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In 2022, the worldwide market for bicycles was estimated to be worth $100.91 billion. The market is expected to increase at a CAGR of 10.90% from USD 110.12 billion in 2023 to USD 227.80 billion by 2030.
Demand in the cycle business has skyrocketed in recent years as more and more people become aware of the health benefits of cycling. People all throughout the world ride bicycles for a wide variety of reasons, including transportation, health and recreation. In order to appeal to a wider audience, producers create a wide range of sorts or categories tailored to these uses. Manufacturers typically provide a number of distinct types of bicycles, such as mountain bikes, road bikes, and hybrid bicycles. Traffic congestion, urbanisation, and people's increasing awareness of environmental issues are all contributing to the expansion of the worldwide bicycle market. For instance, the percentage of the world's population that lives in urban areas is projected to increase from 51.6% in 2010 to 56.2% in 2020, according to the UNCTAD Handbook of Statistics. Over the past decade, there has been a dramatic shift towards urban living. In 2021, the global population is predicted to have increased by 0.9%. Since the COVID-19 epidemic began, the growth rate has slowed; it is predicted to increase in 2023 before continuing its slide to the predicted 0.5% growth in 2050.
Report Coverage
Global Bicycle research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Bicycle report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Bicycle competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Bicycle market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
In order to make riding bicycles and motorised scooters safer and more convenient on roads, dedicated routes, and even pavements (where legal), cycling infrastructure can include a wide variety of modifications. It provides infrastructure like bike racks and shelters as well as amenities like locker rooms, changing areas, showers, and traffic signs to make cycling to work easier. Traffic congestion, pollution, and inactivity are all issues that local governments throughout the world are trying to address by actively encouraging the use of bicycles as a mode of transportation. As an example, The Dutch government allocated over USD 1.2 billion in November 2022 to improve the country's bicycle infrastructure. The federal government has committed USD 850 million towards bicycle infrastructure, and this number is expected to rise to about USD 1.2 billion after provincial and municipal governments pitch in as well. Sales of bicycles around the world are being considerably impacted by the rising popularity of cycling-related sports like BMX racing and adventure sports like mountain biking. In addition, the rising popularity of cycling as a leisure activity is being fueled by the proliferation of cycling sports clubs and their innovative approaches to marketing. In addition, technical advancements such as connected bicycles, the use of sophisticated materials to reduce weight and improve efficiency, and the creation of electrically powered bicycles are some of the in-demand trends projected to boost market expansion over the projection period.
CAUSES OF RESTRICTIONS
Competition from more accessible transport options including buses, trains, cars, and others is likely to slow the expansion of this industry. It is anticipated that production processes at the production sites of the affiliated companies will be hampered by trade restrictions connected to the bike/cycle components and accessories inside different nations across the globe. E-bikes cost more than scooters or motorcycles because of the high cost of the battery and other equipment. People therefore believe that standard scooters or motorcycles offer better performance for the same or lower price. Therefore, it is expected that the higher price of electric cycles and the lack of charging facilities will constrain market expansion.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Bicycle market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Bicycle market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Bicycle market based on the below-mentioned segments:
Global Bicycle Market, By Product Type
Global Bicycle market, By Technology:
Global Bicycle Market, By Price
Global Bicycle Market, By End User
Global Bicycle market, Regional Analysis
Demand in the cycle business has skyrocketed in recent years as more and more people become aware of the health benefits of cycling. People all throughout the world ride bicycles for a wide variety of reasons, including transportation, health and recreation. In order to appeal to a wider audience, producers create a wide range of sorts or categories tailored to these uses. Manufacturers typically provide a number of distinct types of bicycles, such as mountain bikes, road bikes, and hybrid bicycles. Traffic congestion, urbanisation, and people's increasing awareness of environmental issues are all contributing to the expansion of the worldwide bicycle market. For instance, the percentage of the world's population that lives in urban areas is projected to increase from 51.6% in 2010 to 56.2% in 2020, according to the UNCTAD Handbook of Statistics. Over the past decade, there has been a dramatic shift towards urban living. In 2021, the global population is predicted to have increased by 0.9%. Since the COVID-19 epidemic began, the growth rate has slowed; it is predicted to increase in 2023 before continuing its slide to the predicted 0.5% growth in 2050.
Report Coverage
Global Bicycle research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Bicycle report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Bicycle competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Bicycle market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
In order to make riding bicycles and motorised scooters safer and more convenient on roads, dedicated routes, and even pavements (where legal), cycling infrastructure can include a wide variety of modifications. It provides infrastructure like bike racks and shelters as well as amenities like locker rooms, changing areas, showers, and traffic signs to make cycling to work easier. Traffic congestion, pollution, and inactivity are all issues that local governments throughout the world are trying to address by actively encouraging the use of bicycles as a mode of transportation. As an example, The Dutch government allocated over USD 1.2 billion in November 2022 to improve the country's bicycle infrastructure. The federal government has committed USD 850 million towards bicycle infrastructure, and this number is expected to rise to about USD 1.2 billion after provincial and municipal governments pitch in as well. Sales of bicycles around the world are being considerably impacted by the rising popularity of cycling-related sports like BMX racing and adventure sports like mountain biking. In addition, the rising popularity of cycling as a leisure activity is being fueled by the proliferation of cycling sports clubs and their innovative approaches to marketing. In addition, technical advancements such as connected bicycles, the use of sophisticated materials to reduce weight and improve efficiency, and the creation of electrically powered bicycles are some of the in-demand trends projected to boost market expansion over the projection period.
CAUSES OF RESTRICTIONS
Competition from more accessible transport options including buses, trains, cars, and others is likely to slow the expansion of this industry. It is anticipated that production processes at the production sites of the affiliated companies will be hampered by trade restrictions connected to the bike/cycle components and accessories inside different nations across the globe. E-bikes cost more than scooters or motorcycles because of the high cost of the battery and other equipment. People therefore believe that standard scooters or motorcycles offer better performance for the same or lower price. Therefore, it is expected that the higher price of electric cycles and the lack of charging facilities will constrain market expansion.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA, Trek Bicycle Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Bicycle Market from 2021 to 2030.
- Market Forecast for Bicycle Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Bicycle competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Bicycle
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Bicycle market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Bicycle market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
- Accell Group
- Atlas Cycles (Haryana) Ltd.
- Avon Cycles Ltd.
- Cervelo
- Dorel Industries Inc.
- Giant Bicycles
- Merida Industry Co., Ltd.
- Specialized Bicycle Components, Inc.
- SCOTT Sports SA
- Trek Bicycle Corporation
Primary Target Market
- Market Players of Bicycle
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Bicycle market based on the below-mentioned segments:
Global Bicycle Market, By Product Type
- Comfort
- Cruiser
- Mountain
- Hybrid
- Road
- Cargo
- Youth
Global Bicycle market, By Technology:
- Electric
- Conventional
Global Bicycle Market, By Price
- Low Range
- Medium range
- Premium
Global Bicycle Market, By End User
- Kids
- Men
- Women
Global Bicycle market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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