BIKE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Global Bike Market Size and Forecast – 2025-2032

The Global Bike Market is expected to stand at a value of USD 63 Bn in 2025 and is expected to reach USD 125 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 10.28% from 2025 to 2032 (forecast period).

Key Takeaways of the Global Bike Market:

• The mountain bikes segment is set to occupy 40% market share in 2025.
• The conventional technology segment is expected to gain at least 80% market share by 2032.
• North America is expected to lead the global bike market with 30% share in 2025.
• Asia Pacific is projected to exhibit the fastest growth, holding a share of 27.9% in 2025.

Market Overview:

The global bike market is primarily driven by increasing environmental concerns, urbanization, and the need for sustainable transportation solutions. The emergence of bicycles as a popular alternative to traditional motorized vehicles, while offering numerous benefits such as reduced carbon emissions, improved health and fitness, and cost-effectiveness can drive its demand over the forecast period. However, huge maintenance costs of electric bikes and the lack of weather-suitable environment for cycling in certain countries can limit the market growth.

Current Events and Its Impact

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Segmental Insights

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Bike Market Insights, by Type: Mountain Bikes to be Leading Segment in 2025

The mountain bikes segment is expected to capture 40% share of the bike market in 2025. This is attributed to the growing interest in outdoor recreational activities as well as advancements in electric assistance technology. Government initiatives to promote cycling through cycling events and separate pathways for cycling to reduce traffic congestion can drive the segment demand. Furthermore, technological additions such as better suspension systems and light-weight carbon frames can increase the appeal of mountain bikes.

Bike Market Insights, by Design: Regular Bicycles to Sustain Market Share Till 2032

By design, regular bicycles will continue to garner a significant market share in 2025 owing to urban mobility initiatives by cities like Paris and bike rental schemes in holiday spots for preventing environmental erosion. Preference of regular bikes as a green alternative to curb carbon emissions can drive its demand over the forecast period.

Bike Market Insights, by Technology: Conventional to Capture Larger Market Share

Among the technology segment, the conventional segment is expected to dominate over the forecast period owing to their affordability and preference by a larger crowd of cycling enthusiasts. It is expected to gain at least 80% share of the market till the end of the forecast period.

Bike Market Insights, by Distribution Channel: Online to be Reliable

Among the distribution channel, the online segment is likely to generate a larger revenue stream owing to strategies to entice online users and convenience through faster cashless payment methods. It is expected to capture 20% share of the bike market in 2025. The offerings by online retailers to sell bikes and bike accessories to their customer base can bolster demand among bike enthusiasts. This is illustrated by the launch of such offerings by Scott USA, Competitive Cyclist, and Contender Bicycles in March 2025.

Bike Market Insights, by End Users: Men Segment to be the Biggest Buyers

Among end users, the men segment is expected to dominate the bike market owing to the preference of high-end bicycles and integration of cutting-edge features in latest models. The launch of high-performance products armed with the latest equipment by bicycle manufacturers are enticing men to spend more on bikes. Additionally, the online market for used bicycles and simple financial schemes for buying them is expected to drive the demand within the segment till 2032.

Role of Artificial Intelligence (AI) in the Bike Market

Artificial intelligence is revolutionizing the bicycle industry by optimizing manufacturing, enhancing safety, and creating smarter riding experiences. From AI-driven design tools to adaptive bikes that respond to terrain, these innovations are reshaping how bicycles are built, used, and integrated into broader transportation ecosystems.

AI Integration in Manufacturing and Design

Companies are leveraging AI to streamline production and create high-performance bicycles. Neural Concept, a Swiss startup, used machine learning to design an ultra-aerodynamic bike frame by simulating thousands of iterations in hours rather than weeks. Similarly, AWS demonstrated AI-powered quality control systems at Hannover Messe 2025, where cameras and sensors in a simulated e-bike factory detected defects in real time, reducing waste by 30%. These implementations show how AI accelerates innovation while improving precision across supply chains.

