, and Children), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography ((North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Global bicycle sales are projected to rise by **** percent between 2023 and 2029. In 2023, the global market value of the bicycle industry was **** billion U.S. dollars. The market is expected to continue to grow in the coming years and reach a value of ** billion U.S. dollars in 2029.

The US 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.

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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?

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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.

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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.

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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.

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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

U.S. Indoor Cycling Market has the potential to reach a value of USD 0.7 Billion By 2035 and grow at an average CAGR of 3.42%.

North America Bicycle Market was valued at USD 7.57 Billion in 2024 and is projected to reach USD 8.81 Billion by 2031, growing at a CAGR of 1.92% from 2024-2031.

North America Bicycle Market: Definition/Overview

The bicycle market encompasses the manufacturing, distribution, and retail of various types of bicycles and related accessories for transportation, recreation, and sports activities. These products cater to diverse consumer segments, ranging from casual riders to professional cyclists, offering different features and specifications to meet varying needs. Bicycle manufacturers and retailers provide comprehensive product lines including traditional pedal- powered bikes, electric-assisted models, and specialized performance bicycles.

The market integrates advanced manufacturing technologies, sustainable materials, and innovative design solutions, enabling enhanced riding experiences. Bicycles serve as essential mobility solutions for urban commuters, fitness enthusiasts, and recreational riders seeking environmentally friendly transportation alternatives.

According to Cognitive Market Research, The global bicycle market size is USD 65.2 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 10.2% from 2023 to 2030.

The demand for bicycle is rising due to the numerous strategies adopted by key participants.
Demand for electric bicycles remains higher in the bicycle market.
The men category held the highest bicycle market revenue share in 2023.
Asia Pacific bicycle will continue to lead, whereas the European bicycle market will experience the most substantial growth until 2030.

Urbanization and Government Initiatives to Provide Viable Market Output

The trend of urbanization is leading to increased demand for bicycles as a practical and efficient mode of transportation in crowded urban areas. Bicycles can be faster and more convenient than cars or public transportation in city traffic, and they take up less space, making them a popular choice for city dwellers. Government initiatives to promote sustainable transportation and reduce carbon emissions are also driving growth in the bicycle market. Governments are investing in infrastructure, such as bike lanes and bike-sharing programs, and providing incentives for consumers to choose bicycles over other modes of transportation, such as tax incentives or subsidies.

For instance, in 2018, Chinese bike-sharing company Mobike was acquired by Meituan-Dianping, a Chinese online food delivery and local services platform. The acquisition allowed Meituan-Dianping to expand its offerings and provide customers with a more comprehensive range of services.

(Source:www.reuters.com/article/us-mobike-m-a-meituan-idUSKCN1HB0DU/)

Increasing Awareness of Health and Fitness and Technological Advancements to Propel Market Growth

Increased awareness of the health benefits of cycling, such as improved cardiovascular health, weight loss, and reduced stress, is driving demand for bicycles. More people are looking for ways to stay active and improve their overall health, and cycling is a convenient and enjoyable way to achieve those goals. Moreover, advancements in bicycle technology, such as e-bikes and other electric-powered bicycles, are driving innovation and growth in the market. E-bikes, in particular, are becoming increasingly popular as they provide an easier and more convenient cycling experience, making cycling accessible to a wider range of consumers.

For instance, in 2020, Specialized launched its Turbo Creo SL e-road bike, which is designed to provide a smooth and efficient ride on both paved and unpaved roads. The bike features a lightweight carbon frame, a powerful motor, and long-lasting battery, making it ideal for both commuting and recreational riding.

(Source:www.bikeradar.com/news/specialized-turbo-creo-sl/)

Increasing traffic congestion in urban areas is driving the demand for bicycles for short distance travelling

Market Dynamics of Bicycle Market

High Cost, Limited Infrastructure and Weather Conditions to Restrict Market Growth

The high cost of high-end bicycles and e-bikes makes them less accessible to some consumers, which can limit the market's growth potential, particularly in developing countries. In addition, limited infrastructure, such as bike lanes and secure bike parking, can discourage consumers from using bicycles, particularly in areas with high traffic or safety concerns. Weather conditions, such as rain, snow, and extreme heat, can also limit the usability of bicycles and discourage consumers from using them as a mode of transportation. Furthermore, concerns about safety, particularly among new or inexperienced cyclists, can limit the market's growth potential, as accidents involving bicycles and motor vehicles can discourage consumers from using bicycles as a mode of transportation.

Safety Concerns and Risk of Road Accidents

A significant restraint in the bicycle market is the perception of safety risks, especially in urban environments with mixed traffic. Many potential cyclists are hesitant to use bicycles for commuting or regular travel due to fear of accidents, lack of protective road behavior from motorists, and insufficient enforcement of traffic rules for non-motorized vehicles. Even in cities where bike lanes exist, concerns over speeding vehicles, distracted drivers, and lack of visibility at night can discourage widespread adoption. This safety anxiety is particularly strong ...

