The global bicycle market size reached around US$ 58 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 80 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
A bicycle is a pedal-driven vehicle with brakes, two wheels, carrier, seat, drive chain, and handlebar. It is helpful to decrease stress and body fat levels, improve posture and coordination, strengthen bones, prevent several diseases, and reduce anxiety and depression. As a result, bicycles are widely used by individuals for health benefits and traveling to nearby places.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Bicycle Market Trends:
The market is primarily driven by the increasing prevalence of chronic diseases, due to which individuals are opting for bicycles to ensure healthy living. In addition, less availability of parking space and growing traffic congestion in metropolitan cities have escalated the product demand. Besides this, governments of numerous countries are promoting the adoption of bicycles to minimize carbon emissions released from vehicles which represents another growth-inducing factor. Furthermore, the introduction of electric bicycles in the market that offers higher capacities and longer life than their conventional counterparts is anticipated to fuel the market growth in the upcoming years.
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Global Bicycle Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accell Group N.V., Avon Cycles Ltd., Benno Bikes LLC, Cervélo (Pon Holdings B.V.), Dorel Industries Inc., Giant Manufacturing Co. Ltd., Kona Bicycle Company, Merida Industry Co. Ltd., Olympus Bikes, SCOTT Sports SA (Youngone Corporation), Specialized Bicycle Components Inc. and Trek Bicycle Corporation (Roth Distributing Co. Inc.).
The report has segmented the market on the basis on region, type, technology, price, distribution channel, end user.
Breakup by Type:
- Road Bicycle
- Mountain Bicycle
- Hybrid Bicycle
Breakup by Technology:
Breakup by Price:
Breakup by Distribution Channel:
- Online Stores
- Offline Stores
Breakup by End User:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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