Bicycle & Components Market Size, Share, Growth and Industry Analysis, By Types (Mountain Bike, Touring Bike, City Bike, Electric Bike, Children Bike, Others), By Applications (Professional sports, Outdoor activities, Home life, Others), Regional Insights and Forecast to 2034

Bicycle & Components Market Size

The Global Bicycle & Components Market size was valued at USD 4604.92 million in 2024 and is projected to reach USD 4747.34 million in 2025. It is further expected to climb to USD 6194.21 million by 2034, exhibiting a CAGR of 3% during the forecast period from 2025 to 2034. This consistent growth reflects a shift toward sustainable mobility, with over 38% of global demand coming from Asia-Pacific and 29% from Europe. Electric bikes now account for more than 35% of sales, and over 31% of consumers prefer bicycles for daily commuting and recreational use.

In the United States, the Bicycle & Components Market is steadily expanding due to growing urban mobility preferences and increased interest in active lifestyles. Approximately 61% of U.S. bicycle sales come from electric and hybrid models. More than 42% of urban commuters are choosing bicycles over cars for short distances. The adoption of high-performance components has also surged by 28% among professional riders and fitness enthusiasts, while online retail contributes to over 37% of total bicycle and accessories sales.

Key Findings

• Market Size: Valued at USD 4604.92M in 2024, projected to touch USD 4747.34M in 2025 to USD 6194.21M by 2034 at a CAGR of 3%.
• Growth Drivers: Electric bicycles hold 35%, city commuting demand increased by 42%, gear system upgrades rose by 28%.
• Trends: Online bicycle sales up 38%, carbon fiber frame usage at 22%, disc brake preference dominates with 45% share.
• Key Players: Giant Bicycle Inc, Accell Group NV, Cannondale Bicycle Corporation, Campagnolo Srl, Derby Cycle Corporation & more.
• Regional Insights: Asia-Pacific holds 38% share driven by manufacturing and e-bike demand. Europe with 29% leads in urban cycling. North America at 22% focuses on fitness commuting. Middle East & Africa, with 11%, grows via infrastructure and tourism support.
• Challenges: Supply chain delays affected 41%, raw material cost up 38%, parts sourcing issues for 33% of manufacturers.
• Industry Impact: 48% shift toward fitness cycling, 34% rise in commuting by bike, 31% invested in smart biking systems.
• Recent Developments: E-bike innovation rose 32%, smart bikes introduced by 29%, packaging sustainability improved by 38%.

The Bicycle & Components Market is evolving rapidly with demand shaped by environmental awareness, consumer fitness trends, and smart mobility integration. Approximately 47% of bicycles sold now include advanced features, while over 50% of new product designs target urban users. Smart features and modular designs are increasingly defining product innovation.

Bicycle & Components Market Trends

The global bicycle and components market is witnessing substantial transformation, driven by urban mobility shifts and environmental awareness. Electric bicycles now account for over 35% of total bicycle demand, while mountain bikes contribute nearly 25% of the market. Among components, gear systems and drivetrains have seen a usage increase of 28% due to rising consumer preference for performance efficiency. Disc brakes dominate 45% of the component demand, replacing traditional rim brakes. Carbon fiber frames are gaining popularity, with 22% market share among performance cyclists. Moreover, online bicycle sales channels witnessed a rise of over 38%, driven by direct-to-consumer models and digital retail integration.

Bicycle & Components Market Dynamics

DRIVERS

"Rising demand for e-bikes and eco-friendly transportation"

Electric bicycles have surged in popularity, contributing to over 35% of total bicycle sales globally. Additionally, over 42% of urban commuters are opting for bicycles due to reduced carbon emissions and rising fuel costs. Component manufacturers have responded with 30% growth in electric-specific drivetrain and battery integrations, supporting sustainability goals.

OPPORTUNITY

"Growth in health-conscious consumer base"

With more than 48% of adults prioritizing physical fitness and active commuting, demand for bicycles has increased significantly. Hybrid and road bike components have seen a 27% rise in production to meet these preferences. Urban cycling infrastructure expansion is also influencing a 33% uptick in lightweight, ergonomic bicycle components.

RESTRAINTS

"High maintenance and repair concerns"

Over 34% of consumers report reluctance to invest in bicycles due to frequent repair needs and part replacements. Traditional bike components, especially in low-cost models, face a 29% higher breakdown rate. Additionally, 31% of urban cyclists cite limited access to reliable repair infrastructure as a reason for declining long-term use.

CHALLENGE

"Rising costs and supply chain disruptions"

Over 41% of component manufacturers face delays due to global raw material shortages and logistic issues. Prices for metal-based parts such as frames and gears have increased by 38%, impacting retail pricing. Meanwhile, 33% of brands report difficulty sourcing critical components, delaying product rollouts and inventory planning.

Segmentation Analysis

The global bicycle and components market is categorized by product type, where consumer preferences, application environments, and urban infrastructure trends play a pivotal role. With an estimated market size of USD 4747.34 million in 2025 and a projected rise to USD 6194.21 million by 2034, this sector is expanding steadily at a CAGR of 3%. The demand varies by type—ranging from city-friendly bicycles to electric bikes favored for assisted mobility. Below is a detailed breakdown.

By Type

Mountain Bike: Mountain bikes dominate rugged and outdoor terrain usage, popular among off-road and adventure cyclists. Their thick tires, durable suspension, and traction control contribute to a high-performance ride in natural trails and mountain zones, accounting for widespread adoption.

Mountain bikes held the largest share in the bicycle market, accounting for USD 1186.83 million in 2025, representing 25% of the total market. This segment is expected to grow at a CAGR of 3.2% from 2025 to 2034, driven by increased mountain biking activities, improved shock absorption technology, and recreational sports popularity.

Top 3 Major Dominant Countries in the Mountain Bike Segment

• United States led the Mountain Bike segment with a market size of USD 325.21 million in 2025, holding a 27.4% share and expected to grow at a CAGR of 3.4% due to strong outdoor culture and mountain trails development.
• Germany followed with USD 229.56 million in 2025, capturing a 19.3% share and a CAGR of 3.1% owing to Alpine tourism and biking festivals.
• France recorded USD 184.78 million in 2025, with a 15.6% share and a CAGR of 2.9% due to government cycling initiatives and off-road cycling routes.

Touring Bike: Touring bikes are designed for long-distance travel and endurance riding. With features like luggage racks, comfortable geometry, and large fuel-less mileage appeal, these bikes are favored by explorers and travel cyclists across international routes.

Touring bikes accounted for USD 759.57 million in 2025, representing 16% of the total market. This segment is projected to grow at a CAGR of 2.7% from 2025 to 2034, driven by global bike tourism, cross-border cycling trends, and rise in adventure enthusiasts.

Top 3 Major Dominant Countries in the Touring Bike Segment

• Germany led with USD 203.08 million, 26.7% share, CAGR of 2.8% due to bikepacking culture and connected European routes.
• Netherlands followed with USD 182.29 million, 24% share, CAGR of 2.6%, boosted by cycle highways and infrastructure.
• Canada stood at USD 151.91 million, 20% share, CAGR of 2.5%, driven by vast cycling trails and domestic adventure travel.

City Bike: City bikes dominate the urban commuting segment due to their simple design, ease of use, and comfort for short-distance mobility. They appeal particularly to working professionals, students, and residents in metro areas.

City bikes are expected to reach USD 997.94 million in 2025, holding a 21% market share, with a projected CAGR of 2.8% from 2025 to 2034. Growth is fueled by urban infrastructure expansion, smart city transport programs, and pollution control mandates.

Top 3 Major Dominant Countries in the City Bike Segment

• Japan led with USD 274.86 million, 27.5% share, CAGR of 3.0% driven by high-density cities and cycling lanes.
• China followed at USD 239.51 million, 24% share, CAGR of 2.7% with rising smart-bike rental services.
• Italy came in at USD 189.60 million, 19% share, CAGR of 2.6% through government incentives and eco-mobility focus.

Electric Bike: Electric bikes are revolutionizing urban transportation with pedal assistance and battery-powered mobility. They are ideal for both long-distance commuting and elder riders seeking low-effort movement, now forming the fastest-growing category.

Electric bikes will dominate with USD 1281.78 million in 2025, capturing 27% of the market. Forecasted to expand at a CAGR of 4.1% from 2025 to 2034, growth is driven by eco-mobility subsidies, rising traffic congestion, and technological innovation.

Top 3 Major Dominant Countries in the Electric Bike Segment

• China leads with USD 412.20 million, 32.2% share, CAGR of 4.3% due to government e-bike programs and urban congestion.
• Germany follows with USD 305.91 million, 23.9% share, CAGR of 3.9% due to green incentives and aging population adoption.
• India shows USD 217.90 million, 17% share, CAGR of 4.2% supported by startup innovations and state e-vehicle policies.

Children Bike: Children bikes are consistently in demand for leisure, education, and sports activities. Safety design, visual appeal, and ergonomic features play a central role in purchase decisions.

Children bikes will generate USD 379.79 million in 2025, holding an 8% market share, and are projected to grow at a CAGR of 2.4% through 2034. Increased parental focus on physical activity and school-based biking programs are key drivers.

Top 3 Major Dominant Countries in the Children Bike Segment

• United States led with USD 118.13 million, 31.1% share, CAGR of 2.6%, supported by youth sports and early mobility training.
• Australia followed with USD 93.29 million, 24.5% share, CAGR of 2.3%, driven by school sports inclusion.
• United Kingdom held USD 81.12 million, 21.4% share, CAGR of 2.2%, via parental health awareness.

Others: The 'Others' category includes folding bikes, BMX, hybrid bikes, and performance-specific models. These bicycles are tailored for specialized use, including compact travel, tricks, and multi-terrain cycling.

Other types are expected to account for USD 142.42 million in 2025 with a 3% market share, growing at a CAGR of 1.9% due to urban minimalism, multi-functional use, and growth in freestyle biking communities.

Top 3 Major Dominant Countries in the Other Bikes Segment

• South Korea leads with USD 39.87 million, 28% share, CAGR of 2.0% through urban mobility needs.
• Mexico follows with USD 34.18 million, 24% share, CAGR of 1.8%, favored by BMX adoption.
• Singapore at USD 27.45 million, 19.3% share, CAGR of 2.1%, driven by smart commuting demand.

By Application

Professional sports: Professional sports applications drive high-end demand for performance bicycles with aerodynamic frames, precision gearing, and lightweight components. These bikes are commonly used in competitive cycling, triathlons, and road racing events globally.

Professional sports held the largest share in the application segment, accounting for USD 1659.56 million in 2025, representing 35% of the total market. This segment is expected to grow at a CAGR of 3.4% from 2025 to 2034, driven by international cycling championships, professional endorsements, and advancements in racing technology.

Top 3 Major Dominant Countries in the Professional Sports Segment

• France led the Professional Sports segment with a market size of USD 483.27 million in 2025, holding a 29.1% share and expected to grow at a CAGR of 3.5% due to Tour de France popularity and competitive infrastructure.
• Italy followed with USD 412.73 million in 2025, holding a 24.9% share and a CAGR of 3.3%, driven by a strong tradition in professional cycling and racing brands.
• Spain recorded USD 359.45 million in 2025, capturing a 21.6% share and a CAGR of 3.2% supported by national races and government funding for sport development.

Outdoor activities: Outdoor cycling is rapidly growing as a recreational and fitness-driven activity. These applications include weekend biking, countryside rides, and cycling tourism, fueling demand for hybrid and mountain bikes.

Outdoor activities accounted for USD 1424.20 million in 2025, representing 30% of the total market. This segment is forecast to grow at a CAGR of 3.1% from 2025 to 2034, supported by fitness trends, eco-tourism growth, and wellness-focused lifestyles.

Top 3 Major Dominant Countries in the Outdoor Activities Segment

• United States led with USD 426.29 million, 29.9% share, CAGR of 3.3%, driven by national park cycling trails and fitness awareness.
• Australia followed with USD 354.29 million, 24.9% share, CAGR of 3.1% due to favorable terrain and cycling clubs.
• Germany posted USD 313.32 million, 22% share, CAGR of 2.9% on account of cycling tourism routes and eco-lifestyle preferences.

Home life: Bicycles used within residential zones for errands, neighborhood commuting, or children's activities fall under home life. The segment includes children’s bikes and casual-use city bikes.

Home life accounted for USD 947.82 million in 2025, representing 20% of the total market. It is projected to grow at a CAGR of 2.6% from 2025 to 2034, driven by rising family purchases, safety-first designs, and community cycling practices.

Top 3 Major Dominant Countries in the Home Life Segment

• United Kingdom led with USD 284.34 million, 30% share, CAGR of 2.7% due to parent-driven bicycle spending and safe cycling campaigns.
• Japan followed with USD 249.10 million, 26.2% share, CAGR of 2.5% through urban lifestyle integration.
• Canada stood at USD 193.17 million, 20.4% share, CAGR of 2.4% supported by family wellness focus and suburb-friendly designs.

Others: This category includes logistics, industrial cycling, delivery services, and niche use cases. The growth is driven by compact folding bikes, courier fleets, and emerging bike-tech integrations in city logistics.

Others segment contributed USD 473.75 million in 2025, making up 10% of the market. This niche is projected to grow at a CAGR of 2.3% from 2025 to 2034, driven by last-mile delivery, micromobility models, and urban congestion reduction efforts.

Top 3 Major Dominant Countries in the Others Segment

• Singapore led with USD 134.16 million, 28.3% share, CAGR of 2.5% due to smart delivery integration and compact infrastructure.
• India followed with USD 118.44 million, 25% share, CAGR of 2.4% through logistics startups and gig-based delivery demand.
• South Korea held USD 96.35 million, 20.3% share, CAGR of 2.2% supported by commercial bike-sharing systems.

Bicycle & Components Market Regional Outlook

The Bicycle & Components Market demonstrates diverse regional dynamics, shaped by infrastructure, economic development, cycling culture, and policy incentives. In 2025, Asia-Pacific will lead with a 38% market share, followed by Europe with 29%, North America at 22%, and Middle East & Africa at 11%. These shares reflect growing urban mobility, e-bike adoption, and recreational activities across global regions.

North America

North America is experiencing significant traction in the bicycle and components sector due to fitness-focused consumers, urban commuting, and electric bike popularity. The demand is particularly strong in the U.S. and Canada, where over 31% of urban residents prefer cycling over cars for short distances. Technological upgrades and direct-to-consumer models are enhancing market penetration.

North America held the third-largest share in the global market, accounting for USD 1044.41 million in 2025, representing 22% of the total market. This segment is projected to grow steadily, driven by active lifestyle trends, eco-conscious transportation, and federal biking infrastructure initiatives.

North America - Major Dominant Countries in the Bicycle & Components Market

• United States led the North America segment with a market size of USD 637.59 million in 2025, holding a 61% share, driven by electric bike sales and recreational cycling parks.
• Canada followed with USD 301.90 million, 28.9% share, supported by urban cycling zones and government incentives.
• Mexico stood at USD 104.92 million, 10.1% share, driven by expanding commuter cycling and youth demand.

Europe

Europe is at the forefront of the global bicycle market with extensive bike lane infrastructure, public bike-sharing systems, and sustainable commuting policies. Cities across Germany, Netherlands, and France have integrated cycling into their transport systems. Over 43% of urban dwellers in key European capitals rely on bicycles for everyday mobility.

Europe held the second-largest share, accounting for USD 1376.73 million in 2025, representing 29% of the global market. The segment benefits from tourism cycling, advanced manufacturing, and public sector collaboration for environmental transport reforms.

Europe - Major Dominant Countries in the Bicycle & Components Market

• Germany led with USD 481.86 million in 2025, 35% share, backed by premium bike brands and eco policies.
• Netherlands followed with USD 395.25 million, 28.7% share, driven by urban cycling culture.
• France recorded USD 299.62 million, 21.8% share, due to sporting events and regional subsidies.

Asia-Pacific

Asia-Pacific dominates the bicycle market with a broad base of manufacturers and rapidly urbanizing cities. China and India lead in both production and domestic consumption. Over 51% of bicycles sold in this region are now electric-assisted, and rising middle-class incomes continue to accelerate demand for performance and commuter bikes.

Asia-Pacific held the largest market share, accounting for USD 1803.99 million in 2025, representing 38% of the global market. Key drivers include smart city initiatives, traffic decongestion policies, and youth-driven fitness movements.

Asia-Pacific - Major Dominant Countries in the Bicycle & Components Market

• China led with USD 855.88 million, 47.4% share, driven by massive manufacturing hubs and urban mobility reforms.
• India followed with USD 558.03 million, 30.9% share, fueled by growing health awareness and domestic production.
• Japan stood at USD 390.08 million, 21.6% share, supported by technology-integrated bikes and eco-transit solutions.

Middle East & Africa

The Middle East & Africa region is showing emerging interest in bicycles and components, led by the UAE and South Africa. Factors such as rising youth activity, urban transport reform, and cycling tourism are shaping market behavior. Fitness parks, bike racing events, and government advocacy are accelerating adoption in key cities.

Middle East & Africa accounted for USD 522.21 million in 2025, representing 11% of the total market. Key growth contributors include lifestyle changes, infrastructure investment, and regional health awareness campaigns.

Middle East & Africa - Major Dominant Countries in the Bicycle & Components Market

• United Arab Emirates led with USD 198.44 million, 38% share, backed by cycling marathons and smart city transit plans.
• South Africa followed with USD 173.33 million, 33.2% share, supported by sports development and bike-friendly zones.
• Saudi Arabia held USD 150.44 million, 28.8% share, driven by fitness initiatives and tourism diversification strategies.

List of Key Bicycle & Components Market Companies Profiled

Investment Analysis and Opportunities in Bicycle & Components Market

The bicycle and components market is attracting increased investment, driven by evolving urban mobility trends and consumer preferences. Around 47% of private equity in the sector is directed toward electric bicycle manufacturing. Over 33% of companies are expanding production facilities to meet rising demand across Asia-Pacific and Europe. Nearly 29% of investment is channeled into digital transformation and direct-to-consumer logistics. Furthermore, 38% of manufacturers are focusing on sustainability with the integration of recyclable components and green packaging. The increasing investment in lightweight materials and battery technologies opens new doors for innovation. Around 26% of global bike companies are also acquiring smaller brands to diversify product offerings.

New Products Development

New product development is shaping the competitive landscape of the bicycle and components market. Over 41% of companies introduced electric-assisted bicycles in their 2024 lineup. Around 34% of product launches focused on lightweight carbon-fiber frames and integrated smart tech like GPS, anti-theft locks, and app-based controls. Approximately 23% of new models included modular drivetrains and gear systems adaptable for hybrid and city use. Manufacturers reported that 36% of consumers are now demanding multi-purpose bikes with foldable and off-road compatibility. More than 28% of premium launches are targeting youth and female cyclists with ergonomic and aesthetic customization. Product differentiation and constant innovation are becoming key to market growth.

Recent Developments

• Accell Group NV expanded e-bike production: The company increased its e-bike manufacturing capacity by 32% to meet growing demand in European and North American cities, supported by digital customization tools and predictive maintenance software.
• Giant Bicycle Inc launched hybrid fitness bikes: With a 29% surge in hybrid category interest, Giant introduced a new range focused on commuters and fitness riders, featuring connected sensors and alloy body frames.
• Campagnolo Srl upgraded drivetrain systems: The Italian manufacturer announced a 25% efficiency improvement in new mechanical drivetrains, aiming at high-performance road bikes used in racing and triathlon circuits.
• Derby Cycle Corporation partnered with mobility startups: Around 22% of its 2024 budget was allocated to partnerships with mobility platforms, targeting last-mile delivery solutions and rental fleets in urban zones.
• Cycleurope AB launched eco-smart packaging: In response to sustainability efforts, the firm reduced plastic packaging by 38%, introducing biodegradable alternatives across its distribution channels to align with green transport policies.

Report Coverage

The bicycle and components market report offers comprehensive coverage of the industry landscape, capturing regional and global trends, emerging technologies, market drivers, and consumer behavior. The report analyses key segments by type, application, and geography, reflecting over 85% of total market volume across electric bikes, mountain bikes, and city bikes. It identifies more than 40% of demand concentrated in urban commuter segments and outlines product-level advancements like modular drivetrains and IoT-enabled components. The study includes insights into over 10 major global manufacturers and tracks investment behavior, revealing that 31% of funds are flowing into smart cycling infrastructure. Supply chain analysis highlights that 37% of parts are outsourced, particularly from Asia-Pacific. In terms of competitive landscape, the top five brands account for over 52% of market control, while smaller players dominate niche and regional spaces. The report also reviews pricing structures, with nearly 22% of consumers showing preference for mid-tier models. Retail evolution is another focal point, with 39% of sales occurring through online platforms. The findings provide strategic direction for stakeholders, supported by visual data, company profiling, and macroeconomic impact analysis.