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Bicycles - Global Market Trajectory & Analytics

  • ID: 338773
  • Report
  • February 2022
  • Region: Global
  • 607 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Accell Group N. V.
  • Currie Technologies®
  • Giant
  • Merida Industry Co., Ltd.
  • Santa Cruz Bicycles
  • Tandem Group plc

Global Bicycles Market to Reach $78 Billion by 2026


Growing consumer inclination towards maintaining a healthy lifestyle, technological advancements, new product introductions, growing global health awareness, the environmental benefits of cycling, rising fuel/energy prices, and government initiatives are major factors bolstering demand in the market. Initiatives taken by governments in various countries in terms of establishing the necessary infrastructure, and growing number of cycling events is also propelling demand for various types of bicycles. The popularity of electric bikes is increasing day-by-day, boosted by the launch of an array of electric bike styles and models. The pandemic is anticipated to bring a long-term change in consumer preference and considerably benefit the market in the coming years. The bicycle industry witnessed a notable surge in sales as people avoided using public transport due to risk of infection.

Amid the COVID-19 crisis, the global market for Bicycles estimated at US$54.7 Billion in the year 2020, is projected to reach a revised size of US$78 Billion by 2026, growing at a CAGR of 6% over the analysis period. Hybrid Bicycles, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$34.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Road Bicycles segment is readjusted to a revised 4.4% CAGR for the next 7-year period.



The U.S. Market is Estimated at $9.5 Billion in 2021, While China is Forecast to Reach $16.5 Billion by 2026


The Bicycles market in the U.S. is estimated at US$9.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.5 Billion by the year 2026 trailing a CAGR of 7.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Cross-country bicycling is quite popular in the US and many new bike trails are being developed to cater to this segment. The popularity of mountain bikes also reflects this trend. While older users tend to use bicycles, especially electric powered bicycles as a means of local transportation, younger age group people utilize bicycles for recreation purposes such as cross-country biking. Bicycles are the most affordable form of transportation and are hence popular in developing countries. Congestion, affordability, and easy maneuverability of bicycles make Japan a major market.

Mountain Bicycles Segment to Reach $11.9 Billion by 2026


A mountain bicycle or mountain bike, also referred to as MTB or all-terrain bicycle (ATB), is a bike designed for off-road cycling. Wheels employed in mountain bicycles are designed wide and knobby for shock absorption and good traction on uneven terrain. The popularity of mountain bicycles can be attributed to two main factors. The first is, inclusion of mountain biking in Olympic Games since 1996. The second reason is promotion of mountain biking by the ski resort industry. In the global Mountain Bicycles segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6 Billion in the year 2020 will reach a projected size of US$9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2026, while Latin America will expand at a 6.2% CAGR through the analysis period.

Select Competitors (Total 870 Featured) -

  • Accell Group N. V.
  • Currie Technologies®
  • Raleigh Ltd.
  • Winora Staiger GmbH
  • Amer Sports Corporation
  • Atlas Cycles (Haryana) Ltd.
  • Avon Cycles Ltd.
  • Campagnolo S.r.l
  • Cycleurope AB
  • Dorel Industries Inc.
  • Cannondale Bicycle Corporation
  • Pacific Cycle Group
  • Schwinn Bicycles
  • Fox Factory, Inc.
  • Giant
  • Hamilton Industries Pvt. Ltd.
  • Hero Cycles Ltd.
  • Huffy Corporation
  • Merida Industry Co., Ltd.
  • Montague Corp.
  • M S Bhogal and Sons
  • Santa Cruz Bicycles
  • Shimano, Inc.
  • Specialized Bicycle Components, Inc.
  • SRAM LLC
  • Tandem Group plc
  • TI Cycles of India
  • Trek Bicycle Corp.
Frequently Asked Questions about the Global Market for Bicycles

What is the estimated value of the Global Market for Bicycles?

The Global Market for Bicycles was estimated to be valued at $54.7 Billion in 2020.

What is the growth rate of the Global Market for Bicycles?

The growth rate of the Global Market for Bicycles is 6.1%, with an estimated value of $78.0 Billion by 2026.

What is the forecasted size of the Global Market for Bicycles?

The Global Market for Bicycles is estimated to be worth $78.0 Billion by 2026.

Who are the key companies in the Global Market for Bicycles?

