Global Cycle Tourism Market Size To Exceed USD 266.4 Billion by 2033 | CAGR of 7.71%
Category: Consumer GoodsGlobal Cycle Tourism Market Size To Exceed USD 266.4 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Cycle Tourism Market Size Expected to Grow from USD 126.8 Billion in 2023 to USD 266.4 Billion by 2033, at a CAGR of 7.71% during the forecast period 2023-2033.
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Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cycle Tourism Market Size, Share, and COVID-19 Impact Analysis, By Type (Groups/Friends, Couples, Family, Solo), By Age Group (18 to 30 Years, 31 to 50 Years, above 50 years), By Channel of Sales (Direct, Travel Agent, Marketplace Booking), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/cycle-tourism-market
Cycling for leisure is referred to as "cycle tourism," and it provides a range of amenities like bike rentals, hotels, guided tours, and eateries that welcome cyclists. This sector of the economy caters to both short day trips and extended excursions, offering travellers the opportunity to see a range of landscapes, from scenic roadways to challenging hiking trails. The widespread use of e-bikes is increasing the accessibility of cycling tourism and attracting riders of all fitness levels. This market is divided into four segments: road cycling, mountain biking, family cycling, and touring. The growing desire for sustainable and eco-friendly travel options is the primary driver of the market's expansion. Furthermore, the growing popularity of health and wellness tourism is contributing to the popularity of cycling as a recreational activity that encourages outdoor involvement and physical fitness. However, safety concerns have a negative impact on the bicycle tourism business since they affect travellers’ decisions about where to go. Cycling can be hampered by a number of issues, including high traffic, poor road conditions, and the possibility of unpleasant encounters with other motorists.
The groups/friends segment is expected to hold the largest share of the global cycle tourism market during the anticipation timeframe.
Based on the type, the global cycle tourism market is categorized into groups/friends, couples, family, and solo. Among these, the groups/friends segment is expected to hold the largest share of the global cycle tourism market during the anticipation timeframe. Friends and Groups As part of cycle tourism, a group of friends or individuals with similar interests can go together and enjoy riding and destination exploration. It provides a chance for friendship, mutual experiences, and the ability to take advantage of cycling routes and activities in a social context. Couples cycle tourism is a romantic and exclusive vacation experience that involves riding a bike together.
The 18 to 30-year segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the age group, the global cycle tourism market is categorized into 18 to 30 years, 31 to 50 years, above 50 years. Among these, the 18 to 30 years segment is expected to grow at the fastest CAGR during the anticipation timeframe. An important market for cycling tourism is young individuals seeking adventure, discovery, and social connection. This group is particularly concentrated in the 18–30 age range. The opportunity to travel to new locations, meet new people, and participate in interesting cross-cultural interactions is what drives this group.
The direct segment is predicted to dominate the global cycle tourism market during the anticipation timeframe.
Based on the channel of sales, the global cycle tourism market is categorized into direct, travel agent, and marketplace booking. Among these, the direct segment is predicted to dominate the global cycle tourism market during the anticipation timeframe. Through direct sales, tour operators can tailor their offers to each customer's needs and tastes, resulting in individualized riding experiences. By means of this direct correspondence, tour guides can address any queries or worries and provide thorough details regarding cycling routes, accommodation options, and tour schedules.
Europe is projected to hold the largest share of the global cycle tourism market over the anticipation timeframe.
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Europe is projected to hold the largest share of the global cycle tourism market over the anticipation timeframe. The UK, Germany, France, and other economies have seen a sharp increase in the number of bicycle tourists. Europe is home to extensive networks of bike lanes, routes, and trails. This infrastructure, which places a high priority on the comfort and safety of cyclists and is typically isolated from vehicular traffic, makes it simpler to explore. Cycling is a popular way to travel around, pass the time, and engage in sports throughout Europe.
North America is expected to grow at the fastest CAGR growth of the global cycle tourism market during the anticipation timeframe. To promote sustainable tourism, North American nations are investing heavily in cycling infrastructure, such as bike lanes and trails. North America aims to boost eco-friendly travel choices and cycling as the major mode of transportation for both locals and visitors by making targeted investments.
Major vendors in the global cycle tourism market are SpiceRoads Cycling, Sarracini Travel, Arbutus Routes, Intrepid Travel, REI Adventures, Ride and Seek, Austin Adventures, World Expeditions, Travel + Leisure Holdco, LLC, Exodus Travels Limited., Intrepid Travel, G Adventures, Himalayan Glacier Adventure and Travel Company, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In July 2023, Ride & Seek purchased Cycle Japan, a Japanese bicycle travel company. Their range of bike excursions has grown as a result of the acquisition, and they now provide a longer Samurai Tour that stops at both traditional Japanese inns and historical sites.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global cycle tourism market based on the below-mentioned segments:
Global Cycle Tourism Market, By Type
- Groups/Friends
- Couples
- Family
- Solo
Global Cycle Tourism Market, By Group
- 18 to 30 Years
- 31 to 50 Years
- above 50 years
Global Cycle Tourism Market, By Channel of Sales
- Direct
- Travel Agent
- Marketplace Booking
Global Cycle Tourism Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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