Bicycle Market Report - Industry Analysis, Size & Forecast (2025 - 2030)

The Bicycle Market Report is Segmented by Type (Road Bicycle, Hybrid Bicycle, all Terrain Bicycle, E-Bicycle, and Other Types), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.

Bicycle Market Report - Industry Analysis, Size & Forecast (2025 - 2030)

Bicycle Market Size

Bicycle Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 58.52 Billion
Market Size (2030) USD 71.88 Billion
CAGR (2025 - 2030) 4.20 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Bicycle Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Bicycle Market Analysis

The Bicycle Market size is estimated at USD 58.52 billion in 2025, and is expected to reach USD 71.88 billion by 2030, at a CAGR of 4.2% during the forecast period (2025-2030).

The bicycle industry is experiencing a significant transformation driven by sustainability initiatives and technological innovation. Manufacturers are increasingly incorporating artificial intelligence (AI) to enhance product development, predict consumer demand patterns, and optimize supply chain operations. The integration of smart technologies has led to the emergence of connected bicycles equipped with features like GPS tracking, smartphone connectivity, and performance monitoring capabilities. This technological evolution is particularly evident in the electric bicycle segment, where manufacturers are developing more sophisticated power assistance systems and battery technologies to improve range and performance.


Infrastructure development has become a cornerstone of bicycle market growth, with governments worldwide making substantial investments in cycling facilities. In November 2022, the Netherlands demonstrated this commitment by allocating approximately USD 1.2 billion towards cycling infrastructure development. Similarly, in May 2023, the French government announced a comprehensive EUR 2 billion investment plan through 2027 to enhance cycle infrastructure and promote bicycle adoption. These investments are focused on expanding dedicated cycling lanes, improving bike parking facilities, and creating interconnected cycling networks in urban areas.


Product innovation continues to drive bicycle industry trends, with manufacturers focusing on developing specialized bicycles for different user segments. The industry has witnessed a surge in the development of lightweight materials, aerodynamic designs, and ergonomic features to enhance the riding experience. For instance, in Germany, the Giant Group launched its Momentum brand e-bikes in 2023, introducing the Voya E+ for urban commuting and the PakYak E+ for adventure light cargo transportation. These innovations reflect the industry's response to diverse consumer needs and preferences.


The bicycle retail landscape is evolving with the expansion of specialized bicycle stores and the growth of omnichannel distribution networks. Companies are adopting innovative retail strategies to enhance customer experience and provide comprehensive service solutions. For example, Pedego has established a network of over 200 locally-owned stores globally, offering not only sales but also maintenance services and rental options. This retail evolution is complemented by the Netherlands' innovative incentive program that offers cyclists USD 0.22 per kilometer cycled (tax-free), demonstrating how retail growth can be supported by government initiatives to encourage bicycle adoption.

Segment Analysis: By Type

E-Bicycles Segment in Global Bicycle Market

The electric bicycle segment has emerged as the dominant force in the global bicycle market, commanding approximately 48% of the total bicycle market share in 2024. This substantial market position is driven by increasing consumer preference for recreational and adventure activities, coupled with the widespread adoption of electric bicycle applications across various sectors, including logistics, food delivery, tourism, and e-bike rental services. The segment's growth is further bolstered by mounting concerns about vehicle emissions and traffic congestion, prompting several automakers to diversify their portfolios by entering the expanding e-bike market. Government programs and incentives across various developed and developing countries have also played a crucial role in encouraging e-bike sales, with many regions offering subsidies and implementing supportive policies to promote green transportation. Additionally, the segment has witnessed significant technological advancements, with manufacturers focusing on incorporating features like anti-theft systems, smart monitoring capabilities, and improved battery performance to enhance user experience.

Market Analysis of Bicycle Market: Chart for By Type

Remaining Segments in Global Bicycle Market

The bicycle market encompasses several other significant segments, including all-terrain bicycles, road bikes, hybrid bicycles, and other specialized types. All-terrain bicycles represent a substantial portion of the market, catering to the growing interest in performance-based adventure sports and off-road activities. Road bikes continue to maintain their importance in the market, particularly popular among urban commuters and professional cyclists, offering specialized features for smooth pavement riding. Hybrid bicycles combine the advantages of both road and mountain bicycles, providing versatility for various terrain types and usage scenarios. The remaining specialized types, though smaller in market share, serve specific niche requirements and contribute to the overall market diversity through innovative designs and specialized applications.

