Global Bicycle Market Size, Trends & Growth Opportunity, By Product Type (Mountain Bicycle, Hybrid Bicycle, Road Bicycle, and Others), By Technology (Electric, and Conventional), By End User, By Region and Forecast till 2027.
The Global Bicycle Market was valued at USD 58.64 billion in 2020 which expected to reach at USD 148.25 billion in 2027 at a CAGR 7.8% from 2020-2027.
Bicycles are the easiest & economical mode of transport. They also helpful to curb pollution levels from other transportation & environmental negative impacts. Cycling is sustainable mode of mobility which has no dependence on fossil fuels & has zero emissions unlike other motorized modes of transport. The rise in the number of people opting for bicycling as a form of leisure is expected to drive the global bicycle market growth.
The increase in health concerns as well s the rise in adoption of healthy lifestyle is a prominent factor boosting the growth of global bicycle market over the forecast period. Also, continuous fluctuating prices of fuels, increasing air pollution, the rise in government initiatives to promote safe & ecofriendly mode of transportation, and growing expenditure for infrastructure development on cycle networks are some driving factors expected to accelerate the growth of global bicycle market during this forecast time period.
Furthermore, advancements in mobile app development & GPS (Global Positioning System) have resulted in app-based dockless bicycle sharing systems. Moreover, the increase in adoption of such dockless bicycle-sharing systems is expected to support the growth of global bicycle market over the forecast period. Chinese bicycle-sharing companies are particularly investing & expanding their operations aggressively in European region to capitalize on the market opportunities. This is expected to propel market growth in the forthcoming years.
Lack of infrastructure necessary to support & encourage bicycle commutation, particularly in developing nations such as India, is expected to hamper the growth of the global bicycle market during this forecast timeline.
The Global Bicycle Market is segmented into product type such as Mountain Bicycle, Hybrid Bicycle, Road Bicycle, and Others, by technology market is segmented into Electric, and Conventional. Further, market is segmented into end-user such as Men, Women, and Kid.
Also, the Global Bicycle Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC region emerged as the dominant segment in the year 2020 with a revenue share exceeding 36%. This region is also anticipated to emerge as the fastest-growing segment in the forthcoming years. Nations such as Japan, China, and Singapore emphasize rolling out the infrastructure necessary to encourage & support bicycle commutation.
Some prominent players operating in the global bicycle market are such as Accell Group, Trek Bicycle Corporation, SCOTT Sports SA, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd, Giant Bicycles, Dorel Industries Inc., Cervelo, Avon Cycles Ltd., Atlas Cycles Ltd, etc.
Global Bicycle Market
The Global Bicycle Market was valued at USD 58.64 billion in 2020 which expected to reach at USD 148.25 billion in 2027 at a CAGR 7.8% from 2020-2027.
Bicycles are the easiest & economical mode of transport. They also helpful to curb pollution levels from other transportation & environmental negative impacts. Cycling is sustainable mode of mobility which has no dependence on fossil fuels & has zero emissions unlike other motorized modes of transport. The rise in the number of people opting for bicycling as a form of leisure is expected to drive the global bicycle market growth.
Market Drivers
The increase in health concerns as well s the rise in adoption of healthy lifestyle is a prominent factor boosting the growth of global bicycle market over the forecast period. Also, continuous fluctuating prices of fuels, increasing air pollution, the rise in government initiatives to promote safe & ecofriendly mode of transportation, and growing expenditure for infrastructure development on cycle networks are some driving factors expected to accelerate the growth of global bicycle market during this forecast time period.
Furthermore, advancements in mobile app development & GPS (Global Positioning System) have resulted in app-based dockless bicycle sharing systems. Moreover, the increase in adoption of such dockless bicycle-sharing systems is expected to support the growth of global bicycle market over the forecast period. Chinese bicycle-sharing companies are particularly investing & expanding their operations aggressively in European region to capitalize on the market opportunities. This is expected to propel market growth in the forthcoming years.
Market Restraints
Lack of infrastructure necessary to support & encourage bicycle commutation, particularly in developing nations such as India, is expected to hamper the growth of the global bicycle market during this forecast timeline.
Market Segmentation
The Global Bicycle Market is segmented into product type such as Mountain Bicycle, Hybrid Bicycle, Road Bicycle, and Others, by technology market is segmented into Electric, and Conventional. Further, market is segmented into end-user such as Men, Women, and Kid.
Regional Analysis
Also, the Global Bicycle Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC region emerged as the dominant segment in the year 2020 with a revenue share exceeding 36%. This region is also anticipated to emerge as the fastest-growing segment in the forthcoming years. Nations such as Japan, China, and Singapore emphasize rolling out the infrastructure necessary to encourage & support bicycle commutation.
Key Players
Some prominent players operating in the global bicycle market are such as Accell Group, Trek Bicycle Corporation, SCOTT Sports SA, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd, Giant Bicycles, Dorel Industries Inc., Cervelo, Avon Cycles Ltd., Atlas Cycles Ltd, etc.
Market Taxonomy
By Product Type
- Mountain Bicycle
- Hybrid Bicycle
- Road Bicycle
- Others
By Technology
- Electric
- Conventional
By End-User
- Men
- Women
- Kid
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Bicycle Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Table of Contents
1 Introduction
2 Research Methodology
4 Global Bicycle Market Outlook
5 Global Bicycle Market, By Product Type
6 Global Bicycle Market, By Technology
7 Global Bicycle Market, By End-User
8 Global Bicycle Market, By Region
9 North America Bicycle Market Analysis and Forecast (2021-2027)
10 Europe Bicycle Market Analysis and Forecast (2021-2027)
11 Asia Pacific Bicycle Market Analysis and Forecast (2021-2027)
12 Latin America Bicycle Market Analysis and Forecast (2021-2027)
13 Middle East Bicycle Market Analysis and Forecast (2021-2027)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
- Accell Group
- Trek Bicycle Corporation
- SCOTT Sports SA
- Specialized Bicycle Components Inc.
- Merida Industry Co. Ltd
- Giant Bicycles
- Dorel Industries Inc.
- Cervelo
- Avon Cycles Ltd.
- Atlas Cycles Ltd
