In 2015 there were 15.8 million bicyclists in the United Kingdom. In urban areas cycling has become a convenient and environmentally-friendly alternative to other forms of transportation. Recently more and more professionals are using their bicycles to commute to work. Since 2010 the market for accessories has grown faster than the market for bicycles themselves—28 percent and 23 percent, respectively.

Today’s market size shows the value of the bicycle accessory market, which includes parts, accessories, and clothing, in the United Kingdom for 2014. That same year the market for bicycles was valued at £956 million.

Geographic reference: United Kingdom
Year: 2014
Market size: £1.25 billion
Source: Graham, Luke, “Chain Reaction: Cycling Gets a Luxury Pricetag,” CNBC, July 31, 2015 available online here.
Original source: Mintel