US Bicycle Market Size & Share 2026-2035

US Bicycle Market Size

The US bicycle market generated USD 9.2 billion in revenue and 21.99 million units in 2025. Revenue is projected to reach approximately USD 12.4 billion by 2035, while volume reaches 26.30 million units, implying CAGRs of approximately 2.9% and 1.80%, respectively, from 2026 to 2035.

The difference between value and unit growth reflects a mix shift toward electric, cargo, folding, and performance-oriented bicycles rather than a broad-based return to the exceptional unit demand seen during the pandemic.

The post-pandemic correction remains the industry's immediate operating context. US bicycle imports fell from more than 19 million units in 2021 to approximately 11.1 million in 2024 and an estimated 8.54 million in 2025, while import value fell below USD 1 billion for the first time since 2006 ^{[1]Bicycle Retailer, bicycleretailer.com}. That contraction has forced brands, distributors, and independent dealers to clear inventory accumulated during the 2020–2021 demand spike. PeopleForBikes reported that sales remained approximately 5% below the prior year on a year-to-date basis through mid-2025, although the sector was approaching its most balanced inventory position since before the pandemic ^{[2]PeopleForBikes, peopleforbikes.org}. The recovery therefore depends less on replenishment buying than on restoring dealer margins, improving sell-through discipline, and rebuilding confidence in ordering cycles.

Electric bicycles are central to the market's value expansion. Electric models represented 21.3% of market revenue, or approximately USD 1.96 billion, in 2025 and are projected to grow at a 7.83% CAGR through 2035. Conventional bicycles remain the larger category at USD 7.24 billion, but their 0.99% CAGR indicates a mature installed-base market. Direct channels have materially changed the sector's view of electric-bike demand: PeopleForBikes found that nearly one million e-bikes were bought or sold through measured direct-to-consumer and peer-to-peer channels in 2024, and 98% of measured DTC e-bike sales were throttle-equipped. The result is a two-speed market in which conventional bicycles retain relevance in children's, performance, and entry-price categories, while electrification raises revenue per transaction in utility and commuting use cases.

The supply chain has become more geographically dispersed but remains exposed to Chinese component capacity. China's share of US adult bicycle imports declined sharply after tariff-related sourcing changes, with Cambodia, Malaysia, Indonesia, and Vietnam taking a larger role in final assembly. Motors, batteries, controllers, and cells, however, are still concentrated in Chinese supply networks. Aventon stated in 2025 that a scalable domestic e-bike component supply chain does not exist and that alternative final-assembly routes can add more than 50 days to transit times. Tariffs therefore affect more than landed cost: they complicate model availability, purchasing schedules, warranty-part planning, and the timing of retail promotions. New tariff actions affecting both China and Southeast Asian sourcing countries intensified that uncertainty in 2025.

Digital capabilities are becoming a secondary competitive layer rather than a substitute for bicycle hardware. Trek's March 2025 launch of its Ride Club application, which combines ride tracking, route discovery, challenges, and technical support, illustrates how established brands are extending customer relationships after purchase. Connected features can strengthen service retention and improve maintenance communication, but their commercial importance is greatest where brands can connect app activity, dealer service, and replacement-part demand. They do not eliminate the core physical constraints of inventory, component sourcing, bicycle fit, or battery service.

State and local policy continues to shape the practical addressable market. New York's Complete Streets framework requires consideration of bicycle and pedestrian access in applicable transportation projects. Such rules do not create bicycle purchases directly; their effect is to lower perceived exposure to traffic and improve route continuity, conditions that matter most to occasional riders considering cycling for everyday trips. Sustainability is likewise becoming a product-design and supply-chain issue, particularly as e-bike battery stewardship gains importance. Trek's 2024 partnership with BioLogiQ on a plant-based-resin water bottle shows that accessory materials can provide an early route to circular-product positioning, although battery end-of-life management remains the more consequential long-term operational challenge for electric-bike brands.

