CYCLE TOURISM MARKET ANALYSIS

Cycle Tourism MarketSize and Trends

The global cycle tourism market size was valued at US$ 127.82 billion in 2023 and is expected to reach US$ 241.27 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.5% from 2023 to 2030.

The growth of the global cycle tourism market is driven by a number of factors, including:

• Rising awareness of the health benefits of cycling: Cycling is a low-impact form of exercise that is beneficial for both physical and mental health. As people become more aware of the health benefits of cycling, they are more likely to choose it as a form of transportation and recreation.
• Increased popularity of adventure tourism: Cycle tourism is a form of adventure tourism that allows people to explore new places and experience different cultures. As adventure tourism becomes more popular, the demand for cycle tourism is also expected to grow.
• Government initiatives to promote cycling: Governments in many countries are promoting cycling as a sustainable and healthy form of transportation. This is leading to the construction of more bike lanes and other cycling infrastructure, which is making cycling more accessible and attractive to tourists.
• Development of new cycling technologies: New cycling technologies, such as electric bikes, are making cycling more convenient and enjoyable for tourists. This is also contributing to the growth of the cycle tourism market.

Figure 1. Global Cycle Tourism Market Share (%), by Region, 2022

Cycle Tourism Market Trends

• Electric Bikes (e-bikes): The rise of e-bikes has revolutionized cycle tourism by making it more accessible. E-bikes help level the playing field, allowing people of different fitness levels to enjoy longer rides together. Their growing popularity has led to increased demand for e-bike rentals and tours.
• Gravel Riding: Gravel bikes, which are versatile and can handle a mix of terrains, have grown in popularity. This has led to a rise in gravel-oriented routes and events, allowing riders to explore off-the-beaten-path destinations.
• Bikepacking: A blend of mountain biking and minimalist camping, bikepacking has emerged as an adventurous form of cycle tourism. It emphasizes self-sufficiency and exploration, often in more remote or wild settings.
• Digital Integration: GPS navigation, route-sharing platforms, and mobile apps dedicated to cycle tourism have become indispensable. They allow riders to plan their routes, find accommodations, and share their experiences in real-time.