Segment Analysis: By Distribution Channel

Offline Retail Stores Segment in Global Bicycle Market

The offline retail stores segment continues to dominate the global bicycle retail industry, holding approximately 81% market share in 2024. This channel includes specialty stores, supermarkets/hypermarkets, and warehouse clubs, which offer greater visibility and a wide assortment of bicycles, including electric bicycles. Prominent players operating in the market prefer selling through these stores as they provide a convenient retail channel for both end users and vendors. The high and medium-level income groups have increased their frequency of visiting specialty stores, while impulsive buying behavior has further aided bicycle sales through these outlets. Due to huge retail spaces catering to a wide variety of preferences, supermarkets/hypermarkets have emerged as prominent channels for bicycle sales. These stores provide exclusive discounts, deals, and incentives to attract customers and increase their in-store sales as they procure products in high volumes compared to specialty stores. Additionally, offline stores offer personalized/customized buying options, allowing customers to choose specific bicycle designs and colors while getting their products instantly.

Online Retail Stores Segment in Global Bicycle Market

The online retail stores segment is projected to witness the fastest growth in the global bicycle retail market, with an expected CAGR of approximately 13% during 2024-2029. The remarkable growth is primarily driven by the convenience these platforms provide to consumers, allowing them to easily compare different options before making a purchase. The growth opportunity for bicycle sales through internet retailing has compelled online vendors to improve purchase processes in terms of security and reliability. Manufacturers across the globe are increasingly focusing on selling their products through their online portals to reduce retail space costs and wholesaler fees while increasing profit margins. With the rise of internet penetration and small businesses leveraging websites, manufacturers are eliminating wholesalers and selling products directly to their consumers. The COVID-19 pandemic has further accelerated this shift, as consumers adapted to online shopping during government-mandated quarantines, leading to online stores increasing their market shares in terms of revenue, popularity, and comprehensive product offerings of local and international brands.

Bicycle Market Geography Segment Analysis

Bicycle Market in North America

The North American bicycle market demonstrates strong growth potential driven by increasing cycling events and favorable government initiatives promoting sustainable transportation. The United States leads the regional bicycle market with advanced infrastructure and growing adoption of electric bicycles, followed by Canada's thriving economy and conscientious approach to cycling. Mexico is emerging as a promising market with expanding cycling infrastructure and growing urban mobility needs. The region benefits from robust distribution networks, technological innovation in bicycle manufacturing, and increasing consumer awareness about health and environmental benefits.

Market Analysis of Bicycle Market: Forecasted Growth Rate by Region

Bicycle Market in United States

The United States dominates the North American bicycle market through its extensive cycling infrastructure and strong bicycle retail presence. The country has witnessed significant growth in the popularity of mountain bikes and electric bicycles among young consumers. Businesses are actively developing products to satisfy the nation's growing passion for two-wheeled mobility. The market is characterized by the presence of key players like Trek Bicycle Corporation, Redline Bicycles, and Cannondale Bicycle Corporation. The United States holds approximately 84% bicycle market share in the North American bicycle market, establishing its position as the regional leader.

Bicycle Market in Mexico

Mexico represents the fastest-growing market in North America with a projected growth rate of approximately 10% during 2024-2029. The country has made significant strides in developing infrastructure and roadways, including plain and terrain platforms, promoting bicycles on roads. The government's initiatives to enable cycling lanes and the increasing adoption of electric bicycles have created a favorable environment for bicycle market growth. The rising demand for bicycles as a convenient means of transportation, coupled with growing health consciousness, has led to the emergence of innovative solutions like dockless bicycle-sharing systems.

