Bicycle Market Size, Share & Trends Report

Bicycle Market Size, Share & Trends Analysis Report By Product (Mountain, Hybrid, Road), By Technology (Electric, Conventional), By End User (Men, Women, Kids), By Region, And Segment Forecasts, 2018 - 2025

  • Published Date: Nov, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-490-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 120

Industry Insights

The global bicycle market size was valued at USD 47.51 billion in 2017. It is expected to expand at a CAGR of 6.1% from 2018 to 2025. The increase in number of people opting for bicycling as a form of leisure is anticipated to propel the growth. Preference for bicycle as a convenient form of exercise to ensure a healthy life, free from obesity and other disorders is expected to further drive the market expansion.

The popularity of dockless bicycle sharing systems has been rising lately. This system allows users to locate a bicycle nearby and unlock it electronically. Incepted originally in Europe, dockless bicycle sharing systems are gaining popularity, particularly in Asian nations, including India and China. Furthermore, recent advances in mobile app development and Global Positioning System (GPS) have resulted in app-based dockless bicycle sharing systems.

Asia Pacific bicycle market

The growing adoption of such dockless bicycle sharing systems is expected to fuel the demand for cycles significantly. Chinese bicycle sharing companies are particularly investing and expanding their operations aggressively in European nations to capitalize on the market opportunities, which is expected to boost market growth further over the forecast period.

People have started realizing the importance of staying fit and having a healthy life. They have also started realizing that regular bicycling can keep disorders, such as obesity, at bay. The market is expected to grow as more and more people are resorting to bicycling as a regular form of exercise. Events, such as Tour de France and Ronde van Vlaanderen, are further adding to the popularity of these vehicles. Meanwhile, rise in bicycling events being organized in various countries from Asia, Africa, and Middle East are fueling the sales of mountain as well as road bicycles.

The growing traffic congestions and shortage of parking space, particularly in metropolitan cities, is 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, thereby encouraging people to opt for bicycles. However, the looming lack of the infrastructure necessary to support and encourage bicycle commutation, particularly in developing economies, such as India, is expected to hinder the growth of the bicycle market. Similarly, lightweight bicycles made using composite materials make them expensive, which does not bode well for the market expansion.

Technology Insights

While bicycle has been a conventional mode of transport, bicycling has also been emerging as a leading sporting and leisure activity over the past few decades. The conventional segment accounted for the largest market share in 2017. However, the electric is expected to emerge as the fastest-growing segment expanding at a CAGR of over 6% over the forecast period.

The growth of the electric segment might be attributable to that fact that electric bicycles are easy to operate. Electric bicycles can also ensure faster journeys as compared to their conventional counterparts. Additionally, the latest batteries can offer higher capacities and a longer life despite a smaller size. Such maintenance-free batteries add to the ease of use of electric bicycles. Hence, consumers are expected to prefer them.

End User Insights

Men have historically outnumbered women in the use of bicycles for commutation. The men segment accounted for the largest market share in 2017 and is expected to expand at a CAGR of over 5% over the forecast period as the number of men riding bicycles continues to be higher than the number of women and kids.

However, bicycle makers are continuously simplifying the cycling mechanism and installing efficient gear systems and shock absorbers. Such developments are particularly enticing women to opt for bicycling for leisure. Women have also been participating aggressively in bicycling events since the past few years. As a result, the women segment is expected to witness a steady growth. It is anticipated to expand at a CAGR of over 4.0% over the forecast period.

Product Insights

The road bicycle segment accounted for the largest market share in 2017 and is expected to emerge as the fastest-growing segment over the forecast period. The growth can be attributed to the fact that these are the most basic vehicles, which do not need any sophisticated accessories, such as those required by racing, mountain, or other special-purpose bicycles. The growing trend among people to customize road bicycles for specific purposes is also expected to contribute to the segment growth in the forthcoming years.

Global bicycle market

Meanwhile, the mountain bicycle segment is also expected to grow significantly over the forecast period, as consumers, particularly millennials, continue to opt for mountain bicycling as a form of leisure and adventure. The establishment of new mountain bicycling circuits coupled with growing media coverage for such events is expected to further fuel segment growth.

Regional Insights

Asia Pacific emerged as the dominant segment in 2017 with a revenue share exceeding 20%. The region is anticipated to expand at the fastest CAGR of over 6.0% over the forecast period. Nations, such as China, Japan, and Singapore, among others, emphasize on rolling out the infrastructure necessary to encourage and support bicycle commutation. Some of the cities in Asia, such as Tokyo, are known for their lowest accident rates and are hence considered as ideal cities for urban bicycling. Moreover, Chinese bicycle sharing companies are aggressively targeting, countries, such as India and Australia, to expand their operations. As a result, the demand for bicycles is expected to rise over the forecast period.

The European region accounted for the second-largest share of the global market in 2017 and is anticipated to expand significantly at a CAGR of over 5.0% over the forecast period. Europe is home to some of the cities that are considered ideal for bicycle commutation. Some of the most popular bicycling events, such as Tour de France and Ronde van Vlaanderen, are also organized in Europe. European nations, including Belgium, Denmark, France, and Italy, are aggressively rolling out the infrastructure to support and encourage bicycle commutation and are contributing significantly towards the growth of the regional market.

Bicycle Market Share Insights

Accell Group, Dorel Industries, Giant Bicycles, Merida, and Trek Bicycles are some of the leading incumbents of the market. These companies are striking partnerships, investing aggressively, engaging in mergers and acquisitions; launching new products; introducing new services, such as home delivery of high-end bicycles, after-sales support, and maintenance; and pricing their products and services competitively as part of the efforts to retain their competitiveness.

Report Scope



Base year for estimation


Actual Estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, France, China, India, Japan, Brazil, Mexico

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends for each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global bicycle market report on the basis of product, technology, end user, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Mountain

    • Hybrid

    • Road

    • Others

  • Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • Electric

    • Conventional

  • End User Outlook (Revenue, USD Million, 2014 - 2025)

    • Men

    • Women

    • Kids

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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