Bicycle Market to see Rapid Growth by 2028
The global bicycle market is growing at a considerable CAGR of 6.5% during the forecast period. Time-efficient for a short distance and economical is considered as the prime factors affecting and driving the market. The increasing preference of people for non-polluting vehicles along with a growing number of events associated with cycling is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, unsuitable for traveling a long distance is the major factor constraint that is hindering the growth of the global bicycle market across the globe.
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Moreover, emerging advanced bicycles along with rising government support is also enhancing the demand for bicycles that are creating opportunities in the market. New product launches in the market are likely to drive the growth of the global bicycle market. For instance, in February 2021, Giant Bicycles had introduced the XtC Advanced SL 29 that is a World Champion edition frameset considered to be super light and is having advanced SL-grade composite. These Bicycles support gaining stiffness-to-weight ratio provided to any Hardtail mountain bike with ultra-efficient pedaling power along with precise handling on the trail provided in it.
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· Market Coverage
· Market number available for – 2022-2028
· Base year- 2021
· Forecast period- 2022-2028
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Market Segmentation
Global Bicycle Market by Product Type
o Mountain Bicycle
o Hybrid Bicycle
o Road Bicycle
o Other
Global Bicycle Market by Technology
o Electric
o Conventional
Global Bicycle Market by Distribution Channel
o Online Channel
o Offline Channel
Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World
Company Profiles
o Accell Group
o Atlas Cycles
o Avon Cycles Ltd.
o Bridgestone Cycle Co., LTD.
o Campagnolo S.r.l.
o CYCLEUROPE AB
o CUBE-BIKES
o Dahon Bike
o Dorel Industries Inc.
o Giant Bicycles
o Hero Cycles Ltd.
o MERIDA BIKES
o Specialized Bicycle Components, Inc.
o Samchuly Bicycle
o SRAM LLC.
o Pon Holdings B.V.
o TUBE INVESTMENTS OF INDIA Ltd.
o TRINX
o Trek Bicycle Corp.
o Zhejiang Pujiang Libahuang Bicycle Co Ltd.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bicycle market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.
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