The global bicycle market was valued at USD 76.70 Billion in 2024. The industry is expected to grow at a CAGR of 6.60% during the forecast period of 2025-2034 to reach a value of USD 145.33 Billion by 2034.
The bicycle market is no longer just about fitness or eco-commuting; it is fast becoming a key indicator of urban mobility transformation. The market growth is bolstered by the rising integration of smart mobility solutions and renewed focus on sustainable transport policies. Across the United Kingdom, the Department for Transport's Gear Change policy has committed EUR 2 billion to cycling and walking infrastructure, making bicycles a major lever in lowering urban carbon footprints and congestion.
More interestingly, urban planners and logistics firms are turning their attention to cargo bikes, accelerating the bicycle market growth. London recently unveiled a commercial cargo bike hub, reducing delivery van reliance in central zones. Meanwhile, France introduced a EUR 2,500 subsidy per electric cargo bike for commercial users under its “bonus écologique” programme, prompting retailers and SMEs to adopt more sustainable last-mile delivery methods.
Such shifts have encouraged manufacturers to introduce innovative products, further boosting the bicycle market development. Bosch eBike Systems’ integration of anti-lock braking and smartphone connectivity indicates the advent of smart bicycle design. Beyond traditional manufacturers, automotive players like Porsche and Mahle are actively expanding into e-bike systems, indicating a deeper convergence between automotive and cycling industries. For B2B stakeholders, from fleet operators to commercial delivery firms, these developments offer next-gen mobility solutions.
Cargo bikes are registering exponential growth, especially among delivery services and SME logistics players, accelerating the demand in the bicycle market. Cities such as Berlin and Amsterdam are pushing zero-emission logistics, offering subsidies and preferential lane access for cargo bikes. The United Kingdom government launched a funding pool of EUR 2 million specifically for B2B cargo bike purchases. Commercial operators are targeting electric cargo bikes for their ability to bypass congestion and reduce operational costs. Players like Urban Arrow and Riese & Müller are designing B2B-tailored models with load-bearing chassis and longer battery life.
Mid-range bikes are experiencing the fastest growth in the bicycle market, offering a balance between affordability and quality. For large-scale procurement, be it urban mobility services, last-mile logistics firms, or campus mobility projects, this segment strikes the right balance. Models in this segment now include e-assist, better drivetrains, and anti-theft technology. The versatility of mid-range models allows for usage across commuting, light logistics, and rentals. Manufacturers such as Decathlon and Giant are increasingly targeting this B2B-friendly price segment, offering bulk packages with maintenance contracts and GPS-enabled fleet tracking, ideal for corporate sustainability initiatives.
Conventional bikes are regaining traction especially in regions focusing on cost-effective, sustainable mobility projects, further propelling the bicycle market development. NGOs, educational campuses, and local government initiatives in Southeast Asia and Africa are turning to basic bicycles for short-distance mobility. Programmes like India’s ‘Cycle4Change Challenge’ have prompted municipalities to bulk-order conventional bikes for shared mobility. These bikes, low-maintenance and reliable, fit within tight procurement budgets while supporting environmental goals. Businesses like real estate firms and rural logistics startups are embedding conventional bikes in their operational networks.
The online distribution channel is experiencing rapid growth as per the bicycle market report, propelled by the increasing digitalization of retail and changing consumer behaviours. E-commerce platforms offer a wide range of products, competitive pricing, and the convenience of home delivery, attracting a broad customer base. Manufacturers are enhancing their online presence through direct-to-consumer websites and partnerships with online retailers, expanding their market reach. Additionally, the integration of virtual reality and augmented reality technologies enables customers to experience products virtually, bridging the gap between online and offline shopping experiences.
Women represent the fastest growing segment in the bicycle market, reflecting increasing female participation in cycling for health, leisure, and commuting. Manufacturers are responding by designing bicycles that cater to women's ergonomic needs, offering comfort and style. Marketing campaigns emphasizing empowerment and community engagement are resonating with female consumers, further boosting market growth. Additionally, the rise of women-centric cycling clubs and events is fostering a supportive environment, encouraging more women to take up cycling.
