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Global Bicycle Market Size, Share & Industry Trends Analysis Report By Technology, By End User, By Distribution Channel, By Product, By Regional Outlook and Forecast, 2021-2027

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    Report

  • 209 Pages
  • March 2022
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5590099
The Global Bicycle Market size is expected to reach $93.5 billion by 2027, rising at a market growth of 8.0% CAGR during the forecast period.



Bicycles are an environmentally beneficial means of transportation that come in a variety of styles, including electric bikes, cargo bikes, and mountain bicycles. Bicycles are easy to ride and are regarded as one of the healthiest and safest ways of transportation. Additionally, significant bicycle clubs such as Easy Rider Bike Club, Go Out and Tour Somewhere, and Road Soldiers Cycling Club all have the same goal to boost customer interest in cycling. As a result, they arrange a variety of sports events, bike rallies, recreational activities, and competitions to encourage people to ride bicycles.

Cycling is mostly an aerobic activity, which strengthens the heart, blood vessels, and lungs of a cyclist. In addition, cycling also cures various cardiovascular diseases and disorders such as stroke, high blood pressure, and heart attack Cycling on a regular basis stimulates and strengthens lungs along with blood circulation, lowering the risk of heart diseases in the future.

The market is expected to develop due to an increasing number of people who choose biking as a form of recreation. Bicycles are expected to grow in popularity as a practical method of exercise for maintaining a healthy lifestyle free of obesity and other diseases. Dockless bicycle-sharing systems have previously grown more popular. This device allows users to navigate a nearby bicycle and electronically unlock it. Dockless bicycle-sharing systems are rapidly gaining popularity in numerous countries all over the world.

Health benefits, traffic congestion avoidance, environmental benefits, and a surge in the demand for e-bikes as a sports equipment are some of the key factors increasing the adoption of e-bikes around the world. Moreover, key manufacturers such as Giant Manufacturing Co. and Accell Group are focusing on improving the entire user interface by developing and designing bicycles that can be integrated with the rider's smartphone to provide real-time information on the speed and battery status, bolstering market growth during the forecast period.

COVID-19 Impact Analysis

The COVID-19 outbreak led the world economy to a steep downfall. Various businesses across the world were significantly affected due to the diffusion of the novel coronavirus. Moreover, governments of several countries were forced to impose county-level lockdowns, which majorly hampered the supply chain of various goods, including the components of bicycles. Additionally, during the pandemic, sudden supply chain interruptions in the automobile sector also posed a significant challenge for bicycle manufacturers as the cash flow across the industry was regulated. The growing popularity of remote working across the corporate sector also reduced the utilization of bicycles. Further, companies in the corporate sector are implementing work-from-home in order to stop the containment of the infection, due to which, the utilization of bicycles among employees has been significantly decreased.

Market driving Factors:


Increasing trend of Eco-friendly Bicycles

Companies are concentrating their efforts on introducing eco-friendly as well as highly efficient paddle cycles to provide users with an environmentally responsible mode of transportation. In addition, the expanding hiking and leisure trend while complying with environmental safety measures among the general public is likely to boost demand for such items. The environmental effect of manufacturing a bicycle is substantially lower than that of the most common modes of transportation, such as vehicles. More importantly, better air quality helps to protect green spaces, monuments, and buildings from various types of pollution and their negative impacts. excess dust from the air, in particular, can darken the surface.

Rapid advancements in bicycles

Various companies are now majorly focused on integrating automatic speed control and anti-theft technologies into the design of regular paddle cycles in order to provide users with an athletic and high-performing vehicle. Users of electric bikes can benefit from speed control as well as anti-theft features. Moreover, the constantly increasing number of advancements being introduced in several bikes with cyclocross brakes to superior hydraulic disc brakes has captured the interest of consumers in purchasing advanced paddle cycles. Moreover, one of the most significant enhancements in bicycles is the advent of anti-theft locks. This feature is significantly allowing people to invest more in better and enhanced bicycles.

Marketing Restraining Factor:


Broad availability of traveling alternatives and lack of tracks

Alternative modes of transportation, such as buses, trains, automobiles, and various other transport is decreasing the demand for bicycles among people as public transport vehicles allow people to travel more distance in lesser fare. In addition, the number of public transport vehicles is constantly increasing as a result of developments across various countries. Due to this, people are increasingly adopting public transport. Also, public transport is also considered safer than private vehicles, due to which, people are more inclined toward public transport. In addition, there is a lack of dedicated cycling tracks in various developing and under-developing countries. Due to this, rising bicycles on road becomes more dangerous as the tendency of road accidents increases.

