North America Bicycle Market Size & Outlook, 2023-2030
North America bicycle market, 2018-2030 (US$M)
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North America bicycle market highlights
- The North America bicycle market generated a revenue of USD 11,297.9 million in 2023.
- The market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, cargo 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 11,297.9 million |
| Market revenue in 2030 | USD 20,945.8 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Cargo 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 | 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, North America region accounted for 16.6% 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 |
|---|
North America 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.
Cargo bikes was the largest segment with a revenue share of 49.68% in 2023. Horizon Databook has segmented the North America bicycle market based on hybrid bikes, road bikes, cargo bikes covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the market in North America is primarily attributed to the increasing consumer expenditure on recreational activities such as biking, paddle boarding, and surfing.
Moreover, the rising trend of electric bicycles owing to increasing environmental concerns and stringent regulations regarding emissions is expected to support the green transport concept, as well as propel the growth of the market in the coming years.
The U.S. government offers tax benefits on purchasing electric bicycles, which motivates people to adopt bicycles for commuting.
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Target buyers of North America 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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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 continent-level data and insights on the North America bicycle market , including forecasts for subscribers. This continent databook contains high-level insights into North America bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America bicycle market size, by country, 2018-2030 (US$M)
North America Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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