Global Bicycle Market to Reach US$ 74.59 Billion by 2033 on Green Policies and E-Bike Adoption

Bicycle Market Size and Forecast

According to Renub Research recently released report, “Global Bicycle Market & Forecast covers by Type (Road Bicycle, Hybrid Bicycle, All Terrain Bicycle, E-Bicycle, Other Types), Distribution Channel (Online Stores, Offline Stores), Countries and Company Analysis, 2025-2033”.The market for bicycles is expected to increase from about US$ 52.63 billion in 2024 to US$ 74.59 billion by 2033, indicating a compound annual growth rate (CAGR) of 3.95% during the 2025-2033 period. The market is witnessing growth thanks to the government's favorable policies regarding reduction of automobile-derived carbon emissions and the improvement of electric bicycle technology.

Global Bicycle Industry Overview

A bicycle is a human-powered or electric-assisted, two-wheeled vehicle designed to provide a means of transport, recreation, fitness, and sport. It consists of a frame, wheels, pedals, drivetrain, handlebars, and braking system that allow riders to travel efficiently, using physical effort or, in the case of electric bicycles, assisted motor power. Bicycles are considered valuable because of their simplicity, affordability, and versatility; thus, they can be used by people of all ages. They come in different forms, such as road bikes, mountain bikes, hybrid bikes, children's bicycles, and electric bicycles, each designed for specific terrains and purposes.

Bicycles form part of human daily travel, locomotion, physical training, and entertainment. In urban centers, bicycles easily solve the problem of traffic jams and are inexpensive to travel with. They also remain a favored choice for recreational outings, touring, and professional events such as road racing, mountain biking, and track cycling. Health-wise, cycling contributes to cardiovascular health, body strength, body weight, and mental fitness. Moreover, bicycles are increasingly used for last-mile delivery services and shared mobility programs.

While it will not be surprising for some, globally, the trend of bicycles is increasing uphill due to environmental awareness, urbanization pressures, and necessities toward ecologically friendly transportation modes. Because of this, governments and local planners encourage the application of cycling through dedicated bike lanes, public bike-sharing systems, and other incentives that reduce carbon emissions. This has been furthered by electric bicycles, which have broadened the circle of possible users by accommodating older citizens and commuters over longer distances. With a growing emphasis on healthy lifestyles, eco-friendly mobility, and cost-effective transport, bicycles continue to hold great importance in global transportation and recreation.

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Recent Development in the Bicycle Market

·        In September 2024, Stryder Cycle Pvt. Ltd. launched Voltic GO and Voltic X for urban mobility. The e-bikes are fitted with splash-proof and fast-chargeable 48V battery. The e-bikes can cover up to 40 km on a single charge. The e-bikes are suitable for light off-road and city streets, thus meeting the requirements of the urban commuters.

·        Rijkswaterstaat, the Dutch water management agency, announced in December 2023 that two more PV bike-path projects are operational in the country. Two French companies, Colas, and the Dutch construction contractor BAM Royal Group have developed two cycle paths with photovoltaic modules in the Netherlands. Each bike path covers 1,000 square meters in the provinces of North Brabant and North Holland.

·        October 2023 saw the introduction of an all-new Silex gravel bike by Merida Industry Co., Ltd. to enhance comfort, speed, and traction on all types of terrain. The new second-generation Silex gravel bikes have been debuted with revised geometry, a boost in tire clearance, and a main focus on backpacking and multi-surface adventure riding. The revamped Silex range offers six models in carbon fiber and aluminum options.

·        In March 2023, Himiway unveiled its range of electric bicycles, including Pony, Rambler, and Rhino, designed for off-road, daily commuting, and easy cycling.

·        In October 2023, a new high-performing electric cargo bike, the GRAOOPRO, was unveiled by Addmotor, which has a maximum load capacity of 500 lbs and a range of 210 miles with its dual battery.

Growth Drivers of the Bicycle Market

Growing Focus on Sustainable and Eco-Friendly Transportation

One of the major factors responsible for the expansion and growth of the global bicycle industry and market is the increased importance being awarded to “sustainable and eco-friendly transportation globally.” With issues like air pollution, traffic, and greenhouse emissions growing with each passing day, it is no wonder that various governments and people around the world are resorting to “ecological and environmentally friendly transportation modes.” Furthermore, bicycles cause zero emissions and neither consume nor produce energy, thereby making them one of the most viable options for those seeking an eco-friendly transportation alternative. Moreover, it has been observed that “many governments are adopting supportive policies like specific lanes for cycles, car-free zones, tax reductions, and subsidies to boost cycling, and urban planners are incorporating it into urban development plans, particularly smart city initiatives.” As the importance of protecting the environment increases and it assumes the position of one of the most vital factors globally, bicycles have become a prominent product, leading to the growth and development of the associated market. November 2024: Emotorad has launched its new product, the “ST-X E-Cycle.”

Rising Health Awareness and Fitness-Oriented Lifestyles

Another major factor contributing to the growth of the bicycle industry is the increased awareness and importance being attached to health and wellness measures. This is because a bicycle is considered a prime source of physical exercising for improving heart health, building muscles, and controlling weight, as well as improving mental well-being. With an increase in sedentary lifestyles, more and more people are seeking bicycles for fulfilling their fitness requirements and enjoying a healthy ride. In addition, during the pandemic, bicycles became a popular means of exercising to keep themselves and others safe at a social distance. Hence, as more and more people are focusing on fitness and a healthy lifestyle, sales of bicycles across all age groups are ever increasing. June 2025: Batch Bicycles has introduced a new 20-inch mountain bike, available for kids aged 6 and above, priced at USD 520 in holographic silver and chameleon colors. Equipped with a 6061alloy frame, Microshift Acolyte 8-speed, and mechanical disc brakes, along with 2.6" tires.

Technological Advancements and Growth of Electric Bicycles

Technological developments, especially in the sales of electric bicycles, are significantly fueling market growth. These are environment-friendly as power is provided while pedaling through the electric motor. They are easy to handle over long distances, hilly terrain, or even for the aged or less physically active. The incorporation of technology in electric bicycles has given them exciting mileage and increased their acceptability. Moreover, their ability to provide the benefits of both bicycles and motor vehicles has resulted in the expansion of the market for electronic bicycles. Further, technological developments will continue to provide fuel for the market for bicycles in the coming years. June 2025: Tata’s e-cycle was launched under the product name Stryder Zeeta Plus. It was priced in the market at INR 39,999. The e-cycle had a range of 100 km, along with a motor of 250W. It was equipped with the facility of charging within 3 hours. Tata’s e-bike provides the benefits of environmentally friendly modes of transportation.

Segment Analysis

Road Bicycles Market

The market size for the road bicycles industry is influenced by factors related to the growing demand for fitness and sporting activities. This is because road bicycles are created for optimal performance in racing and traveling on efficient and rapid pathways. They offer a wide range of benefits for users, including their quick performance and easy maintenance. These bikes have been adopted by professionals, fitness enthusiasts, and even commuters who strive to cover distances with utmost speed. The demand for these cycles is also driven by sporting enthusiasts who have taken to sporting activities, marathons, and other competitive sporting activities. Consumers in the cities are also using road bicycles as a means to cover commuting distances due to their efficiency. Therefore, as awareness grows related to fitness and sporting activities, the road bicycles market is likely to witness optimal demand.

E-Bicycles Market

The market segment related to E-bicycles is currently witnessing rapid growth because of the technological advancements happening in electric mobility and the general attitude of people towards transport means. E-bicycles are electric bicycles equipped with electric motors and rechargeable batteries, making them easily accessible and usable, especially because of their ability to assist their cyclists while they are riding, making the overall experience much more comfortable and enjoyable. E-bikes are very popular among seniors and urban cyclists, and there are already many people who use E-bicycles as a mode of transportation because of their ability to take people places effectively without the nuisance of traffic and the general high costs of fuel that are currently being witnessed in the majority of the country.

Hybrid Bicycles Market

The hybrid bicycles market is growing in response to demand for versatile bikes that can function on both urban roads and light off-road conditions. Hybrid bicycles incorporate road and mountain bike features into a bike that provides comfort, durability, and flexibility. Casual riders, commuters, and beginners favor them because they offer more-balanced performance without specialization. Comfortable riding, upright posture, wider tires, and gears that can adapt to various conditions boost riding comfort and safety. Urbanization and growing interest in everyday exercise have also supported the hybrid bicycle market. In general, hybrid bicycles have consistently and are still gaining popularity amongst people across diverse age groups.

Online Bicycles Market

The online bicycles market is growing at a high rate due to the expansion of the e-commerce and online shopping market. People have more inclination toward online shopping as they get a wide range of information about the variety of bicycles at nominal prices and customer reviews as well. In recent times, the e-commerce market has established trust among people regarding the purchase of bicycles online. Many bicycle brands facilitate online customers by providing them with information regarding the sizes of the bicycles.

