Global bicycle market revenue is predicted to reach $70 billion by 2029, according to a report by Market.us.
China leads the market by country at more than $12 billion, the data showed, followed by the U.S. at more than $8.6 billion and Germany at just over $7.6 billion.
Meanwhile, countries with the highest bicycle usage include the Netherlands with a leading 99% of people owning a bicycle, followed by Denmark at 81% and Germany at 75%.
Other countries with the highest bicycle usage:
- Sweden and Norway also have substantial ownership rates of 64% and 61%, respectively.
- In Finland, 60% of the population own bicycles, while Japan reported a 57% ownership rate.
- Switzerland and Belgium have 49% and 48% of their populations owning bicycles, respectively.
- China, despite its vast population, has a bicycle ownership rate of 37%.
Bicyclists between the ages of 45 and 64 represent the largest segment comprising 34% of bicyclists, followed by the 35 to 44 age group accounting for 29% and the 25 to 34 age group which comprises 23% of the bicyclist population.
According to Market.us, bicyclists between the ages of 18 and 24 make up 11% while the 65 and older age group is the smallest segment, representing just 3% of bicyclists.
At the same time, males constitute the bulk of bicyclists, accounting for 71% of the population, with their female counterparts making up 29% of bicyclists.
Educational levels and bicycling:
- Bicyclists with a bachelor’s degree make up the largest segment, accounting for 42% of the population.
- Bicyclists with a graduate degree or higher represent 33% of the population.
- Bicyclists with an associate degree or some college education constitute 20%, while those with a high school education or lower comprise 5%.
A total of 1,084 bicyclists were killed in crashes with motor vehicles in 2022, according to the Insurance Institute for Highway Safety (IIHS).
That was the highest number of annuual bicycle fatalities on record. Here are some additional statistics about cyclists safety from the IIHS:
- Bicyclist deaths have increased 8% since 1975, and have increased 75% since reaching their lowest point in 2010.
- Most bicyclist deaths in 2022 (89%) were among people age 20 and older.
- Deaths among bicyclists younger than 20 have declined 88% since 1975, while deaths among bicyclists 20 and older have increased almost fivefold.
- In every year since 1975, many more male than female bicyclists were killed in crashes with motor vehicles.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.