Market Size of North America Bicycle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.71 Billion |
| Market Size (2029) | USD 8.47 Billion |
| CAGR (2024 - 2029) | 1.92 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Bicycle Market Analysis
The North America Bicycle Market size is estimated at USD 7.71 billion in 2024, and is expected to reach USD 8.47 billion by 2029, growing at a CAGR of 1.92% during the forecast period (2024-2029).
The growing use of bicycles for trekking and recreational activities, coupled with an increasing number of cycling events organized by various organizations like Cycling USA, may boost the demand for sports bicycles over the forecast period. The growing influence of celebrity endorsement, coupled with increasing media coverage for such events, is expected to fuel market growth further. For instance, in the United States, May is recognized as 'Bike Month,' and 'Bike-to-Work Week' is always either the first or second week of May. Austin, Boston, Pasadena, Portland, Roseville, Santa Barbara, Sacramento, San Diego, San Francisco, and Washington are among the United States cities that actively participate in these events.
The growing traffic congestion and shortage of parking space, particularly in metropolitan cities, are prompting people to consider bicycle commutation for short distances to save time. At the same time, various governments are aggressively rolling out the infrastructure necessary to support bicycle commutation, encouraging people to opt for bicycles. For instance, to increase employment possibilities, combat climate change, and develop a more resilient and sustainable economy, the Canadian government announced the first federal fund of USD 400 million in March 2021 for bike lanes and trails across the nation.
North America Bicycle Industry Segmentation
A bicycle consists of two wheels held in a frame, one behind the other, propelled by pedals and steered with handlebars attached to the front wheel. The North American bicycle market is segmented by type, distribution channel, and geography. By type, the market is segmented into road bicycles, hybrid bicycles, all-terrain bicycles, e-bicycles, and other classes. Distribution channels segment the market into offline and online retail stores. By country, the market is segmented into the United States, Canada, Mexico, and the Rest of North America. For each segment, the market sizing and forecasts have been done based on the value (in USD million).
| Type | |
| Road Bicycles | |
| Hybrid Bicycles | |
| All-Terrain Bicycles | |
| E-bicycles | |
| Other Types |
| Distribution Channel | |
| Offline Retail Stores | |
| Online Retail Stores |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Bicycle Market Size Summary
The North American bicycle industry is poised for steady growth, driven by increasing consumer interest in cycling for both recreational and commuting purposes. The market is experiencing a surge in demand for sports bicycles, fueled by the rising popularity of cycling events and the influence of celebrity endorsements. Cities across the United States actively participate in events like 'Bike Month' and 'Bike-to-Work Week,' which promote cycling as a viable mode of transportation. Additionally, the growing traffic congestion and limited parking in urban areas are encouraging more people to consider bicycles for short-distance commutes. Government initiatives, such as Canada's federal funding for bike lanes and trails, further support this trend by enhancing the infrastructure necessary for bicycle use.
The United States bicycle market is particularly driven by the demand for fitness and leisure activities, with a notable increase in outdoor participation. The pandemic has also played a role in boosting bicycle sales, as individuals sought alternative forms of exercise when gyms were closed. This shift has led to a rise in demand for both affordable and high-end bicycles, including mountain, road, and electric bikes. The market is highly competitive, with key players like Trek Bicycle Corporation, Cannondale Bicycle Corporation, and Schwinn Bicycle Company leading the charge. These companies are expanding their product offerings to cater to diverse consumer segments, including women and children, and are investing in new technologies and services to maintain their market position.
North America Bicycle Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Road Bicycles
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2.1.2 Hybrid Bicycles
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2.1.3 All-Terrain Bicycles
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2.1.4 E-bicycles
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2.1.5 Other Types
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2.2 Distribution Channel
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2.2.1 Offline Retail Stores
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2.2.2 Online Retail Stores
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2.3 Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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2.3.4 Rest of North America
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North America Bicycle Market Size FAQs
How big is the North America Bicycle Market?
The North America Bicycle Market size is expected to reach USD 7.71 billion in 2024 and grow at a CAGR of 1.92% to reach USD 8.47 billion by 2029.
What is the current North America Bicycle Market size?
In 2024, the North America Bicycle Market size is expected to reach USD 7.71 billion.