Offline Bicycles Market

The offline market for bicycles is an important part of the distribution channel, and this is due to a number of factors. The offline market helps consumers inspect the product and also provides after-sales services. The offline market provides customers with a chance to inspect their product of interest, especially bicycles, and also seek expertise from professionals. The offline market provides buyers with a chance to be confident about their purchased product, hence ensuring buyer assurance. The offline market for bicycles has been boosted due to the increase of bicycle stores, hence becoming an integral part of the global bicycle market.

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Country Analysis

United States Bicycles Market

The United States bicycles market is established and further encouraged by increasing health awareness, environmental concern, and fascination with alternative modes of transport. Cycling is widely adopted for fitness, recreation, commuting, and competitive sports. In urban areas, there is a growing number of bicycles on the road as cities invest in bike lanes, trails, and cycling-friendly infrastructure. In particular, demand for road bikes, mountain bikes, and electric bicycles increased due to consumer interest in efficient and sustainable mobility. The popularity of outdoor activities and fitness-oriented lifestyles further supported market expansion. Moreover, shared mobility programs along with last-mile delivery services encourage bicycle adoption. With strong brand presence at the premium end, innovation in lightweight materials, and advanced technology in e-bikes, these trends continue to influence the market. Sustainability and wellness remain top of mind for consumers; hence, the U.S. bicycles market is poised for continued steady growth.

United Kingdom Bicycles Market

Largely, the bicycles market in the United Kingdom is driven by the increased focus on sustainable transportation modes and healthy lifestyle practices. For instance, the popularity of bicycles has increased as a means of transportation in the UK to counter the high levels of traffic and emissions. Furthermore, the UK government initiatives, such as the development of dedicated bike lanes for urban cycling, have also promoted the deployment of bicycles as a sustainable means of transportation. Bicycles have increasingly been adopted as a means of commuting and leisure activities; moreover, hybrid bicycles have especially recorded high demand in the market. With the rising concerns over fuel prices and the need to conserve the environment, many users have preferred to use bicycles for traveling moderate distances. In the UK, the bicycles market has also been driven by the high adoption of leisure cycling activities.

India Bicycles Market

The bicycles market in India is growing steadily with the high population base, affordability, and prevalence of health and fitness culture in the country. Bicycles find wide usage in day-to-day commuting, especially in the rural or semi-urban areas of the country due to their low maintenance costs. In the urban areas, bicycles have also gained popularity, especially for fitness and leisure activities. In the past, the government has taken initiatives to promote cycling and eco-friendly modes of transportation, including bicycles, thereby boosting the market for bicycles in the country. Further, the electric bicycles have gained popularity in the urban regions as a means for eco-friendly transportation. The rise in e-commerce business has further added value to the market for bicycles in the country.

Saudi Arabia Bicycles Market

The Saudi Arabia bicycles market is in a gradual phase of development, facilitated by increasing awareness of health and fitness, as well as governmental encouragements to adopt healthier lifestyles by engaging in more physically and socially active habits. The popularity of cycling is increasing as a form of enjoyable activity used for fitness and recreational purposes, especially among younger generations in urban centers. The development and expansion of more tracks, parks, and sports facilities for cyclists have contributed positively to increased engagement in this activity, especially for fun rides and fitness as a way of improving community well-being at large. As Saudi Arabia is shifting towards increased awareness about environmental conditions and transportation means, the bicycles market in Saudi Arabia is expected to grow in the coming years.

Market Segments

Type

·        Road Bicycle

·        Hybrid Bicycle

·        All Terrain Bicycle

·        E-Bicycle

·        Other Types

Distribution Channel

·        Online Stores

·        Offline Stores

Country

North America

·        United States

·        Canada

Europe

·        France

·        Germany

·        Italy

·        Spain

·        United Kingdom

·        Belgium

·        Netherlands

Asia Pacific

·        China

·        Japan

·        India

·        Australia

·        South Korea

·        Thailand

·        Malaysia

·        Indonesia

·        New Zealand

Latin America

·        Brazil

·        Mexico

·        Argentina

Middle East & Africa

·        South Africa

·        Saudi Arabia

·        Turkey

·        United Arab Emirates

All the Key players have been covered from 5 Viewpoints:

·        Overview

·        Key Persons

·        Product Portfolio

·        Recent Development & Strategies

·        Revenue Analysis

Company Analysis:

·        Accell Group NV

·        Trek Bicycle Corporation

·        Pon Holdings BV

·        Giant Manufacturing Co. Ltd

·        Bulls Bikes

·        Pedego Inc.

·        Benno Bikes LLC

·        Hero Cycles Limited

·        Ribble Cycles

·        Riese Und Muller Gmbh

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