The Bicycle Tourism market is estimated to reach USD 345.1 Million in 2022. As per the report, sales are forecast to increase at a robust 14% CAGR, with the market valuation reaching USD 1291.3 Million by 2032.
| Attribute | Details |
|---|---|
| Bicycle Tourism market Estimated Size (2022) | USD 345.1 Million |
| Bicycle Tourism market Projected Size (2032) | USD 1291.3 Million |
| Bicycle Tourism Market Value-based CAGR (2022 to 2032) | 14% |
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Bicycle tourism refers to visiting places away from home which includes cycling for leisure, being the basic factor of the concept. Bicycles were considered the transport for the poor after the rich people and aristocrats shifted to cars. Now the perspective of people towards bicycles has changed as the awareness about the environment has increased. Also, new age cycles come in upgraded designs and new technology which has put an end to the discrimination towards bicycle users. Nowadays, people ride bicycles for exercise and fun as well.
A tremendous amount of increase has been noted in the number of cyclists since the pandemic. People are getting health conscious and are finding ways like cycling to satisfy their desire for fun and adventure with added benefits of improving their health. As a result, the number of cyclists will keep growing further, hence the bicycle market is also expected to grow at a great pace.
The concept of sustainability has given rise to an emerging trend of cycling as a result of tourists' growing craze for environmental and ecological awareness. Growing economic activity in emerging nations raises the demand for energy and other resources, which typically results in environmental degradation. Consequently, people are getting more and more inclined towards the use of cycles for transportation. This has set a concrete foundation for bicycle tourism and will also help in the reduction of carbon footprint, and environmental change and prevent the loss of biodiversity.
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Every sector has to undergo change with time and upgrade its way of functioning according to the consumer’s demand. The bicycle manufacturers have a great understanding of this fact and they keep upgrading their bicycle designs at every point to attract more people to bicycles.
The new-age bicycles are available in trendy and user-friendly designs which has increased the scope of the bicycle market to a great extent. These bicycles are also available in custom-made designs according to the customer's needs. This has captured the consumer’s attention providing a considerable boon to the bicycle market and hence the bicycle tourism market as well.
The growing trend of Bicycle tourism has given rise to the electronic bike market. There are a lot of bicycle tourists who have health and physical constraints. These travelers are majorly attracted by the concept of e-bikes. These cycles have enhanced technology that uses electric energy to power the cycles by virtue of which, the bikers don’t get tired and can enjoy their adventure and fun at their complete capacity.
These bicycles also come with hybrid designs which allow the users to use the electric motor at their wish. This gives the rider an option of whether he wants to ride the bicycle in its traditional fashion or conserve his energy at challenging tracks and which doesn’t reduce the fun of cycling for the tourist.
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There are various services available for the development of cycle tourism. Bicycle tourists have designed various trails for tourists. These trails are combined with several activities to make packages that gain the attraction of bicycle tourists. Bicycle renting is one such service that aids people to enjoy biking tours with family or friends without the need to actually own a bicycle. These also help large groups to experience the fun and adventure of bicycle tourism without any constraints as such. This has escalated the craze of bicycle tourism amongst people.
According to FMI, the bicycle tourism industry in the USA is likely to expand dramatically, with a CAGR of 14.7 % during the forecast period. The ongoing bicycle shortage is one of the biggest signs that bicycle tourism is on the rise. In all major nations, supply has been considerably outpaced by demand.
Even though supply chain problems have hit numerous industries, the bicycle sector is particularly afflicted. Bicycle demand for both fitness and recreation is what drives the bicycle tourism market in the USA
The industry is anticipated to grow as more people choose to ride bicycles for recreational purposes. Further predicted market growth is the choice of bicycles as a practical form of fitness exercise. The nation's millennials are becoming more and more enamored with trendy mountain bikes and e-bikes.
As a result, manufacturers are being forced to introduce items under the same category in order to popularize two-wheel mobility in the nation and boost the demand for bicycle tourism. Cities with significant riding populations in the east, such as Chicago, Minneapolis, and New York City, demonstrate that other variables besides weather and temperature affect the adoption of bicycles.
