The Global Cycle Tourism Market Growth is Accelerated by Upsurge in Specialized Cycling Equipment Adoption

 

Cycle tourism involves travelling to a place with the intent of cycling and exploring the destination. It provides an eco-friendly transportation option and a chance to experience new destinations in an immersive manner up close. Cycle tourists can explore local cultures, landmarks, cuisine and scenic routes while keeping fit. Cycling equipment such as gears, brakes, frames, wheels and clothing have advanced tremendeously in the past few years with latest lightweight materials, adding to the recreational appeal of cycle tourism.

The global Cycle Tourism Market is estimated to be valued at US$ 127.82 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The upsurge in adoption of specialized cycling equipment tailored for recreation and mountain terrain navigation has accelerated the growth of cycle tourism market. Manufacturers have invested heavily in research and development of high performance lightweight gears, brakes, ergonomic frames, durable wheels and breathable technical fabrics. This has made cycling a viable recreational activity for masses and opened up scenic trail routes even in toughest of terrains. The availability of latest gear systems suitable for all weather and geography has boosted confidence of amateur cyclists to explore longer multi-day cycling adventures. The development is expected to further drive the interest in cycle tourism going forward.

Segment Analysis
The global cycle tourism market is segmented on the basis of type into mountain/road bicycling, adventure/touring, and others. The mountain/road bicycling segment dominates the market and accounts for around 45% share of the global cycle tourism market. This is because mountain/road bicycling offers adventure, excitement, and an opportunity to enjoy scenic beauty in a healthy way which attracts a large consumer base globally.

Key Takeaways
The Global Cycle Tourism Market Size is expected to witness high growth over the forecast period of 2023 to 2030. With health and wellness tourism growing rapidly, cycle tourism is emerging as a popular adventure activity. The market size is projected to increase from US$ 127.82 Bn in 2023 to reach over US$ 235 Bn by 2030, registering a CAGR of around 9.5% during the forecast period.

Regional analysis
Europe accounts for the largest share in the global cycle tourism market currently. Countries like Germany, France, Italy, and the Netherlands have well-developed cycling infrastructure which promotes cycle tourism. With growing awareness about health benefits, the number of cyclists is increasing rapidly in countries like the UK, Ireland making Europe the fastest growing regional market.

Key players
Key players operating in the cycle tourism market are Butterfield & Robinson, Backroads, Trek Travel, DuVine Cycling + Adventure Co., Exodus Travels, Intrepid Travel, TDA Global Cycling, Bicycle Adventures, Freewheel Holidays, Cycling for Softies. Butterfield & Robinson offers high-end customized guided bicycle tours globally. Backroads focuses on small-group tours and has a wide network across Europe, the USA, and Asia Pacific.

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