Bicycle Market in Europe

Europe maintains a strong position in the global bicycle market, driven by advanced cycling infrastructure and supportive government policies. The region demonstrates diverse market dynamics across countries, with Germany leading in market size, while the Netherlands shows remarkable growth potential. Countries like France, Italy, and Spain contribute significantly through their unique cycling cultures and growing adoption of electric bicycles. The market benefits from strong manufacturing capabilities, technological innovation, and increasing consumer preference for sustainable transportation solutions.

Bicycle Market in Germany

Germany leads the European bicycle market with its comprehensive infrastructure and strong manufacturing base. The country's extensive network of bicycle highways and dedicated cycling routes has created a robust cycling ecosystem. The market is characterized by significant electric bicycle adoption and continuous innovation in bicycle technology. With approximately 27% bicycle market share in the European bicycle market, Germany maintains its position as the region's largest market, supported by strong domestic manufacturers and growing consumer demand.

Bicycle Market in Netherlands

The Netherlands demonstrates the highest growth potential in Europe with a projected growth rate of approximately 11% during 2024-2029. The country's cycling-friendly infrastructure and cultural affinity for bicycles create a unique market environment. The Dutch market is characterized by innovative urban mobility solutions and strong adoption of electric bicycles. The government's continued investment in cycling infrastructure and supportive policies for bicycle commuting further strengthen the market's growth trajectory.

Bicycle Market in Asia-Pacific

The Asia-Pacific region represents a dynamic bicycle market characterized by diverse consumer preferences and varying levels of infrastructure development. China leads the regional market with its massive manufacturing capabilities and growing domestic demand, while India shows promising growth potential. Japan and Australia contribute significantly through their advanced urban mobility solutions and growing adoption of premium bicycles. The region benefits from technological innovation, increasing urbanization, and growing environmental consciousness.

Bicycle Market in China

China dominates the Asia-Pacific bicycle market through its extensive manufacturing capabilities and strong domestic demand. The country's market is characterized by significant electric bicycle adoption and continuous innovation in bicycle technology. Government regulations encouraging environmentally friendly technologies and corporate initiatives providing bicycles for employees drive market growth. The presence of major manufacturers and robust supply chain infrastructure further strengthens China's market position.

Bicycle Market in India

India emerges as the fastest-growing market in the Asia-Pacific region, driven by increasing urbanization and growing environmental consciousness. The country's market is characterized by rising demand for premium bicycles and growing adoption of electric bicycles. Government initiatives promoting cycling infrastructure and increasing health awareness among consumers contribute to market growth. The presence of established manufacturers and expanding distribution networks further supports market development.

Bicycle Market in South America

The South American bicycle market demonstrates growing potential with Brazil leading the regional market, while Argentina shows the fastest growth. The region's market is driven by changing consumer habits favoring eco-friendly and cost-effective transportation modes. Countries like Chile contribute through their developing cycling infrastructure and growing urban mobility needs. The market benefits from increasing environmental awareness, government initiatives promoting cycling, and rising health consciousness among consumers.

Bicycle Market in Middle East and Africa

The Middle East and Africa bicycle market shows promising growth potential with the United Arab Emirates leading the market size, while South Africa demonstrates the fastest growth. The region's market is characterized by increasing adoption of cycling for recreation and fitness purposes. Countries are investing in cycling infrastructure and promoting bicycle tourism. The market benefits from growing health consciousness, government initiatives supporting sustainable transportation, and increasing urbanization.

Competitive Landscape

Top Companies in Bicycle Market

The global bicycle market is led by established players like Giant Manufacturing, Accell Group, Trek Bicycle Corporation, and Pon Holdings, who have built strong brand recognition through decades of market presence. These largest bicycle companies are heavily investing in product innovation, particularly in the e-bike segment, with advanced features and sustainable manufacturing practices becoming key differentiators. The industry is witnessing a significant push towards technological integration, with companies developing smart bikes equipped with connectivity features and digital capabilities. Operational agility has become crucial as bicycle manufacturers expand their distribution networks through both offline and online channels, while strategic partnerships with technology providers and component manufacturers help strengthen their market positions. Geographic expansion remains a key focus, with companies establishing manufacturing facilities and R&D centers across multiple regions to better serve local markets and reduce supply chain dependencies.