Safety and Urban Mobility Applications

AI enhances cycling safety through data-driven infrastructure planning and collision prevention. Cities like Zurich now use AI to analyze traffic patterns, identifying high-risk intersections for targeted bike lane expansions. Startups are developing integrated alarm systems that alert cyclists and drivers via visual/sound cues when vehicles encroach on bike lanes. Bike-sharing programs in Barcelona employ AI to predict demand spikes using weather and event data, ensuring optimal bike availability while cutting operational costs by 22%.

Kawasaki’s AI-Powered Corleo Bike

Kawasaki’s Corleo represents a leap in smart mobility, featuring terrain-adaptive robotic legs and an AI balance system. Riders experience personalized handling adjustments for urban commutes or off-road trails, with real-time navigation synced to smart city grids. In emergency scenarios, its AI autonomously navigates debris-filled areas, making it vital for disaster response teams. Early adopters report a 40% reduction in commute times and improved safety in challenging conditions.

These advancements signal a shift toward interconnected, AI-driven ecosystems where bicycles evolve from simple vehicles to intelligent mobility solutions. As manufacturers and cities prioritize efficiency and safety, AI’s role in shaping cycling’s future grows increasingly indispensable.

Regional Insights:

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North America Bike Market Analysis and Trends

North America is expected to lead with a market share of 30% in the bike market in 2025. Regular bicycles remain the dominant segment in North America due to entrenched cultural preferences for outdoor recreation, cost-effectiveness, and low maintenance.

Recreational biking is deeply integrated into North America’s regional lifestyle, supported by expansive trail networks like the 24,000-mile Great American Rail-Trail developed by the Rails-to-Trails Conservancy. This project connects 12 states from Washington, D.C., to Washington State, fostering cycling tourism and local trail usage. Municipalities such as Boulder, Colorado, report that 68% of residents engage in recreational cycling weekly, driven by accessible routes like the Boulder Creek Path.

Asia Pacific Bike Market Analysis and Trends

Bicycle sharing is the leading trend in the Asia Pacific bike market due to rapid urbanization and government-backed initiatives, promoting sustainable transit. It is estimated to occupy close to 27.9% of the market share in 2025. In China, cities like Shanghai and Hangzhou have deployed over 3.7 million shared bicycles, with daily ridership exceeding 15 million trips.

Competitive cycling events are another trend that can bolster the demand for bicycles. It is being fueled by rising participation in sporting events and tourism. For instance, The Tour de Lombok in Indonesia, established in 2022, attracted 5,000 participants in 2024, doubling its registration count.

Thailand’s "Bike for Mom" royal initiative saw 200,000 riders across 77 provinces in 2023. The partnerships of national agencies of South Korea and Malaysia with brands like Shimano to host annual mountain biking championships is likely to boost equipment sales by 25% year-on-year. Japan’s UCI-sanctioned Tour de Kyushu has spurred a 40% increase in premium road bike imports since 2023, reflecting the segment’s commercial momentum.

Bike Market Outlook for Key Countries

U.S. Bike Market Analysis and Trends

The U.S. bike market is expected to be a top contributor to the global market owing to initiatives by cities like Portland and Seattle to integrate e-bikes in their transportation network. Sustainability initiatives to curb pollution levels and reduce urban traffic jams can drive the demand significantly over the forecast period. Cargo bikes are expected to gain an upsurge in demand owing to the rise of quick commerce companies and urban logistics. Cargo bike fleets in Oregon, for instance, are used in transporting students to schools while reducing the reliance on buses.

U.K. Bike Market Analysis and Trends

The U.K. bike market is driven majorly due to the high sales of electric bikes or e-bikes. With a total of 2.2 million bicycles being sold annually and women being the biggest buying segment, bicycle manufacturers are launching new marketing initiatives to counter misinformation of e-bikes as well as launching new models.

In January 2025, the Bicycle Association wrote a letter to register its complaint to the British Broadcasting Corporation (BBC) to prevent television channels from slandering e-bikes and their potential harm to riders. Rent-to-buy schemes or zero percent credit schemes can pave the way to better bike ownership in the coming years.

