Bicycle Market Set to Pedal Up to $108.93 Billion by 2030 with a 7% CAGR Growth as per Stellar Market Research

The global bicycle market was valued at USD 67.83 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7% from 2024 to 2030, reaching nearly USD 108.93 billion by 2030. This report provides an in-depth analysis of the market, including key trends, dynamics, and regional insights.

Bicycle Market Overview
Bicycles represent a sustainable mode of transportation with diverse types including cargo bikes, electric bikes, and mountain bikes. They are known for their ease of use and safety. Key cycling associations and events, such as the Tour de France and various local cycling clubs, play a significant role in promoting cycling culture in Europe and North America. The market is expected to grow steadily due to these factors, with a forecasted CAGR of 7% from 2024 to 2030.

For more detailed insights and comprehensive data, please refer to the full report:https://www.stellarmr.com/report/Bicycle-Market/179

Market Scope and Methodology
This report offers a comprehensive analysis of the bicycle market, including historical data, current trends, and forecasts through 2030. It covers various market segments, regions, and key players, providing valuable insights for stakeholders and investors.

Market Dynamics
Increasing Number of Cycling Events
The rise in cycling events for both leisure and sports is driving market growth. Celebrity endorsements and media coverage of events are boosting consumer interest. Initiatives by organizations like Cycling Ireland and international festivals like Seville's Bicycle Festival highlight the growing popularity of cycling.

Technological Advances in Bicycle Sharing
The advent of app-based dockless bike-sharing systems, particularly in metropolitan areas with traffic congestion, is boosting bicycle demand. Chinese bike-sharing firms are expanding in Europe, indicating strong growth potential.

Impact of Fitness Trends
Fitness apps like Strava are reporting increased cycling activity in cities like Los Angeles and Houston, and the pandemic has further accelerated bicycle sales due to heightened health awareness and government incentives in countries like Italy.

Challenges
Infrastructural limitations in developing countries, and the high cost of advanced lightweight bicycles, pose challenges to market growth.

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Market Segmentation
By Type
Conventional Bicycles: Dominates with 85.2% market share in 2023 due to lower repair costs and widespread use.
Electric Bicycles: Expected to grow at the fastest rate (CAGR over 8%) due to advancements in battery technology and ease of use.
By Product
Road Bikes: Largest revenue share of 41.1% and anticipated to remain dominant.
Mountain Bikes: Growing popularity among millennials and families contributes to segment growth.
By End User
Men
Women
Kids

For further insights and detailed analysis, request the free sample report:https://www.stellarmr.com/report/req_sample/Bicycle-Market/179

Market Trends and Adoption Outlook
Recent developments include Pon.Bike's acquisition of Urban Arrow, and Sparta's launch of a new electric bike. Additionally, Trek Bicycle's partnership with Bike Exchange and the expansion of bike lanes in major cities highlight ongoing market evolution and consumer adaptation.

Regional Insights
Asia-Pacific: Dominates with over 33% revenue share and expected to be the fastest-growing region (CAGR over 8.0%). Countries like China and Japan are expanding cycling infrastructure.
Europe: Significant growth expected, driven by popular cycling events and supportive infrastructure in countries like Belgium and Denmark.
North America: Steady growth, with increasing consumer interest and infrastructure development.
Latin America and Middle East and Africa: Emerging markets with growing potential.

Competitive Landscape
Key players in the market include:

Accell Group
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Specialized Bicycle Components, Inc.
Recent developments by these companies reflect the dynamic nature of the market and ongoing innovation in bicycle design and technology.

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Key offerings:

Market Share, Size, and Forecast by Revenue|2024-2030
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation: A detailed analysis by segments, sub-segments and Region
Competitive Landscape- key Players and Other Prominent key players.

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About Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. We provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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