Technology Outlook

Based on Technology, the market is segmented into Conventional and Electric. In 2020, the electric segment registered a significant revenue share of the bicycle market. The increasing growth of the segment is owing to the ease of operation of these bicycles. The learning curve of these bicycles is low, due to which, more people are purchasing electric bikes. In comparison to their conventional equivalents, electric bikes can also provide faster speed with lesser effort. Additionally, despite their smaller size, the latest batteries employed in electric bikes can offer larger capacity and longer run lives. The convenience of electric bicycles is enhanced by maintenance-free batteries. As a result, consumers are likely to prefer these bicycles. This factor is expected to drive the growth of this segment.

End User Outlook

Based on End User, the market is segmented into Men, Women, and Kids. In 2020, the men segment acquired the largest revenue share of the bicycle market. The increasing growth of the segment is attributed to the rising number of men that are employing bicycles to commute to their workforces. In addition, the rising number of men participating in various road trip activities is also a factor that is driving the growth of this segment.

Distribution Channel Outlook

Based on Distribution Channel, the market is segmented into Offline, and Online. In 2020, the online segment registered a substantial revenue share of the bicycle market. Consumer participation in online stores is estimated to increase as smartphone and internet usage increases in emerging markets all over the world. As the internet's penetration grows, vendors are increasingly turning to online platforms like Amazon, Ali Express, Flipkart, and Amazon to sell their goods in new regions. Additionally, internet channels offer great discounts on every product, attracting customers to purchase goods online. Further, the convenience offered by online distribution channels, along with the doorstep delivery, is expected to majorly drive the growth of this segment over the forecasting period.

Product Outlook

Based on Product, the market is segmented into Road, Mountain, Hybrid, Cargo, and Others. In 2020, the road segment witnessed the largest revenue share of the bicycle market. The growth of road bicycles is increasing due to the fact that road bikes are the most basic type of bicycles, which do not require any sophisticated additional components like other bicycles. Moreover, the emerging trend among people to modify road bicycles for several purposes is likely to add to the segment's growth over the forecasting period.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, Asia-Pacific witnessed the largest revenue share of the bicycle market. The increasing growth of the segment is owing to the fact that countries such as Japan, China, and Singapore place a high priority on developing the infrastructure required to encourage and enable bicycle commuting. Some Asian cities, such as Tokyo, are noted for having the lowest accident rates, making them ideal destinations for urban riding. Additionally, Chinese bicycle-sharing businesses are rapidly expanding their operations in nations such as Australia and India. As a result, bicycle demand is likely to increase in the coming years.

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.
  • 2021-Dec: Cervélo launched the R5-CX, threaded bottom bracket bike. The R5-CX offers plenty of tire clearance along with a double Seatpost clamp. However, the formation of the bike makes some adjustments to cyclocross. Although, it has a low stack height, yet the same reach as the R5 road bikes.
  • 2021-Apr: Cervélo introduced Áspero-5, a new tier of bikes to its Áspero gravel range. The product offers a newly designed internal cable routing system which is faster and lighter than the previous range.
  • 2019-May: Scott Sports entered into a collaboration with Bold Cycles, a Swiss brand known for its innovative carbon full-suspension frames. Together, the companies aimed to remain at the leading edge of creating and surprising the bike world with new products.
  • 2019-Feb: Giant joined hands with Element Retail, one of India's strongest, brand-focused retail experience providers. Together, the companies aimed to deliver high-quality craftsmanship, innovative design, and technology under one roof. Additionally, the companies is expected to establish the first-ever flagship store in Mumbai.
  • 2018-Aug: Accell Group completely acquired Velosophy, a Swedish bicycle & lifestyle brand. Through this acquisition, the company aimed to propel its strategy innovation, too focused on developing urban mobility solutions.

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 Geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

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.