For the third consecutive year, the U.S. bicycle market recorded decline in sales value, which decreased by -14.4% to $1.6B in 2024. Over the period under review, consumption recorded a pronounced reduction. As a result, consumption reached the peak level of $2.5B. From 2022 to 2024, the growth of the market failed to regain momentum.

According to Cognitive Market Research, the global Indoor Cycling market size is USD 1625.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.20% from 2024 to 2031.

North America holds the major market of more than 40% of the global revenue with a market size of USD 650.08 million in 2024 and will rise at the compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Europe accounts for a share of over 30% of the global market size of USD 487.56 million.
Asia Pacific holds the market of around 23% of the global revenue with a market size of USD 373.80 million in 2024 and will rise at the compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
Latin America holds more than 5% of the global revenue with a market size of USD 81.26 million in 2024 and will rise at the compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.
Middle East and Africa holds the major market of around 2% of the global revenue with a market size of USD 32.50 million in 2024 and will rise at the compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Gyms & clubs holds the highest Indoor Cycling market revenue share in 2024.

Market Dynamics of Indoor Cycling Market

Key Drivers for Indoor Cycling Market

Increasing Focus on Health and Wellness among Individuals to Increase the Demand Globally

The increasing emphasis on health and wellness among individuals is one of the key drivers for the growth of the indoor cycling market. As people become more health-conscious, they seek convenient and effective ways to stay fit. Indoor cycling offers a high-intensity cardiovascular workout that is both efficient and accessible. Additionally, indoor cycling classes often incorporate elements of community and motivation, creating a supportive environment that encourages participants to push themselves further. The growth of boutique fitness studios specializing in indoor cycling has also contributed to its popularity, as they offer tailored experiences and innovative programming to attract and retain customers. Moreover, the integration of technology, such as connected stationary bikes and virtual reality simulations, has enhanced the indoor cycling experience, making it more engaging and interactive.

Rise of Technology Integration in Fitness Activities to Propel Market Growth

The integration of technology in fitness activities, such as indoor cycling, drives market growth by enhancing user experience and accessibility. Features like virtual reality (VR), augmented reality (AR), and gamification make indoor cycling more engaging and entertaining, attracting a broader audience. Connected fitness platforms offer personalized tracking and interactive training options, fostering user commitment and loyalty. Moreover, streaming services provide convenient access to a variety of cycling workouts, eliminating barriers like geographical constraints or time limitations. As technology continues to develop, the market for indoor cycling expands, catering to diverse preferences and lifestyles and sustaining its momentum in the health and wellness industry.

Restraint Factor for the Indoor Cycling Market

High Initial Cost to Limit the Sales

One key limiting factor for the market of indoor cycling is the high initial cost associated with purchasing specialized equipment and subscribing to digital platforms. Indoor cycling bikes and accessories can be expensive, deterring some potential customers, especially those on tight budgets or uncertain about committing to a new fitness routine. Additionally, while technology integration has expanded access to virtual classes and interactive experiences, not everyone has reliable internet access or the necessary devices to participate. Furthermore, the market may face saturation in regions where indoor cycling facilities are already prevalent, limiting growth opportunities. Addressing affordability concerns, improving accessibility, and finding innovative ways to differentiate offerings beyond technology could help mitigate these limitations and broaden the appeal of indoor cycling to a more diverse demographic.

Impact of Covid-19 on the Indoor Cycling Market

The COVID-19 pandemic significantly impacted the indoor cycling market in both positive and negative ways. Initially, widespread gym closures and restrictions on outdoor activities drove a surge in demand for at-home fitness solutions, including indoor cyc...

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:

The size of the U.S. Bicycle Accessories Market market was valued at USD 1.25 billion in 2023 and is projected to reach USD 2.10 billion by 2032, with an expected CAGR of 7.7 % during the forecast period. The U. S. bicycle accessories market concerns the products that are created to improve appearance, safety, and performance of bicycles. These consist of helmets, lights, locks, pedals, saddles and bike racks among others. They are important for enhancing the motorcycle riding experience, enhancing safety, and for meeting the user’s individual requirements. The trends identified in the market are more of smart accessories, GPS trackers & performance monitors, making products more environmental friendly & sustainable and finally, more customization of goods is likely to occur. The market is driven by recreational cycling and cycling to work, cycling for health purposes and the general awareness of bicycles’ safety and theft. Recent developments include: In August 2023, Central European-based Aspire Sports became Poland's exclusive distributor for Lezyne products. This new partnership brings together one of Central Europe’s most innovative and modern distributors with the industry’s premier manufacturer of cycling accessories. , In October 2023, Yeti Cycles announced that it added the option for riders to purchase directly from its website. Yeti has now opened up the option for US customers to purchase its bikes from Yeticycles.com alongside the option of authorized dealers and online partners. .

