IMARC Group has recently released a new research study titled “South Korea Bicycle Market Size, Share, Trends and Forecast by Type, Technology, Price, Distribution Channel, End User, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Bicycle Market Overview

The South Korea bicycle market size reached USD 1,280.60 Million in 2024 and is projected to reach USD 1,732.75 Million by 2033. It is expected to grow at a CAGR of 3.07% during the forecast period 2025-2033. The market's growth is driven by rising environmental concerns, urban planning developments, and increasing interest in recreational and fitness lifestyles, leading to broader demographic participation and steady product innovation.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

South Korea Bicycle Market Key Takeaways

• Current Market Size: USD 1,280.60 Million (2024)
• CAGR: 3.07%
• Forecast Period: 2025-2033
• The market growth is fueled by heightening environmental concerns, urban planning upgrades, and expanding interest in recreational and fitness lifestyles.
• Growing urban mobility and cycling infrastructure development including exclusive cycling lanes and bike-sharing systems are driving bicycle adoption.
• Increasing demand for technologically advanced bicycles such as electric and smart bikes with features like digital tracking and app integration.
• Recreational and leisure cycling activities are rising due to scenic bike routes and greater health awareness.
• Public health programs and transportation reforms support cycling becoming a mainstream mobility and leisure option.

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Market Growth Factors

Heightening emphasis on environmentally friendly urban mobility plays a critical role in boosting bicycle demand across South Korea. Local governments are actively expanding cycling infrastructure by increasing exclusive cycling lanes, implementing bike-sharing systems, and improving intermodal transit connectivity. For example, in May 2025, free bicycle repair shops sponsored by the Gyeonggi Provincial Government provided maintenance services to over 350 citizens across multiple branches. These public investments encourage cycling not only for leisure but also as a commuting alternative, particularly in dense urban centers, thus driving market growth.

The market is also witnessing a strong rise in demand for technologically superior bicycles equipped with features such as digital tracking, built-in lighting, and enhanced gear-shifting. Urban consumers favor performance-oriented and tech-enabled bicycles suited for endurance and daily commuting. Electrically assisted bicycles have become popular among both young and older demographics seeking convenience and efficiency. This trend towards technological convergence is reshaping consumer expectations and fostering innovation, particularly in premium and urban commuter bicycle segments, thereby contributing substantially to market expansion.

Recreational and leisure cycling activities are gaining traction nationwide, supported by scenic bike routes and increased awareness of physical health benefits. Families and individuals increasingly participate in weekend and holiday cycling as a form of relaxation and exercise. The diverse South Korean landscape, ranging from riverside paths to hilly terrains, appeals to casual riders and cycling enthusiasts alike. The growth of cycling tourism and eco-tourism activities further expands market demand, especially for road, mountain, and hybrid bicycles suited for mixed terrains. This segment's rise supports the overall strength and diversification of the South Korean bicycle market.

Market Segmentation

Type Insights:

• Road Bicycle: Includes bicycles designed for speed and efficiency on paved roads.
• Mountain Bicycle: Suited for off-road and rugged terrain cycling.
• Hybrid Bicycle: Combines features of road and mountain bikes for versatile use.
• Others: Covers additional bicycle types not classified above.

Technology Insights:

• Electric: Bicycles powered or assisted by electric motors.
• Conventional: Traditional non-electric bicycles.

Price Insights:

• Premium: High-end bicycles with advanced features and materials.
• Mid-Range: Moderately priced bicycles balancing quality and affordability.
• Low-Range: Budget bicycles accessible to a broad consumer base.

Distribution Channel Insights:

• Online Stores: Digital platforms selling bicycles via e-commerce.
• Offline Stores: Physical retail outlets offering bicycles directly to consumers.

End User Insights:

• Men: Bicycles marketed and designed specifically for male users.
• Women: Bicycles catering to female consumers.
• Kids: Bicycles designed for children.

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Regional Insights

The South Korea bicycle market has been analyzed across major regions including Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others. Specific dominant regional market shares or CAGRs are not provided in the source. Regional infrastructure investments and urban cycling initiatives notably influence the markets within Seoul Capital Area and its metropolitan vicinity, reinforcing urban mobility trends.

Recent Developments & News

In January 2024, South Korean firm KooRoo officially launched its e-bike battery swapping station business with 140 stations established in Seoul at the time. The company plans ambitious expansion targeting 400 stations by the end of 2024 and an increase to 1,000 stations covering the metropolitan area by 2025. This initiative is boosting the city’s electric mobility infrastructure and facilitates increased adoption of electric bicycles.

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