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Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Bicycle Market, by Technology
1.4.2 Global Bicycle Market, by End User
1.4.3 Global Bicycle Market, by Distribution Channel
1.4.4 Global Bicycle Market, by Product
1.4.5 Global Bicycle Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Bicycle Market
Chapter 4. Global Bicycle Market by Technology
4.1 Global Conventional Market by Region
4.2 Global Electric Market by Region
Chapter 5. Global Bicycle Market by End-user
5.1 Global Men Market by Region
5.2 Global Women Market by Region
5.3 Global Kids Market by Region
Chapter 6. Global Bicycle Market by Distribution Channel
6.1 Global Offline Market by Region
6.2 Global Online Market by Region
Chapter 7. Global Bicycle Market by Product
7.1 Global Road Market by Region
7.2 Global Mountain Market by Region
7.3 Global Hybrid Market by Region
7.4 Global Cargo Market by Region
7.5 Global Others Market by Region
Chapter 8. Global Bicycle Market by Region
8.1 North America Bicycle Market
8.1.1 North America Bicycle Market by Technology
8.1.1.1 North America Conventional Market by Country
8.1.1.2 North America Electric Market by Country
8.1.2 North America Bicycle Market by End-user
8.1.2.1 North America Men Market by Country
8.1.2.2 North America Women Market by Country
8.1.2.3 North America Kids Market by Country
8.1.3 North America Bicycle Market by Distribution Channel
8.1.3.1 North America Offline Market by Country
8.1.3.2 North America Online Market by Country
8.1.4 North America Bicycle Market by Product
8.1.4.1 North America Road Market by Country
8.1.4.2 North America Mountain Market by Country
8.1.4.3 North America Hybrid Market by Country
8.1.4.4 North America Cargo Market by Country
8.1.4.5 North America Others Market by Country
8.1.5 North America Bicycle Market by Country
8.1.5.1 US Bicycle Market
8.1.5.1.1 US Bicycle Market by Technology
8.1.5.1.2 US Bicycle Market by End-user
8.1.5.1.3 US Bicycle Market by Distribution Channel
8.1.5.1.4 US Bicycle Market by Product
8.1.5.2 Canada Bicycle Market
8.1.5.2.1 Canada Bicycle Market by Technology
8.1.5.2.2 Canada Bicycle Market by End-user
8.1.5.2.3 Canada Bicycle Market by Distribution Channel
8.1.5.2.4 Canada Bicycle Market by Product
8.1.5.3 Mexico Bicycle Market
8.1.5.3.1 Mexico Bicycle Market by Technology
8.1.5.3.2 Mexico Bicycle Market by End-user
8.1.5.3.3 Mexico Bicycle Market by Distribution Channel
8.1.5.3.4 Mexico Bicycle Market by Product
8.1.5.4 Rest of North America Bicycle Market
8.1.5.4.1 Rest of North America Bicycle Market by Technology
8.1.5.4.2 Rest of North America Bicycle Market by End-user
8.1.5.4.3 Rest of North America Bicycle Market by Distribution Channel
8.1.5.4.4 Rest of North America Bicycle Market by Product
8.2 Europe Bicycle Market
8.2.1 Europe Bicycle Market by Technology
8.2.1.1 Europe Conventional Market by Country
8.2.1.2 Europe Electric Market by Country
8.2.2 Europe Bicycle Market by End-user
8.2.2.1 Europe Men Market by Country
8.2.2.2 Europe Women Market by Country
8.2.2.3 Europe Kids Market by Country
8.2.3 Europe Bicycle Market by Distribution Channel
8.2.3.1 Europe Offline Market by Country
8.2.3.2 Europe Online Market by Country
8.2.4 Europe Bicycle Market by Product
8.2.4.1 Europe Road Market by Country
8.2.4.2 Europe Mountain Market by Country
8.2.4.3 Europe Hybrid Market by Country
8.2.4.4 Europe Cargo Market by Country
8.2.4.5 Europe Others Market by Country
8.2.5 Europe Bicycle Market by Country
8.2.5.1 Germany Bicycle Market
8.2.5.1.1 Germany Bicycle Market by Technology
8.2.5.1.2 Germany Bicycle Market by End-user
8.2.5.1.3 Germany Bicycle Market by Distribution Channel
8.2.5.1.4 Germany Bicycle Market by Product
8.2.5.2 UK Bicycle Market
8.2.5.2.1 UK Bicycle Market by Technology
8.2.5.2.2 UK Bicycle Market by End-user
8.2.5.2.3 UK Bicycle Market by Distribution Channel
8.2.5.2.4 UK Bicycle Market by Product
8.2.5.3 France Bicycle Market
8.2.5.3.1 France Bicycle Market by Technology
8.2.5.3.2 France Bicycle Market by End-user
8.2.5.3.3 France Bicycle Market by Distribution Channel
8.2.5.3.4 France Bicycle Market by Product
8.2.5.4 Russia Bicycle Market
8.2.5.4.1 Russia Bicycle Market by Technology
8.2.5.4.2 Russia Bicycle Market by End-user
8.2.5.4.3 Russia Bicycle Market by Distribution Channel
8.2.5.4.4 Russia Bicycle Market by Product
8.2.5.5 Spain Bicycle Market
8.2.5.5.1 Spain Bicycle Market by Technology
8.2.5.5.2 Spain Bicycle Market by End-user
8.2.5.5.3 Spain Bicycle Market by Distribution Channel
8.2.5.5.4 Spain Bicycle Market by Product
8.2.5.6 Italy Bicycle Market
8.2.5.6.1 Italy Bicycle Market by Technology
8.2.5.6.2 Italy Bicycle Market by End-user
8.2.5.6.3 Italy Bicycle Market by Distribution Channel
8.2.5.6.4 Italy Bicycle Market by Product
8.2.5.7 Rest of Europe Bicycle Market
8.2.5.7.1 Rest of Europe Bicycle Market by Technology
8.2.5.7.2 Rest of Europe Bicycle Market by End-user
8.2.5.7.3 Rest of Europe Bicycle Market by Distribution Channel
8.2.5.7.4 Rest of Europe Bicycle Market by Product
8.3 Asia Pacific Bicycle Market
8.3.1 Asia Pacific Bicycle Market by Technology
8.3.1.1 Asia Pacific Conventional Market by Country
8.3.1.2 Asia Pacific Electric Market by Country
8.3.2 Asia Pacific Bicycle Market by End-user
8.3.2.1 Asia Pacific Men Market by Country
8.3.2.2 Asia Pacific Women Market by Country
8.3.2.3 Asia Pacific Kids Market by Country
8.3.3 Asia Pacific Bicycle Market by Distribution Channel
8.3.3.1 Asia Pacific Offline Market by Country
8.3.3.2 Asia Pacific Online Market by Country
8.3.4 Asia Pacific Bicycle Market by Product
8.3.4.1 Asia Pacific Road Market by Country
8.3.4.2 Asia Pacific Mountain Market by Country
8.3.4.3 Asia Pacific Hybrid Market by Country
8.3.4.4 Asia Pacific Cargo Market by Country
8.3.4.5 Asia Pacific Others Market by Country
8.3.5 Asia Pacific Bicycle Market by Country
8.3.5.1 China Bicycle Market
8.3.5.1.1 China Bicycle Market by Technology
8.3.5.1.2 China Bicycle Market by End-user
8.3.5.1.3 China Bicycle Market by Distribution Channel
8.3.5.1.4 China Bicycle Market by Product
8.3.5.2 Japan Bicycle Market
8.3.5.2.1 Japan Bicycle Market by Technology
8.3.5.2.2 Japan Bicycle Market by End-user
8.3.5.2.3 Japan Bicycle Market by Distribution Channel
8.3.5.2.4 Japan Bicycle Market by Product
8.3.5.3 India Bicycle Market
8.3.5.3.1 India Bicycle Market by Technology
8.3.5.3.2 India Bicycle Market by End-user
8.3.5.3.3 India Bicycle Market by Distribution Channel
8.3.5.3.4 India Bicycle Market by Product
8.3.5.4 South Korea Bicycle Market
8.3.5.4.1 South Korea Bicycle Market by Technology
8.3.5.4.2 South Korea Bicycle Market by End-user
8.3.5.4.3 South Korea Bicycle Market by Distribution Channel
8.3.5.4.4 South Korea Bicycle Market by Product
8.3.5.5 Singapore Bicycle Market
8.3.5.5.1 Singapore Bicycle Market by Technology
8.3.5.5.2 Singapore Bicycle Market by End-user
8.3.5.5.3 Singapore Bicycle Market by Distribution Channel
8.3.5.5.4 Singapore Bicycle Market by Product
8.3.5.6 Malaysia Bicycle Market
8.3.5.6.1 Malaysia Bicycle Market by Technology
