In a global village, it comes as no surprise that a Korean cycle with Japanese components, Taiwanese Tyres, American Suspension, and an Indian frame can be assembled in Lithuania. Even though the cycle is a primary mode of transport & income source for considerable Indians, the industry relies heavily on imports. According to the report- India Bicycle Market Outlook, 2026 published by Actual Market Research, the market was recorded at a value of INR 5020.87 Cr., in the year 2014-15. Besides being a mode of transport, a cycle is now considered a popular form of recreation, thus growing from regular roadster cycles to multi-gear super-premium cycles. Acceptance of the cycle as a sustainable form of commutates and increasing interest in professional cycling is expected to allow the market to grow with a CAGR of over 14% during the forecasted period. India was the fourth largest producer of bicycles after China, the USA, and Japan from 1978 to 1991. It outsmarted the USA and Japan in 1992 to become the second-largest producer of bicycles in the world.

The cycle market has domination of fancy bicycles, considered a part of young teenagers' daily life. The standard bicycles hold a share of over 50%, in volume hugely derived through the demand from the government towards the welfare schemes. Currently focusing towards the eastern region, the least contributing region is expected to show a marginal change in the value share over the forecasted period, reaching a share of less than 17%. Being an inevitable part of rural India, the highest share of approximately 60% in volume terms is gained from the region. The standard bicycles hold the highest share among the others, while the fancy cycles are slowly making their way to the market, with an increase in the affordability of the same. The standard full size wheel rim of 26 inch holds the highest share in terms of both value and volume. Even though considered obsolete by many, the segment held an eminent share of more than half of the market during the period 2019-20. The key domestic players in the bicycle industry are Hero Cycles, Avon Cycles, TI Cycles, Atlas, Firefox Cycles, and Starkenn Sports.

The top two players together make up approximately 30% of the market revenues. The bicycle companies are focusing on this niche but growing segment of recreational bicycles. Opinion influencers like Salman Khan and John Abraham have also influenced the population to a large extent.How it will help solving your strategic decision making processThe report gives an in-depth understanding of bicycle market in India:- Global Bicycle Market Outlook- India Bicycle Market Outlook- India Standard/ Mass Bicycle Market - India Fancy Bicycle Market - India Kids Bicycle Market - India Premium Bicycle Market - India Super-premium Bicycle Market - Product Price & Variant Analysis- Market Dynamics (Trends and Challenges)- Competitive Landscape & Strategic RecommendationsThis report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry..