Bicycle Market - Size, Share, Outlook, and Opportunity Analysis, 2019

A bicycle or bike is a human-powered or pedal-driven vehicle, with two wheels attached to a frame. Bicycles are used for various purposes including sports, daily commute, and adventure sports. There are different types of bicycles available in the market including mountain bikes, road bikes, sports bikes, and hybrid bikes. Although bicycles have been used since the 19th century, it has evolved massively over the years, with the production of lighter and faster bikes. Different accessories are now being added to bicycles such as luggage carriers, front-mounted baskets, child seats, training wheels, etc.

Market Dynamics

Modern lifestyle and hectic schedules have forced people to work without ample exercise. With increasing intake of junk food, health issues such as obesity are arising at a very early age. According to the World Health Organization (WHO), in 2014, 114 nations including Europe, Middle East, and the Americas were having over half of the adult population obese. On the contrary, a healthy and more nature-friendly lifestyle is becoming more and more popular with raising awareness about the hazards caused by obesity. Many studies have revealed that bicycling burns around 500 – 700 calories per hour. Various countries have started adopting bicycle riding as an effective way of burning fat and maintaining normal body mass. Even Doctors advise the general public around the world to use bicycles as a must-have tool for living a healthy life, whether they are obese or not. Thus, these factors are expected to drive growth of the market in the near future. The major disadvantage offered by bicycles is that it does not require external fuel or source of supply to drive. Since the natural resources are limited and draining rapidly, adopting bicycles is crucial to avoid depletion of resources. In order to save oil and fuel, customers more often tend to cycle to the distances which are close enough for them. Furthermore, consumers are also saving a significant amount of money by not expending on fuel, and also there is no need for a driving license for cycling. Hence, these factors are expected to propel the global bicycle market growth over the forecast period.

Market Taxonomy

This report segments the Global Bicycle Market on the basis of Product Type, Technology, End User, Price and Region. On the basis of Product Type, Global Bicycle Market is segmented into Sports, Road, Mountain, and Hybrid(Sports+ Mountain). On the basis of Technology, the Global Bicycle Market is segmented into Electric and Conventional. On the basis of End-User, the Global Bicycle Market is segmented into Men, Women and Kids. On the basis of Price, the Global Bicycle Market is segmented into Premium, Mid-Range and Low Range. On the basis of region, Global Bicycle Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

This report provides an in-depth analysis of the Global Bicycle Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global Bicycle Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the Global Bicycle Market includes Giant Bicycle Inc., Samchuly Bicycle Co., Ltd., Atlas Cycles Ltd., Tandem Group plc, Derby Cycle, Merida Industry Co. Ltd., Avon Cycles Ltd., Dorel Industries Inc., Trek Bicycle Corporation, Xiaomi, Accell Group, Zhonglu Co. Ltd., and Tube Investment of India Limited
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
The global Bicycle market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Bicycle Market

Detailed Product Taxonomy:

Global Bicycle Market, By Product Type: