The U.S. bicycle market, which includes the retail sales of bicycles, related parts and accessories through all channels of distribution, has an estimated size of around six billion U.S. dollars annually. In 2017, mountain bikes with a retail value of alomst 580 million U.S. dollars were sold in the United States. On average, consumers in the U.S. spend about 22.6 U.S. dollars on bicycles per year. Sales of electric bicycles – bikes that have an integrated electric motor to it – are forecast to experience strong growth in the coming years. By 2023, global sales of e-bikes are forecast to reach approximately 40 million units. Asia Pacific is the most important market for electric bikes worldwide, while North America accounts for less than one percent of the global market.
Events are also a major part of this sport. For instance, more than 160 million people attended cycling events in the United States in 2018. The Tour de France, one of the most popular and prominent bicycle races in the world, attracts many spectators and riders. French road bicycle racer Sylvain Chavanel is the athletes with the most Tour de France appearances – 18 in total. Lance Armstrong, who by many is considered one of the best riders of all time, was stripped of his seven Tour de France titles in 2012 by the International Cycling Union for doping. Any record Lance Armstrong achieved was taken out of the official record book.