The Bicycle Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026.
The Bicycle Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global bicycle market report has been segmented on the basis of type and region.
Bicycle Market Overview:
The Bicycle Market was valued at $53.8 billion in 2021 & is projected to reach $139.5 billion by 2026. It is expected to grow at a 5.7% CAGR between 2021 and 2026.
Bicycles are the easiest and most economical mode of transport. They also help curb pollution levels from other transportations and other environmental negative impacts. Cycling is the most sustainable mode of mobility, has no dependence on fossil fuels, and has zero emissions unlike other motorized modes of transport.
Rising health concerns and the growing adoption of a healthy lifestyle is a major factors driving the growth of the global bicycle market.
In addition, continuous fluctuating fuel prize, rising air pollution, increasing government initiatives to promote a safe and eco-friendly mode of transportation, and increased expenditure for infrastructure development on cycle networks are other factors expected to support the growth of the global bicycle market.
Moreover, improved health, a better quality of life, and cost savings are increasing preference among adults resulting in an increasing preference for bicycles in developed countries, which is expected to further fuel the growth of the market.
Furthermore, increasing demand for sports bicycles among cycling athletes is another factor expected to support the growth of the global bicycle market.
The high cost of raw materials is a major factor restraining the growth of the global bicycle market. In addition, the rising demand for technologically advanced walking equipment such as self-balancing scooters is expected to challenge the growth of the global bicycle market to a certain extent in the coming years.
However, increasing R&D activities by manufacturers is expected to create new opportunities in terms of revenue for players operating in the global bicycle market over the forecast period.
The current trend observed in the market is initiatives by healthcare organizations and governments in various countries to promote eco-friendly and economical modes of transportation, which can help stay people fit is expected to gain traction in the next few years.
Asia Pacific market is expected to register a higher revenue share in the global bicycle market as compared to that of the other regional markets.
This can be attributed to the increasing eco-friendly approach towards transportation and increasing government initiatives to promote cycling as a safe mode of transportation, and the presence of prominent players operating in countries in this region.
North America and Europe markets account for significant revenue shares in the global bicycle market, followed by markets in Latin America and the Middle East & Africa respectively.
The market in Europe is projected to register the fastest growth in terms of revenue, owing to the increasing adoption of bicycles among the population of all age groups, and increasing government spending on infrastructure development of cycling networks and end-of-trip facilities.
The government of Copenhagen, the capital of Danish is developing the state into a bicycle-friendly city. It has invested $150 million in cycling infrastructure and facilities in the last decade.
Global Bicycle Market Segmentation:
Segmentation by Type:
- Road/Standard Bicycle
- MTB/Racing Bicycle
- Kids Bicycle
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Derby Cycle Corporation
- shimano Giant Manufacturing Co. Ltd.
- Fuji Corporation
- Cannondale Corp.
- Atlas Group
- Accell Group N.V.
- BSA Limited
- Hercules Cycles
- Hero Cycles Limited
- Dorel Industries Inc.
- Merida Industry Co. Ltd.
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