IMARC Group has recently released a new research study titled “Bicycle Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the bicycle industry?
The global bicycle market share 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.
What is a bicycle?
A bicycle is a two-wheeled, pedal-driven vehicle with brakes, drive chain, seat, carrier, and handlebar. It assists in reducing body fat levels and improving the posture and limb coordination of a rider. Besides this, it helps reduce anxiety and depression, prevent several diseases, and increase cardiovascular fitness, flexibility, muscle strength, and joint mobility. As a result, the bicycle represents one of the preferred modes of transportation for covering shorter distances.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the bicycle market?
The rising prevalence of obesity, diabetes and other lifestyle diseases is resulting in the growing adoption of bicycles, especially among the millennial population. This represents one of the key factors catalyzing the demand for bicycles around the world. In addition, increasing traffic congestion and minimal availability of parking spaces are increasing the overall product sales. Furthermore, the emerging trend of dockless bicycle-sharing systems integrated with global positioning systems (GPS) is creating a favorable market outlook. Moreover, the introduction of electric bicycles is anticipated to drive the market.
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The report has segmented the market into the following categories:
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:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
- 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
- Trek Bicycle Corporation (Roth Distributing Co. Inc.)
Related Report by IMARC Group:
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