That opportunity is conditional. E-bike penetration can raise average selling prices and broaden the rider base, but the category's component dependence creates a persistent cost and availability risk. Brands able to combine reliable component access with credible dealer service, direct digital engagement, and disciplined inventory planning are better positioned than those relying on price-led volume alone. Consumer incentives could accelerate adoption: Ipsos found that awareness of proposed e-bike tax incentives was limited, and most respondents did not know whether their state offered an e-bike rebate. Until incentives become more visible or widespread, product affordability and route safety will remain the principal conversion barriers.

Key Drivers

Urban commuting and active-transportation investment

Bicycle demand increasingly depends on whether riding is feasible for routine trips rather than whether consumers view cycling solely as recreation. The Census Bureau's 2024 commuting data showed an increase of approximately 124,000 workers who walked or bicycled to work as remote-work rates declined ^{[3]U.S. Census Bureau, census.gov}. This is commercially important because commuting users tend to value reliability, weather tolerance, cargo capacity, and service access, strengthening the case for e-bikes, cargo bicycles, and accessories instead of entry-level recreational products.

Infrastructure converts latent interest into repeat use. The Federal Highway Administration made USD 44.5 million available through the Active Transportation Infrastructure Investment Program in 2024 for connected active-transportation networks ^{[4]U.S. Department of Transportation, transportation.gov}. The US Department of Transportation also awarded USD 1.2 billion through the Safe Streets and Roads for All program in fiscal 2024; 94% of awards included safety benefits for bicyclists. Protected lanes, safer intersections, trail connections, and secure parking reduce the perceived risk that prevents occasional riders from using a bicycle for work, errands, or school trips. The purchase response is typically delayed, as riders first need evidence that a route is usable across seasons and trip purposes.

Participation across fitness, leisure, and utility use cases

The market has a wider participation base than retail sales alone suggest. PeopleForBikes identified 112 million Americans who rode a bicycle in 2024 and reported an 11% increase in youth participation after a multiyear decline. A larger rider population does not automatically produce immediate equipment demand, but it expands the conversion pool for replacement purchases, upgrades, family cycling, and electric assistance.

Mountain and trail riding add a differentiated participation driver. The Trust for Public Land identified approximately 8.7 million US mountain bikers aged six and above and more than 244,000 trails covering approximately 313,778 miles. Trail access supports demand for mountain bicycles and e-MTBs because access determines whether a higher-specification bicycle can be used often enough to justify its price. The category benefits from a mix of performance demand, outdoor recreation, and destination spending, which insulates it from the same demand patterns that govern commuter bicycles.

Channel digitization and hybrid purchasing

Online distribution is expanding faster than offline retail, but the strategic shift is toward hybrid purchasing rather than the disappearance of dealers. Direct-to-consumer sales accounted for approximately USD 1.2 billion of US bicycle sales in 2024, and nearly half of e-bike unit sales occurred through direct channels. Digital selling reduces barriers for brands that can acquire customers online, manage fulfillment, and provide remote product education. It is especially influential in throttle-equipped e-bikes, where consumers often prioritize price, range, and delivery convenience.

Premium and service-intensive categories still require local support. Dealer channels remain important for fitting, test rides, warranty handling, assembly, and maintenance. Trek's marketplace partnership with Locally integrates brand inventory and local dealer availability, allowing a consumer to begin online and complete the transaction through delivery or store pickup. That model addresses a critical tension: brands need direct demand signals and digital reach, while dealers need a role in service, fulfillment, and customer retention.

Public incentives and electric-bike adoption

Electric bicycles address the practical frictions of distance, terrain, cargo, and physical exertion. YouGov found that 31% of US adults were likely to purchase an e-bike within the next year and a further 23% would consider one in the future; respondents identified infrastructure and financial incentives as important enablers. The conversion path is particularly relevant for older riders, returning cyclists, and households considering whether a cargo e-bike can replace selected car trips.

