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Bicycles - Global Market Trajectory & Analytics

  • ID: 338773
  • Report
  • January 2021
  • Region: Global
  • 553 Pages
  • Global Industry Analysts, Inc
Cycling for Health & the Environment Gets a Big Thumbs-Up. Bicycle Sales to Reach U$82.3 Billion.

The global market for Bicycle is expected to reach US$ 82.3 billion by the year 2027, trailing a post COVID-19 CAGR of 6% over the analysis period 2020 through 2027. An interesting fallout of the pandemic and the associated restrictions imposed by various countries is increased interest in cycling. People are avoiding public transit given the infection risk leading to a mini bicycle boom, enabling bike riding to emerge into an effective alternative to crowded public transit, while simultaneously allowing people to engage in physical exercise while conforming to social distancing guidelines. While the pandemic impacted supply chains and coerced companies to temporarily shut down manufacturing facilities, the bicycle industry has enjoyed notable surge in sales, especially for mid-range bicycles. Riding a bike is emerging as one of the hottest trends owing to increasing focus of people to stay active and avoid public transport. Bicycle sales are further propelled by decision of various countries, mainly in Europe, to provide bike buyers with attractive subsidies. In addition, several cities are looking forward to new and extensive bike lanes. Customer optimism regarding bikes is also enabling manufacturers to enjoy immense gains. The surge in demand for mid-range and entry-level bicycle models has outstripped inventory in Europe and the US. The situation is driving manufacturers to ramp up production and ensure maximum utilization of resources including workers for meeting demand. In addition, manufacturers of bikes and related components are reorganizing global supply chains for getting ready to further boost in demand.

The bicycle market in Europe has resurfaced dramatically after displaying a weak performance in the first quarter of 2020. The market witnessed a notable spike in sales following easing of COVID-19-related lockdowns and restrictions across countries. The bicycle market is receiving a major push from increasing spending from the middle-class population along with surge in sales of high-end products. The trend is particularly evident in countries like the UK, Germany, Spain and France. In contrast to other markets that have been adversely affected by reduced consumer spending, the bicycle market in the UK is exhibiting high degree of resilience. Majority of people in the country are looking forward to maintain and even increase spending on bicycles in comparison to the pre-lockdown phase. The government allowed bicycle shops to remain open amid the COVID-19-related lockdown. In addition, the UK market is benefitting from various initiatives announced by the government and market participants. The government's 'Fix your Bike Voucher Scheme' is intended to allow stakeholders to register as bike repairer. Moreover, the scheme enables people to secure a voucher toward the cost of bike repairing. On the other side, several companies have introduced volunteer program to help retailers with a spike in sales, mainly for repairs and services. These initiatives are anticipated to ensure prompt delivery of services and drive more customers to embrace the trend.



Hybrid bicycles are incredibly gaining popularity amongst different age groups owing to the many benefits the bicycle type offers in terms of usability, comfort and stability. Hybrid bicycles offer a very comfortable riding experience on a variety of road surfaces, while combining the characteristics of a mountain bike, touring bike and road bike. Growing inclination towards cycling as part of leisure-time activity will likely propel growth of the market for hybrid bikes. Looking to tap into this strong growth, bicycle companies are competing on a global scale to introduce new bike models. Companies are coming up with new hybrid variants incorporating gender-specific features. Today, a handful of companies offer hybrid vehicles for kids, women and men. Manufacturers are also making strong attempts to meet or exceed riders' demand for increased levels of safety, control, balance and grip. Most of the city roads, motorways and highways across the globe are struggling to cope with the rapid growth in number of vehicles, resulting in traffic congestions. Traffic congestions most often leads to fuel wastage, increase in vehicular accidents, rise in carbon emissions, and loss of working hours, thereby proving to be a commuter's nightmare. The need to curb such traffic congestions and vehicular pollution especially is driving many governments across the globe to design and implement sophisticated traffic control strategies. As traffic management emerges as a top agenda for urban road authorities, low pollution emitting transportation means such as bicycles are increasingly being included into the transportation mix. Bicycles, apart from their general functionality as a means for commuting, are gaining popularity and are making a comeback in many countries across the world due to their ability to effectively resolve environmental and traffic congestion issues associated with other transport systems like cars. With regard to the environment aspect, bicycles are being viewed as good alternatives to cars for short distances, as they do not add to environmental pollution, while also not consuming any form of fuel. Car emissions contribute to 60% of the pollution in cities while bicycles account for zero pollution. Bikes are also being viewed as an effective method for tackling traffic congestion problems as they occupy lesser space on roads and are easily maneuverable and require relatively minimal space for parking.

Select Competitors (Total 295 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.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • 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
  • EXHIBIT 1: 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
  • EXHIBIT 2: 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
  • EXHIBIT 3: Leading Countries Bicycle Penetration Rate as a Percentage of Total Population (2019E)
  • Bicycle Parts and Accessories: A Review
  • Pricing of Bicycles
  • EXHIBIT 4: 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
  • EXHIBIT 5: Value Exports of Bicycles by Select Country (2019E)
  • Competitive Landscape
  • Key Players in Bicycles Supply Chain
  • EXHIBIT 6: Bicycles Product Mix of Merida (2019)
  • EXHIBIT 7: Bicycles Product Mix of Giant (2019)
  • EXHIBIT 8: Bicycle Division Revenue Breakdown of Accell by Geographic Region (2019)
  • EXHIBIT 9: Bicycle Revenue Breakdown of Accell by Segment (2019)
  • EXHIBIT 10: Bicycle Product Mix of Accell (2019)
  • EXHIBIT 11: Parts Division Revenue Breakdown of Accell by Geographic Region (2019)
  • EXHIBIT 12: Parts Product Mix of Accell (2019)
  • Bicycles Market for New Players: Opportunities and Challenges
  • Bicycle Components Market
  • EXHIBIT 13: Leading Players in the Global Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano and Others
  • EXHIBIT 14: Leading Players in the Global Road Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, KMC, FSA and Others
  • EXHIBIT 15: Leading Players in the Global Mountain Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, SRAM, KMC, and Others
  • EXHIBIT 16: Breakdown of Shimano’s Bicycle Components Sales (in %) by Geographic Region (2019)
  • Recent Market Activity
  • Select Global Brands
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
  • EXHIBIT 17: 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
  • EXHIBIT 18: World e-Bike Market (2020): Percentage Breakdown of Volume Sales by e-Bike Type for City, Touring, Mountain, Folding, and Others
  • EXHIBIT 19: 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
  • EXHIBIT 20: 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
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • Market Overview
  • COVID-19 Pandemic Leads to Increased Interest in Cycling, Benefiting Bicycle Sales
  • Focus on Health & Fitness and Recreational Cycling Fuels Market Prospects
  • EXHIBIT 21: US Bicycles Market: Percentage Breakdown of Cyclists by Gender for 2019
  • EXHIBIT 22: US Bicycles Market: Percentage Breakdown of Cyclists by Age Group for 2019
  • Cycling Grows in Importance for Transportation
  • EXHIBIT 23: 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
  • EXHIBIT 24: US Bicycles Market: Percentage Breakdown of Value Sales by Distribution Channel for 2019
  • Competition
  • EXHIBIT 25: US Bicycle Market: Percentage Breakdown of Sales Volume by Leading Brands for 2019
  • EXHIBIT 26: US Road Bicycles Market Breakdown of Sales (in %) by Brand for 2019
  • EXHIBIT 27: US Mountain Bicycles Market: Percentage Breakdown of Sales by Brand for 2019
  • EXHIBIT 28: US Hybrid Bicycles Market Breakdown of Sales (in %) by Brand for 2019
  • Market Analytics
  • CANADA
  • Market Structure
  • Bike Rental Schemes Gain Popularity
  • End Users
  • Market Analytics
  • JAPAN
  • A Primer
  • EXHIBIT 29: Japanese Bicycles Market (2020E): Percentage Breakdown of Volume Production by Category
  • EXHIBIT 30: Shimano Bicycle Component Sales (2019E): Percentage Breakdown of Value Sales by Geographic Region
  • E-bikes Market Segment to Expand
  • Market Analytics
  • CHINA
  • Market Overview
  • EXHIBIT 31: Chinese Bicycles Market (2019E): Percentage Breakdown of Volume Demand by Category
  • EXHIBIT 32: Chinese Bicycles Market (2019E): Percentage Breakdown of Sales by Distribution Channel
  • Growing Disposable Incomes to Spur Demand for High-End Bicycles
  • EXHIBIT 33: Chinese High-End* Bicycles Market (2019E): Percentage Breakdown of Value Sales by Company
  • Demand for E-Bikes: A Review
  • EXHIBIT 34: Electric Bike Ownership in China (2016-2022E)
  • Market Regulations on E-Bikes
