Cycle tourism involves traveling and touring on bicycles. Cycle tourism offers numerous health benefits like improving cardiovascular health, reducing stress and obesity. It is an eco-friendly and sustainable mode of transportation that provides tourists opportunities to explore new destinations closely. The global Cycle Tourism Market is estimated to be valued at US$ 147.25 Bn in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased participation in cycle tourism has been a key trend driving market growth. More people are incorporating cycling into their travel plans as a way to explore destinations in a unique, active and sustainable way. Governments across regions have recognized the potential of cycle tourism in promoting local communities and economies. Several destinations have established dedicated cycling trails and infrastructure to make routes more accessible and attract cycling enthusiasts from around the world. This has motivated more individuals to participate in cycle trips and tours, whether for leisure or professional purposes. The growing popularity of cycling holidays and tours is expected to further boost the cycle tourism market during the forecast period.
Segment Analysis
Cycle tourism is dominating the tourism industry with its growing popularity among adventure seekers worldwide. The European region dominates the cycle tourism sector owing to its well-developed cycling infrastructure and favorable weather conditions. Countries like Germany, France, Italy, and the Netherlands have dedicated cycling lanes, trails, and signage that attract a large number of domestic and international cyclists each year.
Key Takeaways
The global Cycle Tourism Market demand is expected to witness high over the forecast period of 2024 to 2031.
Regional analysis: The European region currently dominates the global cycle tourism market with over 35% share. Countries like Germany, Netherlands, Belgium, Denmark and France have invested heavily in developing dedicated cycling infrastructure. The region is poised to continue its dominance driven by growing cycling culture and promotion initiatives by local tourism boards to attract adventure tourists. Asia Pacific is emerging as the fastest growing regional market for cycle tourism. Countries like China, Japan, India, and Vietnam are witnessing year on year growth in the number of domestic and international cyclists arriving in the region. Rising income levels and growing health awareness is expected to drive the demand for cycle tourism in Asia Pacific.
Key players operating in the Cycle Tourism market are STERIS Corporation, Ecolab, Inc., TOMI Environmental Solutions, Inc., JCE Biotechnology, Fedegari Autoclavi SpA, Howorth Air Technology Ltd., Noxilizer, Inc., ClorDiSys Solutions, Inc., Wales Group, and Wenzhou Weike Biological Laboratory Equipment Co., Ltd. STERIS Corporation and Ecolab, Inc. are the largest players dominating the market owing to their diversified product portfolio and strong global distribution network. While TOMI Environmental Solutions, Inc. and JCE Biotechnology have strong focus on the Asian markets.
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