Bicycle Market 2022 – Report Summary
Bicycle Market Segmented By Mountain Bikes, Hybrid/Cross Bikes, Road Bikes, Comfort Bikes, Youth Bikes, Cruisers, Electric Bikes Product Type in Conventional Bicycles, Electric Bicycles Technology.
The global bicycle market value is estimated to be close to US$ 59.9 Bn in 2021, and is expected to grow at a steady CAGR of 5.8% to reach a value of US$ 109.5 Bn by 2032. This market is projected to exhibit healthy growth over the next few years, owing to the increasing popularity of cycling as a mode of transportation across the globe. In addition, the rising demand for bicycles from sporting and recreational users is also anticipated to fuel the growth of this market in the coming years.
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The bicycle market is a large and ever-growing industry. Bicycle sales have been increasing in recent years, as people are becoming more interested in the health and environmental benefits of cycling.
There are many different types of bicycles available on the market, including road bikes, mountain bikes, hybrid bikes, and city bikes. Each type of bicycle has its own unique set of features and benefits. Road bikes are designed for riding on paved roads, while mountain bikes are built for off-road use. Hybrid bikes combine the best features of both road and mountain bikes, making them ideal for urban environments. City bikes are specifically designed for commuting in cities, with features like upright seating positions and fenders that keep you clean when riding in wet weather conditions.
The popularity of cycling is due in part to the many health and environmental benefits it offers. Cycling is a great form of exercise, burning calories while also strengthening your muscles and improving your cardiovascular health. It’s also a very sustainable mode of transportation, emitting zero emissions compared to cars or buses. Cycling can help reduce traffic congestion and air pollution in cities.
Bicycle Market Key Players-
- Giant Bicycles Inc.
- Atlas Cycles Ltd
- Derby Cycle Holding GmbH
- Trek Bicycle Corporation
- Avon Cycles Ltd.
- Zhonglu Co., Ltd
- Accell Group N.V.
- Tube Investments of India Limited
- Dorel Industries Inc.
- Merida Industry Co., Ltd
- Tandem Group plc
- Samchuly Bicycle Co., Ltd
- F.I.V.E. Bianchi S.p.A
- Specialized Bicycle Components
- Hamilton Industries Pvt. Ltd and more
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Bicycle Market.
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Key Takeaways from Market Study
- At a CAGR of 8.4%, electric bicycles is estimated to be the fastest-growing segment under bicycle type from 2022 to 2032.
- Conventional bicycles are expected to hold the highest share of 73.1% under the technology segment in terms of value in 2022.
- By price, mid-range bicycles are predicted to enjoy a market share of nearly 41% by 2032.
- By end user, men are projected to be major consumers with a market share of more than 45% in 2022.
- By region, East is predicted to hold the highest share in the global market accounting for more than 39% by 2032.
- China is projected to register the highest absolute $ opportunity of more than US$ 14 Bn from 2022 to 2032.
“The pandemic has sparked a surge in bicycle sales and worked as a political impetus for cycling initiatives, effectively changing the bicycle market’s growth curve” says a Persistence Market Research analyst.
As people’s concerns for the environment and desire for fitness grow, bicycles are becoming more and more commonplace. An increasingly popular leisure and recreational activity is cycling. This is also a factor in the quick growth of the world bicycle market.
Increases in bike sharing and rentals, the development of e-bikes, and the expansion of bicycle tourism are further factors influencing market growth. To enhance user experience, bicycle makers are also seeking to include new features. New security features are also being added to bicycles to assist stop accidents and theft.
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Key Questions Answered in This Report.
What are the Roadblocks for Bicycle Suppliers?
What are the Key Opportunities for Bicycle Manufacturers?
How is Focus on Safety Influencing Bicycle Demand?
What is the Regulatory Impact on Global Sales of Bicycle?
Which Region Offers the Largest Opportunity for Sales of Bicycle?
Where Does the U.S. Stand in the Market for Bicycle?
What Is the Outlook for Bicycle Manufacturers in China?
Why is Germany a Lucrative Market for Bicycle Manufacturers?
Why Will Belgium Outpace Other European Markets for Bicycle?
Why is There High Demand for Tires in Bicycle?
Why are Sales of Bicycle Surging?
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Bicycle and Components Market Segmented By Bicycle Accessories, Mountain Bicycle, Road Bicycle, Hybrid Bicycle, Youth Bicycle, Comfort Bicycle, Cruiser Bicycle, Electric Bicycle, Saddle Component, Pedal Component, Rim Component, Frame Component, Brake Component
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