  • Bike Sharing Influences Bicycles Trends
  • Export Scenario
  • Market Analytics
  • EUROPE
  • COVID-19 Ramps Up Popularity of Bicycles in Europe
  • EXHIBIT 35: European Funding for Cycling (Euro per Person) during COVID-19: January-September 2020
  • e-bikes Grow in Popularity
  • EXHIBIT 36: E-Bike Sales in Europe in Million Units: 2010-2019
  • EXHIBIT 37: 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
  • EXHIBIT 38: Bicycle Production in EU 27: Production in Million Units for 2012 through 2019
  • EXHIBIT 39: Bicycle Production in EU by Country: 2019
  • Major Cycling Trends
  • Road and Mountain Bikes: Key Prevailing Trends
  • Market Analytics
  • FRANCE
  • COVID-19 Speeds up Cycling Initiatives
  • Electric-Powered Bicycles Gain Momentum
  • City Bikes Remain Popular
  • EXHIBIT 40: French Bicycle Market (2019): Percentage Breakdown by Usage Type for Leisure, Mobility, and Sports
  • Market Analytics
  • GERMANY
  • COVID-19 Leads to Spike in Bicycle Usage
  • Market Overview
  • EXHIBIT 41: Frequency of Use of Bicycles in Germany among Adults
  • The Newsmakers
  • Channels of Distribution
  • EXHIBIT 42: 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
  • Market Analytics
  • ITALY
  • Market Overview
  • Market Analytics
  • UNITED KINGDOM
  • Market Scenario
  • EXHIBIT 43: UK Bicycle Market (2020E): Percentage Breakdown of Volume Sales by Type for Mountain Bicycles, Road Bicycles, Hybrid Bicycles, Youth Bicycles, and Others
  • EXHIBIT 44: Bicycle Market in the UK (2020E): Percentage Breakdown of Value Sales by Bicycle User Group - Commuters, Enthusiast, Family User, and Recreational User
  • EXHIBIT 45: Cycling in the UK (2020E): Percentage Breakdown of Distance Travelled by Frequency of Use by Cyclists/Bicycle Users
  • EXHIBIT 46: The UK Bicycle Market (2020E): Bicycle Ownership (in %) by Age Group
  • Market Bogged Down by Lower Participation in Cycling
  • Folding Bikes Market
  • Retail Scenario
  • Market Analytics
  • SPAIN
  • Market Overview
  • EXHIBIT 47: Bicycles Market in Spain (2020E): Percentage Breakdown of Value Sales by Distribution Channel - Sporting Goods Stores, Specialist Dealers, Supermarkets/Hypermarkets, and Online
  • Market Analytics
  • RUSSIA
  • NETHERLANDS
  • Market Overview
  • EXHIBIT 48: Mode of Commutation in the Netherlands (2020E): Percentage Breakdown of Mobility Preference - Car, Public Transport, Walking, Cycling, and Others
  • Bicycles Ride Smooth in Netherlands
  • EXHIBIT 49: Bicycle Market in the Netherlands (2020E): Percentage Breakdown of Volume Sales by Distribution Channel
  • EXHIBIT 50: Bicycle Market in the Netherlands (2020E): Percentage Breakdown of Volume Sales by Bicycle Type - New and Pre-Owned
  • Market Analytics
  • REST OF EUROPE
  • Focus on Select Markets
  • Austria
  • Denmark
  • Finland
  • Norway
  • Sweden
  • Switzerland
  • The Czech Republic
  • Market Analytics
  • ASIA-PACIFIC
  • 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
  • Market Analytics
  • AUSTRALIA
  • What’s New Down Under?
  • Who’s Biking and Why?
  • Government and Community Support Vital for Growth
  • Market Analytics
  • INDIA
  • Market Overview
  • EXHIBIT 51: Cycles Market in India (2019E): Percentage Breakdown of Value Sales by Leading Players
  • EXHIBIT 52: Cycles Market in India (2019E): Penetration Rate in % by Rural and Urban Household
  • EXHIBIT 53: 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
  • Market Analytics
  • SOUTH KOREA
  • Market Overview
  • EXHIBIT 54: Penetration Rate of Bicycles in South Korea for 2011 to 2019E (in %)
  • EXHIBIT 55: Number of Registered Bicycles in South Korea for 2011 to 2019E (in Millions)
  • Market Analytics
  • 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
  • Market Analytics
  • LATIN AMERICA
  • ARGENTINA
  • Market Overview
  • Market Analytics
  • BRAZIL
  • Bicycle Industry to Exhibit Growth
  • Market Analytics
  • MEXICO
  • REST OF LATIN AMERICA
  • Guatemala: A Niche Market
  • Market Analytics
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 158
Note: Product cover images may vary from those shown
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