Japan Bicycle Market Insights Forecasts to 2033

• The Japan Bicycle Market Size was valued at USD 2.35 Billion in 2023.
• The Market Size is Growing at a CAGR of 0.66% from 2023 to 2033.
• The Japan Bicycle Market Size is Expected to Reach USD 2.51 Billion by 2033.

The Japan Bicycle Market Size is Expected to Reach USD 2.51 Billion by 2033, at a CAGR of 0.66% during the forecast period 2023 to 2033.

Market Overview

A bicycle, also known as a bike, is a human-powered vehicle composed of a frame mounted with two wheels, one in front and one in back, linked by a pedal and chain system. It is a popular and efficient mode of transportation, valued for its simplicity and environmental friendliness. A bicycle's basic components include a frame, handlebars, wheels, tires, brakes, and gears. Bicycles are classified into three types: road bikes, mountain bikes, and hybrid bikes, each designed for a specific purpose and terrain. Bicycles provide numerous benefits, including being a cost-effective and environmentally friendly mode of transportation. They encourage physical activity and are an excellent way to reduce carbon emissions and traffic congestion in cities. Furthermore, bicycles are frequently used for recreational purposes, such as exercise or leisure cycling.

Report Coverage

This research report categorizes the market for Japan bicycle market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan bicycle market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan bicycle market.

Driving Factors

As pollution from gasoline-powered automobiles reaches new heights, the demand for faster and cleaner modes of transportation is creating new opportunities for bicycle manufacturers across the country. Meanwhile, green solution providers and manufacturers see this as an opportunity. Bicycle manufacturing companies in the country are taking advantage of these conditions to expand and grow their operations. A rise in disposable income and a surge in consumer spending on the industry are also driving growth in the bicycle market. Furthermore, increased demand for bicycles as a convenient mode of transportation to maintain a healthy lifestyle free of obesity and other illnesses is expected to fuel future market growth. As a result, dockless bike-sharing systems, which do not require a docking station, are gaining popularity. Users can use this method to detect and electrically unlock a bicycle in their immediate vicinity. Electric bicycles, or e-bikes, on the other hand, have the highest growth potential and will register an absolute incremental opportunity during the forecast period.

Restraining Factors

The widespread availability of alternative modes of transportation such as buses, trains, automobiles, and others are likely to stifle market growth. Trade restrictions on bike/cycle components and accessories in Japan is expected to impede production processes at the associated companies' production sites. Furthermore, due to the cost of the battery and technology, e-bikes are more expensive than scooters or motorbikes. As a result, higher electric cycle costs and a lack of charging facilities are expected to limit market growth.

Market Segment

• In 2023, the hybrid segment accounted for the largest revenue share over the forecast period.

Based on the type, the Japan bicycle market is segmented into mountain, road, hybrid, and others. Among these, the hybrid segment has the largest revenue share over the forecast period. A hybrid bike is a cross between a mountain and a road bike. As a result, they are ideal for urban road transportation and travel on various terrains. As a result, the growing popularity of hybrid bicycles due to their versatility is expected to drive segment growth during the forecast period.

• In 2022, the conventional segment accounted for the largest revenue share over the forecast period.

Based on the technology, the Japan bicycle market is segmented into electric and conventional. Among these, the conventional segment has the largest revenue share over the forecast period. The large market share can be attributed to a variety of factors, including lower repair and maintenance costs for conventional bicycles versus electric bicycles. Furthermore, while the bicycle has long been a convenient mode of transportation, it has recently emerged as a leading sporting and leisure activity, particularly among women. In terms of technology, conventional bicycles for women currently dominate the Japan bicycle market.

• In 2022, the regular segment accounted for the largest revenue share over the forecast period.

Based on the design, the Japan bicycle market is segmented into folding and regular. Among these, the regular segment has the largest revenue share over the forecast period. Regular bikes are the most common type of bike in the Japan. For short-distance commutes, a growing preference for regular bikes as an efficient and green mobility solution to fossil fuel-powered vehicles is driving segmental growth. Furthermore, low-cost regular cycles and their ease of availability are expected to drive segmental growth during the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan bicycle market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Accell Group
• Bridgestone Corporation
• Asahi Cycle Co., Ltd
• AKIBO corporation
• Shimano Inc
• Maruishi Cycle Ltd
• Bridgestone
• Fuji
• Avon Cycles Ltd.
• Cervelo
• Dorel Industries Inc.
• Giant Bicycles
• Merida Industry Co., Ltd.
• Specialized Bicycle Components, Inc.
• SCOTT Sports SA
• Trek Bicycle Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts country revenue from 2022 to 2033. Spherical Insights has segmented the Japan bicycle market based on the below-mentioned segments:

Japan Bicycle Market, By Type

• Mountain
• Road
• Hybrid
• Others

Japan Bicycle Market, By Technology

• Electric
• Conventional

Japan Bicycle Market, By Design

• Folding
• Regular