Bicycle Market to Grow at a Notable CAGR of 11.2% over 2025 to 2032; Increased Health and Fitness Awareness to Bolster Market Growth

The global bicycle market size was valued at USD 108.74 billion in 2024. The market is projected to grow from USD 116.56 billion in 2025 to USD 245.33 billion by 2032, exhibiting a CAGR of 11.2% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Bicycle Market Size, Share & Industry Analysis, By Technology (Electric and Conventional), By Type (Mountain, Road, Hybrid, Cargo, and Others), By End-User (Men, Women, and Kids), By Design (Folding and Regular), By Distribution Channel (Offline and Online), and Regional Forecast, 2025–2032”.

The demand for bicycles has surged due to increased health and fitness awareness globally. With cycling used for exercise, sports, hiking, and commuting, manufacturers offer a range of bikes such as mountain, road, and hybrid models. Rising traffic, urbanization, and environmental concerns are fueling this market growth.

The COVID-19 pandemic prompted unprecedented measures to curb the virus spread, impacting travel behaviors. As a result, the product demand surged during the outbreak.  

Acer Introduced New Models to Improve its Performance in All Terrains  

Acer launched eNomad-R series, Acer eCargo-M e-bikes, and Acer ebii elite in July 2024, which were introduced at the EUROBIKE 2024 in Frankfurt. Alongside, Acer presented its full e-mobility range. The ebii elite models feature enhanced performance, including better acceleration and climbing, ideal for various terrains.     

Rising Adoption of E-Bikes to Drive Market Growth

The rising traction of e-bikes is fueled by advances in battery technology and rising gasoline vehicle costs, leading to more commuters opting for electric bikes. Their convenience, eco-friendliness, and use in bike-sharing contribute to market growth, especially in urban areas with traffic issues. E-bikes offer an efficient alternative to cars and public transport, while government incentives are set to support future demand.

However, the higher cost of e-bikes compared to scooters or motorbikes and the insufficient charging infrastructure could hinder bicycle market growth.

Industry Participants Focus on Expanding their Networks to Gain Competitive Edge

Hero Cycles Ltd, Accell Group., and Giant Bicycles are major players in the market, expanding their offerings and networks. Giant Bicycles, known for high-quality bikes, offers products across various categories, including e-bikes. In January 2022, they introduced the Trance X E+, an E-MTB with advanced features such as an SRAM Drive Pro motor and Maestro suspension system, suited for all terrains.

List of Key Players Mentioned in the Report:

• Hero Cycles Ltd. (India)
• Merida Industry Co., Ltd. (Taiwan)
• Orbea (Spain)
• Trek Bicycle Corporation (U.S.)
• Giant Bicycles (Taiwan)
• Accell Group (Netherlands)
• Mobility Holdings, Ltd. (Taiwan)
• Derby Cycles (Germany)
• Pon Holdings B.V. (Netherlands)
• Brompton Bicycle Inc. (U.K.)
• Bianchi (Italy)
• BOSCH e-Bike system (Germany)
• Specialized Bicycle (U.S.)
• Cannondale Bicycle (U.S.)
• Cervélo Cycles (U.S.)
• SRAM LLC (U.S.)
• Shimano (Japan)
• Yamaha Motor Co., Ltd. (Japan)
• Ideal Bike Corporation (Taiwan)
• KMC Chain Industrial Co., Ltd. (Taiwan)
• DARFON Electronics Corp (Taiwan)
• Lee Chi Enterprise Co., Ltd (Taiwan)
• Phoenix Bicycle Manufacturing Co., Ltd (China)
• SAVA Bicycle (Europe)
• XDS Bicycle Co., Ltd. (China)
• Bafang Electric (Suzhou) Co., Ltd (China)
• DJI (China)
• SCOTT Sports (Switzerland)
• TQ group (Germany)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/bicycle-market-104524

Key Industry Development:

• January 2024: Gin E-bikes secured an investment of USD 6,46,970 for expansion and new models. The company focuses on hybrid bikes for long-distance trips. The funding was provided by Toloka.vc, a Ukrainian investment firm with over 300 investments totaling USD 200 million, including 20 exits and 10 unicorns.

Further Report Findings

• The Asia Pacific region, valued at USD 53.99 billion in 2024, dominates the global bicycle market share and is poised to maintain its lead. Taiwan’s manufacturing prominence and increasing urbanization are key drivers. With growing traffic and pollution concerns, more people are turning to bicycles. SRAM’s new facility in Taiwan is expected to accelerate market growth during the forecast period.     
• Europe is expected to lead in market growth, due to its deep-rooted cycling culture and advanced infrastructure, such as bike lanes and cycle-friendly cities. Proposed measures by the European Parliament, including more bike lanes and reduced VAT, are set to boost the EU cycling industry.

Table of Segmentation