GVR Report cover Bicycle Trip Market Size, Share & Trends Report

Bicycle Trip Market Size, Share & Trends Analysis Report By Type, By Tour Type (Single Day, Multi Day), By Age Group, By Region (North America, Europe, APAC, Rest Of World), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-936-8
  • Number of Pages: 111
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Report Overview

The global bicycle trip market size was valued at USD 1,022.6 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 13.2% from 2022 to 2030. The tourism and adventure sector has risen significantly in recent years and is anticipated to grow further. Cycling tourism is a subset of adventure tourism that entails exploring places, traveling to remote locations, and experiencing the pleasure of bicycle riding throughout the trip. Bicycles are the only other mode of transportation except for walking in some tourist places. The cycle rides in such tourist spots start from a base and such trips are mostly conducted in groups. Advertising through social media, influencer marketing, and video vlogging are some of the tools utilized for promoting bicycle trips and creating a trend for riding cycles.

 North America bicycle trip market size, by type, 2020 - 2030 (USD Million)

Different types of bicycle tourism include:

  • Cycling travels/touring: multi-day bicycle trips, overnight bike trips, adventure long-distance paths, such as the katy trail

  • Races or organized events which include cyclocross competitions, tours such as RAGERAI or Cycle Oregon, and the Tour de France

  • Rides focus on a specific location or special attraction, also known as destination rides. Examples include slick rock mountain riding in Utah, wine country tours in California, and fat biking in Minnesota

  • Day rides and urban cycling: Day trips to local/urban sites. Some examples are city tours, urban brewery tours, and "Slow Roll" rides

Cycling intensity ranges from easy pedaling to hard-core cycling in terrains such as mountains. Cycling provides extraordinary and demanding moments for adventure seekers. Bicycle trips especially group trips provide an opportunity to meet with new people, interact with locals, and experience local culture. Cycling tourism is regarded as a mild adventure in which the rider is expected to have a basic level of fitness and stamina to keep up with the groups. Innovations in the sector include the development of durable cycles that do not require frequent maintenance and can cover longer distances with less peddling.

COVID -19 Impact Analysis

The economic impact of COVID-19 has been enormous, especially in the tourism sector. Many tourism firms had to close and incurred considerable losses. The prebooked bicycle tours were canceled after the announcement of lockdowns in respective countries. In the initial few months of the pandemic, the bicycle trip was completely closed. The market opened up after the lifting of restrictions however with the safety caveats. The trips need to be undertaken while ensuring all the necessary precautions such as social distancing, compulsory usage of masks, and the limit on the number of tourists per trip. Vaccination was one of the necessary requisites for enrolling in bicycle trips or tours.

Perhaps the only business that flourished was the bicycle industry. Bicycle sales grew by more than 25% in June of last year, according to the All-India Cycle Manufacturers' Association, as compared to the same month in 2019. Due to heightened safety concerns about public transit and an increase in mobility with the gradual reopening of the economy, a significant number of individuals chose one of the most basic forms of transportation, namely bicycles. The market received a significant boost owing to the work-from-home or work-from-anywhere setup as the working professionals had more leisure time to go for bicycle trips.

Type Insights

The couple type segment held the largest revenue share of 47.3% in 2021 and is expected to grow significantly during the forecast period. The segment is expected to hold the largest market share throughout the forecast period. Majority of the cycling enthusiasts cycle with partners. Couple trips are popular, especially among married individuals and workout partners. The double-seated cycles are majorly used by couple for bicycle trips. The double-seated bicycles are popular for tourist sports, leisure trips, and nature rides. Couple tours are hand-crafted for honeymoon goers with value additions such as decorated bicycles, additions of meals to the package, curating customized experiences based on the request, and so on.

The group type segment held the second-largest revenue share of 26.3% of the total market in 2021. The segment is expected to grow at the fastest CAGR during the forecast period. The group type segment is expected to grow as group trips allow you to meet new people. Also, the group trips are inexpensive as compared to solo trips or couple trips. The cost of conducting a group trip for companies is less compared to solo or couple trips. Also, companies earn more from group tours and therefore they even offer discounts on them in order to attract more customers. The group trips are especially popular among the age group of 18-30 years.

Tour Type Insights

The multi-day segment accounted for the largest revenue share of around 69.7% in 2021 and is anticipated to register a CAGR exceeding 13.0% from 2022 to 2030. Multi-day cycle tours are long-distance cycle routes. The tour type includes trips between cities. Such inter-city trips are hugely popular in European countries and also in the U.S. Multi-day trips are hugely popular in the nature tourism sector and also in the adventure tourism sector. Companies are offering clubbed packages for multi-day trips which include meals, stay, refreshments, and entertainment. This category of trip demands more fitness, endurance, and stamina. Hence, such trips are mostly for expert or intermediate-level cyclers.