The top three countries for bicycle tourism are Germany, the United Kingdom, and the Netherlands. Other markets, nevertheless, are expanding quickly as well. According to Jess Freire of the European Cyclists Federation, cycling increased double in Hungary during the pandemic.
European governments are increasing their investments in bicycle lanes, car-free city centers, better bike storage facilities, and more safety. As it is quicker, simpler, and healthier to bike to work and school in Europe, weekend biking is on the rise. Moreover, compared to other regions, Europeans travel independently more frequently. The majority of Europeans plan their own bike vacations.
The highest growth increases have been in the United Kingdom (60%) and in Ireland, France, and Sweden (30%+). According to the European Parliament, 2.3 billion bicycle excursions are taken each year.
By supporting several initiatives around the continent, the EU has been actively promoting bicycle tourism. Two long-distance bicycle routes that were co-financed in 2011 are the Pilgrims Route - EuroVelo 3 and the Iron Curtain Trail - EuroVelo 13.
Japan's incredible culture, stunning scenery, freshly cooked food, natural hot springs, high-quality bikes, and the best cycling roads in the world are all contributing to the country's booming bicycle tourism industry.
Few initiatives by Government:
| City | Profitable Factors |
|---|---|
| South Korea | As towns race to offer the service as a substitute for traditional transportation, South Korean ride-sharing businesses are expanding their business portfolios into electric bike-sharing, raising expectations. The largest messenger app provider in the nation, Kakao, has launched a new service called Kakao T Bike that allows users to rent electric bikes. The business launched in Incheon and Seongnam, Gyeonggi. |
| Seoul | Seoul is hardly the kind of heavily bicycled metropolis that Portland is, where an estimated 6% of the population cycles, with travels by bike accounting for about one and a half percent of all transit trips. However, the city of Seoul wants to change all of that, hoping to have 7.6% of its people riding by 2016 and 10% by 2020. The Ttareungyi, or Ding-a-ling, public bike system in Seoul was launched in September 2015 and has since demonstrated success in garnering popularity due to the convenience it offers with cutting-edge technology. |
Most of the bicycle tours take place in Europe
Europe is the capital of bicycle tourism as most of the events take place in the region. According to a recent study, it is seen that about one-fourth of the bike trips made globally are done by Dutch cyclists. Cycling has been a part of the Dutch lifestyle for a long time now, making Germany, Netherlands, United Kingdom, France, and Denmark the top regions among European countries for bicycle tourism.
Most of the cycling events take place in the European Union as a result the number of European Cyclists is anticipated to increase. Tour de France, Eurovelo, and European Cycling Federation [ECF] are some of the cycling-centric associations that strive for the upgradation of the cycling sector. The EU has been promoting bicycle tourism more and more, especially by co-financing numerous initiatives around the continent. The Pilgrims Route - EuroVelo 3 and the Iron Curtain Trail - EuroVelo 13 are two long-distance cycling routes that were co-financed in 2011 as an illustration.
Sri Lankans turning towards the sustainable mode of transport
Currently, Sri Lanka is dealing with a major economic crisis that has caused a fuel shortage in the country. This has made the population shift towards a more sustainable way of transport.
People in the country have started using cycles for their day-to-day travel as fuel prices are at a peak due to the financial crisis. This has provided an excellent opportunity for the growth of bicycle tourism in Sri Lanka as more and more people are getting inclined towards cycles as their primary mode of transport.
India has incredible diversity in landscape
India has incredible diversity in its culture and landscape throughout the country. There are various trails that connect tourist destinations with scenic views. Bicycle tourism is growing at a great pace post pandemic and people are interested in exploring places in this new fashion. Many tour providers have started adding Bicycle tourism to their tours offered. They are also providing packages to fulfill the tourist’s desire for nirvana through the addition of activities like yoga and meditation in the packaged deals. This has attracted a large number of tourists and is expected to keep growing in the coming years.