The value proposition improves when incentives reduce the initial price gap with conventional bicycles. The policy effect is strongest when a rebate is visible at the point of purchase and paired with safe routes, dealer access, and product availability. Without those conditions, subsidies can generate interest without resolving the service and confidence barriers that determine whether a first-time buyer becomes a repeat rider.

Key Restraints

E-bike component concentration and tariff exposure

Final assembly diversification has not removed component dependence. Batteries, motors, torque sensors, controllers, and lithium-ion cells remain concentrated in Asian supply chains, particularly China. US brands therefore face a layered exposure: tariffs can apply to components even when final assembly has shifted to another country, while longer shipping routes increase lead times and complicate reorder planning.

The effect extends beyond manufacturer margins. A tariff-related price increase can delay a purchase in the price-sensitive middle of the market, especially when a buyer can defer an e-bike purchase without losing access to conventional transportation. Dealers are also exposed when popular models or replacement parts arrive late, because an unavailable battery or controller can turn a warranty event into a prolonged customer-service problem. Cost pass-through is more manageable in premium categories with strong service propositions than in direct channels competing on entry price.

High upfront price and uneven incentive awareness

High cost remains the clearest demand restraint for consumers unfamiliar with e-bike utility. YouGov found that 29% of Americans who had never used an e-bike identified cost as a barrier. Direct brands have reduced entry prices, but lower prices can shift risk into questions around component quality, assembly, warranty coverage, and access to qualified service. A low initial price is therefore not equivalent to a low ownership cost.

The industry faces a difficult near-term trade-off: absorbing cost pressure protects demand but weakens already compressed margins, while passing through higher costs protects gross profit but narrows the addressable market.

This favors a tiered market structure. Direct brands can use price and online discovery to enlarge the population of electric-bike users, while dealer-led brands can defend higher price points through fitting, technical support, warranty service, and premium components. The commercial risk lies in treating all e-bike demand as interchangeable. A family buying a cargo bicycle, a commuter seeking a throttle-equipped model, and a performance rider considering an e-MTB face different service expectations and price thresholds. Inventory, channel, and product decisions need to reflect those differences.

US Bicycle Market Segment Analysis

By Technology: Electric and Conventional

Electric bicycles generated approximately USD 1.96 billion in 2025 and are projected to reach approximately USD 4.33 billion by 2035. Their 7.83% CAGR is supported by use cases in commuting, utility transport, cargo carrying, and accessibility rather than by discretionary replacement alone. The measured DTC market shows why product architecture matters: throttle-equipped models dominate direct e-bike sales, indicating that many first-time and casual buyers value immediate assistance over a traditional pedal-assist riding experience.

The electric opportunity carries an execution requirement. Higher retail prices can improve revenue mix, but batteries, motors, and electronics increase bill-of-materials exposure, warranty complexity, and after-sales service requirements. Brands with dealer training, replacement-part availability, and reliable supplier relationships can capture more of the value created by electrification than brands competing only through an initial-price discount.

Conventional bicycles remain the largest technology segment at approximately USD 7.24 billion in 2025. Their slower 0.99% CAGR reflects maturity, not obsolescence. Children's bicycles, value-priced leisure products, road and gravel performance bicycles, and non-electric mountain bicycles retain clear use cases where lower weight, lower maintenance, or lower purchase cost outweighs electric assistance. The segment's main challenge is disciplined inventory management after the post-pandemic correction, rather than a wholesale substitution of conventional products.

By Product: Road Bicycle, Cargo Bicycle, Mountain Bicycle, Others

Road bicycles are the largest product segment at approximately USD 3.24 billion in 2025. Their 35.18% revenue share reflects the breadth of road, gravel, endurance, and performance-oriented formats. Gravel has widened the category's appeal by combining road efficiency with mixed-surface versatility. Trek's 2025 launches of the Checkmate gravel bike and Checkpoint+ SL e-gravel bike show that manufacturers see gravel as both a performance category and a route for electrification ^{[5]Cyclingnews, cyclingnews.com}.

