Latest News- Bicycle Market: On-road and track is expected to lead the Product segment during 2025-2029

The Bicycle Market is being driven by Increasing number of bicycle sports events

The Bicycle Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 29.08 billion. The global trend of urbanization and rising disposable incomes in emerging economies have resulted in a significant increase in automobile sales. However, the high density of vehicles on the roads has led to escalating traffic congestion levels. In response, there has been a growing preference for eco-friendly and cost-effective transportation alternatives, such as bicycles. Japanese governments, among others, are promoting bicycle usage as a sustainable commuting solution. Bicycle rental services have gained popularity due to their convenience and affordability. Users can rent bicycles on a flexible basis, whether hourly, monthly, or yearly, through various business models, making bicycle ownership an unnecessary financial burden. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • On-road and track
  • Off-road
  • X-road and hybrid
• End-user
  • Adults
  • Children
• Distribution Channel
  • Offline
  • Online
• Propulsion
  • Manual bicycles
  • Motor-assisted bicycles
• Technology
  • Electric
  • Conventional
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • Mexico
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing number of bicycle sports events
• Health, environmental, and economic benefits of cycling
• Government policies and initiatives promoting bicycles

However, the market also witnesses some limitations, which are as follows:

• Increase in number of product recalls
• Threat from refurbished bicycles
• Increase in number of bicycle accidents

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Market Scope in Bicycle Market Research Report

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Research Analysis Overview

The global bicycle market encompasses various segments including mountain bikes, road bikes, hybrid bikes, BMX racing, and adventure sports. Amidst increasing traffic congestion and carbon emissions, electric cycles and carbon footprint-conscious consumers have fueled market growth. Bicycle-friendly infrastructure, GPS technology, and mobile app development are key trends. Companies focus on lightweight materials, hybrid models, and cargo bikes for personal transportation, surpassing fossil fuel-powered cars. Electric vehicles and dockless bicycle-sharing systems are disruptors, shaping the future of this industry.

Market Research Overview

The bicycle market, a significant segment of the larger household durables industry, encompasses the production and sales of mountain bikes, road bikes, hybrid bikes, and electric cycles. According to Technavio, the global household durables market revenue is derived from manufacturers of various product categories, including leisure products, consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties. Market expansion will be fueled by the burgeoning health and fitness sector, with a surge in gym memberships and the subsequent increase in the number of health and fitness clubs. This trend is expected to positively impact the bicycle market, as cycling is a popular form of physical activity and an eco-friendly mode of transportation. Additionally, the growing popularity of electric cycles is anticipated to contribute significantly to market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/