Fragmented Market with Strong Regional Players

The bicycle market exhibits a fragmented competitive structure characterized by the presence of both global conglomerates and regional specialists. Global players leverage their extensive distribution networks, brand equity, and economies of scale to maintain bicycle market share, while regional players compete through localized product offerings and strong dealer relationships. The market demonstrates moderate consolidation in developed regions like Europe and North America, where established brands dominate, while emerging markets remain relatively fragmented with numerous local manufacturers.


The industry is experiencing steady consolidation through strategic mergers and acquisitions, as larger players seek to expand their geographic footprint and product portfolio. Companies are increasingly acquiring specialized manufacturers, particularly in the e-bike segment, to gain technological expertise and market share. Cross-border acquisitions have become more frequent, with European and Asian manufacturers actively pursuing opportunities to strengthen their presence in key markets, while also focusing on vertical integration to better control their supply chains and manufacturing capabilities.

Innovation and Sustainability Drive Future Success

For incumbent players to maintain and increase their bicycle market share, focus on sustainable manufacturing practices, product customization, and digital integration has become essential. Companies are investing in advanced materials and manufacturing processes to reduce environmental impact while improving product performance. The development of direct-to-consumer channels, enhanced after-sales service networks, and creation of brand communities through digital platforms are becoming crucial differentiators in the bicycle industry.


New contenders can gain ground by focusing on niche market segments and innovative business models, such as subscription-based services and smart mobility solutions. The increasing end-user concentration in urban areas and growing environmental consciousness present opportunities for market entry with eco-friendly and technologically advanced products. While substitution risk from alternative mobility solutions exists, regulatory support for cycling infrastructure and sustainable transportation provides a favorable environment for market growth. Success in the bicycle industry increasingly depends on the ability to adapt to changing consumer preferences, navigate complex supply chains, and maintain compliance with evolving safety and environmental regulations.

Major Players

  1. Trek Bicycle Corporation

  2. Pon Holdings BV​

  3. Giant Manufacturing Co. Ltd.

  4. Accell Group N.V.

  5. Merida Industry Co. Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Bicycle Market Concentration
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Recent Developments

  • March 2023: DOUZE Factory SAS, a France-based company specializing in the design and manufacture of cargo bikes, announced a partnership with Toyota to co-develop and release a new range of electric cargo bikes.
  • February 2023: Trek Bicycle Corporation launched two electric bikes, both designed as kid and cargo movers. The new Trek Fetch Plus 2 and Trek Fetch Plus 4 mark Trek’s deepest dive into the cargo e-bike segment. These family-friendly cargo e-bikes carry distinct designs, with the Trek Fetch Plus 2 rolling out as a longtail cargo bike and the Trek Fetch Plus 4 taking on a less common front-loader cargo bike layout.
  • February 2023: Pon. Bike announced the construction of a Lithuania factory in the Kėdainiai Free Economic Zone (FEZ), with the factory scheduled to begin operation in the summer of 2024. This construction is expected to strengthen manufacturing capacity in Europe and will look for assembling bicycles and producing electric bicycles.
  • January 2023: The world's leading electric two-wheeler brand, Yadea, launched its two new electric bike models at the Consumer Electronic Show (CES) 2023 in Las Vegas. According to the company claim, the models include Innovator, URider S, and Trooper 01.
  • September 2022: Pon Bikes acquired the Dutch e-bike brand Veloretti. The brand Veloretti is a prominent player across Europe. The company made plans to expand its bike ranges with innovative features.

