The global cycle tourism market size was valued at US$ 345.1 million in 2020 and is expected to hit over US$ 1,291.3 million by 2030 with a registered CAGR of 14.78% from 2021 to 2030.
The tourism activities for the purpose of leisure and pleasure and that incorporates cycle or bicycle is known as the cycle tourism. The bicycles are an integral part of the cycle tourism that offers a good travel experience to the cycle tourists. The soft cycling enables the tourists to enjoy the beautiful sceneries while the hardcore cycling offers physical fitness to the tourists. The growing focus of the government towards the development of cycle tourism is resulting in the development of the cycling infrastructure, which fuels the growth of the cycle tourism. The cycle tourism helps the small businesses in the rural areas to grow. The rising initiatives of the government to support the local businesses in the rural areas is compelling the government to boost the development of cycle tourism. The rising preferences of the tourists to indulge in the recreational, sports, adventure, and leisure activities are the major drivers of the cycle tourism. According to the cyclinguk.org, around 10% of the adults in UK participate in recreational cycling regularly. The growing participation of the population in the cycling activities is expected to foster the growth of the cycle tourism market.
The positive economic impact of the cycle tourism is encouraging the government to invest in the development of the cycle tourism friendly infrastructure. In Scotland, the cycle tourism contributes around US$ 131.8 million to US$ 268.7 million to the GDP annually. The cycle tourists spends heavily in the hotel stays, pubs, and cafes, which boosts the economic growth. Moreover, the health benefits associated with the cycle tourism and rising awareness regarding the cycle tourism among the population is expected to drive the growth of the cycle tourism market in the upcoming years. The rapidly growing health and wellness tourism across the globe is significantly impacting the growth of the global cycle tourism market.
Scope of the Cycle Tourism Market
|Market Size in 2020||US$ 345.1 million|
|Growth Rate from 2021 to 2030||14.78%|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Tourist Type, Age Group, Sales Channel, Geography|
|Companies Mentioned||World Expeditions, Spice Roads, Exodus, Intrepid, G Adventures, Himalayan Glacier Adventure and Travel Company, Sarracini Travel, Arbutus Routes, Austin Adventures|
Tourist Type Insights
Based on the tourist type, the couple segment dominated the market, accounting for around 50% of the market share in 2020. The couples prefer to adopt cycle tourism more as it considered as a good form of exercise. Cycling allows the couples to exercise and enjoy the scenic beauty of the destinations together. Moreover, the young couples engage into the cycling as a part of their adventure tourism.
On the other hand, the group segment is estimated to be the most opportunistic segment during the forecast period. The growing preferences for the young adults to engage into adventure activities in group is expected to foster the growth of the group cycle tourism market across the globe. A group of friends normally undertake tourism activities for enjoying the scenic beauty of the destinations at a low cost.
Age Group Insights
Based on the age group, the 31 to 50 years segment dominated the market in 2020. The rising demand for the recreational and leisure activities among this age group has fostered the growth of this segment. Moreover, the adoption of cycling under the 31 to 50 years age group as a form of indulging into physical activities owing to the health benefits of cycling has boosted the demand for the cycle tourism across the globe.
Sales Channel Insights
Company website segment dominated the global cycle tourism market as people in the developed markets like Europe prefer to book and plan their trips directly through the company’s websites. The advertisements and longer engagements on the company’s websites has resulted in the increased revenue for the market players. The consumers’ preference to eliminate the middlemen in order to reduce the cost is the major factor that has propelled the growth of this segment.
Europe was the dominant cycle tourism market in 2020. Europe is considered to be a key source market for the cycle tourism. European countries like Germany, Netherlands, and Denmark are the major countries popular for cycling. The availability of safe cycling routes, developed cycling infrastructure, good accommodation facilities for cyclists, and knowledgeable guides are the major factors that has driven the cycle tourism market in Europe. The growing popularity and rising number of cycle tourism participants in Europe is further expected to drive the market growth in the forthcoming future.
The e-bikes are trending in Europe. According to the CBI.eu, the sales of e-bikes is rapidly growing in Europe owing to the growing geriatric population. The sales of e-bikes is highest in Germany followed by the Netherlands and Belgium. The suitability of the e-bikes for holidays is expected to boost the cycle tourism in Europe in the foreseeable future. The e-bikes helps the tourists to easily cover long distances per day and the uphill route sections becomes easily accessible. Therefore, the e-bikes are expected to boost the accessibility of more destinations, which will positively impact the participation rate of the population in cycling in Europe.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
The various developmental strategies like partnerships, acquisitions, mergers, and new product launches fosters market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players in the global cycle tourism market include:
Segments Covered in the Report
By Tourist Type
By Age Group
By Sales Channel
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