Cargo bicycles account for approximately USD 2.76 billion in 2025. Their role is structurally different from that of road bicycles: cargo formats compete against selected car trips, not merely against other recreational equipment. Electric cargo-bike sales totaled roughly 38,500 units and approximately USD 100 million in 2024, according to PeopleForBikes. Household use for school runs and errands, alongside last-mile commercial delivery, creates demand for stability, payload capacity, battery range, and service support. Those needs favor brands and dealers that can explain fit, accessories, maintenance, and financing rather than simply merchandise a bicycle.

Mountain bicycles represent approximately USD 1.37 billion in 2025 and have the highest product CAGR at 3.65%. E-MTB adoption broadens trail access for riders who want longer rides or assistance on climbing-intensive terrain, while conventional models retain a strong role among performance-oriented consumers. PeopleForBikes reported that supplier inventory in the mountain category had declined 47% from its March 2023 peak by March 2024, indicating faster inventory normalization than in some adjacent categories. Better inventory balance can support new-product introductions and reduce the discounting that erodes brand positioning.

The Others segment, valued at approximately USD 1.84 billion in 2025, includes folding, BMX, recumbent, children's, and touring bicycles. Its 3.19% CAGR is supported by the faster growth of folding bicycles and youth participation. The segment is commercially diverse; brands should avoid treating it as a residual category because children's bicycles, transit-compatible folders, and specialty touring products have very different purchase channels and replacement cycles.

By Design: Regular and Folding

Regular-design bicycles account for approximately USD 8.64 billion, or 93.88% of 2025 market revenue. This category remains dominant because it includes road, mountain, cargo, and most electric formats. Its 2.47% CAGR is consistent with broad but mature demand across product types.

Folding bicycles account for approximately USD 0.56 billion in 2025, yet their 7.95% CAGR makes them the second-fastest-growing design segment. Their growth derives from a specific constraint: dense housing and transit-dependent travel make storage and portability part of the product's utility. Folding formats can bridge the first and last mile of a rail commute and reduce the need for secure exterior bicycle storage. The category therefore has particular relevance in dense Northeast and West metros, where a compact form factor can be worth more to the buyer than incremental performance.

By Distribution Channel: Offline and Online

Offline channels account for approximately USD 6.66 billion, or 72.43% of 2025 revenue. Their scale rests on services that remain difficult to replicate digitally, including fit consultation, test rides, assembly, maintenance, and warranty support. The independent bicycle dealer channel is especially important in premium road, mountain, cargo, and e-bike categories. The top 10 bicycle brands represented 84% of independent-dealer bicycle retail dollars in 2025, illustrating the concentration of brand power within specialty retail.

Online channels account for approximately USD 2.54 billion and grow at 4.45%, faster than offline channels. Online growth is not simply a shift in checkout location; it changes how brands acquire demand intelligence, finance purchases, launch products, and manage customer relationships. The risk is that direct selling can reduce local service capacity if dealers are excluded from the economics of delivery, assembly, and repair. Hybrid models that preserve dealer participation are likely to be more resilient in premium electric and performance categories.

By End Use: Men, Women, Kids

Men represent the largest end-use segment at approximately USD 4.81 billion in 2025. The segment's 2.23% CAGR is supported by participation in road, gravel, mountain, and higher-priced electric categories. YouGov reported that men account for 59% of US e-bike owners, consistent with the current male skew in ownership ^{[6]YouGov, yougov.com}. Growth will depend on maintaining performance and enthusiast demand while expanding into more utility-focused purchase occasions.

Women represent approximately USD 2.66 billion in 2025 and grow at 3.30%, faster than the men's segment. Product opportunity is tied to fit, comfort, stability, and use-case design rather than gender-specific marketing alone. Cargo bicycles are particularly relevant where households use them for child transport and errands, creating demand for accessible mounting, predictable handling under load, and family-oriented accessory systems.