People like to travel long distances on cycles
The greatest market for cycling tourism is provided by the Touring/ expedition type. Tour cyclists enjoy cycling as a pastime and typically favor organized bike journeys. The more details there are about a bike tour, the more appealing a place is to them. This informs tour riders about the amenities available and the sites they will encounter.
Tour cyclists are more like regular tourists than road or mountain bikers, for whom a vacation is typically only for cycling-related purposes. They travel by bicycle and use it to visit interesting locations. Tour cycling is thus compatible with any other tourism activity.
Online Booking is More Preferred by Tourists
The online booking mode is preferred by most tourists as usage of the internet has increased post-pandemic. There are various bicycle installations that use QR codes for renting bikes. This provides additional safety for contactless transactions and ease of booking as well. Furthermore, Bicycle tour providers have launched apps for booking bicycle tour which provides information on upcoming events as well.
The popularity of Bicycle Tourism among Middle-aged People Will Remain High
The average age of cyclists is approximately 50 years globally. The age group of 46 to 55 years contributes the major percentage of Bicycle tourists. This is because people of this age group are mostly inclined towards adopting a healthy lifestyle with less time available to them due to their busy schedules.
Packaged Tour Type is More Preferred by Tourists
Tourists mainly prefer cycling with a group of family or friends. Hence most of the bookings made are of groups containing 4 or more people. As cyclists like to perform other adventure activities as well when going on a bicycle tour.
The players in Bicycle Tourism are principally engaged in finding new ways for the development of the sector. They are coming up with new strategies and packaged tours including various adventure activities like hiking, camping, yoga, meditation, etc. for attracting travelers towards Bicycle Tourism.
For Instance:
Tour radar are providing tours that are specially designed for families so that the families can enjoy the trips together. These tours are included in package tours which provide several recreational and adventure activities with additional discounts for booking early.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania & Middle East and Africa(MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Colombia Germany, United Kingdom, France, Italy, Russia, South Africa, Turkey, United Arab Emirates(UAE), Egypt, Jordan China, Japan, South Korea, India, Sri Lanka, Thailand, Malaysia, Indonesia, Philippines, Cambodia, Vietnam Australia & New Zealand. |
| Key Segments Covered | Type, Booking channel, tourist type, tour type, and Region. |
| Key Companies Profiled | Backroads; EcoBike; Escape Adventures; DuVine Adventures; Butterfield and Robinson; World Expeditions; Spice Roads; Exodus; Intrepid; G Adventures; Himalayan Glacier Adventure and Travel Company; Sarracini Travel; Arbutus Routes; Austin Adventures |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The current Bicycle market has reached a valuation of USD 345.1 Million in 2022.
Growing awareness about sustainability among travelers and an increase in fuel prices are the major factors driving the bicycle tourism market. Also, people are more concerned about their health in the post-pandemic era while tour providers are also launching new tour packages to fuel the growth of this sector.
The leading players in the bicycle tourism market are Backroads, EcoBike, Escape Adventures, DuVine Adventures and Butterfield, and Robinson among others.
1. Executive Summary 2. Market Introduction 3. Global Tourism Industry Analysis 4. Market Dynamics 5. Market Background 6. Categorizing of Sector 2021 7. Categorizing of North America Sector 2021 8. Categorizing of Latin America Sector 2021 9. Categorizing of Europe Sector 2021 10. Categorizing of East Asia Sector 2021 11. Categorizing of South Asia Sector 2021 12. Categorizing of Oceania Sector 2021 13. Categorizing of Middle East and Africa Sector 2021 14. Competition Analysis 14.1. Back Roads 14.2. EcoBike 14.3. Escape Adventures 14.4. DuVine Adventures 14.5. Butterfield and Robinson 14.6. World Expeditions 14.7. Spice Roads 14.8. Exodus 14.9. Intrepid 14.10. G Adventures 14.11. Himalayan Glacier Adventure and Travel Company 14.12. Sarracini Travel 14.13. Arbutus Routes 14.14. Austin Adventures 15. Assumptions and Acronyms Used 16. Research Methodology
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Bicycle Tourism Market
