Bicycle Market is valued approximately at USD 50.88 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2020-2027.
Now a days large numbers of people are opting for bicycling as a form of leisure and exercise. The major drivers that support the market growth are shifting concern of people about healthy lifestyle, environment-friendliness and for recreation and leisure. Preference for bicycles to ensure a healthy life, free from obesity and other disorders are expected to boost the market. The popularity of dockless bicycle-sharing systems is also rising. Various sports events, such as Tour de France and Ronde van Vlaanderen, are fueling the popularity of bicycles. Men are likely to travel more than women through bicycles.
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For Instance: as per the data provided by the Department for Transport U.K., in 2019, on average, the U.K. men population made 25 cycling trips in a year as compared to 10 cycling trips by women population in the same year. Thus the sales of bicycles by men is likely to increase. Further, increasing investment in sports infrastructure through favorable government initiatives and participation in sports has led the adoption of Bicycle across the forecast period. For Instance: in India events like, mountain cycling events, cycling marathons and other events organized by Cycling Federation of India. However, lack of necessary infrastructure to support bicycle commutation in congested regions impedes the growth of the market over the forecast period of 2020-2027. Further, with the governments of U.S. & Italy providing subsidies on the purchase of new bicycles and growing awareness among public of bicycle being safest medium to travel, the adoption & demand for bicycle is likely to increase.
The regional analysis of global Bicycle market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to urban cycling, sports events and health conscious people. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as environmental friendly awareness and less traffic on roads coupled with the well-established cycling infrastructure would create lucrative growth prospects for the Bicycle market across Asia-Pacific region.
Major market player included in this report are:
Dorel Industries Inc.
Merida Industry Co.,Ltd.
Scott Sports SA
Specialized Bicycle Components, INC
Trek Bicycle Corporation
Kona Bicycle Company
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Cargo Electric bike
Non-Cargo Electric bike
Cargo Nonelectric bike
Non-cargo Nonelectric bike
By Sales Channel:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Bicycle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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