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Bicycle Market Share

Report ID: GMI6748
Published Date: Nov 2024
Report Format: PDF

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Bicycle Market Share

Giant Group, Accell Group, and PON collectively held a substantial market share of over 6% in the bicycle industry in 2024. Giant is expanding its product range and market presence. The acquisition of Stages Cycling strategically positions Giant in the indoor cycling segment, enhancing its overall cycling ecosystem. This move diversifies Giant’s portfolio and leverages Stages' intellectual property and manufacturing facilities, strengthening its reach in both indoor and outdoor cycling markets.

Accell is focusing on operational efficiency and financial stability. By integrating its bicycle, parts, and cargo bike operations into a single platform, Accell aims to streamline operations and reduce costs. The company has also restructured its manufacturing footprint by closing certain European production sites and optimizing output in specialized factories.

Pon is making strategic investments to reinforce its market position. The company has opened a new e-bike factory in Lithuania with an annual capacity of 450,000 units, demonstrating its commitment to the growing e-bike market. Additionally, Pon has invested in innovative technologies like Ziemi’s lighting system, enhancing its product offerings and capturing emerging market opportunities.

Bicycle Market Companies

Major players operating in the bicycle industry are:

Accell Group
BH Bikes
BMC Switzerland
Brompton Bicycle Ltd
Fuji Bikes
Giant Group
Merida Industries
PON Holdings BV
Trek Bicycle
Yamaha Motor

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of bicycle reached USD 66.1 billion in 2024 and is set to grow at a 7.8% CAGR from 2025 to 2034, driven by increasing urban congestion and traffic issues.

The offline segment is expected to exceed USD 90 billion by 2034 due to the essential role of brick-and-mortar bicycle shops in providing expert advice, personalized service, and a wide selection of high-quality bicycles and accessories.

China's market accounted for 60% of the revenue share in 2024, led by urban congestion, environmental concerns, and demand for cost-effective transportation.

The key players in the industry include Accell Group, BH Bikes, BMC Switzerland, Brompton Bicycle Ltd, Fuji Bikes, Giant Group, Merida Industries, PON Holdings BV, Trek Bicycle, and Yamaha Motor.