8.3.5.6.2 Malaysia Bicycle Market by End-user
8.3.5.6.3 Malaysia Bicycle Market by Distribution Channel
8.3.5.6.4 Malaysia Bicycle Market by Product
8.3.5.7 Rest of Asia Pacific Bicycle Market
8.3.5.7.1 Rest of Asia Pacific Bicycle Market by Technology
8.3.5.7.2 Rest of Asia Pacific Bicycle Market by End-user
8.3.5.7.3 Rest of Asia Pacific Bicycle Market by Distribution Channel
8.3.5.7.4 Rest of Asia Pacific Bicycle Market by Product
8.4 LAMEA Bicycle Market
8.4.1 LAMEA Bicycle Market by Technology
8.4.1.1 LAMEA Conventional Market by Country
8.4.1.2 LAMEA Electric Market by Country
8.4.2 LAMEA Bicycle Market by End-user
8.4.2.1 LAMEA Men Market by Country
8.4.2.2 LAMEA Women Market by Country
8.4.2.3 LAMEA Kids Market by Country
8.4.3 LAMEA Bicycle Market by Distribution Channel
8.4.3.1 LAMEA Offline Market by Country
8.4.3.2 LAMEA Online Market by Country
8.4.4 LAMEA Bicycle Market by Product
8.4.4.1 LAMEA Road Market by Country
8.4.4.2 LAMEA Mountain Market by Country
8.4.4.3 LAMEA Hybrid Market by Country
8.4.4.4 LAMEA Cargo Market by Country
8.4.4.5 LAMEA Others Market by Country
8.4.5 LAMEA Bicycle Market by Country
8.4.5.1 Brazil Bicycle Market
8.4.5.1.1 Brazil Bicycle Market by Technology
8.4.5.1.2 Brazil Bicycle Market by End-user
8.4.5.1.3 Brazil Bicycle Market by Distribution Channel
8.4.5.1.4 Brazil Bicycle Market by Product
8.4.5.2 Argentina Bicycle Market
8.4.5.2.1 Argentina Bicycle Market by Technology
8.4.5.2.2 Argentina Bicycle Market by End-user
8.4.5.2.3 Argentina Bicycle Market by Distribution Channel
8.4.5.2.4 Argentina Bicycle Market by Product
8.4.5.3 UAE Bicycle Market
8.4.5.3.1 UAE Bicycle Market by Technology
8.4.5.3.2 UAE Bicycle Market by End-user
8.4.5.3.3 UAE Bicycle Market by Distribution Channel
8.4.5.3.4 UAE Bicycle Market by Product
8.4.5.4 Saudi Arabia Bicycle Market
8.4.5.4.1 Saudi Arabia Bicycle Market by Technology
8.4.5.4.2 Saudi Arabia Bicycle Market by End-user
8.4.5.4.3 Saudi Arabia Bicycle Market by Distribution Channel
8.4.5.4.4 Saudi Arabia Bicycle Market by Product
8.4.5.5 South Africa Bicycle Market
8.4.5.5.1 South Africa Bicycle Market by Technology
8.4.5.5.2 South Africa Bicycle Market by End-user
8.4.5.5.3 South Africa Bicycle Market by Distribution Channel
8.4.5.5.4 South Africa Bicycle Market by Product
8.4.5.6 Nigeria Bicycle Market
8.4.5.6.1 Nigeria Bicycle Market by Technology
8.4.5.6.2 Nigeria Bicycle Market by End-user
8.4.5.6.3 Nigeria Bicycle Market by Distribution Channel
8.4.5.6.4 Nigeria Bicycle Market by Product
8.4.5.7 Rest of LAMEA Bicycle Market
8.4.5.7.1 Rest of LAMEA Bicycle Market by Technology
8.4.5.7.2 Rest of LAMEA Bicycle Market by End-user
8.4.5.7.3 Rest of LAMEA Bicycle Market by Distribution Channel
8.4.5.7.4 Rest of LAMEA Bicycle Market by Product
Chapter 9. Company Profiles
9.1 Accell Group
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Acquisition and Mergers:
9.2 Giant Manufacturing Co. Ltd.
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Partnerships, Collaborations, and Agreements:
9.3 Cervélo (Pon Holdings BV)
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Product Launches and Product Expansions:
9.4 SCOTT Sports SA
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Partnerships, Collaborations, and Agreements:
9.5 Merida Industry Co., Ltd.
9.5.1 Company Overview
9.6 Specialized Bicycle Components, Inc.
9.6.1 Company Overview

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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Table Information