Bicycle Industry Statistics 2024 – By Country, Region, Type, Habits and Gender

Introduction

Bicycle Industry Statistics: Looking into the cycling industry’s statistics can reveal an evolving and changing market. The global market for bicycles has been experiencing significant growth in recent times, the data paints a convincing image of the booming sector. According to reports from recent years, the market for bicycles worldwide is predicted to reach a value of 82.2 billion US dollars by 2027, demonstrating the immense economic value of the sector.

In addition, the market has experienced an increasing demand and increase of 5.3% from 2020 until 2027. The increase in demand is driven by numerous factors, including the rise of environmental awareness, an increasing emphasis on fitness and health, and the increasing popularity of alternative forms of transportation.

When we look deeper into the industry of bicycle data, it becomes clear that bicycles aren’t only a mode of transportation for leisure, and are being increasingly embraced as viable and sustainable methods for urban transportation. By analyzing these data, we can get valuable insight into consumer habits and trends in the market, as well as potential growth opportunities within the cycling business.

Editor’s Choice

• As a market research analyst, it’s evident that Trek e-bike stands out as the most popular brand in the United States of America, reflecting the strong consumer preference for electric bicycles.
• Riding a bicycle in the European Union yields substantial economic benefits, amounting to approximately 150 million euros, underscoring the significance of cycling as a mode of transportation.
• By 2029, the global cycling industry is slated to be worth USD 127 billion.
• China is the world’s biggest producer of bikes. In 2020 the country produced 116 million bikes.
• The bicycle manufacturing industry churns out a staggering 364,000 bicycles per day, highlighting the high demand for bicycles worldwide.
• American consumers exhibit a significant investment in bicycle accessories and equipment, with an average annual expenditure totaling approximately 903 million USD.
• The global sales of bicycles reached 60 billion USD in 2021, with a projected CAGR of 8% expected to propel the market value to 138 billion USD by 2032, signaling substantial growth opportunities within the industry.
• The projected global sales of e-bikes in 2023 are estimated to reach 40.3 million units, showcasing the rising popularity of electric bicycles in the global market.
• The Asian bicycle industry is forecasted to reach a market value of 23.75 billion USD in 2023, demonstrating the region’s significant contribution to the global bicycle market.
• In the United States of America, 870,000 individuals commute to work by bicycle, accounting for approximately 0.6% of the overall population, indicating the growing adoption of cycling as a means of transportation.
• Female representation in cycling is noteworthy, with an average ratio of one female rider for every three male riders, reflecting the diverse demographics of bicycle enthusiasts.
• The revenue of the bicycle industry is estimated to be around 6.9 billion USD, highlighting the economic significance of the industry on a global scale.
• Ebike market sales experienced an impressive growth rate of 240% between 2020 and 2021, showcasing the surging demand for electric bicycles.
• The sale of bicycles in 2022 reached between 17-20 million units, indicating sustained consumer interest and market demand for bicycles.
• The United States bike industry is projected to witness a healthy CAGR of 6.12% from 2022 to 2027, underlining the industry’s steady growth trajectory in the coming years.

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Facts About The Bicycle Industry

• The global bicycle industry is valued at approximately 60 billion USD in 2021.
• Sales of e-bikes are projected to reach 40.3 million units globally in 2023.
• In the United States, 870,000 people commute to work by bicycle, constituting about 0.6% of the population.
• The Asian bicycle industry is expected to reach a market value of 23.75 billion USD in 2023.
• Trek e-bike stands as the most popular brand in the United States.
• Copenhagen has five times more bicycles than cars.
• Approximately 364,000 bicycles are produced worldwide every day.
• Female bicycle riders represent one-third of the total ridership.
• The bicycle industry’s revenue is estimated to be around 6.9 billion USD.

What Is The Bicycle Industry?

