How big is the bike market | Industry Trends & Future Outlook

Q: What is the overall size of the bike market?

The bike market was valued at USD 75.4 billion in 2024.

Q: What is the CAGR of the bike market?

The bike market is expected to grow at a CAGR of 6.3% during the forecast period.

Q: What types of bikes are driving market growth?

Electric bikes, mountain bikes, hybrid bikes, and commuter bikes are contributing significantly to worldwide growth.

Q: Why is the demand for e-bikes increasing?

Improved battery life, government incentives, and urban commuting needs are accelerating e-bike adoption.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA5925

Publication Date: Jul 2025

How big is the bike market?

According to industry insights and 6Wresearch internal database, the bike market was valued at approximately USD 75.4 billion in 2024 and is projected to reach USD 115.6 billion by 2031, growing at CAGR of 6.3% during the forecast period.

Rising environmental concerns, increasing health awareness, and growing urban traffic congestion are pushing demand for bicycles across both developed and emerging economies.

Key Growth Factors of the Bike Market

Bicycles are being used more often for fitness and personal mobility.
Government expenditures on green transport and bike infrastructure
Demand for electric and hybrid bikes is rising quickly.
Increase in sports and recreational cycling, particularly among young people
Growing urbanisation is promoting two-wheel drive as an alternative to automobiles.
Increasing the availability of bike rental and sharing programs in cities

Bike Market Trends

Electric bikes, or e-bikes, are becoming more and more popular as battery technology and motor efficiency advance quickly. Aluminium and carbon frames that are lightweight are becoming more popular. These days, smart bikes with built-in displays, GPS tracking, and mobile connectivity are popular. Bike retailing is changing as a result of direct-to-consumer (DTC) sales models.

Emerging Developments in the Bike Market

Emerging developments in the bike market are being shaped by the market AI-enabled route planning, anti-theft smart locks, and integrated power meters which are transforming the user experience. Innovations in foldable and cargo bike designs are meeting urban and delivery needs. Manufacturers are emphasizing eco-friendly materials and circular production processes to support sustainability goals.