Kids account for approximately USD 1.73 billion in 2025 and are the fastest-growing end-use segment at 4.06%. The increase in youth cycling participation reported by PeopleForBikes supports near-term demand for age-appropriate bicycles and longer-term participation continuity. This segment is more price sensitive and mass-merchant oriented than premium adult categories, making product safety, availability, and seasonal inventory planning more important than technology-led differentiation.

The most consequential divergence is between products that depend on service-intensive ownership and those that can be bought largely through digital discovery. Cargo and premium e-bikes create higher revenue per transaction but require stronger support after purchase. Folding and entry-level electric models can travel more easily through online channels, but price-led competition can compress margin and weaken local maintenance capacity. Manufacturers that align product complexity with channel capability will have a more defensible position than those that rely on broad category exposure alone.

US Bicycle Market Regional Analysis

Northeast

The Northeast generated approximately USD 2.01 billion in 2025, representing 21.89% of the US market, and is projected to grow at a 3.42% CAGR. New York accounts for 9.07% of regional revenue and grows at 2.49%, while the Rest of Northeast accounts for 90.93% and grows at 3.51%. Higher growth outside New York indicates that demand is broadening across smaller cities, suburban corridors, and recreational markets rather than being confined to the region's largest urban center.

New York's Complete Streets framework provides a policy basis for incorporating cycling access into transportation design. Dense development and extensive transit use make folding bicycles, commuter e-bikes, and cargo formats particularly relevant where riders need to combine cycling with rail, walking, or short urban trips. Massachusetts adds a distinct family and safety dimension: state law requires riders aged 16 and under to wear CPSC-certified helmets on public ways and requires bicycle rental businesses to make helmets available ^{[7]Massachusetts Legislature, malegislature.gov}. These requirements increase the importance of safety-product attachment and retailer compliance for youth and rental demand.

Midwest

The Midwest accounts for approximately USD 1.35 billion in 2025, or 14.72% of national revenue, and is the fastest-growing region at a 4.55% CAGR. Minnesota represents 7.05% of the regional market and grows at 3.69%, while the Rest of Midwest accounts for 92.95% and grows at 4.61%. The faster growth rate reflects a lower starting base alongside expanding urban cycling infrastructure and a substantial first-purchase opportunity among consumers who have not historically used bicycles for everyday transport.

Minnesota's bicycle laws require cyclists on roadways to travel in the direction of traffic, obey traffic controls, and use lights and reflectors at night ^{[8]Minnesota Department of Public Safety, dps.mn.gov}. In Minneapolis-Saint Paul, trail networks and urban cycling facilities support both recreation and commuting, creating demand across mountain, hybrid, and electric categories. Illinois provides another anchor through roadway rules governing bicycle positioning and riding two abreast. Chicago's density, transit connections, and large employment base make it a relevant market for folding, cargo, and commuter e-bikes. Flat terrain across many Midwestern cities also improves the economics of conventional commuting, while e-bikes extend the market to longer trips and less confident riders.

Southwest

The Southwest generated approximately USD 2.30 billion in 2025, or 25.03% of the market, and is projected to grow at a 2.79% CAGR. Florida represents 9.05% of Southwest revenue but has a 1.04% CAGR; the Rest of Southwest represents 90.95% and grows at 2.86%. Florida's lower growth rate reflects an established cycling and leisure market, while the broader region contains faster-growing urban and suburban markets with more room for infrastructure-led adoption.

Florida law establishes rights and duties for bicyclists and sets requirements related to bicycle operation on public roads. Warm weather and generally flat terrain support year-round recreational and utility riding, although automobile-oriented development can constrain safe route continuity. In Virginia, cyclists have the same rights and duties as motor-vehicle operators on state highways. The Northern Virginia and Richmond corridors demonstrate how cycling demand can develop where commuting density, trail networks, and active-transportation planning create viable everyday routes. Across the Southwest, product demand varies sharply between established leisure markets and fast-growing metro areas, requiring localized decisions on cargo, commuter, fitness, and price-oriented portfolios.