USD 2469.86 Million in 2024; projected USD 4191.62 Million by 2033; CAGR 5.99%.

The global bicycle market is projected to grow from USD 72.5 billion in 2025 to USD 112.4 billion by 2035, reflecting a CAGR of 4.5%.

Analyzing Top Countries Formulating, Distributing, and Supplying Bicycle Market Growth

This statistic represents the percentage distribution of U.S. bicycle sales in 2016, sorted by key source country. In that year, some **** percent of bicycles sold in the United States were imported from China or Taiwan. In 2015, U.S. bicycle market was sized at around *********** U.S. dollars.

The global sports bicycle market size was valued at USD 19.43 billion in 2023. It is estimated to reach USD 32.68 billion by 2032, growing at a CAGR of 5.95% during the forecast period (2024–2032).
Report Scope:

The global bicycle and road bike market is poised for significant expansion, projected to grow from $54.423 billion in 2021 to $88.347 billion by 2033. This growth is propelled by a confluence of factors, including heightened health and environmental consciousness, government initiatives promoting cycling infrastructure, and rapid urbanization. The rise of electric bicycles (e-bikes) is a primary catalyst, revolutionizing both commuting and recreational cycling. Asia-Pacific stands as the largest and most rapidly growing market, driven by high demand in countries like China and India. Europe and North America remain crucial markets, characterized by a strong demand for premium, technologically advanced, and specialized bicycles. The industry's future will be shaped by continuous innovation in materials, e-bike technology, and smart, connected features. Key strategic insights from our comprehensive analysis reveal:

The Asia-Pacific region is the market's epicenter, holding the largest market share and exhibiting the highest growth rate, driven by urbanization and a growing middle class in nations like India and China.
Electric bicycles are the single most significant growth driver, transforming the market by expanding the consumer base to include commuters and individuals with varying fitness levels, thereby boosting sales across all regions.
Technological integration, including lightweight composite materials, advanced gear systems, and smart connectivity features (GPS, performance tracking), is becoming a key differentiator for manufacturers in a competitive landscape.

Global Market Overview & Dynamics of Bicycle and Road Bike Market Analysis The global bicycle and road bike market is on a trajectory of steady and sustainable growth, with a projected Compound Annual Growth Rate (CAGR) of 4.12% from 2021 to 2033. This expansion is fueled by a global shift towards healthier lifestyles, eco-friendly transportation, and advancements in bicycle technology. E-bikes, in particular, are broadening the market's appeal. While Asia-Pacific leads in volume and growth, Europe and North America are significant contributors, focusing on high-performance and recreational segments. The market's dynamism is influenced by evolving consumer preferences, government policies, and competitive innovations. Global Bicycle and Road Bike Market Drivers

Increasing Health and Wellness Consciousness: A growing global emphasis on physical fitness and active lifestyles encourages consumers to adopt cycling as a form of exercise and recreation, directly boosting bicycle sales.
Government Support and Urban Infrastructure Development: Governments worldwide are investing in dedicated cycling lanes, bike-sharing programs, and offering subsidies for e-bike purchases to reduce traffic congestion and carbon emissions, making cycling a safer and more attractive option.
Rising Environmental Concerns: The increasing awareness of climate change and the environmental impact of fossil fuels is driving a consumer shift towards sustainable and green transportation alternatives like bicycles.

Global Bicycle and Road Bike Market Trends

Dominance of Electric Bicycles (E-bikes): The rapid adoption of e-bikes across various segments, from commuting to mountain biking, is the most significant trend, making cycling more accessible to a broader demographic.
Integration of Smart Technology: Bicycles are increasingly equipped with smart features such as GPS navigation, anti-theft systems, performance trackers, and smartphone connectivity, enhancing the overall user experience.
Growth of Niche Segments: There is a rising demand for specialized bicycles tailored for specific activities, such as gravel bikes for mixed-terrain riding, lightweight carbon-fiber road bikes for racing, and foldable bikes for urban commuters.

Global Bicycle and Road Bike Market Restraints

High Initial Cost of Premium Bicycles: The high price point of technologically advanced road bikes, specialized models, and particularly e-bikes can be a significant barrier for price-sensitive consumers.
Safety Concerns and Lack of Infrastructure: In many regions, the absence of safe and dedicated cycling infrastructure, coupled with heavy traffic, poses a significant safety risk, deterring potential cyclists.
Competition from Alternative Micro-Mobility Options: The rise of other convenient urban transport solutions, such as electric scooters and ride-sharing...

The Report Covers Latin America Bike Sharing Market Companies and it is segmented by Bike Type (Traditional/Regular Bike and E-bike), Sharing System (Docked and Dockless), and Country (Brazil, Columbia, Mexico, Chile, and Rest of Latin America).