Asia Pacific Bicycle Market Size & Outlook, 2023-2030
Asia Pacific bicycle market, 2018-2030 (US$M)
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Asia Pacific bicycle market highlights
- The Asia Pacific bicycle market generated a revenue of USD 24,086.8 million in 2023.
- The market is expected to grow at a CAGR of 10.3% from 2024 to 2030.
- In terms of segment, road bikes was the largest revenue generating product in 2023.
- Cargo Bikes is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 24,086.8 million |
| Market revenue in 2030 | USD 47,700.6 million |
| Growth rate | 10.3% (CAGR from 2023 to 2030) |
| Largest segment | Road bikes |
| Fastest growing segment | Cargo Bikes |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes |
| Key market players worldwide | Accell, Avon Protection PLC, Dorel Industries Inc Shs -B- Subord.Voting, Giant Bicycle, MERIDA BIKES, Specialized Bicycle Components, The Scotts Miracle Gro Co Class A, Trek Resources Inc, Atlas Cycles, Cervelo Cycles, Beistegui Hermanos, Axalko, Mammoth Mountain Ski Area |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 35.4% of the global bicycle market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 41,707.7 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific bicycle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bicycle market will help companies and investors design strategic landscapes.
Road bikes was the largest segment with a revenue share of 41.1% in 2023. Horizon Databook has segmented the Asia Pacific bicycle market based on mountain bikes, hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific emerged as the dominant region with the largest market share of 33.94% Countries such as China, Japan, and Singapore are emphasizing infrastructure roll-out strategies to encourage and support bicycle commutation.
Cities such as Tokyo are known for their lowest accident rates and, hence, considered ideal for urban bicycling. Moreover, various bicycle manufacturers are expanding their presence in other countries, which is propelling the growth of the market worldwide.
The market growth in China is attributed to the increasing environmental issues and traffic congestion in the country.
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Target buyers of Asia Pacific bicycle market databook
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific bicycle market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific bicycle market size, by country, 2018-2030 (US$M)
Asia Pacific Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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