West

The West is the largest region at approximately USD 3.53 billion in 2025, or 38.37% of national revenue, but has the lowest regional CAGR at 1.96%. California represents 17.05% of regional revenue and grows at 1.62%; the Rest of West represents 82.95% and grows at 2.02%. Slower aggregate growth reflects market maturity and a higher existing cycling base, not an absence of premium demand.

The region retains an advantage in premium road, mountain, gravel, and electric categories because of established participation, outdoor recreation assets, and cycling infrastructure. Oregon law addresses the application of vehicle rules to cyclists and the use of bicycle lanes and paths. Washington law grants bicyclists the rights and duties applicable to drivers on roadways. These policy settings support commuting and recreation, though product demand still varies considerably among dense coastal metros, inland cities, and mountain communities. California remains important as a center of premium product development and consumer demand, while Colorado, Oregon, Washington, and Arizona support outdoor, mountain, and e-bike opportunities. Growth in the West is more likely to come from product mix, replacement value, and service revenue than from rapid expansion in participant numbers.

This regional pattern has direct implications for market entry and inventory allocation. Midwest and Northeast expansion requires accessible products, dealer education, and route-to-market support for riders who are newer to routine cycling. Western portfolios can place greater emphasis on performance, mountain, gravel, and premium electric products, but brands must avoid assuming that mature participation will deliver broad unit growth. Regional success depends on matching product format and service model to infrastructure, terrain, transit patterns, and the local maturity of cycling demand.

US Bicycle Market Share & Competitive Landscape

The US bicycle market is fragmented at the overall market level, although specialty retail is far more concentrated. The top seven named companies account for approximately 35% of market revenue, while Others represent approximately 65%. Within independent bicycle dealers, the top 10 brands account for 84% of retail dollars, and Trek, Specialized, Giant, and Cannondale together represent 65% of independent-dealer bicycle dollars. The distinction matters: national share does not fully capture the influence that leading brands exert through dealer relationships, service networks, component specification, and premium-category visibility.

Tier 1: Global portfolio owners and scale manufacturers

Pon Holdings leads the market with a 9.44% share, supported by a multi-brand portfolio that includes Cannondale and Santa Cruz. Its ownership of the Mike's Bikes retail chain adds a direct retail presence. In June 2025, Mike's Bikes acquired Full Cycle in Boulder, Colorado, taking its US footprint to 19 locations. This vertical relationship can improve local market visibility and retailer economics, but it also requires careful management of dealer relationships where Pon brands compete with independent retailers.

Trek Bicycle Corporation holds an 8.78% share and combines broad category coverage with a large dealer network and direct digital capabilities. Its introduction of the FX+ 1, its first throttle-equipped e-bike, in 2025 reflects the commercial relevance of throttle formats beyond DTC brands ^{[9]Electrek, electrek.co}. Trek's sale of BCycle to Bicycle Transit Systems in 2024 also indicates a sharper focus on core bicycle retail and product operations.

Specialized Bicycle Components holds 8.20% of the market and competes through premium road, mountain, and electric portfolios. The company expanded its Morgan Hill engineering footprint in 2025 and consolidated product-development resources there. Specialized also partnered with Brembo in June 2025 to develop a braking system for mountain-bicycle competition models, reinforcing its focus on performance differentiation. Its 587,000-square-foot Salt Lake City distribution facility increases North American distribution capacity, an important advantage when brands are managing inventory availability and after-sales parts support.

Giant Manufacturing holds 3.87% of the market and brings scale manufacturing capability to its branded and supply relationships. Its 2024 acquisition of Stages Cycling added connected-fitness and power-meter capabilities. Giant's role is strategically important because large-scale manufacturers can influence component procurement, product availability, and speed to market as electrification increases the technical content of bicycles.

