+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Asia-Pacific Bicycle Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • PDF Icon

    Report

  • 80 Pages
  • August 2022
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 5119703
The Asia-Pacific bicycle market is projected to register a CAGR of 4.68% during the forecast period (2022-2027).

Bicycle sales initially plummeted due to the closure of offline stores across countries due to COVID-19 pandemic restrictions. However, demand for bicycles has recently increased, with a significant increase in consumers attempting to avoid public transportation due to fear of contracting the virus. Furthermore, with consumers becoming more health-conscious, bicycles are now seen as a more dependable and healthy mode of transportation, fostering sales.

An increasing number of cycling events and favorable government and employer initiatives are expected to drive the market studied. Furthermore, there are various governing bodies in Asia-Pacific, such as The Cycling Federation of India and The Chinese Cycling Association, which promote road racing, touring and leisure cycling, track racing, off-road racing events, and mountain cycling events.

Countries like China and Japan are some of the leading countries where e-bikes have grown their prominence. Some major reasons considered for adopting and driving e-bikes around the Asia-Pacific are health benefits, avoidance of traffic congestion, environmental benefits, and increased demand for e-bikes as sports equipment.

Key Market Trends


Continuation of Increasing Demand for Bicycles in India


Cycling is and has been a major mode of mobility in India. Traffic surveys in India show that cycle trips account for more than 15% of trips in most towns and even in a large cities, such as Delhi, Mumbai, and others, as cycling accounts for over 10% of trips in these cities (as per the report published by All India Cycle Manufacturers’ Association (AICMA). Moreover, bicycles play a major role in enabling the livelihoods of urban consumers by providing a cost-effective transport option. In recent years, health and environmental quality and the concept of smart cities have emerged as the new drivers of supporting cycling activity. Still, growth due to these drivers has been constrained by the cycle-unfriendly environment and infrastructure in the Indian cities.



Increasing Inclination Toward E-Bicyles


E-bicycle features an electric motor to power, which has taken off over the last few years with numerous models available in the market, produced by various regional and global manufacturers. Moreover, there has been a continuous focus on innovation in the e-bikes segment by the major manufacturers. E-bikes are being launched and sold in the market in different types, such as e-mountain bicycles, e-road bikes, and e-hybrid bikes. E-mountain bikes are bicycles with electric motors. For instance, in 2022, Lifestyle e-mobility startup VAAN Electric Moto Pvt. Ltd launched its all-new electric bicycle in India. The e-bike is available in two variants - Urbansport and Urbansport Pro.



Competitive Landscape


The Asia-Pacific bicycle market is highly fragmented and comprises many international and regional players. The market is dominated by some key players, like Merida Industry Co. Ltd, Hero Cycles Limited, and Giant Manufacturing Co. Ltd. The major companies in this market are venturing into manufacturing and innovating in the e-bicycles department, increasing their presence in the Asian countries. Keeping the growth potential of the Asia-Pacific bicycle market, the major players are adopting various strategies to capture the market shares.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Road Bicycles
5.1.2 Hybrid Bicycles
5.1.3 All Terrain Bicycles
5.1.4 E-Bicycles
5.1.5 Other Types
5.2 By Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 By Country
5.3.1 India
5.3.2 Australia
5.3.3 China
5.3.4 Japan
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Bridgestone Corporation
6.4.2 HMC Group
6.4.3 Nixeycles
6.4.4 MERIDA INDUSTRY CO. LTD
6.4.5 Giant Bicycles
6.4.6 Accell Group
6.4.7 Dorel Industries Inc.
6.4.8 Benno Bikes LLC
6.4.9 Pedego Inc.
6.4.10 Avon Cycles Ltd
6.5 *List Not Exhaustive
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bridgestone Corporation
  • HMC Group
  • Nixeycles
  • MERIDA INDUSTRY CO. LTD
  • Giant Bicycles
  • Accell Group
  • Dorel Industries Inc.
  • Benno Bikes LLC
  • Pedego Inc.
  • Avon Cycles Ltd

Methodology

Loading
LOADING...