Bicycle Market Size

Bicycle Market Size

The global bicycle market size was valued at USD 66.1 billion in 2024 and is projected to grow at a CAGR of 7.8% between 2025 and 2034. Bicycles address traffic congestion, parking issues, and public transportation limitations in many cities. Particularly in densely populated areas, bicycles offer a convenient and time-efficient commuting option where car mobility is challenging.

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For instance, the 2023 Bureau of Transportation Statistics report reveals that U.S. drivers lost 42 hours to traffic congestion, equating to USD 733 in lost time. Traffic congestion cost the U.S. over USD 70.4 billion in 2023, a 15% increase from 2022. The report also notes that the return to office post-Covid has impacted various transportation modes. As the demand for efficient and space-saving transportation grows, the market is emerging as a viable alternative to traditional vehicles.
 

The increasing emphasis on active lifestyles, regular exercise, and personal wellness has boosted bicycling's popularity as a low-impact cardiovascular activity. Consumers are integrating cycling into their fitness routines, recognizing its benefits for cardiovascular health, muscle strengthening, and weight management. This focus on health and accessible physical activity has driven demand in the market.