by Cycle tourism provides environmentally sustainable recreational activity, benefiting both physical and mental well-being. Cycling offers a low-impact means of exploring landscapes and sights at a relaxed pace compared to motorized transport. Tourists seeking eco-friendly vacation options are increasingly adopting cycling to discover new places in an immersive manner while minimizing their carbon footprint. Cycle networks developed by various regions cater to leisure and athletic cyclists by mapping out scenic routes with amenities and points of interest.
The global cycle tourism market provides economic opportunities for rural communities along cycling routes. Accommodations, dining facilities, equipment rentals and sightseeing experiences tailored for cycle travelers contribute to local enterprise and jobs. Cycling infrastructure stimulates activities in areas off the beaten path, distributing tourism revenues more widely. The cycle tourism industry also promotes active lifestyles and community wellness.
The global Cycle Tourism Market is estimated to be valued at US$ 147.25 Bn in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Eco-tourism is gaining momentum worldwide as a burgeoning trend. Cycle routes in scenic natural locales allow tourists to appreciate pristine environments in an immersive manner up close, motivating more travelers to pick cycling over other modes of transportation. Regional authorities increasingly recognize cycle tourism’s economic and community benefits, stepping up development of dedicated cycling paths, maps and services. Technological innovations also enhance the cycle tourism experience through integration of GPS navigation, live tracking and social media sharing into bicycles and cycling apps.
Porter’s Analysis
Threat of new entrants: The cycle tourism market requires large investments in infrastructure development such as cycling tracks and trails. This poses a barrier for new companies to enter the market.
Bargaining power of buyers: Individual buyers have low bargaining power due to availability of various cycling package options at different price levels. However, cycling groups have relatively higher negotiating power.
Bargaining power of suppliers: Suppliers of cycling equipment and accessories have moderate bargaining power due to availability of substitutes and presence of several established brands.
Threat of new substitutes: Alternate outdoor recreational activities like hiking, camping, kayaking present threat of substitution. However, high growth in health and fitness tourism mitigates this threat.
Competitive rivalry: The market is moderately competitive with top players differentiating based on service quality, cycling trail network and brand identity.
Key Takeaways
The Global Cycle Tourism Market Growth is expected to witness high over the forecast period. Europe currently dominates the market owing to presence of several scenic cycling trails in countries like France, Germany and Italy. The region is investing heavily in network expansion to promote sustainable tourism.
North America is another major regional market for cycle tourism led by the U.S. Cycle routes along the coasts and in national parks are gaining popularity. The region is focusing on infrastructure upgrades to make cycling a safe transportation alternative.
Key players operating in the Cycle Tourism Market are STERIS Corporation, Ecolab, Inc., TOMI Environmental Solutions, Inc., JCE Biotechnology, Fedegari Autoclavi SpA, Howorth Air Technology Ltd., Noxilizer, Inc. , ClorDiSys Solutions, Inc., Wales Group, Wenzhou Weike Biological Laboratory Equipment Co., Ltd. These players are focusing on development of new products and collaboration with local authorities to enhance the cycling experience.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
