Bicycles remain a cornerstone of personal transport, fitness, and urban life, rejuvenated in 2025 by technological advances, eco-conscious policies, and shifting consumer lifestyles. As cities invest in cycling infrastructure and carbon reduction, manufacturers are responding with a wave of innovation—especially in e-bikes, comfort models, and premium designs. Despite recent supply chain shocks and profit pressures, the bicycle sector continues to cycle forward, propelled by rising demand for sustainable mobility and outdoor activity.

According to Straits Research, the global bicycle market size was valued at USD 72.28 billion in 2024 and is estimated to reach an expected value of USD 77.49 billion in 2025 to USD 135.15 billion by 2033, growing at a CAGR of 7.2% during the forecast period (2025-2033). This sustained growth reflects major shifts in transportation choices and consumer priorities, putting versatility and environmental impact at the center of industry trends.

Global Growth, Leading Regions, and Expansion

Asia-Pacific leads global production and consumption, fueled by China’s manufacturing ecosystem, India’s vast cycling population, and South Korea’s rising tech-centric market. Key cities in Europe are making strategic investments in cycling infrastructure, with Germany, the Netherlands, and France driving e-bike adoption and urban mobility initiatives. North America, led by the U.S., is experiencing renewed interest as municipalities promote cycling for health, recreation, and congestion relief.

  • China produced more than 50 million bicycles in 2025, accounting for 62% of world output. Giant Manufacturing Co. Ltd. and Phoenix are leaders, exporting to the U.S., Europe, and Japan. The country’s Belt and Road Initiative also supports large-scale exports, though labor costs are rising.

  • India generated around 10 million units, powered by strong domestic brands like Hero Cycles, Atlas, and Avon. New infrastructure and “Smart Cities” programs fuel growth, and exports to Africa and Southeast Asia are climbing.

  • Taiwan exported 70% of its 8 million bicycles, focusing on high-quality, lightweight models through brands such as Giant and Merida Industry.

  • European leaders include Germany (Cube, Canyon, Haibike), Italy (Bianchi, Colnago), Portugal (Órbita, RTE), and the Netherlands (Gazelle, Batavus), each capitalizing on craftsmanship, innovation, and cycling-friendly policies.

  • United States brands like Trek, Specialized, and Yeti Cycles continue to set performance standards globally, with innovation in carbon frames and race bike geometries.

Key Players: Company Analysis and National Highlights

  • Giant Manufacturing Co. Ltd. (Taiwan): Maintains dominance in high-quality and value-centric bicycles worldwide. Their women’s sub-brand, Liv Cycling, sustains robust growth.

  • Hero Cycles (India): India’s premier bicycle maker focuses on expanding affordable models and championing rural mobility, scoring government contracts for mass transit solutions.

  • Trek Bikes (USA): Leads in advanced road and mountain bike tech and sustainability. Recent years have brought new electric and hybrid models, expanding into European markets.

  • Bianchi (Italy): Celebrates craftsmanship and innovation with premium road bikes, investing heavily in electric drivetrain R&D for Europe’s competitive sector.

  • Cube, Canyon, Haibike (Germany): Drive both traditional and e-bike segments, supported by rapid innovations in battery technology and government-sponsored infrastructure development.

  • Samchuly, Hyundai (South Korea): Introduced new e-bike models in 2025, responding to urbanization and health-focused trends, with South Korea’s bicycle market projected to grow at 8.5% CAGR through 2035.

  • Órbita, RTE (Portugal): Maintain strong European export business with focus on mountain and road bikes, despite region-wide supply chain challenges.

  • Yeti Cycles (USA): Renowned for performance mountain bikes and fostering competitive racing talent, with ongoing product launches in North America.

Technology, Trends, and Industry Dynamics

  • Electric Bicycles Dominate: In 2025, e-bikes capture as much as 40% of the technology segment. Improvements in battery tech, range, and design are fueling adoption among leisure and commuter customers worldwide. Cycling industry associations across the EU, South Korea, and Japan are pushing new standards and incentives for green transport.

  • Comfort and Urban Models on the Rise: Comfort bikes represent 30% of global volume, responding to demand for easy commuting, improved frame ergonomics, and inclusive design. Cities from Paris to Seoul are launching subsidized public bike-share fleets.

  • Sustainability Pressures: Manufacturers and suppliers, led by German, Dutch, and Scandinavian brands, are investing in low-impact materials, production efficiency, and carbon offset programs. Italy’s government pledged 600 million euros for cycling infrastructure by 2025, amplifying demand for locally produced bikes.

  • Competitive Pricing and Fragmented Industry: Oversupply and heavy discounting hit companies like Brompton in the UK, resulting in profit drops. U.S. importers like Kent International are shifting supply chains away from China due to tariffs, while European manufacturers leverage proximity and cost advantages.

Recent News and Global Events

  • The 2025 UCI Mountain Bike World Championships saw South African Alan Hatherly retain his men’s cross-country title, highlighting continued investment in racing and competitive sports bikes.

  • Brompton Bicycle (UK) reported a dramatic drop in profits, attributed to oversupply and aggressive discounting, sparking industry-wide reassessment of inventory and pricing strategy.

  • Giant and Merida (Taiwan) introduced new lightweight, carbon models for global export; Giant, through its Liv Cycling branch, expanded women-specific designs to Southeast Asia and Europe.

  • Government-backed cycling infrastructure projects in Germany, Italy, and South Korea encouraged rapid growth of both urban and e-bike segments and expanded consumer base.

Opportunities and Challenges

The bicycle industry’s future is shaped by urbanization, sustainability policies, and consumer demand for health and mobility. While electric and comfort bikes unlock new segments, manufacturers must navigate global supply chain disruptions, competitive margins, and evolving government regulations. Strategies that emphasize technology, durability, and localized production will define success, while collaborations and innovation will determine long-term relevance.

Three-line Article Summary

In 2025, bicycles drive sustainable mobility innovation as e-bikes and comfort models transform personal transport worldwide. Leading companies across Asia, Europe, and North America accelerate technical advances and expand global reach. Despite supply challenges, the cycling industry is set for robust, long-term growth.