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1 Apr 2025

Bira has voiced serious concerns over the latest figures from the BRC-NIQ Shop Price Index for March 2025.

26 Mar 2025

ACT parent company Bira has said the Chancellor's Spring Statement delivered today has failed to address the "perfect storm" of cost pressures facing independent retailers across the UK,...

25 Mar 2025

ACT parent company Bira has outlined its key priorities ahead of the Chancellor's Spring Budget statement.

24 Mar 2025

Activate Cycle Academy has delivered a five-day bespoke training course to help Metropolitan Police officers to crack down on illegal e-bikes.

21 Mar 2025

UK cycle industry trade bodies the Bicycle Association (BA) and Association of Cycle Traders (ACT) have issued a joint message to cycle retailers who may be considering fitting e-bike conversion...

20 Mar 2025

Businesses and individuals that have signed up to the E-Bike Positive retailer safety pledge are urged by the ACT share pictures of the in-store campaign assets in action with the association.

20 Mar 2025

Cytech, the internationally recognised training and accreditation scheme for bicycle mechanics, have partnered with Bristol-based charity Life Cycle to offer a range of bicycle mechanic...

19 Mar 2025

A lot of cycling retailers would consider managing inventory the most crucial aspect of running a shop, investing significant effort and time into keeping on top of stock. However, high street...

19 Mar 2025

The Office for Product Safety and Standards (OPSS) has translated its e-bike and e-scooter safety guidance videos into multiple languages to improve accessibility for delivery riders and other...

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Global Bicycle Market Forecast to reach $130 billion by 2033

Posted on in Business News , Cycles News

New research from Research Nester has forecast that between now and 2033, the global bicycle market could reach an estimated value of approximately $130 billion, by expanding at a compound annual growth rate of around 7%. The market has generated revenue of approximately $80 billion this year. Major key factors propelling the growth of the market worldwide are cited as the higher number of people becoming aware of the benefits of cycling and the growing infrastructure of bicycle manufacturing.

City Cycling Woman

The growth of the global market can be attributed to the launch of several advanced bicycles by major players as well as a more general rise in the number of bicycles available in the market. According to estimates, there were more than 2 billion bicycles in use worldwide in 2015, and by 2050, that number is expected to rise to close to 5 billion. In addition, mountain bikes are predicted to be produced more than 72 million units by 2026, from an estimated 44 million units in 2020.

Out of all, the increasing popularity of electric bikes is expected to be the sector that generates the highest revenue by the end of 2033. In 2019, for example, around 288,000 electric bikes were sold in the United States, compared to nearly 437,000 in 2020.

The global bicycle market is also estimated to grow majorly on account of the following:

•    Rising demand for bicycles

•    Rise in the development of cycling manufacturing

•    Initiatives taken for riding bicycles

•    New product launches by key market players

•    Awareness of the health benefits associated with the bicycle riding

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