Dedicated bike lanes and government incentives promote the use of bicycles, and bicycle commuting is a well-established practice in Europe. A sizable section of the populace in Denmark and the Netherlands commutes by bicycle. Significant infrastructure expenditures, such as long bike lanes and parking lots, have resulted from this vibrant cycling culture, which has encouraged more individuals to continue bicycle commutation in their everyday life. The growing popularity of e-bikes, which provide a practical and energy-efficient option for urban transport, is a major driver of the European bicycle market expansion. In the Netherlands, e-bikes accounted for 56% of the 804,101 new bicycles bought in 2023, with 453,219 sold.
Bicycle companies are also partnering with technology firms to embed IoT for real-time diagnostics. There is a growing demand for hybrid bikes that switch between manual and electric modes on the go. Smart diagnostics, solar charging, 3D-printed custom frames, blockchain-secured bike-sharing, and AI-powered predictive maintenance are some of the key trends noticed in the market. Sustainability is another focus area, with players exploring biodegradable parts and closed-loop recycling systems. In this fast-changing space, innovation is key to standing out and tapping into emerging global cycling cultures, especially in Asia and Europe.
Atlas Cycles (Haryana) Ltd.
Atlas Cycles has been a key player in the bicycle industry since 1950, producing high-quality bicycles catering to diverse consumer needs. The brand is well-known in India and offers reasonably priced, long-lasting bicycle types. With an emphasis on affordability, dependability, and innovation, Atlas Cycles has been instrumental in bringing bicycles within the reach of the general public. Its reputation in the market has been established by its dedication to quality and client satisfaction.
Avon Cycles Ltd.
Founded in 1951, Avon Cycles is known for its extensive product portfolio, including commuter bicycles and performance-oriented models. Through strategic alliances and innovation, the company, which has its headquarters in Ludhiana, is growing its market share. The business is well-known for providing a broad range of customers with reasonably priced, robust, and inventive bicycles. Avon Cycles is extending its market reach through strategic alliances, technology developments, and an expanding global footprint.
Other key players in the market are Dorel Industries Inc., Giant Bicycles, Cycling Sports Group, LLC, Hero Cycles, Santa Cruz Bicycles, LLC, Marin Mountain Bikes Inc., Merida Industry Co., Ltd, Specialized Bicycle Components, Inc., SCOTT Sports SA, Trek Bicycle Corporation, Orbea, BH Bikes, Axalko Bikes, Hagen Bikes, Mammoth bikes, Egurra Bikes, and Garri Bike, among others.
The bicycle market is no longer just about fitness or eco-commuting; it is fast becoming a key indicator of urban mobility transformation. The market growth is bolstered by the rising integration of smart mobility solutions and renewed focus on sustainable transport policies. Across the United Kingdom, the Department for Transport's Gear Change policy has committed EUR 2 billion to cycling and walking infrastructure, making bicycles a major lever in lowering urban carbon footprints and congestion.
More interestingly, urban planners and logistics firms are turning their attention to cargo bikes, accelerating the bicycle market growth. London recently unveiled a commercial cargo bike hub, reducing delivery van reliance in central zones. Meanwhile, France introduced a EUR 2,500 subsidy per electric cargo bike for commercial users under its “bonus écologique” programme, prompting retailers and SMEs to adopt more sustainable last-mile delivery methods.
Such shifts have encouraged manufacturers to introduce innovative products, further boosting the bicycle market development. Bosch eBike Systems’ integration of anti-lock braking and smartphone connectivity indicates the advent of smart bicycle design. Beyond traditional manufacturers, automotive players like Porsche and Mahle are actively expanding into e-bike systems, indicating a deeper convergence between automotive and cycling industries. For B2B stakeholders, from fleet operators to commercial delivery firms, these developments offer next-gen mobility solutions.
Key Trends and Recent Developments
February 2025
The Roadster X electric bike was introduced by Ola Electric to the Indian market. On social media, the firm has hinted to the bike's production-ready version. It should be mentioned that the EV and the other bikes in the same series made their world premiere in 2024, but the brand was unable to start deliveries at that time.September 2024
Bicycle Transit Systems, Inc., a leading bike sharing operator, announced that it has signed a final deal to buy BCycle from Trek. Through the acquisition, Bicycle Transit Systems will be able to provide integrated solutions for the construction, installation, and management of docked, electrified bike sharing, thereby better supporting the growth of mobility options across the country.September 2024
The Voltic X and Voltic GO are two new e-bike models that Stryder Cycle, a Tata Group brand, introduced. The 48V splash-proof battery that powers the Voltic X and Voltic GO models can be charged rapidly in three hours and has a range of up to 40 kilometers between charges. While the Voltic X offers a more robust, mountain bike-style design ideal for light off-road use and urban commuting.October 2023
Merida Industry Co., Ltd. introduced the brand-new Silex gravel bike with the goal of enhancing handling, comfort, and speed on all terrain types. Redesigned geometry, more tire clearance, and an emphasis on multi-surface adventure riding and hiking are the major hallmarks of this second-generation Silex dirt bike.Rise of Urban Micromobility Infrastructure
Governments globally are reshaping cityscapes to accommodate micromobility, boosting the bicycle market opportunities. In the United Kingdom, the Active Travel England initiative has received EUR 200 million, driving construction of segregated bike lanes and cycle-friendly junctions. Similarly, Germany allocated EUR 1.5 billion to improve cycling infrastructure. Such commitments have pushed cities like Paris and Barcelona to ban private cars in central districts during peak hours. For urban developers, this transition has resulted in an increased demand for city-compatible hybrid and electric bikes, boosting bulk purchases by rental firms and logistics providers.Commercial Adoption of Cargo Bikes
Companies like DHL and Amazon are increasingly deploying e-cargo bikes for urban deliveries, particularly in low-emission zones across the European Union, accelerating the bicycle market trends and dynamics. The market noted a 60% rise in commercial cargo bike sales in 2019. Amsterdam is also boosting this trend with its Green Deal Bicycle initiative, offering tax breaks to SMEs switching to cargo bikes. This trend is especially gaining ground among food delivery platforms, florists, and grocery chains.Technological Integration in High-End Bikes
The competitive landscape of the bicycle market is now shaped by connectivity and smart technology. Companies like VanMoof and Cowboy are embedding GPS tracking, auto-locking systems, and integrated dashboards. Bosch and Shimano are introducing AI-driven motor assistance that adjusts to terrain in real-time. These technologies are fast becoming essential value propositions in the industry. OEMs catering to tech-savvy consumers and B2B rental fleets are making use of these benefits, with the premium segment gaining remarkable traction, especially in markets like South Korea and Austria.Government-Backed Purchase Incentives
Fiscal support has become a serious trend in the bicycle market. For example, Canada’s Zero-Emission Vehicle Infrastructure Programme supports e-bike charging stations for businesses, enabling fleet transitions. France, Belgium, and Sweden are running similar B2B schemes. These financial levers are prompting courier firms, tour operators, and campus mobility providers to expand bike fleets at subsidised costs. Additionally, tax write-offs, low-interest leasing options, and municipal grants are accelerating adoption, especially among last-mile delivery networks and public-private mobility partnerships seeking sustainable and cost-effective alternatives.Expanding Role of Bicycles in Tourism & Leisure
Tourism boards in Austria, New Zealand, and Scotland are investing in cycling trails and bicycle tourism hubs, aimed at eco-conscious travellers, boosting the overall bicycle demand. Scotland’s “Cycling Framework and Delivery Plan” targets a significant increase in leisure bike trips by 2030. This is triggering collaboration between local councils and rental startups, where B2B partnerships for fleet management and servicing are flourishing. These moves create demand for durable, easy-to-maintain fleet bicycles, especially hybrid and electric models, carving out space for niche manufacturers and fleet service providers in the tourism vertical.Global Bicycle Industry Segmentation
