Bicycle Market Overviews
Bicycle Market size was valued at US$ 67.83 Billion in 2023 and the total Bicycle Market revenue is expected to grow at 7% through 2024 to 2030, reaching nearly US$ 108.93.
Bicycles are an eco-friendly means of transportation, with countless variations such as cargo bikes, electric bikes and mountain bikes. Bicycles are easy to use and are considered one of the safest means of transportation. In addition, major cycling associations such as Go out, Tour Somewhere, Easy Rider Bike Club and Road Soldiers Cycling Club share important motivations to raise consumer interest in cycling. They participate in a variety of sporting tournaments, leisure activities, cycling rallies, and competitions that motivate customers to use their bicycles. In addition, the trend towards cycling is well established in Europe and North America. This is due to the fact that most of the tournaments such as the Tour de France and LoToJa are held in these areas. Bicycle market is expected to register CAGR of 7% during the forecast period.
Bicycle Market Scope and Methodology:
An growing software base of bicycles in hiking and leisure sports, coupled with a growing quantity of biking occasions, is anticipated to propel the call for bicycles in each well-known and sports activities bicycles. The growing impact of superstar endorsement and growing media insurance for such occasions are anticipated to in addition gasoline marketplace boom.? Furthermore, numerous governing our bodies in European countries, inclusive of Cycling Ireland, sell avenue racing, travelling and amusement biking, tune racing, and off-avenue racing occasions are driving bicycle market growth. For instance, in line with the Irish Sports Council, investments made with the aid of using Sport Ireland in the direction of Cycling Ireland accelerated from EUR 292.five thousand in 2015 to EUR 440 thousand in 2019, which recommended the involvement of clients in numerous biking sports in Ireland.?
Bicycle Market Regional Insights
Asia - Pacific was dominant in the bicycle market with a revenue share of over 33%. This region is also expected to become the fastest growing segment with a CAGR of over 8.0% in the coming years. Countries such as China, Japan and Singapore are emphasizing the implementation of the necessary infrastructure to encourage and support cycling. Some cities in Asia, such as Tokyo, are known to have the lowest accident rates and are therefore considered ideal cities for urban cycling. In addition, Chinese bike-sharing companies are actively targeting countries like India and Australia to expand their businesses. Therefore, the demand for bicycles is expected to increase in the coming years.
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Bicycle Market Segmentation
Meanwhile, the mountain bike segment is also expected to grow significantly during the forecast period as consumers, especially millennials, continue to opt for mountain biking as a form of transportation. Entertainment and adventure. In addition, the number of women and children playing sports is steadily increasing and is likely to influence the growth of the segment globally. Furthermore, the establishment of new mountain bike routes along with increased media coverage of these events will further fuel the segment's growth.
Bicycle Market Key Players
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Bulls
Pedego Inc.
Benno Bikes LLC
Ribble Cycles
Cervélo
Merida industry co., ltd.
Olympus bikes
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Key questions answered in the Bicycle Market are:
- What is Bicycle ?
- What was the Bicycle market size in 2023?
- What is the growth rate of the Bicycle Market?
- Which are the factors expected to drive the Bicycle market growth?
- What are the different segments of the Bicycle Market?
- What growth strategies are the players considering to increase their presence in Bicycle ?
- What are the upcoming industry applications and trends for the Bicycle Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Bicycle Market?
- Who are the leading companies and what are their portfolios in Bicycle Market?
- What segments are covered in the Bicycle Market?
- Who are the key players in the Bicycle market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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