Bicycle Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
Bicycle Market Overview and Definition
The bicycle market is the market for bicycles, which are human-powered vehicles consisting of two wheels and a frame. Bicycles are used for transportation, exercise, recreation, and sports, and are popular all around the world. The market includes various types of bicycles such as road bikes, mountain bikes, hybrid bikes, electric bikes, and others.
The bicycle market is driven by various factors such as growing environmental concerns, increasing health and fitness awareness, and rising fuel prices. Bicycles are considered a sustainable mode of transportation and are also cost-effective compared to other modes of transportation.
The bicycle market can be segmented based on product type, end-user, and geography. The product type segment includes road bikes, mountain bikes, hybrid bikes, electric bikes, and others. The end-user segment includes adults and children. Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
The key players in the bicycle market include Giant Manufacturing Co. Ltd., Accell Group, Merida Industry Co. Ltd., Dorel Industries Inc., and Trek Bicycle Corporation. These companies offer a range of bicycles and related products such as accessories, clothing, and spare parts.
The bicycle market is highly competitive, with several large and small players offering a range of products and services. The market is characterized by the presence of several established players as well as new entrants. In recent years, there has been a growing trend towards e-bikes, which are electric bicycles that offer an alternative to traditional bicycles.
Growth Drivers & Barriers
Increasing adoption of green transportation coupled with rising health concerns among population is anticipated to impel the growth of the bicycle market during the forecast period. Apart from this, rising application of bicycle in trekking and recreational activities is expected to supplement the growth of the market.
Rise in the number of cycling events across the globe is believed to aid the growth of the global bicycle market. Addition to that, government of various nations are encouraging the adoption of bicycle to reduce carbon footprint. This is envisioned to strengthen the growth of the market in the years ahead.
Rising traffic congestion issues and rising fuel prices are few of the major factors which are believed to propel the market in the upcoming years. Furthermore, health related benefits of riding bicycles such as low obesity and others is also believed to create significant demand for bikes during the forecast period. Moreover, manufactures are continuously launching new bicycles with various advanced features which is gaining traction among consumers.
In the terms of geography, the bicycle market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, Asia Pacific is slated to account for highest percentage of market share in overall bicycle market during the forecast period. Europe bicycle market accounted for second position in overall bicycle market in 2019.
The research offers a comprehensive analysis of bicycle market with respect to following sub-markets:
By Product Type
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as;
- Accell Group
- Atlas Cycles Ltd.
- Dorel Industries
- Giant Bicycles
- Specialized Bicycle Components
- Olympus Corp
- Scott Sports
- Cervelo Bicycles
- Trek Bicycle
- Others Major and Niche Key Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in Bicycle market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global bicycle market by the following segments:
- Product Type
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global Bicycle Industry Report:
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?