Bicycle Manufacturing in the US - Industry Market Research Report

Riding On: The Industry Will Rely on High-Margin, High-End Bikes for Renewed Growth

Bicycle manufacturers make new bikes and parts for upgrades and repairs. Demand for this industry comes from a few different places. Primarily demand stems from rising disposable income and consumer spending. While per capita disposable income and consumer spending rose throughout the period, revenue growth was still diminished due to heightened import penetration. Essentially US manufacturers did not fully feel the growth in demand because most of it was met with cheaper imports. As COVID-19 swept through the nation in 2020, consumers were mandated to stay at home and remain socially distanced. As a result, people needed an avenue to entertain themselves, so many looked to biking to stave off boredom. Cycling offered a way to get outside, exercise and be socially distant. This boom resulted in heightened revenue growth in 2020. Import penetration is the single biggest threat to domestic producers, with imports expected to remain high through 2023, and further revenue is expected to remain depressed as a result. Overall, revenue for bicycle manufacturers is expected to grow at a CAGR of 0.9% to $1.1 billion over the five years to 2023, with an anticipated jump of 1.1% in 2023 alone. This industry manufactures bicycles. These products are used for transportation, leisure travel and sport, and competitive racing. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.