USD 116.73 billion
Global Cycle Tourism Market Size, Share, Growth Analysis, By Groups(Groups/Friends, Couples), By Booking Mode(Direct, Travel Agents) - Industry Forecast 2024-2031
Report ID:
SQMIG25J2028 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|
Tables:
64 |
Figures:
75
Global Cycle Tourism Market Insights
Global Cycle Tourism Market size was valued at USD 116.73 billion in 2022 and is poised to grow from USD 127.35 billion in 2023 to USD 255.63 billion by 2031, growing at a CAGR of 9.10% during the forecast period (2024-2031).
Adventure tourism, which includes visiting new areas, off-road cycling and adventure spots all contribute to cycling tourism. Bicycles are becoming a preferred choice for mode of transportation for tourist destinations.
In the United States, sales of electric bikes increased by 144-145%, per data from the World Economic Forum (WEF), and are anticipated to continue growing in the years to come. Consumers are looking for e-bike activities as Governments in the tourist driven countries are progressing ahead with their initiatives to boost cycle tourism. For instance, Thailand invested USD 700 million to encourage domestic tourism, Vanuatu offered small and medium-sized businesses incentives to promote cycle tourism.
US Cycle Tourism Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Group/Friends
Fastest Growth
Group/Friends
Growth Rate
9.10% CAGR
Global Cycle Tourism Market 2021-2030 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Cycle Tourism Market Size By Group 2021-2030 ($ Bn)
Global Cycle Tourism Market Size By Group 2021-2030 (%)
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Global Cycle Tourism Market Segmental Analysis
Global Cycle Tourism Market is segmented on the basis of Group, Booking Mode, Age Groups and region. By Group, the market is segmented into Group/Friends, Couples, Solo, Family. By Booking Mode, the market is segmented into Direct, Travel Agent, Marketplace Booking. By Age Group, 18 to 30 Years, 31 to 50 years, above 50 Years. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cycle Tourism Market Analysis by Group
The group segment dominated the global market in 2022. As interest in outdoor recreational activities as a part of physical activity and sustainable travel has increased, so has the demand for bicycle tourism among different visitor demographics. To reach these groups, tour operators partner with local clubs to organize a variety of cycling activities, such as fundraising or charitable endeavors, which has increased cycling involvement in terms of tourism.
The solo cycle travel market is anticipated to grow at the fastest CAGR. Just 14% of travelers, according to data from Booking.com, travelled alone in mid-2021; however, that number had nearly quadrupled to 23%. Also, a stunning 761.15% more people were searching for solo travel, per Google Trends. Tour operators aim to profit from the trend of solo travel by setting up solo tours, containing a variety of daring activities and offering special discounts only for solitary travelers. This has aided the market's continued expansion.
Cycle Tourism Market Analysis by Booking Mode
In 2022, the direct booking sector dominated the global market. Around 60% of the revenue share came from it. The growth is mostly fueled by rising internet and credit card usage, rising consumer spending power, and government efforts to promote environmentally friendly travel. Technology innovation and the rising use of mobile devices are creating simple and efficient ways to make travelling simple and pleasurable, which is driving the growth and development of direct travel booking.
Over the forecast period, the marketplace booking market is projected to grow at a CAGR of 9.9%. The expansion of marketplace booking is anticipated to be fueled by a shift in consumer behavior towards online booking services as a result of the extensive selection of tour packages offered, the simplicity of choosing different services, and the expanding power of social media. Moreover, the market is anticipated to be driven by evolving consumer buying habits, advancing urbanization, and advancing digital technology.
Global Cycle Tourism Market Size By Group 2021(%), 2022 (%)
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Global Cycle Tourism Market Regional Insights
In 2022, Europe dominated the global market. Demand for bike tourism has increased significantly in the UK, Germany, France, and other economies. Establishing bicycle lanes, creating car-free city centers, expanding bike storage options, and improving safety are all top concerns for European governments.
The Asia Pacific region is anticipated to grow at the fastest CAGR. The market is expanding due to regional governments placing more emphasis on developing the cycling tourist industry due to its financial benefits.
Global Cycle Tourism Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Cycle Tourism Market Dynamics
Cycle Tourism Market Drivers
Growing interest in sustainable tourism to contribute to the market growth.
- As travelers become more conscious of the impact of their travel on the environment, they are seeking out more sustainable and eco-friendly ways to explore new destinations. Cycling is a perfect fit for sustainable tourism, and good for health. Therefore, fitness enthusiasts prefer cycling at tourist places as a healthy measure.
- Many travelers are seeking out more active and immersive experiences, and cycling offers an exciting and challenging way to explore new destinations. Cycling can take travelers off the beaten path, allowing them to discover hidden gems and experience the local culture and environment in a unique and authentic way.
Cycle Tourism Market Restraints
Lack of cycling infrastructure to confine the market growth.
- While many destinations are investing in cycling infrastructure, there are still many parts of the world that do not have adequate cycling facilities, such as bike lanes and cycling trails.
- This can make it difficult and unsafe for cyclists to explore these areas, and can limit the growth of cycle tourism in these regions.
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Global Cycle Tourism Market Competitive Landscape
SpiceRoads Cycling, World Expeditions, Travel + Leisure Holdco, LLC, Exodus Trips Limited, Intrepid Travel, Himalayan Glacier Adventure, Sarracini Travel, Arbutus Routes, and Austin Adventures are a few of the well-known businesses operating on the international market. These important businesses are concentrating on making significant strides to improve their market positions and provide travellers worldwide with genuine and engaging travel experiences.
Cycle Tourism Market Top Player’s Company Profiles
- Trek Travel
- Butterfield & Robinson
- Exodus Travels
- Backroads
- DuVine Cycling + Adventure Co.
- Pure Adventures
- Ride and Seek
- SpiceRoads Cycling
- Great Explorations
- Ride International Tours
- Cycling Country
- La Fuga
- Biking Tours Portugal
- Pedal Portugal
- Peak Tours
- Saddle Skedaddle
- Cycle Catalan
- BikeTours.com
- Cycle Cities
- VBT Bicycling and Walking Vacations
Cycle Tourism Market Recent Developments
- In December 2022, the new U.S. adventure travel packages from Intrepid Travel were released. The new journeys combine physical outdoor activities like cycling and walking with itineraries that emphasize sight-seeing and dining.
- In March 2022, to draw cyclists to India and provide them the chance to spend time cycling around numerous locations, the Tamil Nadu Tourist Development Corporation (TTDC) established heritage cycling tours.
Global Cycle Tourism Key Market Trends
- Shift in Perception: Because cycling tourism makes up a small portion of tours, fewer visitors spend as much money doing it, which results in less money for travel agencies. The top travel agencies have developed brand-new itineraries that incorporate a full cycling tourism package as well as enhancing riders' knowledge of geography, history, and biology by giving them access to knowledgeable tour guides.
- Trend of Staying Healthy: Cycling is gaining a huge momentum in urban cities owing to the trend of staying fit and healthy.
Global Cycle Tourism Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global cycle tourism market analysis, the market is driven by increasing popularity of cycling as a recreational activity, particularly among health-conscious individuals and environmentally conscious travellers. Additionally, the rise of bike-sharing programs and the development of cycling infrastructure in many countries have also contributed to the growth of the market. Overall, the global market is expected to see continued growth in the coming years, driven by factors such as increasing demand for unique travel experiences, rising interest in cycling as a recreational activity, and the development of cycling infrastructure in many countries.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 116.73 billion |
| Market size value in 2031 | USD 255.63 billion |
| Growth Rate | 9.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cycle Tourism Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cycle Tourism Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cycle Tourism Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cycle Tourism Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cycle Tourism Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cycle Tourism Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Cycle Tourism Market Report Snapshots
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