The Europe Bicycle Market is expected to witness market growth of 7.5% CAGR during the forecast period (2021 2027).
People are spending more time at home, both at work and in their spare time. People are willing to invest more in family extracurricular activities. This factor is allowing people to invest more for themselves. Due to this, people is expected to consider riding as a means in order to adjust to new recreational opportunities as they stay and work closer to home. People is expected to display an increased emphasis on health, wealth preservation, security, wellbeing, and fitness as cycling activities grow more interesting and compelling.
Consumers are becoming increasingly interested in transportation, personal health, utility, and well-being as a result of the efforts of various market players. Consumers are also willing to pay more to meet their mobility, health, wellness, and exercise demands. Previously, a lot of people's disposable income was spent on things like clothes, travel, dining out, as well as entertainment. People who are unable to flee are eager to spend money on things that provide personal delight and involvement. These factors are more likely to rapidly expedite the demand for bicycles among consumers.
The increasing development of the bicycle industry across this region is due to favorable government support for the construction of paddle cycle charging infrastructure in countries including Norway, the United Kingdom, and Germany, which has resulted in an increase in demand for electric bikes in the region. For example, the UK government proposed spending approximately USD 2,000 million in May 2020 to expand cycling and walking infrastructure in the UK. Additionally, rising leisure and outdoor activities trends among the region's population are propelling the market forward.
Moreover, according to the United Kingdom Bicycle Association, bicycle sales climbed by 63 percent year over year between April and June 2020. Bike sales under GBP 1,000 were the best, however, GBP 1,000+ e-bikes also performed well with a sales gain of 150 percent. Moreover, government agencies in European countries touring and leisure cycling, promote road racing, track racing, as well as off-road racing events, such as Cycling Ireland. According to the Irish Sports Council, Sport Ireland's investment in Cycling Ireland surged from EUR 292.5 thousand in 2015 to EUR 440 thousand in 2019, encouraging consumers to participate in a variety of cycling activities across Ireland.
The Germany market dominated the Europe Bicycle Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $5,552.8 Million by 2027. The UK market is experiencing a CAGR of 6.6% during (2021 - 2027). Additionally, The France market is expected to display a CAGR of 8.3% during (2021 - 2027).
Based on Technology, the market is segmented into Conventional and Electric. Based on End User, the market is segmented into Men, Women, and Kids. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product, the market is segmented into Road, Mountain, Hybrid, Cargo, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Giant Manufacturing Co. Ltd., Cervélo (Pon Holdings BV), SCOTT Sports SA, Merida Industry Co., Ltd., and Specialized Bicycle Components, Inc.
People are spending more time at home, both at work and in their spare time. People are willing to invest more in family extracurricular activities. This factor is allowing people to invest more for themselves. Due to this, people is expected to consider riding as a means in order to adjust to new recreational opportunities as they stay and work closer to home. People is expected to display an increased emphasis on health, wealth preservation, security, wellbeing, and fitness as cycling activities grow more interesting and compelling.
Consumers are becoming increasingly interested in transportation, personal health, utility, and well-being as a result of the efforts of various market players. Consumers are also willing to pay more to meet their mobility, health, wellness, and exercise demands. Previously, a lot of people's disposable income was spent on things like clothes, travel, dining out, as well as entertainment. People who are unable to flee are eager to spend money on things that provide personal delight and involvement. These factors are more likely to rapidly expedite the demand for bicycles among consumers.
The increasing development of the bicycle industry across this region is due to favorable government support for the construction of paddle cycle charging infrastructure in countries including Norway, the United Kingdom, and Germany, which has resulted in an increase in demand for electric bikes in the region. For example, the UK government proposed spending approximately USD 2,000 million in May 2020 to expand cycling and walking infrastructure in the UK. Additionally, rising leisure and outdoor activities trends among the region's population are propelling the market forward.
Moreover, according to the United Kingdom Bicycle Association, bicycle sales climbed by 63 percent year over year between April and June 2020. Bike sales under GBP 1,000 were the best, however, GBP 1,000+ e-bikes also performed well with a sales gain of 150 percent. Moreover, government agencies in European countries touring and leisure cycling, promote road racing, track racing, as well as off-road racing events, such as Cycling Ireland. According to the Irish Sports Council, Sport Ireland's investment in Cycling Ireland surged from EUR 292.5 thousand in 2015 to EUR 440 thousand in 2019, encouraging consumers to participate in a variety of cycling activities across Ireland.
The Germany market dominated the Europe Bicycle Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $5,552.8 Million by 2027. The UK market is experiencing a CAGR of 6.6% during (2021 - 2027). Additionally, The France market is expected to display a CAGR of 8.3% during (2021 - 2027).
Based on Technology, the market is segmented into Conventional and Electric. Based on End User, the market is segmented into Men, Women, and Kids. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product, the market is segmented into Road, Mountain, Hybrid, Cargo, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Giant Manufacturing Co. Ltd., Cervélo (Pon Holdings BV), SCOTT Sports SA, Merida Industry Co., Ltd., and Specialized Bicycle Components, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Technology
- Conventional
- Electric
By End User
- Men
- Women
- Kids
By Distribution Channel
- Offline
- Online
By Product
- Road
- Mountain
- Hybrid
- Cargo
- Others
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Accell Group
- Giant Manufacturing Co. Ltd.
- Cervélo (Pon Holdings BV)
- SCOTT Sports SA
- Merida Industry Co., Ltd.
- Specialized Bicycle Components, Inc.
Unique Offerings from the publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Europe Bicycle Market by Technology
Chapter 5. Europe Bicycle Market by End-user
Chapter 6. Europe Bicycle Market by Distribution Channel
Chapter 7. Europe Bicycle Market by Product
Chapter 8. Europe Bicycle Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Accell Group
- Giant Manufacturing Co. Ltd.
- Cervélo (Pon Holdings BV)
- SCOTT Sports SA
- Merida Industry Co., Ltd.
- Specialized Bicycle Components, Inc.
Methodology
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