Men’s Bicycle Market

Men’s Bicycle Market Outlook (2023 to 2033)

The global men’s bicycle market accounts for a revenue of US$ 28.3 billion in 2023 and is forecasted to reach a valuation of US$ 58.4 billion by the end of 2033. Over the next ten years, this Fact.MR study predicts global demand for men’s bicycles to rise rapidly at 7.5% CAGR.

Bicycles have stood the test of time and have managed to stay relevant in the era of internal combustion engine-powered vehicles and electric-powered vehicles. Bicycles are single-track, pedal-driven, two-wheel vehicles that have been used for commuting and transport for over 200 years since the inception of its first iteration in 1817.

Increasing awareness regarding climate change and global warming around the world and implementation of stringent mandates to reduce the environmental impact of the transportation industry on the environment are key prospects that are anticipated to uplift sales of men’s bicycles over the coming years.

Increasing focus on health and fitness owing to the high prevalence of chronic diseases is also anticipated to promote the popularity of cycling among men and women thus, driving men’s bicycle shipments.

The affordable nature of bicycles, increasing costs of fossil fuels, growing involvement of people in outdoor physical activities, rising incidence of lifestyle disorders, and increasing emphasis on sustainability are other key prospects that could augment men’s bicycle demand over the next ten years. Bicycle mainly runs on manually generated force by the rider, which makes them an undesirable means of transportation for long-distance travel, and can hamper market growth to some extent.

The lack of bicycle commuting infrastructure in many countries and the high prices of bicycles made from expensive composite materials are also anticipated to impede sales of men’s bicycles across the forecast period. Electric bicycles and hybrid bicycles are anticipated to gain massive popularity over the coming years and this is expected to open up new avenues of opportunity for established as well as new men’s bicycle companies.

• In July 2021, Toutche, an electric mobility start-up based in India and founded in 2015, announced the launch of its new electric bicycle in the country. Heileo H100 is a hybrid-type electric bike that was built from a 6061 aluminum alloy frame and a 250 W rear hub motor.

Report Attributes	Details
Men’s Bicycle Market Size (2023)	US$ 28.3 Billion
Forecasted Market Value (2033F)	US$ 58.4 Billion
Global Market Growth Rate (2023 to 2033)	7.5% CAGR
Market Share of Hybrid Bicycles (2022)	>30%
Key Companies Profiled	Giant Manufacturing Co. Ltd. Tandem Group plc Dorel Industries Inc. Trek Bicycle Corporation Accell Group N.V. Merida Industry Co. Ltd. Samchuly Bicycle Co. Ltd. Atlas Cycles (Haryana) Limited Youngone Corporation Tube Investments of India Limited

Why are Bicycle Start-ups Swarming Countries Such as India?

“Supportive Government Initiatives for New Companies and Low Operational Costs”

India is a highly remunerative market for all types of bicycles in the Asia Pacific region and is anticipated to maintain this stance over the next ten years as well. Being a developing economy, India has a high demand for affordable and low-cost products such as conventional bicycles that allow people with low incomes to commute in a cost-efficient manner.

India is witnessing rapid industrialization and the government of the country is launching initiatives such as ‘Make in India’ to promote entrepreneurial spirit and strengthen the industrial and commercial landscape of India. Low labor costs and a rising focus on sustainability are also creating an opportune scenario for upcoming men’s bicycle suppliers in the country.

• In September 2022, EMotorad, an electric bike start-up based in India, announced that it would be focusing on expanding its reach in Europe whilst targeting five countries in the region to start with. The company aimed to capitalize on the growing popularity of electric vehicles and a high focus on sustainability in European countries.
• Omobikes, a start-up founded by passionate IITians in India, is providing a platform for customized bikes. The company sells hybrid and electric bicycles for the Indian market and also wants to make OMO bikes synonymous with the Urban Commute scene in the country.

New men’s bicycle vendors are also focusing on raising new capital to fund their expansion efforts and promote cycling in India and other parts of the world.

• In June 2021, MYBYK, an Indian bicycle-sharing company, announced that it had raised US$ 1 million in a pre-Series A funding round that saw participation from Avon Cycles and other investors. The start-up had plans to utilize this financing to expand its business scope, deploy new marketing strategies, and bolster its leadership team.

An elaborative account of trends such as new developments, supply chain management, product standards, global demand, pricing trends, and safety regulations affecting market development has been mentioned in this newly updated men’s bicycle market research study by Fact.MR, a market research and competitive intelligence provider.

Country-wise Insights

What’s Attracting Men’s Bicycle Suppliers to Japan?

“High Use of Bicycle by People of Different Social & Age Groups”

Japan is a highly remunerative market for bicycle manufacturers owing to the high use of bicycles by the Japanese population. People in the country usually use bicycles to commute to train stations that are usually a 15-minute drive or 1.5 miles apart, thus saving time for bicycle riders. Tourists visiting Japan can rent bicycles to tour around and enjoy the scenic parts of the country.

Teenagers, office-going people, and the elderly of all social classes can be seen riding bicycles throughout Japan. The availability of road bicycles, sports bicycles, and mountain bicycles is relatively low compared to the traditional mom’s bicycle which is highly popular in the country. Shimanami Kaido, Asuka, Kyoto, Kibi Plain, and Biei are some popular cycling spots in Japan.

Which Countries Lead Men’s Bicycle Sales in Europe?

“Netherlands, Denmark, Germany, & Sweden to Be Key Countries in Europe”

European countries such as Denmark, Netherlands, and Germany have witnessed a notable rise in demand for bicycles owing to increasing focus on sustainability and growing awareness regarding the same among Europeans. Cycling has been gaining popularity in European countries as a cheap method of transport that allows people to avoid the busy and lengthy commute that other modes of transportation offer.

• As per the statistics listed on the Discerning Cyclist website, the Netherlands leads the bicycle per capita list in Europe while being followed by Denmark, Germany, Sweden, Norway, and Finland.

High focus on health and fitness, growing awareness regarding the benefits of cycling, and implementation of stringent mandates to reduce environmental pollution are other aspects that augment market development in the future. Increasing production of bicycles in the European region to meet surging demand is also projected to create moneymaking opportunities for men’s bicycle manufacturers across the forecast period.

• As per an article published on the eurostat website, an estimated 13.5 million bicycles were manufactured in the European Union in 2021. Portugal accounted for nearly 2.9 million bicycles produced in Europe in the same year.

Sales of women’s bicycles and kids bicycles are also anticipated to witness a hike in the European region. The aforementioned factor is expected to create high demand for bicycle parking racks and bicycle subscription services in the region over the coming years.

Will the United States Be an Investment-worthy Market?

“Sales of Bicycles to Increase Steadily across the Country”

Convenience and affordability of bicycles are key factors that are anticipated to uplift shipments of men’s bicycles in the United States over the next ten years. A high incidence of obesity and other lifestyle disorders is also anticipated to promote demand for bicycles in the country throughout the forecast period. An increasing number of people participating in cycling as a sport are also anticipated to boost sales of sports bicycles, adult bikes, and mountain bikes in the United States going forward.

Category-wise Insights

Which Type of Bicycles Account for Higher Revenue Generation?

“Sales of Hybrid Bicycles to Hold Authoritative Market Share”

Based on vehicle type, the market for men’s bicycles is segmented into road bicycles, sports bicycles, mountain bicycles, and hybrid bicycles.

Hybrid bicycles are suitable for almost all kinds of terrains and paths, which makes them a popular choice among men. Hybrid bicycles are usually made from flexible and agile frames that allow them to be used for daily commute as well as recreational purposes.

• Sales of hybrid bicycles accounted for more than 1/3 revenue share of the global market in 2022.

Increasing use of bicycles for recreation, exercise, transport, and competing in sporting events will also promote the sales of mountain bikes and sports bicycles in the future.

Competitive Landscape

Leading men’s bicycle manufacturers are focusing on launching new bicycles and bicycle accessories to enhance the cycling experience and improve the overall revenue generation potential.

• In March 2023, Acer, a leading name in the technology industry, unveiled the Acer ebii, its first e-bike with artificial intelligence (AI) functionality and a unique design. The aluminum e-bike weighs around 16 kilograms and has a simple yet futuristic design.
• In June 2022, George Nelson, a former designer at Nike, announced the launch of his new cycling apparel company called ‘Kansept1’. The company’s first collection was road/gravel focused and the organization was expected to launch other unique collections in the future.

Key Segments of Men’s Bicycle Industry Research

• By Product Type :

  • Road Bicycles
  • Sports Bicycles
  • Mountain Bicycles
  • Hybrid Bicycles

• By Technology :

  • Conventional
  • Electric

• By Pricing :

  • Low Range
  • Mid-Range
  • Premium Range

• By Distribution Channel :

  • Independent Outlets
  • Direct-to-Customer Institutional Channels
  • Direct-to-Customer Brand Outlets
  • Modern Trade Channels
  • Franchised Outlets
  • Direct-to-Customer Online Channels
  • Third-Party Online Channels

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA