Bike Market Size To Reach $140.83 Billion By 2033 | CAGR 6.6%

Bike Market Growth & Trends

The global bike market size is estimated to reach USD 140.83 billion by 2033, registering a CAGR of 6.6% from 2025 to 2033, according to a new report by Grand View Research, Inc. The global demand for bicycles is experiencing an unprecedented rise, driven by evolving lifestyles, heightened environmental awareness, and shifting mobility preferences. As individuals worldwide seek healthier, more sustainable alternatives to motorized transport, cycling has emerged as both a fitness choice and a practical commuting solution. This renewed interest cuts across age groups and demographics, signifying a broader cultural movement towards conscious consumption and active living.

Today’s consumers are increasingly valuing health and wellness, not only in diet and self-care but also in transportation. Bicycles are seen as tools for mental and physical well-being, encouraging regular exercise, reducing stress, and promoting social connectivity through group rides and urban cycling clubs. Alongside this, a strong environmental conscience is influencing purchasing decisions, with many choosing bicycles as a carbon-neutral alternative to cars. Moreover, the integration of digital features such as GPS tracking, fitness monitoring, and e-bike connectivity caters to tech-savvy riders seeking convenience and performance metrics, further boosting adoption.

Regionally, Europe continues to lead the global bike market, supported by robust cycling infrastructure, government subsidies, and cultural acceptance of bikes as mainstream transport. Cities like Amsterdam, Copenhagen, and Berlin are models of bike-first urban planning.

Manufacturers are rapidly adapting to this growing demand by expanding product lines, investing in innovation, and reinforcing global supply chains. From lightweight carbon fiber frames to electric power-assisted bicycles (e-bikes), product diversification is at the forefront. E-bikes, in particular, are revolutionizing how people view longer-distance commuting and are contributing significantly to market growth.

Beyond personal use, bicycles are gaining traction in various commercial sectors. Urban logistics companies are turning to cargo bikes for last-mile deliveries, cutting through dense city traffic and reducing fuel expenses. Similarly, bike-sharing programs are expanding rapidly in metropolitan areas worldwide, supported by app-based rental systems and public-private partnerships. Tourism and hospitality industries are also embracing cycling, offering guided bike tours and rental fleets as part of eco-conscious travel experiences. These developments point to bicycles becoming integral to both consumer lifestyles and operational business strategies.

 Request a free sample copy or view report summary: Bike Market Report

Bike Market Report Highlights

• By type, the conventional bikes segment accounted for a largest revenue share in 2024, due to their affordability, easy maintenance, and widespread use for daily commuting and recreation. Their simple design and broad accessibility make them a preferred choice in both urban and rural markets.

• By product, the road bikes segment accounted for a revenue share of 31.25% in 2024, owing to their speed, lightweight design, and efficiency on paved surfaces, making them ideal for fitness enthusiasts and long-distance riders. The growth of amateur cycling events and road racing communities also drives their popularity.

• By end-use, Men’s bikes segment accounted for a revenue share of 77.35% in 2024, primarily due to men's traditionally higher involvement in cycling for fitness, sport, and commuting purposes. This demand is supported by extensive product availability across categories such as road, mountain, and hybrid bikes, with designs optimized for male ergonomics and performance. Additionally, targeted marketing campaigns and a strong presence in competitive cycling continue to reinforce male consumer dominance in the segment.

• By application, the personal/ individual bike segment accounted for a revenue share of 85.78% in 2024, as more people adopt cycling for commuting, fitness, and leisure activities. The convenience, cost-effectiveness, and health benefits of personal bike ownership make it a popular choice across diverse age groups and lifestyles.

Bike Market Segmentation

Grand View Research has segmented the global bike market on the basis of type, product, price range, end-use, application, and region:

Bike Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• Conventional

• Electric

Bike Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• City/Commuter Bikes

• Road Bikes

• Mountain Bikes (MTB)

• Hybrid Bikes

• Cargo Bikes

• Others

Bike Price Range Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• City/Commuter Bikes

  • Low (USD 200 to 500)

  • Mid-Range (USD 500 to USD 1,000)

  • High End (Above USD 1,000)

• Road Bikes

  • Low (USD 400 to 1,000)

  • Mid-Range (USD 1,000 to USD 2,500)

  • High End (Above USD 2,500)

• Mountain Bikes (MTB)

  • Low (USD 300 to 7,00)

  • Mid-Range (USD 700 to USD 1,800)

  • High End (Above USD 1,800)

• Hybrid Bikes (Road & MTB)

  • Low (USD 300 to 700)

  • Mid-Range (USD 700 to USD 1,500)

  • High End (Above USD 1,500)

• Cargo Bikes

  • Low (USD 500 to 2,500)

  • Mid-Range (USD 2,500 to USD 4,500)

  • High End (Above USD 4,500)

• Others

  • Low (USD 200 to 800)

  • Mid-Range (USD 800 to USD 1,200)

  • High End (Above USD 1,200)

Bike End-use Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• Men

• Women

Bike Application Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• Personal/Individual

• Commercial

Bike Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa (MEA)

  • South Africa

List of Key Players in the Bike Market

• Giant Manufacturing Co. Ltd.

• Trek Bicycle Corporation

• Merida Industry Co., Ltd.

• Specialized Bicycle Components

• Accell Group N.V.

• Hero Cycles Ltd.

• Pon Holdings (Pon.Bike)

• Scott Sports SA

• Cube Bikes (Cube GmbH)

• Avon Cycles Ltd.