Tier 2: Specialists, components, and selective channel models

Accell Group, with a 2.61% share, entered the forecast period after a February 2025 recapitalization that reduced debt by approximately EUR 600 million and secured approximately EUR 235 million in additional liquidity. The restructuring gives the company greater flexibility to manage inventory, distribution, and product investment after a period of sector-wide discounting. Canyon Bicycles, with a 1.81% share, continues to represent a direct-to-consumer benchmark. Canyon reported that 2025 sales declined 7% amid weaker e-MTB and urban demand, but it expanded North American reach through Amazon fulfillment. Its model tests whether a digital-first brand can expand accessibility without losing the economics and product credibility that built its initial position.

Merida Industry holds 1.29% of US market revenue and remains strategically linked to Specialized through its ownership stake. Shimano occupies a different competitive position as a component platform provider rather than a full-line bicycle brand. Its drivetrain, braking, and electronic-shifting systems affect product specification across multiple manufacturers, making component availability and technology direction relevant to competitive outcomes well beyond Shimano's direct sales.

Brompton, Cube Bikes, Cannondale Bicycle Corporation, Electra Bicycle Company, Felt Bicycles, Jamis Bicycles, Priority Bicycles, Salsa Cycles, Santa Cruz Bicycles, Dorel Industries, Hero Cycles, and Surly Bikes create the market's specialist and regional competitive layer. Their roles vary by format and channel: Brompton is associated with folding mobility; Cannondale, Salsa, and Santa Cruz compete in performance, gravel, mountain, and adventure categories; Electra addresses lifestyle and comfort demand; Priority represents a direct-oriented commuter proposition; and Jamis and Felt maintain specialty positioning across performance and value tiers. Dorel Industries, Hero Cycles, and Surly Bikes broaden the emerging-company set across mass-market, affordability, and utility-oriented demand. Competitive advantage within this group depends less on national scale than on distinctive category expertise, dealer access, component specification, and credibility with defined rider communities.

Recent Industry Developments

Mergers, acquisitions, and recapitalization

Giant Group acquired Stages Cycling from Foundation Fitness for USD 20.1 million in September 2024 following US bankruptcy-court approval. The transaction added power-meter and connected-cycling technology to Giant's portfolio.

Backcountry.com was acquired by CSC Generation Enterprise in September 2024, including Competitive Cyclist and Steep and Cheap. In September 2025, Backcountry acquired Velotech, parent of BikeTiresDirect, Western Bikeworks, and TriSports, consolidating online specialty cycling retail assets.

Pedego was acquired by a US investment group associated with Urtopia in November 2025. The transaction formed New Pedego Holdings and included a technical collaboration intended to support future product development and supply-chain efficiency.

Accell Group completed its recapitalization in February 2025, reducing debt by approximately EUR 600 million and securing approximately EUR 235 million in additional liquidity.

Partnerships and collaborations

Trek partnered with Locally in December 2024 to introduce an Omni-Seller Marketplace that combines Trek's online product offering with local dealer inventory and pickup options.

Specialized entered a June 2025 partnership with Brembo for a proprietary braking system for Specialized mountain-bicycle competition models.

New product launches

Trek launched the FX+ 1 in May 2025 as its first throttle-equipped electric bicycle. The company also launched the Checkmate gravel bicycle and the Checkpoint+ SL e-gravel bicycle in September 2025, extending its gravel portfolio into electric assistance.

Trek launched its Ride Club application in March 2025, offering ride tracking, route discovery, challenges, and technical support.

Expansion plans

Specialized opened a 587,000-square-foot North American distribution center in Salt Lake City in 2025 and consolidated engineering resources at its Morgan Hill Innovation Center.

Pon.Bike's Mike's Bikes acquired Full Cycle in Boulder, Colorado, in June 2025, expanding the chain to 19 US locations.

Canyon expanded North American sales fulfillment through Amazon in 2025.