Bicycles offer a versatile and eco-friendly means of transportation. The simplicity and sustainability of bicycles make them an unparalleled choice for individuals seeking an active and environmentally conscious lifestyle. Whether commuting through city streets or exploring nature trails, bicycles continue to symbolize freedom, health, and a connection with the world around us.
The report covers the Bicycles market which includes the number of bicycles sold, the average price
paid per bicycle, electric bicycle share, revenue, and revenue growth in different regions around the world.
Electric bicycles, or e-bikes, have rapidly gained popularity as a transformative mode of transportation. These innovative two-wheelers seamlessly blend the convenience of traditional bicycles with electric-powered assistance, offering riders an extra boost as they pedal. E-bikes are celebrated for their ability to make commuting more accessible, especially in hilly terrains or over longer distances. In 2023, over 50% of the bicycles sold in Netherlands were electric showing the growing popularity of electric bicycles around the world.
In 2023, 139 million bicycles were sold worldwide and generated a revenue of US$61 billion. We forecast that unit sales in the Bicycles market will reach a compound annual growth rate (CAGR) of 1.2% between 2015 and 2029. Among the countries, China generated the highest revenue in 2023.
