Cycle Tourism Market is Estimated to Witness High Growth Owing to Opportunity in Adventure Tourism

Mia Yates

Cycle Tourism Market is Estimated to Witness High Growth Owing to Opportunity in Adventure Tourism

Cycle tourism, also known as bicycle tourism, involves touring and vacationing with the use of bicycles. The recreational activity of cycle tourism provides a sustainable transport option for exploring new places and enjoying the scenery. Cycle tourism allows travelers to engage in adventure activities and connect with nature, while getting exercise and fresh air. The recreational activity of cycling is emerging as one of the most popular adventure tourism options globally.

The global Cycle Tourism Market is estimated to be valued at US$ 127.82 billion in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Increased preference for adventure tourism creates a huge market opportunity for the growth of cycle tourism. With rising health awareness and changing lifestyle preferences, adventure tourism in nature is witnessing strong demand among new-age travelers looking for unique experiences. Travelling by bicycle allows participants to engage in adventure activities and connect with natural surroundings in an eco-friendly manner. The mental and physical well-being benefits of cycling are also encouraging its popularity in adventure tourism. The shift towards experiential travel and demand for off-beat activities is expected to boost cycle tourism significantly over the forecast period.

Porter’s Analysis

Threat of new entrants: The cycle tourism market requires significant investments in equipment, licenses and safety certifications. Therefore, the threat of new entrants is moderate.

Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are many tour operators providing cycle tourism experiences. However, switching costs are low.

Bargaining power of suppliers: Equipment manufacturers and local suppliers have low bargaining power as there are many alternatives available.

Threat of new substitutes: Activities like hiking, boating are potential substitutes but cannot completely replace the experience of cycle tourism.

Competitive rivalry: The market is fragmented with many local and international players competing on the basis of customer experience, reputation and new routes/destinations.

SWOT Analysis

Strength: Cycle tourism appeals to adventure seekers and has minimal environmental impact. It provides an immersive cultural experience in various destinations.

Weakness: Steep terrain and remote locations pose safety risks. Infrastructure and support services are still developing in some regions.

Opportunity: Growing popularity of eco-tourism and fitness travel is increasing demand for cycle tours. Developing routes in undiscovered regions can attract new customers.

Threats: Economic downturns and risks from natural calamities can negatively impact the industry. Strict rules and regulations regarding operation of tours act as challenges.

Key Takeaways

The Global Cycle Tourism Market Size is expected to witness high growth on account of increasing health consciousness and adventurous travels. The Asia Pacific region currently dominates the market owing to popular cycling destinations such as Japan, Vietnam, Taiwan etc. Key players in the region are focusing on developing new multi-destination routes to tap into the vast potential.

Regional analysis indicates Europe to be the fastest growing regional market for cycle tourism fueled by favorable initiatives by governments in countries such as France and Italy. Cycling infrastructure and networks are continuously being enhanced in countries across Western Europe which will support market expansion.

Key players operating in the Cycle Tourism market are Butterfield & Robinson, Backroads, Trek Travel, DuVine Cycling + Adventure Co., Exodus Travels, Intrepid Travel, TDA Global Cycling, Bicycle Adventures, Freewheel Holidays, Cycling for Softies. The players primarily focus on leveraging advancements in E-bikes to attract new customers and expand into senior citizen demography. They also collaborate with local community organizations and authorities to develop immersive cultural experiences.

For More Insights, Read: https://www.newswirestats.com/cycle-tourism-market-demand-growth-and-regional-outlook-by-2030/

Mia Yates

Cycle Tourism Market Growth Accelerated By Increased Participation

Dhanesha Patil 2024-02-01

The global Cycle Tourism Market is estimated to be valued at US$ 147. The growing popularity of cycling holidays and tours is expected to further boost the cycle tourism market during the forecast period. Key TakeawaysThe 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. Get more insights on this topic: https://www.

Cycle Tourism Market Size is Estimated to Reach USD 1,291.3 million by 2030

Precedence Research 2022-04-19

The global Cycle Tourism Market size is predicted to account USD 1,291. A recent study by Precedence Research on the cycle tourism market offers a forecast for 2022 and 2030. The study analyses crucial trends that are currently determining the growth of the cycle tourism market. The study also provides the dynamics that are responsible for influencing the future status of the cycle tourism market over the forecast period. Contact Us: Precedence Research Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, CanadaCall: +1 9197 992 333Email: sales@precedenceresearch.

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Mia Yates 2024-01-18

The growing interest in wildlife tourism experiences has boosted the global Wildlife Hunting Tourism Market. The global Wildlife Hunting Tourism Market is estimated to be valued at US$ 449. The growing popularity of wildlife viewing is expected to drive the wildlife hunting tourism market substantially over the forecast period. Segment Analysis The global wildlife hunting tourism market is dominated by the hunting of large game sub segment. Moreover, large game hunting tourism generates significant revenue for countries involved.

Why Are Patients Turning to Medical Tourism?

Shivani 2022-01-20

Traveling overseas for surgery, on the other hand, has its own set of hazards. If you're considering a medical operation in another nation, here's what you should know about the advantages and disadvantages. Traveling overseas for surgery, on the other hand, has its own set of hazards. If you're considering a medical operation in another nation, here's what you should know about the advantages and disadvantages. This is not the same as undergoing an unforeseen procedure in a foreign country as a result of an unexpected illness or injury. com/blog/Why-is-Medical-Tourism-so-popular. html

Dark Tourism Market is Anticipated to Witness High Growth Owing to Emerging Interest in Places Associated with Death and Tragedy

Vedant B 2024-04-15

The dark tourism market refers to visits to places associated with death, suffering, disasters or the seemingly macabre. Interest in dark tourism has been growing in recent years as people seek emotionally engaging travel experiences outside the realm of conventional leisure tourism. The Global dark tourism market is estimated to be valued at US$ 38. This segment dominates the dark tourism market as people want to visit actual locations to witness and learn about historical events. Get more insights on Dark Tourism Market

U.S. Urea Cycle Disorders Treatment Market Is Estimated To Witness High Growth Owing To Increasing Focus on Rare Diseases

Pooja salve 2023-09-05

The U. The U. The market is driven by the increasing prevalence of UCD, growing awareness about rare diseases, and advancements in treatment options. This is due to the significant unmet medical needs of patients with rare diseases and the potential for innovative treatments. PEST Analysis: Political: The political landscape plays a crucial role in the availability and accessibility of UCD treatment options. This growth is driven by increasing awareness about rare diseases and advancements in treatment options for UCD.

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Globalization

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Globalization is a term which is used for over the years which increases the new technologies and new ideologies into our country.

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This report delves into the market drivers, PEST analysis, and SWOT analysis of the Cycle Tourism Market, highlighting key factors influencing its growth and development. The global cycle tourism market size was valued at US$ 127. Key players operating in the Cycle Tourism Market Butterfield & Robinson, Backroads, Trek Travel, DuVine Cycling + Adventure Co. , Exodus Travels, Intrepid Travel, TDA Global Cycling, Bicycle Adventures, Freewheel Holidays, and Cycling for SoftiesMarket Drivers:Several factors are driving the growth of the Cycle Tourism Market Size worldwide. Moreover, technological factors, such as the integration of digital platforms and mobile applications for route planning and navigation, enhance the accessibility and convenience of cycle tourism experiences, fostering market growth in the Cycle Tourism Market.

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