The single-day tour type segment is expected to witness the fastest CAGR of 13.7% in the market for bicycle trips during the forecast period. Cycling is a popular mode of transport in European nations such as the Netherlands, Norway, and France. These countries are home to some of the major tourist spots and single-day cycling tours are a popular sight-seeing experience. Single-day cycle tours are popular in the urban areas wherein one-day cycle trips to nearby areas are organized from the city centers. Other types of single-day trips include heritage cycle rides, nature cycle rides, and midnight tours.

Age Group Insights

The 31-50 years segment held the largest revenue share of 38.3% in 2021 and is expected to increase significantly during the forecast period. The 31-50 years category is the age group with more disposable income as compared to other age groups category. The spending capacity of this age group is more as compared to others. Moreover, there is an increasing awareness of fitness and a healthy lifestyle among this age group owing to the increasing incidences of lifestyle disorders such as obesity, diabetes, etc. The above 50 years age group is also expected to witness a significant growth rate during the forecast period.

 Global bicycle trip market share, by age group, 2021 (%)

The 18-30 years segment held the second-largest revenue share of 32.3% in 2021 and is anticipated to witness a CAGR of 13.9% during the forecast period. The young age bracket of 18-30 years is attracted to bicycle trips owing to the adventure and thrill factor. This age group uses social media. Millennials and gen-Z like posting their adventures on social media and also find inspiration through it. This age group is also increasingly getting inclined toward leading a healthy lifestyle and incorporating physical fitness into regular life, which is a major factor driving the demand for bicycle trips among this group.

Regional Insights

Europe dominated the bicycle trip market and accounted for over 36.4% of the global revenue share in 2021, followed by the Asia Pacific. Cycling tourism is a major tourist attraction in Europe. Cycling is very popular in Germany and other nations such as the Netherlands, Denmark, and France. These countries have a good infrastructure for cycling, wherein there are separate cycle tracks in the city for cyclers. Inclination towards leading a healthy and active lifestyle is majorly observed in the region. Most Europeans are conscious about their diets and exercise regularly, which is also one reason why bicycle trips are very popular among the citizens of 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 to the growth of the regional market. Europe is expected to be the fastest-growing region in the market.

The Asia Pacific is the second-largest regional market for bicycle trips. Nations such as China, Japan, and Singapore are emphasizing 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 ideal cities for bicycle touring. Bicycle touring companies are aggressively targeting growing markets, such as India and Australia, to expand their operations. The growing attraction for adventure and tourism in these countries is among the major factors driving the market for bicycle trips.

Key Companies & Market Share Insights

Key companies are focusing on offering different experiences and value-added services, to improve the salability and re-bookings of the trips. Additionally, market players are continually investing in identifying new routes and destinations to create exclusive and customized experiences. Companies are investing hugely in marketing and promotions. Promotions are majorly done through social media platforms such as Facebook, Instagram, and YouTube. For instance, Spice Roads started a bike trip on the African island of Madagascar. Companies are developing different types of packages to cater to the varying requirement of the customers. Moreover, customizable packages are being offered by companies to incorporate the specific demands of each customer. Some of the prominent players in the bicycle trip market include:

  • Spice Roads

  • Life Time Fitness, Inc. (Unbound Gravel)

  • Epic Road Rides

  • Explore!Worldwide Limited

  • Intrepid

  • Exodus Travels Limited

  • G Adventures

  • Backroads

  • Bicycle Adventures

  • DuVine Adventures

Bicycle Trip Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 1,112.7 million

Revenue forecast in 2030

USD 2.9 billion

Growth rate

CAGR of 13.2% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2021

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Million and CAGR from 2022 to 2030

Report coverage

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

Segments Covered

Type, tour type, age group, region

Regional scope

North America; Europe; Asia Pacific; Rest of the World

Country scope

U.S.; Canada; U.K.; Germany; France; China; Japan; Thailand; Taiwan; Singapore; Australia; South Korea

Key companies profiled

Spice Roads; Life Time Fitness, Inc. (Unbound Gravel); Epic Road Rides; Explore Worldwide Limited; Intrepid; Exodus Travels Limited; G Adventures

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global bicycle trip market report based on type, tour type, age group, and region:

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Solo

    • Group

    • Couple

    • Family

  • Tour Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Single Day

    • Multi Day

  • Age Group Outlook (Revenue, USD Million, 2017 - 2030)

    • 18-30 Years

    • 31-50 Years

    • Above 50 Years

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • Thailand

      • Taiwan

      • Singapore

      • Australia

      • South Korea

    • Rest of World

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