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Expected to reach a value of ,291.3 million by 2032, driven by millennials’ love for trendy mountain bikes and e-bikes at a CAGR of 14% – Market Research Blog

Expected to reach a value of $1,291.3 million by 2032, driven by millennials’ love for trendy mountain bikes and e-bikes at a CAGR of 14% – Market Research Blog

Expected to reach a value of ,291.3 million by 2032, driven by millennials’ love for trendy mountain bikes and e-bikes at a CAGR of 14% – Market Research Blog
Cycle tourism market

According to a recent market survey by Future Market Insights (FMI), the cycle tourism market is expected to reevaluate U.S. dollar 345.1 Million in 2022. Sales are expected to increase by a 14% CAGRwhile the market size increases $1291.3 Million by 2032.

The cycle tourism market is experiencing a resurgence, fueled by growing environmental awareness and a desire for healthy, active travel experiences. This press release explores the key trends driving the market forward:

Beyond Transportation: Cycling embraces leisure and exploration

Bicycles have transcended their utilitarian roots. Once seen as a means of transportation for the underprivileged, they are now a symbol of:

  • Environmental responsibility: Cycling offers a sustainable alternative to driving, minimizes the carbon footprint and promotes environmentally friendly exploration.
  • Health and fitness: Bike tours are a fun way to stay active and discover new destinations.
  • Technological advancement: Modern bicycles have innovative designs and features that improve comfort and performance.

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This shift in perception has paved the way for a booming cycle tourism market.

Sustainability on two wheels: a growing global trend

Environmental awareness is increasing, especially in emerging countries experiencing rapid economic growth. This awareness translates into a growing preference for sustainable travel options, with cycling tourism emerging as the leading trend:

  • Reduced impact on the environment: By choosing bicycles over cars, tourists can minimize their carbon footprint and embrace eco-friendly exploration.
  • Combating climate change: The widespread adoption of cycle tourism can contribute significantly to the fight against climate change and biodiversity loss.

This focus on sustainability has made cycle tourism a cornerstone of responsible travel practices.

E-bikes: boosting the adventure

The rise of e-bikes is another important driver in the cycle tourism market:

  • Overcoming physical limitations: E-bikes are intended for tourists with health or physical limitations, allowing them to participate in cycling adventures without unnecessary strain.
  • Hybrid functionality: Modern e-bikes offer the option of pedal assist or electric assist, offering flexibility and convenience for riders of all levels.
  • Improved range and exploration: E-bikes allow tourists to travel further and explore more challenging terrain, maximizing their travel experience.

These technological advances ensure that cycle tourism remains accessible and enjoyable for a wider range of travellers.

A bright future for cycling tourism: towards sustainability

The cycle tourism market offers promising prospects. With a growing focus on environmental responsibility, the popularity of healthy travel experiences and the increasing adoption of innovative e-bikes, the market is well positioned for further growth. As travelers embrace a more sustainable and active approach to discovery, cycle tourism is poised to lead the way to a greener and more fulfilling travel experience.

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“Increasing sustainability awareness and health consciousness among travelers are expected to benefit the cycle tourism market,” says an FMI analyst.

Key learning points:

  • Based on the type of tourism, Touring/Expeditie predicted that it would account for a dominant share of travelers in the market until 2032.
  • By booking channel, the online booking segment is expected to account for a notable share of almost ~60%.
  • In terms of age group, the demand for young people in the age group 15-25 years and 26-35 years will continue to increase until 2032.
  • Package-based cycle tourism travelers will continue to opt for group travel offers over normal travel offers.

Leading players in the cycle tourism market

  • Back roads
  • EcoBike
  • Escape adventures
  • DuVine Adventures
  • Butterfield and Robinson
  • World expeditions
  • Herbal ways
  • Exodus
  • Fearless
  • G-adventures
  • Himalayan Glacier Adventure and Travel Company
  • Sarracini trips
  • Arbutus trails
  • Austin Adventures

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Future Market Insights in its new offering provides an unbiased analysis of the cycle tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032. The research reveals compelling insights into cycle tourism by type (cycling, mountain biking, family cycling and touring/expedition) Booking channel (phone booking, online booking and in-person booking) Tourist type (domestic and international) Tour type (independent traveler, package travellers, tour group) Age group (15 -25 years, 26-35 years, 36-45 years, 46-55 years, 56-65 years, 66-75 years) and region – forecast until 2017 – 2032.

Cycle tourism market by category

By type, the cycle tourism market is segmented as:

  • Road cycling
  • Mountain biking
  • Family cycling
  • Touring/expedition

By booking channel, the cycle tourism market is segmented as:

  • Telephone booking
  • Book online
  • Personal booking

By tourist type, the cycle tourism market is segmented as:

By tour type, the cycle tourism market is segmented as:

  • Independent traveler
  • Tour group
  • Package traveler

By age group, the cycle tourism market is segmented as:

  • 15-25 years
  • 26-35 years
  • 36-45 years
  • 46-55 years
  • 56-65 years
  • 66-75 years

The cycle tourism market is segmented by region as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides deep insights into the driving factors driving demand in the market. FMI is the leading global provider of market information, advisory services, consultancy and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial and Chemical markets. With a vast team of more than 400 analysts worldwide, FMI offers global, regional and local expertise on diverse domains and industry trends in more than 110 countries.

Contact us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Business, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For sales questions: [email protected]
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