PUBLISHER: Grand View Research | PRODUCT CODE: 1842351
PUBLISHER: Grand View Research | PRODUCT CODE: 1842351
The global bike market size was estimated at USD 80.73 billion in 2024 and is projected to reach USD 140.83 billion by 2033, growing at a CAGR of 6.6% from 2025 to 2033. The industry is being shaped by a sustained transition toward electrified and higher-value product segments, and it is being positioned as a strategic component of urban mobility, last-mile logistics, and leisure demand.
Revenue growth has been concentrated in electrically assisted bicycles (e-bikes), while traditional pedal-only categories have continued to service large-volume, lower-price tiers. Manufacturers and distributors have prioritized investment in product differentiation, after-sales services, and digital retail channels to capture expanding addressable markets.
Governments worldwide are significantly contributing to efforts to promote cycling. In 2024, the European Union signed the European Declaration on Cycling, formally recognizing the bicycle as a climate-friendly form of transportation and committing to expanded cycling infrastructure across all member states. Simultaneously, cities such as Tokyo, Paris, and Bogota are redesigning urban spaces with dedicated bicycle lanes, subsidized parking stations, and public bike-sharing systems. India's "Cycle4Change Challenge," supported by the Ministry of Housing and Urban Affairs, has also mobilized over 100 cities to implement non-motorized transit initiatives. These policies are not only making cities more bike-friendly but also reinforcing consumer confidence in the bicycle as a long-term transport solution.
In Germany, more than 11 million bicycles were sold in 2023, with e-bikes making up over 50% of all sales. The U.S. also reported record bicycle imports in the same year, signaling strong domestic demand despite supply chain challenges. The appeal of cycling has expanded well beyond commuting. Recreational cycling, endurance biking, and mountain biking have all experienced substantial growth. Consumers are increasingly investing in high-performance bicycles, advanced gear, and customized accessories, underscoring both a recreational and aspirational product.
Global Bike Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global bike market report on the basis of type, product, price range, end-use, application, and region.