According to the latest report by IMARC Group, titled “Bicycle Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027,” 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:
Competitive
Landscape:
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, disc type, material type and end user.
Breakup
by Type:
·
Road Bicycle
·
Mountain Bicycle
·
Hybrid Bicycle
·
Others
Breakup
by Technology:
·
Electric
·
Conventional
Breakup
by Price:
·
Premium
·
Mid-Range
·
Low-Range
Breakup
by Distribution Channel:
·
Online Stores
·
Offline Stores
Breakup
by End User:
·
Men
·
Women
·
Kids
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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Analyst for Customization and Explore Full Report with TOC & List of
Figure: https://www.imarcgroup.com/bicycle-market
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
If you need specific
information that is not currently within the scope of the report, we can
provide it to you as a part of the customization.
If you want latest primary
and secondary data (2022-2027) with Cost Module, Business Strategy,
Distribution Channel, etc. Click request free sample report, published report
will be delivered to you in PDF format via email within 24 to 48 hours of
receiving full payment.
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IMARC Group is a leading
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worldwide. We partner with clients in all sectors and regions to identify their
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transform their businesses.
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biotechnology, advanced materials, pharmaceuticals, food and beverage, travel
and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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