Cycle Tourism Market to cross $264.5 Bn by 2032, Says
Selbyville, Delaware, Nov. 04, 2024 (GLOBE NEWSWIRE) —
The cycle tourism market valuation is predicted to exceed USD 264.5 billion by 2032, reported in a research analysis by Global Market Insights Inc.
As global health consciousness rises, activities like cycling and sports are gaining traction. The World Health Organization (WHO) underscores the benefits of such activities, noting their role in mitigating risks of diabetes, cardiovascular diseases, depression, and colon cancer. Yet, it’s concerning that physical inactivity ranks as the fourth leading global mortality risk, accounting for 3.2 million deaths annually and paving the way for non-communicable diseases like diabetes, stroke, and cancer.
Alarmingly, many nations are witnessing dwindling levels of physical activity. In this context, cycle tourism stands out as a compelling choice for health-conscious travelers, seamlessly merging travel with exercise. This trend is poised to significantly bolster the cycle tourism market during the forecast period.
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Market segmentation by gender reveals that males constituted approximately 60% of the market share in 2023, with projections suggesting they’ll surpass USD 150 billion by 2032. This male dominance can be linked to a pronounced inclination towards adventure and physically demanding pursuits. The surge in mountain biking, long-distance road cycling, and other rigorous cycling endeavors among male tourists underscores this trend. The competitive nature of cycling, coupled with an adventurous spirit, draws many men into the fold of cycle tourism market.
Tourism segmentation highlights adventure cycling, road cycling, mountain biking, leisure cycling, and more. In 2023, mountain biking claimed roughly 35% of the market share. Local governments and private entities are investing in trail networks, positioning their regions as prime spots for mountain biking aficionados. These initiatives encompass well-marked trails and essential amenities like repair services, bike rentals, and guided tours. Such infrastructure not only attracts seasoned mountain bikers but also entices newcomers, fueling the segment’s growth.
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Europe commanded a dominant 45% of the cycle tourism market share in 2023, with expectations of significant expansion through 2032. The continent boasts a robust cycling infrastructure, highlighted by dedicated bike lanes and extensive networks like EuroVelo. Nations such as the Netherlands, Denmark, and Germany are celebrated for their cyclist-friendly urban landscapes, making bike exploration both easy and enticing for tourists. This established infrastructure, coupled with Europe’s rich tapestry of cultural and scenic offerings — from France’s vineyards and Italy’s historical trails to Spain’s coastal routes — positions Europe as a premier destination for cycle tourism.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Market 3600 synopsis, 2021 – 2032
Chapter 3 Cycle Tourism Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Activity operators
3.2.2 Cycle travel agencies
3.2.3 Accommodation providers
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Most visited cycle tourism spots, by region
3.6 Patent analysis
3.7 Key news and initiatives
3.7.1 Partnership/Collaboration
3.7.2 Merger/Acquisition
3.7.3 Investment
3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Growing interest of people in health and fitness
3.9.1.2 Increasing investment in cycling infrastructure and dedicated bike trails.
3.9.1.3 Rising demand for eco-friendly and sustainable travel options
3.9.1.4 Expanding adventure tourism sector
3.9.2 Industry pitfalls & challenges
3.9.2.1 Inconsistent cycling infrastructure across regions
3.9.2.2 Seasonal dependency and weather conditions
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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