The bicycle industry includes bicycles and cycling. In broader terms, it includes bicycle manufacturers, distributors, retailers, bicycle organizations, bicycle even promoters, accessories, and equipment manufacturers. The global bicycle industry has already become a billion-dollar industry. There are various types of bicycles around the world such as Folding bikes, women’s and men’s bikes, electric bikes, touring bikes, gravel road bikes, mountain bikes, road bikes, and hybrid/ commuter bikes.

Benefits of Cycling

• Cycling provides overall exercise to the body.
• Decreases depression and anxiety.
• Improves strength of legs.
• Create improved body posture.
• Increases strength of the bones
• Reduces the risks of heart disease, diabetes, and cancer
• Improves mental strength and improves brain power.
• Reduced obesity and fat levels in the body.
• Manages existing health issues in order.
• Reduces cholesterol.
• Cycling is environmentally friendly.
• Cycling does not require any huge investments.

General Bicycle Industry Statistics

• The global market value of cycling accessories and apparel is forecasted to reach $9,529.1 million by the year 2027.
• In the year 2021, the global sales of bicycles recorded a market value of $60 billion, whereas it is expected to grow at a CAGR of 8% reaching $138 billion by the year 2032.
• According to Bicycle industry statistics, daily, 3,64,000 bicycles are manufactured.
• In the United States of America, there are 52 million bicycle riders.
• On average, Americans spend around $903 million on accessories and equipment for bicycles.
• The average price of overall manufactured bicycles is between $100 to $300.
• In the United States of America, there are more than 200 bicycle brands.
• There are more bicycles in Copenhagen than overall residents.
• There are around 9,00,0000 bicycle riders in New York who ride regularly.
• On average, there is one female bicycle rider for every three male riders.
• Riding a bicycle in the European Union can provide economic benefits resulting in 150 million euros.
• In Italy, there are 1267 bicycling clubs as recorded by the bicycle industry.
• There are 5X more bikes than cars in Copenhagen.

By Country

(Reference: Bicycle-Guider)

• As of 2021, the highest number of specialized brands that get stolen is recorded at 28.20%.
• Trek bicycles registered the stolen reports by 17%.
• Giant Bicycles and Carrera were stolen at the rate of 14.40% and 8.80% respectively.
• Ridgeback bicycles have a stolen recorded report at 8% as of 2021.

(Reference: GroundReport)

• The above chart provides information on countries with the highest number of Bicycle users. In the Netherlands, there are 16,500,000 bicycles which is 0.99% per person in comparison to the country’s population of 16,652,800.
• Denmark has 4,500,000 bikes which are 0.81 per person.
• Other countries on the list of the highest number of bicycles per person are Germany 0.75 (62,000.000), Sweden 0.75 (6,000,000), Norway 0.61 (3,000,000), Finland 0.60 (3,250,000), Japan 0.57 (72,540,000), Switzerland 0.49 (3,800,000), Belgium 0.48 (5,200,000), and China 0.37 (500,000,000)

(Reference: Worlds Top Exports)

• According to the Bicycle industry statistics, in the year 2021, China exported around 40.8% of the bicycles resulting in$5.2 billion of revenue by ranking in the top place of the top 10 countries with the highest number of bicycles exported.
• Taiwan exported around 10.6% earning a revenue of $1.3 billion.
• Whereas Netherlands and Germany exported around 7.7% and 6.1% resulting in a revenue of $973.8 million and $774.8 million respectively.
• Similarly, in the year 2021, Cambodia gained a revenue of $630.7 million by recording an export of 5%.
• Other countries that ranked in the list of the highest number of bicycle transports are Portugal 2.9% ($364.1 million), Italy 2.8% ($347.5 million), Indonesia 1.8% ($225.1 million), Belgium 1.8% ($225.4 million), Spain 1.8% ($224.1 million), Bulgaria 1.5% (186.4 million), Poland 1.4% ($182.8 million), France 1.3% ($170.2 million), Vietnam 1.3% ($161.5 million) and Bangladesh 1.3% ($159.1 million).

• As of 2022, Bicycle Industry statistics say that Utrecht city has a 77.84 score out of 100 for being the world’s most bicycle-friendly city.
• Munster has a 65.93 score whereas Antwerp has a 60.51 score out of 100.
• Copenhagen recorded 60.46 and Amsterdam 60.24 of score in the world’s most bicycle-friendly cities list.
• Other countries in a similar list have scored Malmo (55.88), Hangzhou (52.55), and Bern (48.76).

• As per the Bicycle Industry statistics, in the year 2021, the top-ranked country in which people used their bicycle for commuting more than twice a week is the Netherlands resulting in 58%.
• There were 36% of people who used bicycles for transportation more than twice a week in Germany and India respectively.
• Other countries that contributed to bicycling transformation are as follows: Sweden (31%), Finland (30%), Brazil (29%), Switzerland (28%), Italy (26%), China (25%), Spain (24%), Russia (22%), France (18%), Canada (17%), United Kingdom (15%), South Africa (14%), and United States of America (13%).

By Type

• Trek e-bike is the most popular brand in the United States of America.
• As of 2021, mountain bikes recorded the highest number of global sales with 29% of the overall share.
• Similarly, road bikes ranked second with 27% of the overall global sales as of 2021.
• The projected global sales of e-bikes in the year 2023 is 40.3 million.
• The overall sales of e-bikes in China are 41 million.

(Reference: GroundReport)

• Around the globe, there are 40% of people utilize electric or traditional types of bicycle while the remaining prefer mopeds (16%), e-kick scooters (12%), and 31% prefer other types of transport.
• In China and Italy, there are 49% of bicycle users while the remaining are allotted as 31% and 19% Moped, 6%, and 13% e-kick scooters, and 14% and 19% have various types of transport.
• There is 41% of cyclists in France while 42% belong in Germany.
• The United States of America and the United Kingdom share the same number of cyclists resulting in 32%.
• E-bike sales recorded a growth by 240% increase in sales in the year 2021.

• Considering the global market for electric bicycles, the projected revenue is around $53.5 billion by the year 2027.
• As of 2021, the e-bicycle market revenue was $26.73 billion.

By Region

Europe

• As of 2023, the revenue of the Bicycle segment is expected to grow by $23.02 billion.
• According to the Bicycle industry statistics, the unit sales in the bicycle segment are projected to reach 30,159,26K by the year 2027.
• By the year 2023, the weighted average price of the Bicycle segment is expected around $0.79K.

Africa

• The Bicycle segment in Africa is expected to reach $3 billion by the year 2023.
• The unit sales in the same region are expected to reach 28,741.83K by the year 2027.
• The weighted average price in the year 2023 is expected around $112.60.
• The revenue is expected to reach 3.38 billion with an annual growth rate of a CAGR of 3.05% by 2027.

Asia

• The Asian Bicycle industry is expected to reach $23.75 billion in the year 2023.
• The weighted average price as per the Bicycle Industry statistics in the year is projected at $132.90.
• It has been projected that the highest number of revenue will be projected from the Chinese region resulting in $12,640 million by the year 2023.
• The expected market value of the Bicycle segment is $32.66 billion by the year 2027.

Americas

• America’s bicycle market segment is expected to reach $9.45 billion in the year 2023.
• The overall sales in the American market are expected to reach 29,98.12K by the year 2027.
• The average price of the bicycle segment is projected at $324.90.
• As per the Bicycle industry statistics, the market is expected to grow by a CAGR of 3.62% by the year 2027 at $10.89 billion.

By Demographic

(Source: zippia.com)

• The Bicycle industry statistics say that there are all kinds of ethnic backgrounds people who ride cycles every day.
• Around the world, on average there are 78% of white people ride bicycles at regular intervals.
• On the other hand, 7.2% belong to Hispanic or Latino background people.
• 8% of the cyclists are black or African American background population.
• There are 3.% Asian cyclists, while only 0.4% are Alaska Native or American Indian.
• There are 3.7% of people who have not revealed their ethnic background but ride their bicycles on a regular level.

(Source: zippia.com)

• As per the Bicycle industry statistics, the cycling industry is dominated by males around the world.
• There are around 71.6% of male bicycle riders while 28.4% are female bike riders.

By Habits

• In the United States of America, 8,70,000 people go to work on bicycles resulting in 0.6% of the overall population.
• 29% of adults wear helmets while cycling.
• There are 6% of cyclists in the United States of America use shared bicycles several times every week.

By Reasons

(Source: ebicycles.com)

• As of 2021, the maximum number of people preferred e-bikes. The above chart explains the common reasons for choosing an e-bike for riding.
• Maximum people said e-bikes can replace car trips while others said they chose e-bikes because of the hills.
• Some people love e-bikes because it is easy to ride and can increase fitness.
• Few e-bike lovers said they wanted it because of their medical condition while others said they wanted to keep up with the trend.

By Purchase Methods

(Source: Bicycle Guider)

• According to the Bicycle industry statistics, in the year 2021, 35.6% bought their e-bikes online.
• While 37.1% of the people went to specialty e-bike shops to purchase an e-bike.
• And the remaining 18.6% of people went to standard bicycle shops.

Bicycle Market Trends

An Increasing Count of Cycling Events

• The increased use of bicycles for recreation and trekking and the increasing number of cycling events are expected to increase the demand for general as well as sports bikes. The growing impact of celebrity endorsements as well as the increasing media coverage of these events is expected to increase the market for bicycles.
• For example, in an investigation conducted by the Allgemeiner Deutscher Fahrrad-Club (ADFC) in Germany in 2022, approximately 96% of the respondents had their bicycles. Additionally, several governance organizations within European countries, including Cycling Ireland, promote road racing, leisure touring and biking, track racing, and off-road racing.
• As per the Irish Sports Council, Sport Ireland’s investment in Cycling Ireland increased from USD 518.40 thousand in 2021 to a thousand dollars in 2022. The goal was to encourage consumers to engage in a variety of cycling events in Ireland. The primary goal of the event was to promote awareness of cycling and to increase the number of cyclists in cities. These awareness campaigns can also help boost the development of the market that is being studied. Furthermore, international sporting events, like cycling championships, can also promote the participation of individuals who are interested in bicycle riding and are predicted to spur the growth of the market. Source:

(Source: mordorintelligence.com)

Recent Developement of  Bicycle Industry

• The bicycle industry witnessed a significant surge in sales, with between 17-20 million bicycles sold in 2022, indicating sustained consumer interest and market growth.
• Ebike market sales experienced exponential growth, increasing by 240% between 2020 and 2021, reflecting the rising popularity of electric bicycles among consumers.
• The United States bike industry is projected to maintain a healthy Compound Annual Growth Rate (CAGR) of 6.12% from 2022 to 2027, signaling continued expansion and opportunities for industry players.
• Innovative advancements in bicycle technology and design have led to the introduction of new product lines and features, catering to evolving consumer preferences and enhancing overall market competitiveness.
• Investments in infrastructure and government initiatives promoting cycling as a sustainable mode of transportation have contributed to the industry’s growth trajectory, fostering a conducive environment for market expansion and development.

Conclusion

In conclusion, the bicycle industry continues to demonstrate robust growth and significant potential as a sustainable mode of transportation and leisure activity. With global sales reaching 60 billion USD in 2021 and projected to grow at a Compound Annual Growth Rate (CAGR) of 8%, the market is poised to surpass 138 billion USD by 2032.

The surge in popularity of e-bikes is evident, with projected sales of 40.3 million units in 2023, showcasing a shift towards eco-friendly transportation solutions. Moreover, the United States bike industry is forecasted to maintain a healthy CAGR of 6.12% from 2022 to 2027, highlighting sustained market expansion and consumer demand.

Investments in infrastructure, technological innovation, and government support are driving forces behind the bicycle industry’s growth trajectory. With increasing awareness of environmental sustainability and health consciousness, bicycles are poised to play a pivotal role in shaping urban mobility and lifestyle choices in the years to come.

Barry Elad

Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.

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