PUBLISHER: TechSci Research | PRODUCT CODE: 1764178
PUBLISHER: TechSci Research | PRODUCT CODE: 1764178
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The Global Bicycle Market was valued at USD 54.8 billion in 2024 and is projected to reach USD 71.3 billion by 2030, growing at a CAGR of 4.40% during the forecast period. This market is gaining strong momentum as urban areas seek sustainable mobility solutions and consumers place greater emphasis on health and fitness. With increasing support from governments-such as the European Union's 2023 "European Declaration on Cycling," which emphasizes cycling as a tool for decarbonization-the global market is positioned for robust growth. Public investment in bike infrastructure, coupled with environmental, economic, and health incentives, is fostering a more bike-friendly ecosystem. Additionally, technological innovations in electric and connected bicycles, along with rising participation in outdoor recreational activities, are expanding the appeal of bicycles across diverse consumer segments. Manufacturers are leveraging these shifts by launching specialized and performance-driven models for urban commuting, fitness, and sport.
Market Overview | |
---|---|
Forecast Period | 2026-2030 |
Market Size 2024 | USD 54.8 Billion |
Market Size 2030 | USD 71.3 Billion |
CAGR 2025-2030 | 4.40% |
Fastest Growing Segment | Electric |
Largest Market | Asia Pacific |
Key Market Drivers
Rising Health and Fitness Awareness
Increasing global awareness about the health benefits of physical activity is a major factor boosting bicycle adoption. As individuals strive to incorporate exercise into their daily routines, cycling stands out as an accessible, low-impact workout that supports cardiovascular health, muscular endurance, and mental well-being. According to the World Health Organization, physical inactivity remains a global concern, especially in high-income countries. Promoting regular cycling could prevent thousands of premature deaths annually-particularly in Europe, where it is estimated that 15 minutes of cycling or walking daily could save 100,000 lives. Additionally, employers in regions like the UK report improved productivity from cycling employees, who take fewer sick days. These factors are making cycling an integral part of healthier lifestyle choices, appealing to a broad demographic range.
Key Market Challenges
Supply Chain Disruptions
The bicycle industry continues to face operational challenges due to ongoing supply chain disruptions. Shortages of essential components such as drivetrains, braking systems, and electronic assemblies are impacting production timelines and slowing down inventory turnover. The global logistics bottlenecks-including increased freight costs and delayed shipments-are further complicating distribution and fulfillment. These issues have forced manufacturers to reconsider their procurement strategies, with a growing shift toward regional sourcing, diversified supplier networks, and localized production to ensure resilience. Despite growing consumer demand, these logistical and material constraints are limiting market responsiveness and extending delivery cycles.
Key Market Trends
Smart and Connected Bicycles
Technological integration is emerging as a transformative trend in the global bicycle market. Smart bicycles equipped with features like GPS navigation, fitness tracking, anti-theft systems, and mobile app connectivity are gaining traction, especially among urban commuters and tech-conscious users. In March 2025, Jio announced plans to launch a smart electric bicycle targeting urban consumers with integrated features such as an 80 km range, GPS support, and 5G-enabled smartphone compatibility. Additional highlights include regenerative braking, intelligent pedal assist, real-time tracking, and over-the-air software updates. This integration within a broader digital ecosystem-including e-commerce and smart city services-demonstrates the market's direction toward enhanced user experience and mobility innovation. As technology evolves, smart bikes are poised to redefine how consumers interact with their vehicles and urban infrastructure.
In this report, the Global Bicycle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the Global Bicycle Market.
Global Bicycle Market report with the given market data, TechSci Research offers customizations according to the company's specific needs. The following customization options are available for the report: