Sports Bicycles Market Size - By Technology (Electric, Traditional), By Product (Mountain Bicycles, Cyclo-Cross Bicycles, Road Racing Bicycles, Track Racing Bicycles), By End User (Men, Women, Kids), By Sales Channel (Online, Offline) & Forecast, 2024 - 2032

Sports Bicycles Market Size

Sports Bicycles Market size was valued at USD 13.5 billion in 2023 and is estimated to register a CAGR of over 7.5% between 2024 and 2032. The growing interest in cycling as a sport is driving the market growth. As cycling has grown more competitive, bikers are looking for bikes that are finely tuned for certain disciplines. Popular cycling competitions & professional teams have established a strong link between high-performance bicycles and success. Observing top cyclists using specific brands ignites demand among amateur riders for those same bikes.
 

For instance, in October 2023, Lees-McRae College introduced a new course of cycling studies as a minor subject offering classes that prepare students to make cycling more accessible as a sport and mode of transportation. It provides students with an academic foundation addressing cycling advocacy, design, development, and history and also prepares them for a future in the contribution and promotion of cycling preservation as both a sport and a leisure pursuit. This demonstrates the growing interest in cycling as a sport which in-turn is driving the overall sports bicycles market.
 

The increased government initiatives to promote cycling are fueling the adoption of sports bicycles. Governments around the world are investing in safe & separated bike lanes, encouraging people to use bicycles for transportation and recreation. This translates into demand for bicycles, particularly the ones designed for urban riding such as hybrids or urban commuters. Furthermore, government-funded bicycle trails & networks provide beautiful and convenient routes for leisure cyclists. This increase in recreational cycling supports the demand for a variety of sports bicycles, including road bikes, mountain bikes, and touring bikes, depending on the topography of the trails.
 

Government campaigns that encourage cycling frequently highlight it as a sustainable means of transportation that reduces traffic congestion and carbon emissions. This environmentally conscious approach inspires individuals to prefer riding, leading to a demand for sports bicycles for commuting and running errands.
 

For instance, in September 2023, the UK government announced a USD 75.3 million investment to transform the school run for 2 million children. The plan supports initiatives to increase active and safe travel to school, such as Walk to School Outreach, School Streets, and Bikeability. The funding is being used to expand Bikeability cycle training to a million more young people, support walk-to-school programs aimed at hundreds of thousands of children in schools across England and extend Cycling UK’s Big Bike Revival program to March 2025.
 

The high cost of high-performance sports bicycles is a major challenge for the sports bicycles market, potentially slowing down its growth. The high cost can be a significant barrier to entrance for new cyclists, especially those who are just getting started or who ride casually. This reduces the total market size by pricing many prospective customers out of the high-performance sector. Also, the high expense of cycling might make the activity appear elite or inaccessible to the public. This impression deter future players and impede the overall growth of cycling as a sport, lowering the demand for high-performance sports bicycles.
 

Sports Bicycles Market Trends

The sports bicycles industry has witnessed significant technological advancements. Innovative gear-changing methods, such as electronic shifting, allow smoother and more accurate gear changes. This enables cyclists to maintain the ideal pedaling rhythm for maximum efficiency and power transmission. For mountain bikes and gravel bikes, technological developments have resulted in more complex suspension systems that provide better control and comfort on uneven terrains, allowing riders to push their boundaries and explore more difficult tracks.
 

Aerodynamic developments on road bikes reduce wind-resistance, allowing riders to go faster with less effort. This is essential for both competitive riders and serious fans. Seatpost designs, ergonomic handlebars, and enhanced shock absorption systems increase long-distance comfort, lowering fatigue and encouraging riders to spend more time on their bikes.
 

For instance, in November 2023, Rotwild unveiled the R.X1000 and R.C1000 e-bikes with innovative gearbox units and a 960Wh battery. The R.X1000 is an electric mountain bike (E-MTB) designed for off-road adventures, featuring a classic mountain bike design with 150mm suspension travel and a sturdy build. On the other hand, the R.C1000 is an e-crossover bike suitable for everyday movement and off-road riding, equipped with mudguards, a luggage rack, an integrated lighting system, and other features for a smooth & safe ride.
 

Sports Bicycles Market Analysis

Based on technology, the market is divided into electric & traditional. In 2023, the traditional segment accounted for a market share of over 70% and is expected to reach over USD 17 billion by 2032. Traditional bicycles are substantially less expensive than more technologically advanced rivals such as e-bikes or ones with integrated electronics. Owing to their low cost, they are available to a broader spectrum of riders, particularly beginners and budget-conscious bikers.
 

