Market Size of North America Bicycle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.71 Billion |
| Market Size (2029) | USD 8.47 Billion |
| CAGR (2024 - 2029) | 1.92 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Bicycle Market Analysis
The North America Bicycle Market size is estimated at USD 7.71 billion in 2024, and is expected to reach USD 8.47 billion by 2029, growing at a CAGR of 1.92% during the forecast period (2024-2029).
The growing use of bicycles for trekking and recreational activities, coupled with an increasing number of cycling events organized by various organizations like Cycling USA, may boost the demand for sports bicycles over the forecast period. The growing influence of celebrity endorsement, coupled with increasing media coverage for such events, is expected to fuel market growth further. For instance, in the United States, May is recognized as 'Bike Month,' and 'Bike-to-Work Week' is always either the first or second week of May. Austin, Boston, Pasadena, Portland, Roseville, Santa Barbara, Sacramento, San Diego, San Francisco, and Washington are among the United States cities that actively participate in these events.
The growing traffic congestion and shortage of parking space, particularly in metropolitan cities, are prompting people to consider bicycle commutation for short distances to save time. At the same time, various governments are aggressively rolling out the infrastructure necessary to support bicycle commutation, encouraging people to opt for bicycles. For instance, to increase employment possibilities, combat climate change, and develop a more resilient and sustainable economy, the Canadian government announced the first federal fund of USD 400 million in March 2021 for bike lanes and trails across the nation.