The report titled “Global Bicycle Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Product
- Mountain Bikes
- Hybrid Bikes
- Road Bikes
- Cargo Bikes
- Others
Market Breakup by Price
- Premium
- Mid-Range
- Low Range
Market Breakup by Technology
- Electric
- Conventional
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by End User
- Men
- Women
- Kids
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Bicycle Market Share
By Product, Mountain Bikes Account for the Dominant Share of the Market
The dominance of mountain bikes in the bicycle market is sustained by their versatility and demand from adventure tourism and sports enthusiasts. With trails being expanded across North America and the Alpine regions in Europe, public and private investments in trail infrastructure have surged. The Scottish government has committed EUR 8 million to mountain biking tourism through its Developing Mountain Biking in Scotland (DMBinS) programme. B2B demand stems from rental chains, sports event organisers, and resort partners seeking durable and high-performance units. Moreover, top-end models now integrate carbon frames and suspension technology, fuelling further interest.Cargo bikes are registering exponential growth, especially among delivery services and SME logistics players, accelerating the demand in the bicycle market. Cities such as Berlin and Amsterdam are pushing zero-emission logistics, offering subsidies and preferential lane access for cargo bikes. The United Kingdom government launched a funding pool of EUR 2 million specifically for B2B cargo bike purchases. Commercial operators are targeting electric cargo bikes for their ability to bypass congestion and reduce operational costs. Players like Urban Arrow and Riese & Müller are designing B2B-tailored models with load-bearing chassis and longer battery life.
By Price, the Premium Segment Registers the Dominant Share of the Market Revenue
Premium bicycles dominate the bicycle market revenue share due to technological enhancements and brand positioning. These bikes offer high margin returns and appeal to businesses seeking performance, durability, and advanced features. Brands like Trek, Cannondale, and Specialized are focusing on the premium e-bike segment with connected ecosystems and carbon frames. Rental operators, high-end tour services, and luxury hotel chains are increasingly procuring premium fleets to enhance customer experience. As per industry report, 14% of United Kingdom cyclists tend to buy premium e-bikes.Mid-range bikes are experiencing the fastest growth in the bicycle market, offering a balance between affordability and quality. For large-scale procurement, be it urban mobility services, last-mile logistics firms, or campus mobility projects, this segment strikes the right balance. Models in this segment now include e-assist, better drivetrains, and anti-theft technology. The versatility of mid-range models allows for usage across commuting, light logistics, and rentals. Manufacturers such as Decathlon and Giant are increasingly targeting this B2B-friendly price segment, offering bulk packages with maintenance contracts and GPS-enabled fleet tracking, ideal for corporate sustainability initiatives.
By Technology, Electric Bikes Secure the Larger Share of the Market
Electric bikes (e-bikes) significantly dominate the bicycle market. Their appeal lies in enabling longer, faster, and less strenuous commutes or deliveries, vital for courier services, rental operators, and tourism enterprises. Brands like Tern and Yuba are creating e-cargo solutions specifically designed for business logistics, further making electric bikes as indispensable to modern B2B mobility. Additionally, innovative features like GPS fleet tracking, swappable battery packs, and app-based control systems are making e-bikes more efficient for large-scale deployment. Companies are also exploring solar panel integration to extend range and reduce downtime, offering a sustainable edge.Conventional bikes are regaining traction especially in regions focusing on cost-effective, sustainable mobility projects, further propelling the bicycle market development. NGOs, educational campuses, and local government initiatives in Southeast Asia and Africa are turning to basic bicycles for short-distance mobility. Programmes like India’s ‘Cycle4Change Challenge’ have prompted municipalities to bulk-order conventional bikes for shared mobility. These bikes, low-maintenance and reliable, fit within tight procurement budgets while supporting environmental goals. Businesses like real estate firms and rural logistics startups are embedding conventional bikes in their operational networks.
By Distribution Channel, the Offline Segment Occupies a Substantial Share of the Market
Offline retail remains the primary distribution channel in the bicycle market, accounting for a significant share due to their offered tangible experiences. Specialized bicycle stores provide personalized services, including test rides, fittings, and maintenance, enhancing customer satisfaction. Companies like Pedego have established extensive networks of locally-owned stores globally, offering sales, rentals, and after-sales services. This physical presence builds trust and fosters long-term customer relationships, crucial for high-involvement purchases like bicycles. Moreover, offline channels facilitate immediate product availability and personalized consultations, factors that continue to drive their dominance in the market.The online distribution channel is experiencing rapid growth as per the bicycle market report, propelled by the increasing digitalization of retail and changing consumer behaviours. E-commerce platforms offer a wide range of products, competitive pricing, and the convenience of home delivery, attracting a broad customer base. Manufacturers are enhancing their online presence through direct-to-consumer websites and partnerships with online retailers, expanding their market reach. Additionally, the integration of virtual reality and augmented reality technologies enables customers to experience products virtually, bridging the gap between online and offline shopping experiences.
By End User, Men Occupy the Significant Share of the Market
Men constitute the largest segment in the bicycle market, driven by higher participation rates in cycling for commuting, fitness, and sports. This demographic shows a strong preference for performance-oriented bikes, including mountain and road bicycles, fuelling demand in these categories. Manufacturers focus on developing advanced features and designs tailored to male riders, enhancing their market appeal. Additionally, marketing strategies often target male consumers through sponsorships of cycling events and collaborations with professional athletes, reinforcing brand loyalty and driving sales in this dominant segment.Women represent the fastest growing segment in the bicycle market, reflecting increasing female participation in cycling for health, leisure, and commuting. Manufacturers are responding by designing bicycles that cater to women's ergonomic needs, offering comfort and style. Marketing campaigns emphasizing empowerment and community engagement are resonating with female consumers, further boosting market growth. Additionally, the rise of women-centric cycling clubs and events is fostering a supportive environment, encouraging more women to take up cycling.
Global Bicycle Market Regional Analysis
By Region, Asia Pacific Holds the Leading Position in the Market
Asia Pacific is witnessing an increase in bicycle commutation due to government programs encouraging environmentally friendly transportation and urbanization. To encourage cycling as a sustainable form of transportation, governments around the region are making infrastructural investments. The goal of initiatives like India's Streets4People Challenge and Cycles4Change Challenge is to make cities more bike-friendly so that more people choose to commute by bicycle on a daily basis. Bicycle commuting is growing in popularity as people look for affordable and environmentally responsible ways to get around crowded cities. Moreover, there is a growing awareness of the health benefits associated with cycling, such as improved cardiovascular fitness and weight management. Additionally, concerns over environmental issues and the need for sustainable transportation solutions are motivating consumers to choose bicycles over motorized vehicles, further increasing the demand for bicycles.Dedicated bike lanes and government incentives promote the use of bicycles, and bicycle commuting is a well-established practice in Europe. A sizable section of the populace in Denmark and the Netherlands commutes by bicycle. Significant infrastructure expenditures, such as long bike lanes and parking lots, have resulted from this vibrant cycling culture, which has encouraged more individuals to continue bicycle commutation in their everyday life. The growing popularity of e-bikes, which provide a practical and energy-efficient option for urban transport, is a major driver of the European bicycle market expansion. In the Netherlands, e-bikes accounted for 56% of the 804,101 new bicycles bought in 2023, with 453,219 sold.
Competitive Landscape
The bicycle market players are investing in AI-powered bike maintenance apps, solar-assisted e-bikes, and regenerative braking systems. Urban micromobility is a ley area of focus, with bike-sharing systems integrating facial recognition and blockchain for secure access. Startups are tapping into 3D printing for custom-fit frames, offering ultra-personalized cycling experiences. Opportunities lie in targeting health-conscious consumers and green city infrastructure projects.Bicycle companies are also partnering with technology firms to embed IoT for real-time diagnostics. There is a growing demand for hybrid bikes that switch between manual and electric modes on the go. Smart diagnostics, solar charging, 3D-printed custom frames, blockchain-secured bike-sharing, and AI-powered predictive maintenance are some of the key trends noticed in the market. Sustainability is another focus area, with players exploring biodegradable parts and closed-loop recycling systems. In this fast-changing space, innovation is key to standing out and tapping into emerging global cycling cultures, especially in Asia and Europe.