Traditional bicycles require less maintenance owing to their simpler design and fewer components. This is a significant advantage for casual riders or people who are not comfortable working with complex mechanical systems. Along with this, traditional bicycles exist in a variety of types, including road bikes, mountain bikes, hybrids, and touring bikes, each designed for a distinct riding style and terrain.
 

Based on product, the sports bicycles market is categorized into mountain bicycles, cyclo-cross bicycles, road racing bicycles, and track racing bicycles. The mountain bicycles segment accounted for around 44% of the market share in 2023. Unlike road bikes, which are confined to flat pavement, mountain bikes can be used on paved roads, gravel walks, off-road trails, and even mild jumps. This adaptability appeals to a broader spectrum of riders and riding types, from casual fitness enthusiasts to adventurers. Mountain biking benefits from the increased interest in outdoor activities such as hiking, camping, and exploring nature. They let riders visit wonderful areas and experience the excitement of off-the-beaten-path excursions.
 

Asia Pacific held a major share of around 50% in the global sports bicycles market in 2023. Cycling is growing in popularity as a sport and recreational activity across Asia Pacific. This trend is being driven by increased health-benefit knowledge, rising disposable incomes, and a focus on environmental sustainability. Many governments in the region are actively supporting cycling by developing cycling infrastructure, hosting cycling events, and providing bicycle purchase incentives. This promotes a better atmosphere for bike engagement. Furthermore, Asia Pacific has a large bicycle manufacturing base. This encourages design & technological innovations, resulting in a broader selection of sports bicycles at a variety of prices.
 

The U.S. is a hub for bicycle innovation, with leading manufacturers and brands constantly pushing the boundaries of design and technology. Advanced materials, components, and features enhance the performance, comfort, and versatility of sports bicycles, appealing to enthusiasts and recreational riders seeking cutting-edge equipment.
 

France attracts millions of cycling tourists each year, drawn by its famous cycling routes, historic landmarks, and scenic landscapes. From cycling holidays in Provence to challenging climbs in the Alps, cycling tourism drives demand for sports bicycles and cycling-related services, benefiting local economies and businesses.
 

The UAE hosts various cycling events, races, and competitions throughout the year, attracting local and international participants. Events such as the Dubai Tour, Abu Dhabi Tour, and Al Wathba Cycle Race Series showcase the country's commitment to promoting cycling and driving interest in sports bicycles among enthusiasts.
 

Sports Bicycles Market Share

Giant Manufacturing Co., Ltd., and Trek Bicycle Corporation hold a significant market share of over 10% on the sports bicycles industry. Giant Manufacturing Co., Ltd. forms strategic partnerships and sponsorships with professional cycling teams, events, and athletes. By associating with high-profile riders and competitions, Giant enhances brand visibility and credibility in the cycling community. These partnerships also provide valuable feedback for product development and help Giant stay connected with consumers.
 

Trek Bicycle Corporation expands its retail footprint by opening branded retail stores and partnering with independent bike shops worldwide. They focus on providing premium retail experience, knowledgeable staff, and personalized service to enhance customer satisfaction and loyalty. By investing in retail expansion, Trek increases the accessibility and visibility of its products in key markets.
 

Sports Bicycles Market Companies

Major companies operating in the sports bicycles industry are:

• Bianchi
• Cannondale Bicycle Corporation
• Cube Bikes
• Giant Manufacturing Co., Ltd.
• GT Bicycles
• Jenson USA
• Merida Industry Co., Ltd.
• Scott Sports SA
• Specialized Bicycle Components, Inc
• Trek Bicycle Corporation
   

Sports Bicycle Industry News

• In April 2024, Michelin partnered with the Whoop UCI Mountain Bike World Series as a main partner for the next five seasons. The partnership aims to enhance the reputation of the series and promote the development of mountain biking. Michelin will serve as the official tire of the series, providing high-quality tires for the athletes and contributing to the overall success of the events.
   
• In February 2024, Giant Bicycles partnered with Dick's Sporting Goods, America's largest sports department store, to bring Giant bikes to 25 stores across the U.S. This collaboration marked a significant move for Giant, the world's largest seller of bikes by volume, to enhance its market presence and introduce its brands to new consumers.
   

The sports bicycles market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and Shipments (Units) from 2021 to 2032, for the following segments:

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Market, By Technology

• Electric
  • Mountain bicycles
  • Cyclo-cross bicycles
  • Road racing bicycles
  • Track racing bicycles
• Traditional
  • Mountain bicycles
  • Cyclo-cross bicycles
  • Road racing bicycles
  • Track racing bicycles

Market, By Product

• Mountain bicycles
• Cyclo-cross bicycles
• Road racing bicycles
• Track racing bicycles

Market, By End-user

• Men
• Women
• Kids

Market, By Sales Channel

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA