Part
01
of one
Part
01
Looking at the global sales of bicycles: how are they divided up between different bike types like road, mountain, e-bikes, urban bikes, fitness bikes
Hello, and thanks for your question about the global sales of bicycles. I have found that the global bicycle market is currently worth around $40.48 billion, this is equivalent to around 133 million bikes sold. Below you will find a deep dive into my research, along with all the details as to how I came to this conclusion.
OVERVIEW/ METHODOLOGY
In order to answer your question thoroughly I have searched for reports and statistics referring to the global bicycle market. Following this I have found figures relating to sub-sectors of this market such as road bikes, mountain bikes, e-bikes and fitness bikes. I did note that you asked also for information on urban bikes, I have taken this to mean hybrid bikes, for which you will also find a section on
FINDINGS
GLOBAL BICYCLE SALES
The global bicycle market is growing. In 2014 it was valued at €35.7 billion (approx $40.48 billion). This is equivalent to around 133 million bikes sold.
The following year, in 2015, the market was valued at around $45.08 billion. And by 2021 the market is expected to be valued at around $59.9 billion, growing at a CAGR of 2.4% from 2016 to 2021.
Reasons for this growth in the market are attributed to the issue of tackling obesity in many developed nations, as well as the development of safe and efficient cycle lanes which are encouraging people to commute via bike as a healthy alternative transport.
ROAD
According to a forecast of the global bicycle market from 2016-2024 the road bike segment currently accounts for around 25.2% of the market. Making it the second largest segment after hybrid bikes.
MOUNTAIN
According to a forecast of the global bicycle market from 2016-2024 the mountain bike segment currently accounts for around 24.2% of the market.
E-BIKES
The global e-bike market is expected to reach $24.3 billion by the year 2025. Currently the market is valued at $15.7 billion, with around 35 million bikes sold in 2016.
Currently China is estimated to be holding the biggest share in this market, it is thought that China have more e-bikes than they do e-cars.
The reason for the huge predicted increase in this market is due to increasing level of population density and traffic congestion which are forcing people to consider alternative modes of transport. E-bikes are cheaper to run than cars, don't require licenses and can take advantage of the existing bicycling infrastructure.
FITNESS BIKES
North America are currently dominating in the global exercise bike market, which is prediction to grow at a CAGR of 4% from 2017 to 2022, reaching a market value of $522.4 million by the end of this period. Since 2008 there has been a surge in the number of people using exercise bikes, from 2008 to 2013 number rose from 47.16 million to 67.33 million.
HYBRID BIKES
Hybrid bikes are predicted to become significantly more important in the coming years. By 2024 sales of hybrid bikes are expected to make up for about 40% of the entire global bicycle market. It is currently estimated to be very close to hitting this figure, with reports claiming hybrid bikes to hold around 38.5% of the entire market.
CONCLUSION
Overall I have found that the global bicycle market is currently worth around $40.48 billion, which is equivalent to around 133 million bikes sold. This is expected to grow to around $59.9 billion by 2021. Currently the hybrid bike sector accounts for the greatest share in the market, followed by road bikes, and then mountain bikes.
Thanks for using Wonder, let us know if there's anything else we can help out with!