Bicycle Market Report by Technology, Industry Share and Size Expansion to 2026 | Fortune Business Insights™
The global ''bicycle market size'' is expected toexperience exponential growth by reaching USD 147.24 billion by 2027 whileexhibiting a CAGR of 6.1% between 2020 and 2027. This growth is ascribable tofactors such as the increasing focus on developing eco-friendly cycles by themanufacturers and the rising incidence of obesity among the population thatpromotes bicycle riding globally. This information is published by FortuneBusiness Insights in its latest report, titled, “Bicycle Market Size,Share & COVID-19 Impact Analysis, By Type (Road, Mountain, Hybrid, andOthers), Technology (Electric and Conventional), End-User (Men, Women, andKids), and Regional Forecast, 2020-2027.” The report further observesthat the market stood at USD 65.43 billion in 2019
Increasing Focus on Maintaining FitnessLevels to Surge Bicycle Sales amid COVID-19
The growing awareness regarding theneed to ensure the overall well-being of health leads people to adopt fitnessregimes that include walking, gym, and cycling. This is expected to boost thesales of cycles owing to the rising demand for cycling as a recreational sportamong the population. Additionally, the ensuing lockdown amid the COVID-19 hashalted public transport services that is likely to propel the demand for cyclesglobally.
COVID-19 Impact Analysis:
The coronavirus incident has causedcolossal loss to several industries across the globe. The governments ofseveral countries have instigated lockdown to thwart the spread of this deadlyvirus. Such plans have caused disturbances in the production and supply chain.But, with time and resolution, we will be able to combat this stern time andget back to normality. Our well-revised reports will help companies to receivein-depth information about the present scenario of every market so that you canadopt the necessary strategies accordingly.
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List of the Companies Profiled in theGlobal Bicycle Market:
- Hero Motocorp Ltd. (New Delhi, India)
- Roth Distributing Co. Ltd. (Minnesota, U.S.)
- Dorel Industries Inc. (Westmount, Canada)
- Kona Bikes (Washington, U.S)
- Chimera Investments LLC. (Cambiago, Italy)
- Pon Holdings BV (Toronto, Canada)
- Grimaldi Industri AB (Treviglio, Italy)
- Orbea Corporation (Mallabia, Spain)
- The Raleigh Bicycle Company (Eastwood, U.K.)
- Accel Group N.V. (Heerenveen, Netherland)
A bicycle is either a human-powered ora motor-powered vehicle consisting of two wheels attached to a frame. They area principal medium of transportation in several countries across the globe.Having undergone tremendous changes since its inception, the manufacturers aremore focused on introducing safe and comfortable riding vehicles for thepopulation globally.
What does the Report Include?
The market report includes qualitativeand quantitative analysis of several factors such as the key drivers andrestraints that will impact growth. Additionally, the report provides insightsinto the regional analysis that covers different regions, contributing to thegrowth of the market. It includes the competitive landscape that involves theleading companies and the adoption of strategies to announce partnerships,introduce new products, and collaborate that will further contribute to thegrowth of the market between 2020 and 2027. Moreover, the research analyst hasadopted several research methodologies such as Porter’s Five Forces analysis toextract information about the current trends and industry developments thatwill drive the market growth during the forecast period.
DRIVING FACTORS
Increasing Prevalence of Obesity toFavor Growth
According to the World HealthOrganization (WHO), in 2019, about 38 million children under the age group of 5were found to be suffering from obesity. The increasing incidence of obesityamong the younger population is propelling the need to adopt a healthylifestyle across the globe. With more focus on improving health and fitness,people globally turn towards recreational activities such as cycling, walking,and others that are likely to favor the demand for advanced bicycles.Furthermore, the manufacturers are keen on introducing sustainable cycleproducts to cater to the growing demand for eco-friendly cycles contributing tothe global bicycle market growth in the forthcoming years.
SEGMENTATION
Road Segment Held 35.38% Market Sharein 2019
The road segment, based on type, isexpected to gain momentum owing to the growing number of bicycle ridingcommuters that are preferring several types of cycles such as mountain bikes,electric bikes, and others for their daily cycling routine on roads.
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REGIONAL INSIGHTS
Asia-Pacific to Remain at Forefront;Presence of Large Production Facilities to Favor Growth
Among all the regions, Asia-Pacific isexpected to remain dominant and hold the highest position in the global marketduring the forecast period. This dominance is attributable to the presence oflarge production facilities that enables the manufacturers to developinnovative bikes in the region between 2020 and 2027.
The market in Europe is expected toexperience significant growth backed by favorable government initiatives todevelop charging infrastructure for electric bicycles in the region between2020 and 2027.
COMPETITIVE LANDSCAPE
Partnerships by Major Companies toBrighten Their Market Prospects
The global bicycle market isconsolidated by the presence of several companies that are focusing onmaintaining their presence and further gaining a major chunk of share in termsof revenue. They are doing so by focusing on establishing a partnership withother companies to expand their cycle product portfolio and cater to thegrowing demand for advanced road bikes during the forecast period.
Bicycle Market Report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market byvarious segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecastperiod?
What Factors are estimated to drive and restrain the market growth?
Industry Development:
February 2020: Saris, an exercise & fitness related equipmentmaker, announced its partnership with the U.S. based indoor specialist, eSportscycling team. The partnership is aimed at expanding the cycling business underthe sports cycle segment.
Browse Detailed Summary of ResearchReport with TOC:
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
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- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Bicycle Market Analysis, Insights, and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Road
- Mountain
- Hybrid
- Others
- By Technology (Value)
- Electric
- Conventional
- By End-User (Value)
- Men
- Women
- Kids
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
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