Key companies in the Global Market for Bicycles include Accell Group N. V., Currie Technologies®, Raleigh Ltd., Winora Staiger GmbH, Amer Sports Corporation, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Campagnolo S.r.l and Dorel Industries Inc..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accell Group N. V.
  • Currie Technologies®
  • Giant
  • Merida Industry Co., Ltd.
  • Santa Cruz Bicycles
  • Tandem Group plc

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Pandemic Makes Bicycles Sell Like Hot Cakes: Factors Driving Boom
  • Weak Economic Environment Discourages Overall Market Sentiments
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Disruption in Public Transport Usage & Fitness Regime Patterns Drive Bicycle Mad Rush: Hammered Economy Fails to Discourage Market Prospects
  • COVID-19 Impact on Key Regional Markets
  • US Bicycle Market Pedals Fast to Reach High Terrains
  • Europe Records Notable Jump in Bicycle Sales after Easing of COVID-19 Restrictions
  • COVID-19 Pandemic Augurs Well for Indian Bicycle Industry despite Challenges
  • An Introduction to Bicycle and its Components
  • Bicycles-Bill of Material
  • Bamboo Bicycles: Take a Ride on Your Imagination
  • Bike Sharing Programs: Inculcating Interest in Cycling
  • Bicycles: Biggest Innovations Ever
  • Bicycles Market: A Prelude
  • Global Bicycles Demand Growing at Healthy Pace
  • Market Overview
  • Leading Countries Bicycle Penetration Rate as a Percentage of Total Population (2019E)
  • Bicycle Parts and Accessories: A Review
  • Pricing of Bicycles
  • Global High-End Bicycles Market (2019E): Percentage Breakdown of Revenue by Region
  • Global Bicycle Market Rallies Ahead amid COVID-19 Crisis
  • Spike in Bicycle Sale amid COVID-19 Leaves Supply Chain High & Dry Temporarily
  • Hybrid Bicycles Gaining Ground
  • Road Bicycles: Riding High on Technology Evolution
  • Mountain Bike Segment Registers Rising Demand
  • Growth Restraints
  • Cycling in Developed and Developing Countries
  • Production & Export Scenario
  • Value Exports of Bicycles by Select Country (2019E)
  • Competitive Landscape
  • Key Players in Bicycles Supply Chain
  • Bicycles Product Mix of Merida (2019)
  • Bicycles Product Mix of Giant (2019)
  • Bicycle Division Revenue Breakdown of Accell by Geographic Region (2019)
  • Bicycle Revenue Breakdown of Accell by Segment (2019)
  • Bicycle Product Mix of Accell (2019)
  • Parts Division Revenue Breakdown of Accell by Geographic Region (2019)
  • Parts Product Mix of Accell (2019)
  • Bicycles Market for New Players: Opportunities and Challenges
  • Bicycle Components Market
  • Leading Players in the Global Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano and Others
  • Leading Players in the Global Road Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, KMC, FSA and Others
  • Leading Players in the Global Mountain Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, SRAM, KMC, and Others
  • Breakdown of Shimano’s Bicycle Components Sales (in %) by Geographic Region (2019)
  • Recent Market Activity
  • Select Global Brands
  • Bicycles - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Focus on Traffic Congestion and Environment Issues Spur Demand
  • Bicycling: A Potential Solution to Global Warming
  • CO2 Emissions (in Billion Tons of CO2) by Select Region/Country (2019)
  • Reduction in CO2 Emissions and Energy Usage
  • Rising Usage of Bikes in Urban Areas
  • Demand for Electric Bicycles Gains Momentum
  • World e-Bike Market (2020): Percentage Breakdown of Volume Sales by e-Bike Type for City, Touring, Mountain, Folding, and Others
  • World e-Bike Market (2019): Penetration Rate (in %) for Select Countries/Region
  • Definition of E-Bicycles in Select Regions
  • Oil Production Nearing Saturation: Stimulus for Electric-Bicycles
  • 27.5 Inches: An Emerging Standard in Mountain Bikes Segment
  • Wheels Become Stronger
  • Endurance Bikes: Futuristic Trend with High Potential
  • Carbon Technology: Permeating at Faster Rate
  • Disc Brakes to Emerge as New Standard for Road Bikes
  • Tubeless Tires Gain Steady Adoption Among Road Bikes
  • Fat Tires and Rims in Vogue
  • Folding Bicycles Witness Healthy Growth
  • Initiatives Encourage Bicycle Riding
  • Novel Sophisticated Features Improve Growth Prospects
  • Rising Car Ownership Rates in Developing Countries Adversely Impact Market
  • Global Passenger Cars Market (2019): Breakdown of Number of Cars per 1000 People in Select Countries
  • Metal Prices Pressure Manufacturers
  • Transforming from Traditional Manufacturing to High-tech Industry
  • Aggressive Promotions Spur Market Penetration
  • Technological Advancements & Improvements
  • Cyclist Safety First
  • Navigation Convenience
  • Bike Security
  • Select Key Innovations-2019
  • Innovations in Bicycles Segment in the Recent Past
  • Innovative E-Bikes
  • Gearing
  • Electronic Shifting
  • “Self-filling” Bottle
  • Bicycle Seat for Elderly
  • BSMART Technology
  • Collision-warning Sensor
  • Power Generating Bicycles
  • Copenhagen Wheel
  • Bike Trainer
  • Innovative Products and Solutions
  • Innovations in Bicycling Ecosystem
  • Innovative Options for Bicycle Parking to Promote Biking
  • Innovations that Address Disaster Management Plans
  • Distribution Channels
  • Spike in Online Sales

