U.S. Bicycle Market Size & Outlook, 2023-2030
U.S. bicycle market, 2018-2030 (US$M)
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U.S. bicycle market highlights
- The U.S. bicycle market generated a revenue of USD 11,616.0 million in 2023 and is expected to reach USD 20,678.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 8.6% 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 11,616.0 million |
| Market revenue in 2030 | USD 20,678.6 million |
| Growth rate | 8.6% (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, U.S. accounted for 17.1% of the global bicycle market in 2023.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In 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 |
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U.S. 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 40.54% in 2023. Horizon Databook has segmented the U.S. 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 terms of revenue, the U.S. dominated the North American bicycle market in 2022. The growth of the market in the U.S. is attributed to the rising number of cycling events as well as supportive initiatives from the government.
In addition to track racing, off-road racing, and mountain biking, the government sponsors cycling activities such as road racing, touring, and leisure riding. These activities are promoting the adoption of e-bikes, smart bicycles, and premium bicycles in the country.
Some of the other key factors supporting the adoption of e-bikes in the country include environmental advantages and avoiding traffic congestion. During the COVID-19 pandemic, the U.S. population has realized the importance of having a healthy life, which can be obtained by regular cycling to reduce obesity.
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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 U.S. bicycle market , including forecasts for subscribers. This country databook contains high-level insights into U.S. bicycle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. bicycle market size, by product, 2018-2030 (US$M)
U.S. Bicycle Market Outlook Share, 2023 & 2030 (US$M)
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