Bicycle Market Size

Bicycle Market size was over USD 89.25 billion in 2024 and is set to cross USD 290.98 billion by the end of 2037, witnessing more than 9.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of bicycle is estimated at USD 96.18 billion. The rising usage of bicycles for traveling, as well as their numbers globally, can be contributed to the number market's rise. As per an estimation, there were over 2 billion bicycles in use around the world in 2015 which is forecasted to reach near 5 billion by 2050. Furthermore, the rising government emphasis on spending on the development of cycling infrastructure would accelerate the adoption of bicycles among the general public. Almost all industrialized economies are investing a lot of money into constructing innovative cycling tracks and carrying out several projects involving bicycle and pedestrian infrastructure. For instance, domestic establishments in Ireland announced a 2021 investment in new services for bikes and pedestrians; the financing was about three times greater than the allocated funds for urban transit.

With the rising traffic congestion and shortage of parking space, particularly in metropolitan cities, the use of bicycle is gradually increasing. Bicycle commutation for short distances save time and also have several other benefits, including health & environment. Various governments are rolling out the programs, infrastructure and initiatives necessary to support bicycle commutation, to encourage people to opt for bicycles. The demand for bicycles is on the rise amongst the children, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global bicycle market during the forecast period. For instance, there are twice as many bicycles as automobiles in the world. As per 2020 statistics, in England, the proportion of children who owns bicycle in the age group of 5-10 year was 50% higher than the proportion of bicycle-owners in the age group of 40-49 years.