The global bicycle market in 2022 was US$ 1,300 million and is estimated to be US$ 2,650.23 million in 2023. The bicycle market is expected to increase at a CAGR of 8.92% between 2023 and 2033, totaling around US$ 6,229.4 million by 2033.

The increase in global bicycle market rises as customers prefer bicycles as a form of leisure increase. Maintaining an active and healthy lifestyle, and a life free from numerous ailments, bicycles are considered to be a handy method of exercise that is in great demand among consumers.