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Biking has come a long way since the days you rode a bulky Huffy or Schwinn when you were a kid. Today, the bicycle industry is big and booming. The U.S. bicycle market is estimated to be $7.71 billion in 2024 and is expected to reach $9 billion by 2029. New technology and increased health consciousness has made the product desirable  – and very profitable.

Present-day bicycles fall into seven main categories: utility, touring, racing, mountain, hybrid, BMX, and electric.

Utility or urban bikes are principally used for short-distance commuting, running errands, shopping, leisure, or for transporting goods or merchandise. They used to be human-powered but increasingly utility bikes are electric.

Touring bicycles are designed or modified to handle bicycle touring. The bikes are comfortable and capable of carrying heavy loads.

Racing bikes are designed for maximum speed and weigh about 20 pounds. Since the introduction of carbon fiber frames, sales of racing or road bikes have soared. So have the prices – a top-of-the-line racing bike can cost over $10,000.

Mountain bicycles are bikes with thick tires and a lot of gears, originally made for riding on hills and rough ground, but now often used on roads.

Hybrid bikes – A hybrid is exactly what it sounds like – a mix of a road bike and a mountain bike. The result is a bicycle that’s suitable for general-purpose riding over different types of terrain – off-road and on the road.

BMX bikes are all the rage with teens. It’s not your father’s bicycle. BMX riding involves popping wheelies and riding in and sometimes against traffic. BMX bikes are big business by itself.

BMX stands for “bicycle motocross” and originated out of a garage in California 50 years ago. Today, it’s a $121 million business. There are gangs, teams, races and over 300 BMX tracks all over the country.

The style is called “bike life.” Wheelies on BMX bikes is a growing culture that has been accelerated by platforms like Instagram and Snapchat

BMX bikes range in size from 20″ BMX bikes to 29″ BMX bikes and are perfect for dirt and freestyle BMX street tricks, racing or everyday use.

Prices for a BMX start from $200 for a base Mongoose to up to $2000 for a DJ Ripper.

Electric Bikes

The electric bike or e-bike phenomenon took off in the last decade even though they’ve been around for over a century. They have become more popular in recent years due to advanced technology and increased interest in sustainable transportation.

In 2022, there were 1.1 million e-bikes sold in the United States, almost four times as many as were sold in 2019. The U.S. e-bike market size was estimated at $1.98 billion in 2022 and is expected to reach $2.59 billion in 2023.

According to the World Bicycle Industry Association, in 2022 10% of bicycle sales in the world were e-bikes.

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