Global Cycle Tourism Market is valued at USD 311.64 Billion in 2020 and is expected to reach USD 681.23 Billion by 2026 with the CAGR of 13.95 % over the forecast period
Scope of the Report
Cycle tourism is an ecological form of tourism with minimum impact on the environment and the local community. Cycling and cycle tourism promotion and development can take advantage of the existing, but mostly unused infrastructure, such as side and country roads, and unused railroads. Cycle tourism has seen a remarkable growth, thus representing a valuable market – a cycle tourist is ranked in the category of above-average consumer.
This report analyses the Global Market for Cycle Tourism. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Impact of COVID-19 on Global Cycle Tourism Market
Traveling is the most entertaining way to meet strangers and explore new places if the route is free of illness, crime, and catastrophes. However, most of the time, with the right know-how, the risks can be minimized or mitigated, and the travel diaries fill up with unforgettable experiences. Epidemics and pandemics are two of the most terrifying news for travelers or planners. In such cases, it may be difficult or impossible to avoid the disease. Further, not only the travelers but also other people they contact during the journey are at risk. Passengers play a serious role in the transfer of epidemics or pandemics between locations. In recent months, the world is focused on epidemics due to the emergence of a new coronavirus.
Round the world, the number of people walking and cycling has risen to unprecedented levels during the COVID-19 pandemic. For example, the number of kilometers travelled by bike in Switzerland doubled during the country’s partial lockdown, while counting stations in Philadelphia saw the number of cyclists increase by an average of 150%. Government leaders are currently taking steps to encourage this development through new infrastructure projects and funding, such as the UK government’s new GBP 2 billion [USD 2.5 billion] proposal to improve and expand pedestrian and cycling infrastructure domestically.
In association to other sectors, cycling could generate more local jobs and more jobs for workers with lower qualification levels. Compared to highway projects, investments in cycling infrastructure create more jobs per dollar spent. Promoting active transportation is also an opportunity to boost property values and retail revenues, encouraging an economic recovery from the crisis and assisting develop livable, equitable, and healthier communities.
1.Arizona Outback Adventure
5.Colombia Bike Tours
9.Fresh Tracks Canada
Above mentioned companies were scrutinized to assess competitive landscape of Global Cycle Tourism Market. Report provides company profiles of each player. Each profile include company product portfolio,business overview, company governance, company financials, business strategies, manufacturing locations and production facilities, company sale, recent developments and strategic collaborations & partnerships, new product launch, company segments, application diversification and company strength and weakness analysis.
Review Period: (2015-2027)
•Historic Period: 2015 to 2020
•Forecast Period: 2021 to 2027
•Base Year: 2020
•Unit: USD Billion
This Cycle Tourism Market report provides insights on new trade regulations, market size, regional and segment market share, service analysis, impact of Covid-19 on, key regions, untapped markets, continuous innovations and developments in the market.
Inclination toward healthy lifestyle and leisure
Growing adoption of cycles as a form of leisure activities and high preference for bicycles as a convenient form of exercise to ensure a healthy life, free from obesity and other disorders.
Favorable Government Initiatives
Active involvement of government in various countries, meant to improve participation rate, is playing a key role in driving the market in the last few years. As, in April 2017, the United Kingdom government has published its GBP 1.2 billion long-term plan to make cycling and walking the preferred choice for shorter journeys.
Congestions in metropolitan cities
The growing traffic congestions and lack of parking space, predominantly in metropolitan cities, is encouraging people to consider bicycle commutation for short distances to save time. At the same time, various governments are extensively rolling out the infrastructure necessary to support bicycle commutation, thereby encouraging people to opt for bicycles.
Increasing awareness for conservation of environment
To safeguard the environment, avoid serpentine traffic and elevating fuel prices, promote overall well-being and health, and most importantly, reduce carbon footprint.
Various environmental organizations and activists are promoting sustainable ways of commuting through campaigns, spreading awareness amongst people, encouraging them to think of bicycle.
Better social media influence
Trending cycling tourism market has come from social media users because of the vlogs the social media influencers upload on YouTube, Facebook, Instagram, and other social media sites. The millennials are attracted more towards adventure tourism by seeing the fun and exhilaration involved in the video. Furthermore, several social media pages for cycling tourism gather interested people forms group and book plans for the interested riders.
Inclination towards bike shares and bike rentals
The “bike share” systems is extensively increasing trend, Offers provision to users to pick up a bike at one docking station and ride it over a short distance to another docking station. Tourists are progressively using these convenient, inexpensive systems to sightsee and run errands; in greater systems such as Washington, DC’s Capital Bike Share, tourists make up as much as 20% of all rides.
Time and effort in planning a cycling trip
It is very difficult to start a well-planned tour without the proper guidance from the professionals, there needs to be an agency to take through this challenges.
To give good experience to the travellers, there needs to be a well experienced and knowledgeable guide to take them throughout the tour, knowledgeable on topics such as first aid and bicycle repair. They should also be able to share information about the local nature and culture. It is very difficult get the right match.
