DUBLIN, May 7, 2021 /PRNewswire/ — The “Bicycle Market Size, Share & Trends Analysis Report by Product (Mountain, Hybrid, Road), by Technology (Electric, Conventional), by End User (Men, Women, Kids), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global bicycle market size is anticipated to reach USD 92.49 billion by 2028, registering a CAGR of 7.0% over the forecast period
Increasing adoption of cycling as a form of leisure and awareness regarding the health benefits associated with cycling are the factors expected to bolster market growth. Bicycles are being preferred for short-distance commutes as they save considerable time as compared to other vehicles. Moreover, limited parking spaces and growing traffic congestions are prompting people to reconsider bicycles as a primary option for the commute.
Rising emphasis on the use of non-polluting vehicles for short-distance commutes by governments across the world is anticipated to positively influence market growth. The fact that bicycles do not emit any pollutants is projected to drive their demand in near future.
Moreover, consumers are rapidly moving toward online distribution channels to buy a bicycle due to several key factors, including doorstep delivery and replacement and availability of a variety of products. Also, due to the outbreak of the COVID-19 pandemic, consumers are mainly focused on avoiding crowded places to prevent themselves from virus infections.
The road bicycle is expected to emerge as the fastest-growing segment over the forecast period. These happen to be the most basic bicycles that consumers prefer owing to their ease of use. These cycles do not require any sophisticated equipment required by mountain and hybrid bicycles.
This factor is anticipated to bode well for the growth in demand over the forecast period. Moreover, dockless bicycle-sharing systems are expected to gain attention in the coming years as they enable users to locate and electronically unlock a nearby bicycle for rent. Produced originally in Europe, these systems are gaining acceptance, especially in Asian countries, including India and China.
Bicycle Market Report Highlights
- The global market is growing significantly as bike-sharing companies, particularly in Europe and Asia, are investing aggressively in expanding their operations
- The mountain bicycle segment is anticipated to expand at a CAGR exceeding 7% over the forecast period. Rising popularity in line with the increasing media coverage for mountain bicycle racing events and the establishment of new mountain biking circuits are expected to drive the growth
- Apart from being easy to use, electric bicycles can potentially shorten the journey time. Moreover, advances in battery technology have resulted in the advent of lighter rechargeable batteries that can support longer journeys. These factors are attributed to the growth of the electric bicycle segment
- The men segment is expected to expand significantly at a CAGR of over 7.2% over the forecast period as men would continue to outnumber women and kids in terms of opting for a bicycle commute. The number of men opting for bicycle commutation was higher than that of women and kids in 2019
- Asia Pacific was the dominant regional market in 2020 with a revenue share exceeding 34%. Governments in Asian nations, particularly Japan, China, and Singapore, among others, are investing aggressively in establishing the infrastructure necessary to encourage and support bicycle commutation
- Leading market incumbents are Accell Group; Dorel Industries Inc.; Giant Bicycles; Merida Industry Co., Ltd.; and Trek Bicycle Corporation. They dominated the market in 2020 leveraging a continuous emphasis on expanding their market share through mergers and acquisitions
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variable, Trends & Scope
3.1. Bicycle Market Trends
3.1.1. Technology Trends
3.1.2. Buyer Trends
3.1.3. Supplier Trends
3.1.4. Regulatory Trends
3.2. Bicycle Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint/Challenge Analysis
3.3. Penetration & Growth Prospect Mapping
3.4. Bicycle Market – Value Chain Analysis
3.5. Bicycle Market Industry Analysis – Porter’s
3.6. Bicycle Market Industry Analysis – PEST
3.7. Major Deals & Strategic Alliances Analysis
3.7.1. Joint Ventures
3.7.2. Mergers & Acquisitions
3.7.3. Licensing & Partnership
3.7.4. Technology Collaborations
Chapter 4. Bicycle Market: Product Estimates & Trend Analysis
4.1. Bicycle Market: Product Analysis
4.1.1. Mountain Bicycle
4.1.2. Hybrid Bicycle
4.1.3. Road Bicycle
4.1.4. Others
Chapter 5. Bicycle Market: Technology Estimates & Trend Analysis
5.1. Bicycle Market: Technology Analysis
5.1.1. Electric
5.1.2. Conventional
Chapter 6. Bicycle Market: End-User Estimates & Trend Analysis
6.1. Bicycle Market: End-User Analysis
6.1.1. Men
6.1.2. Women
6.1.3. Kids
Chapter 7. Bicycle Market: Distribution Channel Estimates & Trend Analysis
7.1. Bicycle Market: Distribution Channel Analysis
7.1.1. Online
7.1.2. Offline
Chapter 8. Bicycle Market: Regional Estimates & Trend Analysis
8.1. Bicycle Market Share By Region, 2020 & 2028
Chapter 9. Competitive Analysis
9.1. Recent Developments & Impact Analysis, by Key Market Participants
9.2. Company/ Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
9.3. Vendor Landscape
9.4. Company Analysis
9.4.1. Company Market Position Analysis
9.4.2. Competitive Dashboard Analysis
Chapter 10. Competitive Landscape
10.1. Company Overview
10.2. Financial Performance
10.3. Product Benchmarking
10.4. Recent Developments
- Accell Group
- Atlas Cycles (Haryana) Ltd.
- Avon Cycles Ltd.
- Cervelo
- Dorel Industries Inc.
- Giant Bicycles
- Merida Industry Co., Ltd
- Specialized Bicycle Components, Inc.
- SCOTT Sports SA
- Trek Bicycle Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4qf6e1
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