India Bicycle Market, By Region, Competition, Forecast & Opportunities, 2020-2030F

The India Bicycle Market was valued at USD 2.9 Billion in 2024, and is expected to reach USD 4.1 Billion by 2030, rising at a CAGR of 5.90%. The market is undergoing a transformation driven by increasing health consciousness, a preference for sustainable transport, and government efforts to promote non-motorized mobility. Bicycles are increasingly being used for both recreational and commuting purposes, supported by broader consumer access to a variety of models ranging from basic to performance-driven bicycles such as mountain and hybrid bikes.

Urban congestion, fitness awareness, and improved disposable incomes are fueling demand across demographics. According to the All India Cycle Manufacturers' Association (AICMA), India recorded total bicycle sales of 10.67 million units in FY 2023-24. Technological innovations, including smart e-bicycles and customization options, are attracting a growing base of fitness enthusiasts, urban commuters, and adventure cyclists. Meanwhile, infrastructure developments such as dedicated cycling tracks and bike-sharing initiatives are enhancing market accessibility, despite challenges around road safety, affordability of high-end bikes, and competition from low-cost motorized alternatives.

Market Drivers

Rising Fitness and Health Awareness

The increasing emphasis on personal health and wellness is a primary driver of the India bicycle market. As lifestyle diseases such as obesity and hypertension rise, cycling is gaining prominence as a low-impact exercise suitable for all age groups. Public health campaigns, celebrity endorsements, and social media have elevated cycling's profile, encouraging its adoption among youth, working professionals, and families. Fitness clubs, schools, and community groups are organizing cycling marathons and group rides, making cycling a social and routine part of healthy living. Urban residents are incorporating cycling into daily commutes or fitness regimens, creating sustained demand for bicycles designed for endurance, performance, and comfort.

Key Market Challenges

Lack of Cycling Infrastructure

The absence of dedicated cycling infrastructure remains a major obstacle to market growth in India. Most cities lack safe, connected cycling lanes, forcing cyclists to navigate traffic-heavy roads shared with motorized vehicles. This discourages adoption, particularly among women, children, and elderly users. Even where cycling tracks exist, issues such as poor upkeep, encroachment, and limited coverage reduce their effectiveness. Road safety concerns and lack of bicycle parking or lighting further dissuade potential users. The challenge is amplified in rural areas where road quality is inconsistent, and in urban centers where retrofitting infrastructure is logistically complex. Until robust and safe cycling infrastructure is integrated into urban and regional planning, widespread bicycle adoption will remain constrained.

Market Trends

Growth of E-Bicycles

The emergence of electric bicycles (e-bikes) is reshaping the India bicycle market. E-bikes offer battery-assisted pedaling that eases commuting over long distances or rough terrain, attracting a broader consumer segment including older adults, delivery personnel, and urban commuters. Rising fuel prices, greater environmental awareness, and the need for cost-effective travel solutions are propelling interest in e-bicycles. Technological advancements in motor systems, lightweight materials, and battery life have improved product appeal and functionality. Additionally, shared e-bicycle fleets and smart city initiatives are making electric models more accessible in urban environments. As consumers seek convenience and sustainability, e-bikes are expected to play a major role in the future expansion of the Indian bicycle market.

Key Market Players

• Hero Cycles Limited
• TI Cycles of India Limited (part of Tube Investments of India Limited)
• Avon Cycles Limited
• Atlas Cycles Limited
• Firefox Bikes Private Limited
• Ninety One Cycles Private Limited
• Schnell Cycles Private Limited
• Decathlon Sports India Private Limited
• Giant Starkenn Bicycles Private Limited
• SRF Limited

Report Scope:

In this report, the India Bicycle Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Bicycle Market, By Type:

• Mountain Bikes
• Road Bikes
• Cargo Bikes
• Others

India Bicycle Market, By Technology:

• Electric
• Conventional

India Bicycle Market, By Sales Channel:

• Online
• Offline

India Bicycle Market, By Region:

• North India
• West India
• South India
• East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Bicycle Market.

Available Customizations:

With the given market data, the publisher offers customizations according to the company’s specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.