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • COVID-19 Pandemic Leads to Increased Interest in Cycling, Benefiting Bicycle Sales
  • Focus on Health & Fitness and Recreational Cycling Fuels Market Prospects
  • US Bicycles Market: Percentage Breakdown of Cyclists by Gender for 2019
  • US Bicycles Market: Percentage Breakdown of Cyclists by Age Group for 2019
  • Cycling Grows in Importance for Transportation
  • Cars Remain the Preferred Transportation Mode: % of Americans Commuting by Mode of Transportation for 2019
  • Changing Consumer Preferences & Innovations Spur Market Opportunities
  • Biking Infrastructure and Adoption of Bike-Friendly Initiatives Drive Growth
  • Electric Bicycles Continue to Gain Popularity
  • Carbon Fiber Usage Drives Outsourcing in Bicycle Production
  • Manufacturers Focus on Commuter Bicycles
  • Distribution Channels
  • US Bicycles Market: Percentage Breakdown of Value Sales by Distribution Channel for 2019
  • Competition
  • US Bicycle Market: Percentage Breakdown of Sales Volume by Leading Brands for 2019
  • US Road Bicycles Market Breakdown of Sales (in %) by Brand for 2019
  • US Mountain Bicycles Market: Percentage Breakdown of Sales by Brand for 2019
  • US Hybrid Bicycles Market Breakdown of Sales (in %) by Brand for 2019

CANADA

  • Market Structure
  • Bike Rental Schemes Gain Popularity
  • End Users

JAPAN

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • A Primer
  • Japanese Bicycles Market (2020E): Percentage Breakdown of Volume Production by Category
  • Shimano Bicycle Component Sales (2019E): Percentage Breakdown of Value Sales by Geographic Region
  • E-bikes Market Segment to Expand

CHINA

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Chinese Bicycles Market (2019E): Percentage Breakdown of Volume Demand by Category
  • Chinese Bicycles Market (2019E): Percentage Breakdown of Sales by Distribution Channel
  • Growing Disposable Incomes to Spur Demand for High-End Bicycles
  • Chinese High-End* Bicycles Market (2019E): Percentage Breakdown of Value Sales by Company
  • Demand for E-Bikes: A Review
  • Electric Bike Ownership in China (2016-2022E)
  • Market Regulations on E-Bikes
  • Bike Sharing Influences Bicycles Trends
  • Export Scenario

EUROPE

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • COVID-19 Ramps Up Popularity of Bicycles in Europe
  • European Funding for Cycling (Euro per Person) during COVID-19: January-September 2020
  • e-bikes Grow in Popularity
  • E-Bike Sales in Europe in Million Units: 2010-2019
  • European Electric Bicycles Market (2019): Percentage Breakdown of Volume Sales by Select Leading Countries
  • Children’s Bicycle Market
  • Bicycle Sharing Schemes to Benefit Demand
  • Cycle Production in Europe
  • Bicycle Production in EU 27: Production in Million Units for 2012 through 2019
  • Bicycle Production in EU by Country: 2019
  • Major Cycling Trends
  • Road and Mountain Bikes: Key Prevailing Trends

FRANCE

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • COVID-19 Speeds up Cycling Initiatives
  • Electric-Powered Bicycles Gain Momentum
  • City Bikes Remain Popular
  • French Bicycle Market (2019): Percentage Breakdown by Usage Type for Leisure, Mobility, and Sports

GERMANY

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • COVID-19 Leads to Spike in Bicycle Usage
  • Market Overview
  • Frequency of Use of Bicycles in Germany among Adults
  • The Newsmakers
  • Channels of Distribution
  • German Bicycle Market (2019): Percentage Breakdown of Volume Sales by Distribution Channel - Specialist Bicycle Dealers, Mass Merchants/Alternative Channels, and Online
  • Specialist Bicycle Shops Gain Significance

