The cycling industry in 2025 finds itself at a pivotal moment. After unprecedented growth during Covid-19, the industry endured several difficult years. While it hasn’t returned to its peak, emerging markets and new ways of riding are driving the next phase of growth. Building on the themes we explored in Aspire Insights: The state of the cycling industry 2024, this update looks at how the market has developed over the last 12 months.
The market finds its floor
The cycling industry in 2025 continues to face a challenging financial landscape. At the start of the year, Brompton’s profits plunged by more than 99%, Raleigh reported losses of £30 million, and Canyon posted a €38 million net loss in 2024. Even long-established component makers are feeling the strain: Campagnolo recently announced that it’s preparing to cut 120 jobs – around 40% of its Vicenza workforce – as part of a restructuring plan it says is necessary to stabilise the company’s financial position.
Rapha reported its eighth consecutive year of operating losses, yet this marked an improvement on the previous period. CEO Fran Millar expressed cautious optimism, noting that while the road back remains steep, consumer behaviour is normalising.
At Rouleur Live’s The Road: Ahead conference, Zwift CEO Eric Min and Canyon founder Roman Arnold emphasised the need for resilient supply chains, smarter forecasting, and business models that prioritise stability. Innovation, flexible product lifecycle, and strong community engagement, they argued, will be essential for long-term resilience.
Across the market, retailers are reporting more predictable purchasing patterns and easing inventory surpluses. The whiplash from unprecedented pandemic demand to the sharp post-Covid slowdown has been a steep learning curve for the industry, prompting brands to rethink forecasting and risk.
While the sector isn’t surging, there is growing sentiment that the worst of the turbulence has passed and that conditions are gradually becoming more conducive to recovery.
Cities embrace cycling for greener travel
Cycling for commuting continues to surge, driven by city-level investment and a growing appetite for sustainable transport. Glasgow logged 4.65 million cycling trips between January and August 2025 – a 43% increase on the same period in 2024. In London, commuting trips have risen 57% in two years, with bicycles now outnumbering cars by two to one in the “square mile” financial district.
Shared mobility is playing an increasingly important role. More than four million Londoners have used Lime, completing 16 million journeys in 2024. Lime announced in January 2025 a £20 million investment to improve e-bike parking, enhance safety, and increase access across the capital.
Yet a persistent gender gap remains. Cycling UK found that 58% of women feel unsafe on UK roads, 36% don’t feel safe enough to cycle at all, and 23% cite a lack of dedicated routes as a primary barrier. The divide begins early, too, with twice as many boys as girls cycling regularly.
The dockless e-bike dilemma
The popularity of dockless e-bikes has transformed urban mobility, but not without challenges. Local councils are grappling with bikes left on pavements and in public spaces, creating hazards for pedestrians. Westminster Council recently introduced a £100 on-the-spot fine for e-bikes not parked in designated bays in an effort to tackle the issue.
With dockless schemes still unregulated in the UK, the debate around accessibility, safety, and street clutter will remain central as cities rely more heavily on cycling as a sustainable transport solution..
Gravel and bikepacking lead the participation boom
Gravel continues to be one of the standout growth areas in cycling. After ranking as Strava’s fastest-growing sport in 2024, its momentum shows no sign of slowing in 2025. Gravel’s appeal is both cultural and adventure-led.
Event organisers are also helping shift the landscape by prioritising inclusivity and accessibility. Many have committed to equal prize money, matching media coverage, and equal race distances – contributing to gravel’s rapid expansion and growing appeal.
Bikepacking and cycle touring are also on the rise, fuelled by interest in outdoor activities, sustainability, and multi-day experiences. Infrastructure improvements across the UK and Europe have bolstered this growth, while the global cycle tourism market is set to reach €2.75 billion by 2033.
Scotland alone sees nearly 500,000 cycling-related trips by UK holidaymakers each year, generating over £125 million – a figure expected to rise with the 2027 Tour de France and Tour de France Femmes avec Zwift Grand Départ in Edinburgh.
Road cycling rebound – driven by younger riders
Road cycling participation shows a steady increase, particularly among Gen Z and Millennials. According to Strava’s Year in Sport report (January 2025), the number of cyclists under 35 has risen by more than 80% since 2019, while women’s cycling has increased by nearly 20% in the same period.
Women’s sport is also influencing participation. Zwift’s survey of 5,000 women showed that 69% of those who watched the Tour de France Femmes felt inspired to ride their bikes, highlighting the impact of visibility on participation.
Additionally, this moment represents a transition for virtual racing. Zwift has cancelled its elite Zwift World Series for 2025/2026 and paused the Zwift Academy talent-identification programme until 2026. This comes on top of subscription price increases in June 2024 (from £12.99 to £17.99 per month and £129.99 to £179.99 annually). While indoor platforms are popular, rising costs may test their long-term accessibility.
Mountain Biking and Electric Mountain Biking in transition
Mountain biking remains a significant bright spot. The UCI Mountain Bike World Series recorded its highest-ever viewing and attendance figures in 2025.
But the picture is mixed. The UCI paused its E-Enduro World Cup (E-EDR) in 2025 due to low entry numbers and limited viewership. The pause reflects broader challenges affecting some parts of the off-road sector, including economic pressures on both brands and events.
Commercial strain has also been visible among manufacturers. German direct-to-consumer brand YT Industries entered self-administration in July 2025. Although the company has since been repurchased by its original founder.
📷 @thule
How fans are watching cycling is changing
Broadcast disruption is reshaping how audiences follow cycling. Eurosport’s integration into TNT Sports pushed many major races behind a £30.99 monthly paywall. ITV’s free-to-air Tour de France coverage softened the impact, but its announcement that it would drop the race after 23 years marks a significant blow to mainstream accessibility in the UK.
Yet digital engagement is rising rapidly. The 2025 Tour de France Femmes achieved record-breaking engagement across social media, with the race’s Instagram platform gaining 700,000 new followers since 2023 and video views rising 61%.
Domestically, Lloyd’s Tour of Britain reported 152% year-on-year audience growth in 2025, alongside 178,000 YouTube hours watched and over 800,000 social engagements.
While traditional broadcast access narrows, digital platforms are increasingly crucial to sustaining and expanding fan engagement, particularly among younger audiences.
A reshaped, more diverse cycling landscape
Taken together, these trends paint a picture of an industry not simply recovering but reshaping itself. Growth is being driven by new forms of riding, younger demographics, expanding commuter culture, and a more diverse rider community than ever before.
While challenges remain, the overall direction of travel is one of evolution rather than decline.
For brands, retailers, and event organisers, the opportunity now lies in aligning with these shifting behaviours: building communities, improving accessibility, and telling stories that resonate with the next generation of cyclists.
“What’s emerging is a cycling industry that’s reshaping itself, not recovering from the past. Working closely with clients like Thule, Threshold and Suunto gives us a clear view of how rider behaviours are shifting towards accessibility, adventure and community. The future belongs to brands who understand those shifts and build experiences that truly reflect them.”
Sam Begg, Account Manager, Aspire
Written in collaboration with freelance journalist and outdoor storyteller India Paine, whose work spans cycling, adventure and travel.
If you’d like to discuss the cycling industry, active lifestyle trends, or how Aspire can support your brand, contact us at hello@aspirepr.co.uk.
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