Tuesday October 3, 2023

China’s Cycling Market Projected to Reach $16.5B by 2026

  • China's bicycle market is expected to reach $16.5 billion by 2026.
  • Last year, the market was estimated to be worth $12 billion to $15 billion.
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The world’s second-largest economy has seen a major cycling boom as pandemic-related gym closures continue and people avoid crowds. 

China’s cycling market is expected to reach $16.5 billion by 2026, according to Research and Markets. That’s a significant bump from last year, when the sport’s market was estimated to be between $12 billion to $15 billion.

Cycling brands globally are feeling the benefits of the estimated 20 million people participating in the sport across China.

  • Compared to the same period last year, American bicycle brand Specialized reported 20% to 30% growth in its Beijing stores from March to June. 
  • He Dong, who oversees the Beijing franchised dealer of Specialized, says the growth would be double that number if it weren’t for a shortage of bike products. He added that for every model sold, at least 10 customers are waiting for their bike.

Feng Baozhong, vice president of the Chinese Cycling Association, expects cycling’s popularity to continue even after the pandemic, citing China’s growing affluence, the growth of the sports industry, and increased concerns about health.

“The pursuit of health will not vanish, so I think there is a good prospect for the sustainability (of cycling),” Feng said.

Around the World

Research and Markets projects the global bicycle market to reach $78 billion by 2026, up from $54.7 billion in 2020. The estimation is attributed to technological advancements, growing global health awareness, and rising fuel/energy prices, among other reasons.

The U.S. market was estimated at $9.5 billion in 2021.

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