Canada Bicycle Market Size & Outlook, 2023-2030
Canada bicycle market, 2018-2030 (US$M)
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Canada bicycle market highlights
- The Canada bicycle market generated a revenue of USD 13,812.1 million in 2023 and is expected to reach USD 24,947.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.8% 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.
Bicycle market data book summary
| Market revenue in 2023 | USD 13,812.1 million |
| Market revenue in 2030 | USD 24,947.1 million |
| Growth rate | 8.8% (CAGR from 2023 to 2030) |
| Largest segment | Road bikes |
| Fastest growing segment | Cargo Bikes |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 20.3% of the global bicycle market in 2023.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In North America, Canada bicycle market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 24,947.1 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 40.64% in 2023. Horizon Databook has segmented the Canada bicycle market based on mountain bikes, hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
In Canada, as per medical professionals, cycling is considered one of the most common exercises for good health and fitness. Most people follow cycling to keep themselves fit and healthy, especially after the COVID-19 pandemic.
Furthermore, rising gas prices in the country is influencing the population to adopt bicycles for commuting. Therefore, shops across Canada are finding challenging to keep up with the increased demand.
In 2022, the price of new cars has also increased, which has resulted into high demand for bicycles in the country. Therefore, shops across Canada are finding it challenging to fulfil the increasing demand for bicycles.
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada bicycle market , including forecasts for subscribers. This country databook contains high-level insights into Canada bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada bicycle market size, by product, 2018-2030 (US$M)
Canada Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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