Bicycle Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Increasing Number of Cycling Events
    • 4.1.2 Growing Health Conscious and Environmentally Friendly Population
  • 4.2 Market Restraints
    • 4.2.1 Availability of Alternative Transport Solutions
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Road Bicycle
    • 5.1.2 Hybrid Bicycle
    • 5.1.3 All Terrain Bicycle
    • 5.1.4 E-bicycle
    • 5.1.5 Other Types
  • 5.2 Distribution Channel
    • 5.2.1 Offline Retail Stores
    • 5.2.2 Online Retail Stores
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Mexico
    • 5.3.1.4 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 United Kingdom
    • 5.3.2.2 Germany
    • 5.3.2.3 Spain
    • 5.3.2.4 France
    • 5.3.2.5 Italy
    • 5.3.2.6 Russia
    • 5.3.2.7 Netherlands
    • 5.3.2.8 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 Australia
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Chile
    • 5.3.4.4 Rest of South America
    • 5.3.5 Middle East and Africa
    • 5.3.5.1 United Arab Emirates
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Most Adopted Strategies
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles
    • 6.3.1 Accell Group NV
    • 6.3.2 Trek Bicycle Corporation
    • 6.3.3 Pon Holdings BV
    • 6.3.4 Giant Manufacturing Co. Ltd
    • 6.3.5 Bulls Bikes
    • 6.3.6 Pedego Inc.
    • 6.3.7 Benno Bikes LLC
    • 6.3.8 Hero Cycles Limited
    • 6.3.9 Ribble Cycles
    • 6.3.10 Riese Und Muller Gmbh
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Bicycle Industry Segmentation

A bicycle is a vehicle with two wheels in tandem, usually propelled by pedals connected to the rear wheel by a chain, having handlebars for steering and a saddle-like seat. The bicycle market has been segmented by type, distribution channel, and geography. By type, the market is segmented into road bicycles, hybrid bicycles, all-terrain bicycles, e-bicycles, and other types. By distribution channel, the market is segmented into offline retail stores and online retail stores. The report also provides a regional analysis of North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The report offers the market size in value terms in USD for all the abovementioned segments.

Type Road Bicycle
Hybrid Bicycle
All Terrain Bicycle
E-bicycle
Other Types
Distribution Channel Offline Retail Stores
Online Retail Stores
Geography North America United States
Canada
Mexico
Rest of North America
Europe United Kingdom
Germany
Spain
France
Italy
Russia
Netherlands
Rest of Europe
Asia-Pacific China
Japan
India
Australia
Rest of Asia-Pacific
South America Brazil
Argentina
Chile
Rest of South America
Middle East and Africa United Arab Emirates
South Africa
Rest of Middle East and Africa
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Bicycle Market Research FAQs

How big is the Bicycle Market?

The Bicycle Market size is expected to reach USD 58.52 billion in 2025 and grow at a CAGR of 4.20% to reach USD 71.88 billion by 2030.

What is the current Bicycle Market size?

In 2025, the Bicycle Market size is expected to reach USD 58.52 billion.

Who are the key players in Bicycle Market?

Trek Bicycle Corporation, Pon Holdings BV​, Giant Manufacturing Co. Ltd., Accell Group N.V. and Merida Industry Co. Ltd are the major companies operating in the Bicycle Market.

Which is the fastest growing region in Bicycle Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Bicycle Market?

In 2025, the Asia-Pacific accounts for the largest market share in Bicycle Market.

What years does this Bicycle Market cover, and what was the market size in 2024?

In 2024, the Bicycle Market size was estimated at USD 56.06 billion. The report covers the Bicycle Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Bicycle Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Bicycle Market Research

Mordor Intelligence offers a comprehensive bicycle industry analysis that covers the rapidly evolving bicycle market. Our extensive research includes multiple segments such as electric bicycles, mountain bikes, road bikes, and folding bicycles. We also provide detailed insights into the bicycle components and bicycle accessories markets. The report examines the dynamics of the bicycle retail industry, bicycle distribution channels, and emerging trends in personal mobility solutions. Particular focus is given to the urban bicycle and commuter bike segments.

Stakeholders across the bicycle industry benefit from our detailed analysis of bicycle transportation patterns, professional cycling developments, and recreational bicycle trends. The report, available as an easy-to-download PDF, includes extensive bicycle sales data, bicycle industry statistics, and bicycle market growth projections. Our research covers bicycle equipment manufacturers, bicycle retail operations, and bicycle sharing systems. This provides valuable insights for decision-makers in the bicycle components market and bicycle accessories market. The analysis includes detailed bicycle market segmentation and bicycle industry trends, supporting strategic planning and investment decisions across the value chain.