ITALY

  • Market Overview

UNITED KINGDOM

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Scenario
  • UK Bicycle Market (2020E): Percentage Breakdown of Volume Sales by Type for Mountain Bicycles, Road Bicycles, Hybrid Bicycles, Youth Bicycles, and Others
  • Bicycle Market in the UK (2020E): Percentage Breakdown of Value Sales by Bicycle User Group - Commuters, Enthusiast, Family User, and Recreational User
  • Cycling in the UK (2020E): Percentage Breakdown of Distance Travelled by Frequency of Use by Cyclists/Bicycle Users
  • The UK Bicycle Market (2020E): Bicycle Ownership (in %) by Age Group
  • Market Bogged Down by Lower Participation in Cycling
  • Folding Bikes Market
  • Retail Scenario

SPAIN

  • Market Overview
  • Bicycles Market in Spain (2020E): Percentage Breakdown of Value Sales by Distribution Channel - Sporting Goods Stores, Specialist Dealers, Supermarkets/Hypermarkets, and Online

RUSSIA

  • NETHERLANDS
  • Market Overview
  • Mode of Commutation in the Netherlands (2020E): Percentage Breakdown of Mobility Preference - Car, Public Transport, Walking, Cycling, and Others
  • Bicycles Ride Smooth in Netherlands
  • Bicycle Market in the Netherlands (2020E): Percentage Breakdown of Volume Sales by Distribution Channel
  • Bicycle Market in the Netherlands (2020E): Percentage Breakdown of Volume Sales by Bicycle Type - New and Pre-Owned

REST OF EUROPE

  • FOCUS ON SELECT MARKETS
  • Austria
  • Denmark
  • Finland
  • Norway
  • Sweden
  • Switzerland
  • The Czech Republic

ASIA-PACIFIC

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Revival of the Bicycle Industry: The Key to Health and Wealth of a Nation
  • Vital Statistics of Asian Bicycle Industry
  • Pedaling Tourism: A Booming Industry
  • Clearing the Blocks: The Philippines Way
  • Bike-Sharing Schemes: Enabling Integration of Cycling in Public Transport

AUSTRALIA

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
  • What’s New Down Under?
  • Who’s Biking and Why?
  • Government and Community Support Vital for Growth

INDIA

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview
  • Cycles Market in India (2019E): Percentage Breakdown of Value Sales by Leading Players
  • Cycles Market in India (2019E): Penetration Rate in % by Rural and Urban Household
  • Cycles Market in India (2019E): Penetration Rate in % by Asset Class
  • Cycling its Way into the Urban Market
  • The Premium, Lifestyle and Fancy Bike Market
  • Manufacturers Drawn Towards Tier-2 Cities
  • Internet Media and Other Marketing Initiatives
  • ‘Made in China’ Threatens India
  • Anti-Dumping Duties Offer Respite

SOUTH KOREA

  • Market Overview
  • Penetration Rate of Bicycles in South Korea for 2011 to 2019E (in %)
  • Number of Registered Bicycles in South Korea for 2011 to 2019E (in Millions)

REST OF ASIA-PACIFIC

  • FOCUS ON SELECT MARKETS
  • Indonesia
  • Pakistan
  • Singapore
  • Taiwan
  • Government Plans to Develop the Country as a “Bike Island”
  • Electric Bikes Segment Set to Witness Strong Growth
  • China: The Destination of Choice
  • Historic Background

LATIN AMERICA

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA

  • Market Overview

BRAZIL

  • Bicycle Industry to Exhibit Growth

MEXICO

REST OF LATIN AMERICA

  • Guatemala: A Niche Market

MIDDLE EAST

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Bicycles Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 870
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Accell Group N. V.
  • Currie Technologies®
  • Raleigh Ltd.
  • Winora Staiger GmbH
  • Amer Sports Corporation
  • Atlas Cycles (Haryana) Ltd.
  • Avon Cycles Ltd.
  • Campagnolo S.r.l
  • Cycleurope AB
  • Dorel Industries Inc.
  • Cannondale Bicycle Corporation
  • Pacific Cycle Group
  • Schwinn Bicycles
  • Fox Factory, Inc.
  • Giant
  • Hamilton Industries Pvt. Ltd.
  • Hero Cycles Ltd.
  • Huffy Corporation
  • Merida Industry Co., Ltd.
  • Montague Corp.
  • M S Bhogal and Sons
  • Santa Cruz Bicycles
  • Shimano, Inc.
  • Specialized Bicycle Components, Inc.
  • SRAM LLC
  • Tandem Group plc
  • TI Cycles of India
  • Trek Bicycle Corp.
Note: Product cover images may vary from those shown