Accell Group
Accell Group, headquartered in Friesland and founded in 1998, is a leading bicycle manufacturer with a strong global presence. The company focuses on innovation and sustainable bicycle designs, offering a wide range of models, including electric bicycles and high-performance commuter bikes. Accell Group owns renowned brands such as Batavus, Haibike, Koga, and Raleigh, focusing on quality, durability, and performance. With a commitment to green mobility, the company continues to drive advancements in bicycle technology and design.Atlas Cycles (Haryana) Ltd.
Atlas Cycles has been a key player in the bicycle industry since 1950, producing high-quality bicycles catering to diverse consumer needs. The brand is well-known in India and offers reasonably priced, long-lasting bicycle types. With an emphasis on affordability, dependability, and innovation, Atlas Cycles has been instrumental in bringing bicycles within the reach of the general public. Its reputation in the market has been established by its dedication to quality and client satisfaction.
Avon Cycles Ltd.
Founded in 1951, Avon Cycles is known for its extensive product portfolio, including commuter bicycles and performance-oriented models. Through strategic alliances and innovation, the company, which has its headquarters in Ludhiana, is growing its market share. The business is well-known for providing a broad range of customers with reasonably priced, robust, and inventive bicycles. Avon Cycles is extending its market reach through strategic alliances, technology developments, and an expanding global footprint.
Cervelo
Headquartered in United States, and founded in 1995, Cervelo specialises in high-performance bicycles, particularly for competitive cycling and triathlons. The company has become a premium brand in the market due to its dedication to precision engineering and aerodynamics. Cervelo consistently makes investments in R&D to improve durability, speed, and efficiency. The brand has established a solid reputation for performance, innovation, and excellent ride quality through its participation in international bicycle competitions.Other key players in the market are Dorel Industries Inc., Giant Bicycles, Cycling Sports Group, LLC, Hero Cycles, Santa Cruz Bicycles, LLC, Marin Mountain Bikes Inc., Merida Industry Co., Ltd, Specialized Bicycle Components, Inc., SCOTT Sports SA, Trek Bicycle Corporation, Orbea, BH Bikes, Axalko Bikes, Hagen Bikes, Mammoth bikes, Egurra Bikes, and Garri Bike, among others.
Key Features of the Report
- In-depth analysis of Global Bicycle Market Size and forecast
- Comprehensive segmentation by product, price, technology, distribution channel, end user, and region
- Market trends, drivers, and regulatory developments
- Competitive landscape and strategic company profiling
- Recent investments and infrastructure expansion impact
- Technological innovations and future market outlook
- Trusted insights backed by extensive primary research
- Actionable data for strategic decision-making
- Region-wise and product-specific analysis
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Bicycle Market Analysis
6 North America Bicycle Market Analysis
7 Europe Bicycle Market Analysis
8 Asia-Pacific Bicycle Market Analysis
9 Latin America Bicycle Market Analysis
10 Middle East and Africa Bicycle Market Analysis
11 Market Dynamics
13 Competitive Landscape
Companies Mentioned
The key companies featured in this Bicycle market report include:- Accell Group
- Atlas Cycles (Haryana) Ltd.
- Avon Cycles Ltd.
- Cervelo
- Dorel Industries Inc.
- Giant Bicycles
- Cycling Sports Group, LLC
- Hero Cycles
- Santa Cruz Bicycles, LLC
- Marin Mountain Bikes Inc.
- Merida Industry Co., Ltd
- Specialized Bicycle Components, Inc.
- SCOTT Sports SA
- Trek Bicycle Corporation
- Orbea
- BH Bikes
- Axalko Bikes
- Hagen Bikes
- Mammoth bikes
- Egurra Bikes
- Garri Bike
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 174 |
| Published | August 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 76.7 Billion |
| Forecasted Market Value ( USD | $ 145.33 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 22 |
