India Bicycle Market Size & Outlook, 2023-2030
India bicycle market, 2018-2030 (US$M)
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India bicycle market highlights
- The India bicycle market generated a revenue of USD 2,758.2 million in 2023 and is expected to reach USD 7,102.6 million by 2030.
- The India market is expected to grow at a CAGR of 14.5% 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 2,758.2 million |
| Market revenue in 2030 | USD 7,102.6 million |
| Growth rate | 14.5% (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, India accounted for 4.1% of the global bicycle market in 2023.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bicycle market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 7,102.6 million by 2030.
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Bicycle Market Scope
Bicycle Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 41.73% in 2023. Horizon Databook has segmented the India bicycle market based on mountain bikes, hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
India’s bicycle market is growing significantly with the increasing adoption of bicycles. The COVID-19 pandemic has increased the demand for bicycles owing to improving fitness awareness and leisure requirements.
Sales of electric bicycles have been boosted owing to environmental concerns, increased traffic congestion, and government programs to promote riding.
As consumers choose cost-effective bicycles with superior safety features and aesthetics, bicycle manufacturers in India are majorly focusing on basic and low-cost roadster bicycles, which are mainly made of steel. The production of premium and high-quality bicycles such as racing bicycles and mountain bikes.
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Our clientele includes a mix of bicycle market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the India bicycle market , including forecasts for subscribers. This country databook contains high-level insights into India bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India bicycle market size, by product, 2018-2030 (US$M)
India Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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