Bicycle Market Size, Share, Growth Analysis, By Product Type(Mountain, Hybrid, Road, Cargo), By Distribution Channel(Online mode, Offline Mode), By Technology(Electric, Conventional), By End-users(Men, Women, Kids), By Region - Industry Forecast 2024-2031

The bicycle industry's largest and fastest-growing area is Asia-Pacific. Some of the top nations in the area are China, Japan, Australia, India, and South Korea. Additionally, these nations have begun to stage a lot of cycling competitions, which can boost interest in and demand for sports bicycles. For instance, since 1963, the Asian Cycling Championships have been an annual continental competition for road and track cycling that is only open to Asian cyclists who are chosen by the national governing bodies of the participating nations. The demand for bicycles in the area is projected to increase as a result of factors including the rise in women's participation rates and government efforts. Bicycle manufacturers are introducing cutting-edge bicycles and accessories as a result of the growing demand, which is anticipated to fuel the market's expansion throughout the forecast period.

Some of the cities that are deemed perfect for bicycle commuting are found in Europe. Europe also hosts some of the most well-known cycling competitions, including the Tour de France and Ronde van Vlaanderen. Belgium, Denmark, France, and Italy are vigorously building the infrastructure to support and promote bicycle commuting, and they are making a big contribution to the expansion of the local market.