Safety is important to travellers, especially because some developing countries are politically unstable. Most commercial tour operators do not offer holidays to countries that their Ministry of Foreign Affairs has declared unsafe. This has previously led to a drop in tourism arrivals to countries such as Mali, Egypt and Kenya.
Recent Developments in the Global Cycle Tourism Market
Fitness and Nutrition Companies to Combine in $3 Billion SPAC Merger
Beachbody will combine in a three-way merger with blank-check company Forest Road Acquisition Corp. and Myx Fitness, which makes connected bicycles
ECF and Eco-Counter join forces to communicate EuroVelo data
The European Cyclists’ Federation (ECF) and Eco-Counter have signed the first ever Memorandum of Understanding (MoU) between the two organisations. The agreement will see the two work together closely in collecting, analysing and communicating data related to the EuroVelo network on the European level.
Adventure tour operator Exodus Travels has acquired its sister company, self-guided holiday specialist Headwater Holidays
Announcing the purchase, Exodus issued a statement noting “huge potential for growth within the self-guided market” that the deal represented. Founded in 1985, Headwater Holidays operates self-guided trips, predominantly to European destinations. Itineraries are for all levels of fitness, with walking, cycling, winter cross-country skiing and activity holidays available. Both Exodus Travels and Headwater are Association of Touring and Adventure Suppliers (ATAS) members and part of the Travelopia group, the collection of specialist travel brands once owned by travel industry giant TUI, which sold the group in February of last year to KKR (Kohlberg Kravis Roberts & Co L.P.) a New York City-based private equity firm.
Industry veteran Tony Karklins and partner buy Time Sport from Rossignol
The Rossignol Group has sold Time Sport's frame and bike business to the Cardinal Cycling Group, whose partners include French engineer Martial Trigeaud and American Tony Karklins, who is the founder of Allied Cycle Works and the former managing director of Orbea USA.
Pocket Outdoor Media acquires Rock and Ice, Trail Runner, and Gym Climber
Pocket Outdoor Media — the owner of BRAIN, VeloNews, Triathlete, VeloPress, VeloSwap, and Rol Massif in the cycling world — is expanding its portfolio to acquire Rock and Ice, Trail Runner, and Gym Climber magazines, all formerly produced by Big Stone Publishing.
Trek buys Mike Olson's retail empire, with stores in California, Oregon and New Mexico
Trek has agreed to buy at least a dozen of Mike Olson's bike shops, including the six Trek Bicycle Superstore locations in the San Diego area and in Albuquerque, New Mexico, one Nytro Multisport store in Encinitas, California, and the six-store Bike Gallery chain in the Portland area.
•North America: U.S., Canada and Rest of North America
•Europe: UK, France, Germany, Italy, Spain and Rest of Europe
•Asia Pacific: China, Japan, India, Australia, Southeast Asia and Rest of Asia Pacific
•Latin America: Brazil, Mexico, Argentina and Rest of Latin America
•Middle East and Africa: Gulf Countries, Israel, Africa and Rest of Middle East and Africa
•Channel of Sales
oDirect Company Website
On the basis of type Global Cycle Tourism Market is divided into solo, friends, group, couple and family. Solo segment dominated the Type segment and was worth of USD 155.78 Billion in 2020 and it is expected to reach USD 344.54 Billion in 2026.
On the basis of Age group Global Cycle Tourism Market is divided into s 18–30 Years, Above 30 and Above 50. Above 30 segment lead the Type segment and was worth of USD 170.82 Billion in 2020 and it is expected to reach USD 373.07 Billion in 2026.
Cycling Tour is also dividing by age group. In 18-30 ages group the participant are mostly college students, school student, teenagers etc. In European Countries has 82% of touring cyclists are college student for education point of view. Cycling Touring Company organizes the tour for colleges, corporate employees. Cycling Tour typically conducted with a large group of people by Cycling Touring Company. Guides are also provides to the tour, who is navigate all of members.
Cycling Touring Company organizes the tour for 30-50 ages group. Participant in this age group are mostly tourist who explore the entire destination by biking. Cycling Touring Company can arrange all the accommodation for the tour. In that age Group, international tourists are widely participating.
Average age of Cycling is 52 in the European Countries. Above 50 ages group are not generally participating in mounting cycling and another high energy activities. Therefore Cycling Touring Company organizes the tour for above 50 ages group is different than another group of ages. In that group of cyclist are mostly participate in ground cycling.
The channel of sale segment includes Direct Company Website, Travel Agents and Social Media. Travel Agents segment dominated the Application segment and was worth of USD 134.28 Billion in 2020 and it is expected to reach USD 293.83 Billion in 2026.
•An overview of the Global Cycle Tourism Market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global Cycle Tourism Market revenue data historic and forecast analysis (2015 to 2027)
•Characterization and quantification of the market segments for Cycle Tourism market
•Market share analysis of key market participants and their competitive landscape
Important Questions Answered By Global Cycle Tourism Market Report
•What is the impact of COVID 19 epidemic on the Global Cycle Tourism Market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the Global Cycle Tourism Market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within Cycle Tourism Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?