Bicycles Global Market to Reach $101 Billion by 2030: Demand for Electric Bicycles Gains Momentum


Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Bicycles: Global Strategic Business Report" report has been added to's offering.

The global market for Bicycles estimated at US$60.8 Billion in the year 2022, is projected to reach a revised size of US$101 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.

Hybrid Bicycles, one of the segments analyzed in the report, is projected to record a 8% CAGR and reach US$44.2 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Road Bicycles segment is readjusted to a revised 4.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $9.9 Billion, While China is Forecast to Grow at 8.2% CAGR

The Bicycles market in the U.S. is estimated at US$9.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$22.6 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21.8 Billion by the year 2030.

Select Competitors (Total 870 Featured) -

  • Accell Group N. V.
  • Currie Technologies
  • Raleigh Ltd.
  • Winora Staiger GmbH
  • Amer Sports Corporation
  • Atlas Cycles (Haryana) Ltd.
  • Avon Cycles Ltd.
  • Campagnolo S.r.l
  • Cycleurope AB
  • Dorel Industries Inc.
  • Cannondale Bicycle Corporation
  • Pacific Cycle Group
  • Schwinn Bicycles
  • Fox Factory, Inc.
  • Giant
  • Hamilton Industries Pvt. Ltd.
  • Hero Cycles Ltd.
  • Huffy Corporation
  • Merida Industry Co., Ltd.
  • Montague Corp.
  • M S Bhogal and Sons
  • Santa Cruz Bicycles
  • Shimano, Inc.
  • Specialized Bicycle Components, Inc.
  • Tandem Group plc
  • TI Cycles of India
  • Trek Bicycle Corp.

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages607
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$60.8 Billion
Forecasted Market Value (USD) by 2030$101 Billion
Compound Annual Growth Rate6.5%
Regions CoveredGlobal

Key Topics Covered:




  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Pandemic Makes Bicycles Sell Like Hot Cakes: Factors Driving Boom
  • Weak Economic Environment Discourages Overall Market Sentiments
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Disruption in Public Transport Usage & Fitness Regime Patterns Drive Bicycle Mad Rush: Hammered Economy Fails to Discourage Market Prospects
  • COVID-19 Impact on Key Regional Markets
  • US Bicycle Market Pedals Fast to Reach High Terrains
  • Europe Records Notable Jump in Bicycle Sales after Easing of COVID-19 Restrictions
  • COVID-19 Pandemic Augurs Well for Indian Bicycle Industry despite Challenges
  • An Introduction to Bicycle and its Components
  • Bicycles-Bill of Material
  • Bamboo Bicycles: Take a Ride on Your Imagination
  • Bike Sharing Programs: Inculcating Interest in Cycling
  • Bicycles: Biggest Innovations Ever
  • Bicycles Market: A Prelude
  • Global Bicycles Demand Growing at Healthy Pace
  • Market Overview
  • Leading Countries Bicycle Penetration Rate as a Percentage of Total Population (2019E)
  • Bicycle Parts and Accessories: A Review
  • Pricing of Bicycles
  • Global High-End Bicycles Market (2019E): Percentage Breakdown of Revenue by Region
  • Global Bicycle Market Rallies Ahead amid COVID-19 Crisis
  • Spike in Bicycle Sale amid COVID-19 Leaves Supply Chain High & Dry Temporarily
  • Hybrid Bicycles Gaining Ground
  • Road Bicycles: Riding High on Technology Evolution
  • Mountain Bike Segment Registers Rising Demand
  • Growth Restraints
  • Cycling in Developed and Developing Countries
  • Production & Export Scenario
  • Value Exports of Bicycles by Select Country (2019E)
  • Competitive Landscape
  • Key Players in Bicycles Supply Chain
  • Bicycles Product Mix of Merida (2019)
  • Bicycles Product Mix of Giant (2019)
  • Bicycle Division Revenue Breakdown of Accell by Geographic Region (2019)
  • Bicycle Revenue Breakdown of Accell by Segment (2019)
  • Bicycle Product Mix of Accell (2019)
  • Parts Division Revenue Breakdown of Accell by Geographic Region (2019)
  • Parts Product Mix of Accell (2019)
  • Bicycles Market for New Players: Opportunities and Challenges
  • Bicycle Components Market
  • Leading Players in the Global Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano and Others
  • Leading Players in the Global Road Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, KMC, FSA and Others
  • Leading Players in the Global Mountain Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, SRAM, KMC, and Others
  • Breakdown of Shimano's Bicycle Components Sales (in %) by Geographic Region (2019)
  • Recent Market Activity
  • Select Global Brands
  • Bicycles - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)



  • Growing Focus on Traffic Congestion and Environment Issues Spur Demand
  • Bicycling: A Potential Solution to Global Warming
  • CO2 Emissions (in Billion Tons of CO2) by Select Region/Country (2019)
  • Reduction in CO2 Emissions and Energy Usage
  • Rising Usage of Bikes in Urban Areas
  • Demand for Electric Bicycles Gains Momentum
  • World e-Bike Market (2020): Percentage Breakdown of Volume Sales by e-Bike Type for City, Touring, Mountain, Folding, and Others
  • World e-Bike Market (2019): Penetration Rate (in %) for Select Countries/Region
  • Definition of E-Bicycles in Select Regions
  • Oil Production Nearing Saturation: Stimulus for Electric-Bicycles
  • 27.5 Inches: An Emerging Standard in Mountain Bikes Segment
  • Wheels Become Stronger
  • Endurance Bikes: Futuristic Trend with High Potential
  • Carbon Technology: Permeating at Faster Rate
  • Disc Brakes to Emerge as New Standard for Road Bikes
  • Tubeless Tires Gain Steady Adoption Among Road Bikes
  • Fat Tires and Rims in Vogue
  • Folding Bicycles Witness Healthy Growth
  • Initiatives Encourage Bicycle Riding
  • Novel Sophisticated Features Improve Growth Prospects
  • Rising Car Ownership Rates in Developing Countries Adversely Impact Market
  • Global Passenger Cars Market (2019): Breakdown of Number of Cars per 1000 People in Select Countries
  • Metal Prices Pressure Manufacturers
  • Transforming from Traditional Manufacturing to High-tech Industry
  • Aggressive Promotions Spur Market Penetration
  • Technological Advancements & Improvements
  • Cyclist Safety First
  • Navigation Convenience
  • Bike Security
  • Select Key Innovations-2019
  • Innovations in Bicycles Segment in the Recent Past
  • Innovative E-Bikes
  • Gearing
  • Electronic Shifting
  • "Self-filling" Bottle
  • Bicycle Seat for Elderly
  • BSMART Technology
  • Collision-warning Sensor
  • Power Generating Bicycles
  • Copenhagen Wheel
  • Bike Trainer
  • Innovative Products and Solutions
  • Innovations in Bicycling Ecosystem
  • Innovative Options for Bicycle Parking to Promote Biking
  • Innovations that Address Disaster Management Plans
  • Distribution Channels
  • Spike in Online Sales




For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


Global Market for Bicycles