India Bicycle Market to grow with a CAGR of 5.9% through 2030
Increasing emphasis on
fitness and healthy lifestyles, expanding urbanization supporting eco-friendly
transport modes, and rising government initiatives promoting cycling
infrastructure are the factors driving the market in the forecast period
2026-2030.
According to TechSci Research report, “India Bicycle Market - By Region, Competition, Forecast &
Opportunities, 2020-2030F”, The India Bicycle market was valued at USD 2.9
Billion in 2024 and is projected to reach approximately USD 4.1 Billion by
2030, expanding at a CAGR of 5.9% during the forecast period. The
focus on fitness and active lifestyles is motivating individuals to adopt
bicycles for commuting and exercise. Concerns regarding air quality and the
growing need for sustainable transport solutions are steering urban residents
towards cycling. Changing patterns in urban travel, especially among young
consumers, are supporting the use of bicycles for short trips, influencing the
urban mobility landscape across cities.
New developments in bicycle technology, including lighter materials and
pedal-assist electric models, are broadening the market's appeal beyond
hobbyists to everyday commuters. Efforts by municipalities, advocacy groups,
and private sectors to create cycling paths and promote riding culture are
strengthening the foundation for long-term growth. The changing consumer
perspective on sustainability is making bicycles an attractive alternative to
traditional vehicles. Nevertheless, challenges persist within the market.
Competition from motorcycles and scooters, particularly for daily commutes,
poses a threat to bicycle adoption. Price volatility of key raw materials
affects manufacturing economics. Moreover, the absence of consistent cycling
infrastructure in many urban areas limits the potential for widespread use.
Addressing these challenges will be crucial for companies looking to capitalize
on market opportunities.
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India
Bicycle Market Is Segmented by Type, Technology, Sales Channel, and By Region.
In India, the sales of
bicycles are distributed through online and offline channels, each offering a
unique customer experience. Offline channels include specialty stores,
hypermarkets, and independent retailers, where customers prefer to physically
assess the product before purchasing. The tactile experience of trying out
different models, receiving personalized recommendations, and availing instant
after-sales services are influencing buyers to opt for offline purchases.
Offline distribution also benefits from established trust and immediate product
availability, which resonates well with a broad section of consumers,
particularly in tier-2 and tier-3 cities. On the other hand, the online sales
channel is gaining momentum due to the rising penetration of smartphones and
internet connectivity. Online platforms provide customers with the convenience
of browsing a wide variety of brands and models without geographical
limitations. Detailed product descriptions, virtual consultations, home
delivery options, and promotional discounts are attracting tech-savvy
consumers, especially among the younger population. E-commerce portals and
brand-specific websites are enhancing customer experiences through easy
navigation, financing options, and return policies, which are encouraging more
people to shop for bicycles online. Both channels are shaping consumer behavior
in different ways. While offline stores continue to offer traditional,
trust-based shopping experiences, online channels are addressing the growing
demand for convenience and digital engagement. This dual-channel approach is
creating a balanced ecosystem that caters to the preferences of diverse
consumer groups across urban and semi-urban regions.
South India is projected to
experience the fastest growth in the India Bicycle Market during 2024.
Increasing urbanization in cities like Bengaluru, Chennai, and Hyderabad is
fueling the adoption of bicycles for daily commuting and fitness activities. Rising
awareness about the benefits of cycling, along with local government
initiatives supporting cycling infrastructure, is boosting the popularity of
bicycles across the region. High participation in cycling events and growing
interest in adventure sports are strengthening the bicycle culture in South
India. Consumers in this region are increasingly inclined toward eco-friendly
transportation options as concerns about traffic congestion and air pollution
escalate. These factors are contributing significantly to the accelerating
growth of the bicycle market in South India.
Major Market Players
Operating in India Bicycle Market Are:
- Hero Cycles Limited
- TI Cycles of India Limited (part of Tube
Investments of India Limited)
- Avon Cycles Limited
- Atlas Cycles Limited
- Firefox Bikes Private Limited
- Ninety One Cycles Private Limited
- Schnell Cycles Private Limited
- Decathlon Sports India Private Limited
- Giant Starkenn Bicycles Private Limited
- SRF Limited
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Government
regulations focused on promoting eco-friendly transportation and enhancing road
safety are contributing to the growth of the India Bicycle Market. Policies
that encourage non-motorized mobility options, along with initiatives
supporting sustainable urban transport, are fostering greater adoption of
bicycles. Programs such as the Smart Cities Mission and emphasis on creating
dedicated cycling lanes are influencing consumer preferences toward bicycles as
a primary mode of short-distance travel. Continuous improvements in urban and
rural infrastructure, including the development of safer roads and cycling
tracks, are further shaping bicycle usage patterns across various regions. As
India strengthens its commitment to sustainable mobility and environmental
conservation, the demand for bicycles as a reliable and cost-effective
alternative is expected to rise substantially. This evolving regulatory and
consumer landscape is anticipated to play a crucial role in driving the
market's growth trajectory over the coming years", said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
India Bicycle Market By Type (Mountain Bikes, Road Bikes, Cargo Bikes, Others), By Technology (Electric, Conventional), By Sales Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2020-2030F,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the India Bicycle
Market.
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