Germany Bike Market Analysis and Trends

Germany is expected to be a lucrative region for the bike market. This is attributed to the well-planned urban infrastructure and nurturing of nearby tourist spots. This is exemplified by the North Sea cycle route that goes through Germany, Denmark, the U.K. Sweden, Belgium, and the Netherlands. The opening of a 28 mph e-bike lane in Germany in May 2024 can lead to the demand for S-pedelecs or speed pedelecs can boost the demand for electric bikes.

India Bike Market Analysis and Trends

The India bike market is touted to boom owing to initiatives by sports ministries of states to promote cycling and healthy habits among its citizens. The integration of cycling lanes in urban transport planning and encouragement of a conducive cycling environment can drive the regional demand for bicycles significantly. Electric bicycles are gaining prominence owing to being an alternative to motorized transport. In addition, bike sharing programs and awareness of sustainable living practices can drive the bike market growth of India.

Market Players, Key Development, and Competitive Intelligence:

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Key Developments:

• On May 06, 2025, Cannondale Corporation launched the Cannondale Synapse. The electric bike has lightweight frames and an improved steerer system targeted at performance enthusiasts.
• In August 2024, Amazon launched electric cargo bikes to electrify the U.K. transport network. It delivered items to Norwich customers through e-cargo bikes. It is joined by Delivery Mates, FedEx Express, and Northgate Vehicle Hire.
• The town of Richmond, London, will launch an initiative – the Richmond Cargo Bike Fair that will commence its operations from 15 June, 2025.

Top Strategies Followed by Global Bike Market Players

• Established Players: Major brands like Giant, Trek, and Specialized focus heavily on brand positioning, innovation, and technological integration. Their strategy centers on creating high-performance bikes with features like lightweight carbon frames, integrated electronics (e.g., smart bikes), and advanced aerodynamics. They also emphasize sustainability, aiming for carbon-neutral operations and eco-friendly materials. These players invest in R&D and sponsor professional cycling teams to enhance brand prestige.
  • Trek Bicycles launched the "Project One" customization platform, allowing customers to design their own bikes — blending personalization with performance.

• Mid-Level Players: Mid-sized manufacturers often pursue niche segmentation and geographic diversification to compete. They may specialize in specific categories like gravel bikes, commuter bikes, or e-bikes and tailor their offerings to regional preferences. Their agility allows faster adaptation to local trends and moderate investment in e-mobility solutions.
  • Merida, originally a mid-level Taiwan brand, successfully expanded its European presence by offering mid-range performance bikes that balance affordability with quality — targeting recreational cyclists rather than professionals.

• Small-Scale Players: Smaller companies tend to leverage direct-to-consumer (D2C) models and craftsmanship-driven customization to stand out. They often sell online to cut distribution costs and appeal to urban cyclists or enthusiasts looking for unique, made-to-order frames. These brands focus on community engagement, sustainability, and authenticity.
  • State Bicycle Co., a U.S.-based boutique manufacturer, uses an online-first approach and limited-edition releases to attract style-conscious riders and fixie bike fans without the overhead of large retail operations.

Market Report Scope

Bike Market Report Coverage

Market Dynamics

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Global Bike Market Driver – Rising Health and Fitness-conscious Levels of Customers

The significant fitness benefits offered by cycling including improved cardiovascular health, increased muscle strength and flexibility, and weight loss can drive the market growth. It's a low-impact exercise, making it suitable for people of various fitness levels and ages. It can also help with weight management, improved balance and coordination, and even boosts mental well-being.

For instance, The Sundays on Cycle program under the Fit India Movement program was launched on February 16, 2025, under the aegis of the Union Youth Affairs and Sports Ministry. It is a collective effort taken by the government of India to fight obesity levels and promote healthy habits through cycling.

Global Bike Market Opportunity – Sustainable Manufacturing

Sustainable manufacturing of both regular and electric bicycles focuses on using eco-friendly materials, reducing the carbon footprint of production, and promoting responsible practices throughout the lifecycle of the bike. This includes selecting renewable or recycled materials, minimizing waste, and considering the long-term impact of the bike, from its materials to its disposal.

In January 2025, igus launched a new bicycle with components made from 90% recycled plastic. The commitment by the company to reduce carbon emissions and lower plastic wastage can reflect on its production methods in the near future.

Analyst Opinion (Expert Opinion)

• The bike market is poised for transformative growth, driven by shifting consumer priorities and technological innovation. Sustainability initiatives and urban congestion are accelerating adoption, as governments worldwide invest in cycling infrastructure to promote eco-friendly mobility. Health-conscious consumers further bolster demand, viewing cycling as both a fitness solution and a low-cost commute alternative. However, economic headwinds and supply chain complexities pose challenges, particularly for premium and e-bike segments facing affordability barriers in emerging markets.
• Drivers center on environmental awareness, with cities prioritizing bike lanes and subsidies to reduce carbon footprints. E-bikes are gaining traction in developing nations, bridging gaps in last-mile connectivity while appealing to older demographics. Technological integration—such as GPS tracking and app-based rentals—enhances user convenience, fostering loyalty among urban commuters.
• Restraints include persistent competition from micro-mobility alternatives like e-scooters, which offer similar benefits with less physical effort. Regulatory hurdles in some regions delay infrastructure projects, while fluctuating raw material costs squeeze profit margins for manufacturers.
• Opportunities lie in expanding bike-sharing ecosystems, particularly in Europe where Chinese firms are investing heavily in dockless systems. Children’s markets present untapped potential, with initiatives to boost youth ridership through school programs and safer pathways. Lightweight materials and modular designs could democratize access to high-performance models, appealing to casual and enthusiast riders alike.

Market Segmentation

•  Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Mountain Bikes
  • Hybrid Bikes
  • Cargo Bikes
  • Road Bikes
  • Others
• Design Insights (Revenue, USD Bn, 2020 - 2032)
  • Folding
  • Regular
• Technology Insights (Revenue, USD Bn, 2020 - 2032)
  • Electric
  • Conventional
• Distribution Channel Insights (Revenue, USD Bn, 2020 - 2032)
  • Online
  • Offline
• End Users Insights (Revenue, USD Bn, 2020 - 2032)
  • Men
  • Women
  • Kids
• Regional Insights (Revenue, USD Bn, 2025 - 2032)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Garri Bike
  • Merida Industry Co., Ltd
  • Axalko Bikes
  • Dorel Industries Inc.
  • BH Bikes
  • Accell Group
  • Giant Bicycles
  • Avon Cycles Ltd.
  • Atlas Cycles (Haryana) Ltd.
  • Orbea
  • Mammoth Bikes
  • Hagen Bikes
  • Cervelo
  • Trek Bicycle Corporation
  • Egurra Bikes
  • Specialized Bicycle Components, Inc.
  • SCOTT Sports SA
  • TI Cycles of India

Sources:

Magazines:

• Cycling Weekly (Market Trends Section)
• Bicycle Retailer & Industry News
• Electric Bike Action Magazine
• Others

Journals:

• Journal of Transport & Health (Cycling Infrastructure Studies)
• International Journal of Sustainable Transportation
• Transportation Research Part D: Transport and Environment
• Others

Newspapers:

• The Financial Times (Urban Mobility Sections)
• The Guardian (Sustainability & Transport Coverage)
• GlobeNewswire (Market Expansion Announcements)
• Others

Associations:

• World Bicycle Industry Association (WBIA)
• PeopleForBikes (U.S. Advocacy Group)
• European Cyclists’ Federation (ECF)
• Others

Public Domain Sources:

• S. Census Bureau Population & Urbanization Reports
• World Health Organization (Cycling Health Benefits)
• National Government Transportation Portals (Infrastructure Data)
• Others

Proprietary Elements:

• CMI Data Analytics Tool
• Proprietary CMI Existing Repository of Information for Last 8 Years