Bicycles Market 2021: Industry Size, Regions, Emerging Trends, Growth Insights, Development Scenario, Opportunities, and Forecast By 2027

 

Bicycles Market Analysis, Trends, Size, and Forecast. Bicycles Market Industry Overview, Market Growth, Market Share, Syndicate Report, and Business Research Reports – US and UK

 

Description

Bicycles Market: by Product (Mountain, Hybrid, Road, and Others), by Technology (Electric, Conventional and Others), by End-Use (Male, Female, and Kids), by Structure (Non-Foldable and Foldable), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

 

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The bicycles market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the global bicycle industry.

Bicycles Industry Outlook

The bicycles market was valued at USD 53.9 billion and reached USD 77.8 billion by 2027, with a CAGR of 6.4% during the forecast period. People are well-aware and health-conscious about their fitness. The main trend for the bicycle market is primarily influencing the demand for the bicycle as a major source of transportation. The increase in purchasing power of consumers across emerging nations such as India, Indonesia, Malaysia, and Mexico is expected to be the greatest driver for the market in the coming years.

Bicycles use limited parking spaces, and it is easy to use as anyone can ride it, and it also doesn't consume any fuel or high maintenance. It is an eco-friendly mode of transportation.

Factors Affecting the Global Bicycles Market Over the Forecast Period:

The ability of e-bicycles to manage their speeds adequately provides a comfortable drive on overpasses, mountain areas, even on tough roads, thus paving the way to high sales of the e-bicycle and further strengthen the global bicycle market. 

With increasing population, the traffic of vehicles is also increasing, and it also increases the pollution, which results in pollution and global warming. This is expected to drive the growth of the bicycle in the market.

Impact of COVID-19 on Bicycles Market:

While the COVID-19 outbreak has been sending shockwaves to the bicycle industry, this pandemic showed an extensive impact on new bicycle sales. The bicycle manufacturing facilities, shops, trading, and retailing activities that were stopped during the lockdown have widely affected its supply and demand from the consumers. Thus, this gap in the supply chain and no availability of spare parts and postponing of many premium events, cycling tournaments, and Olympics has reduced its sales and resulted in a wide loss to the companies in the global bicycle market.

Also, the report analyses and includes a specific detailed chapter about the short-term & long-term impact of the COVID-19 outbreak on each segment and region of the "Global Bicycles Market" and relatable government measures with the most current standards to support the industry. It also highlights the current market landscape during COVID-19 breakout, the virus's impact on leading companies, the expected demand schedule, the industry's supply chain, and other significant factors. These factors will help you identify those companies that may benefit from this pandemic, as well as those that will lose out.

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Scope of the Report

The report outlines the study of the structure based on product, technology, end user, and structure.

Based on product, the global bicycles market has been segmented into –

·     Mountain

·     Hybrid

·     Road

·     Others

Based on technology, the global bicycles market has been segmented into –

·     Electric

·     Conventional

·     Other

Based on end-user, the global bicycles market has been segmented into –

·     Male

·     Female

·     Kids

Based on structure, the global bicycles market has been segmented into –

·     Non- Foldable

·     Foldable

Bicycles Market: Regional Outlook

The bicycle market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2020, Asia Pacific held the largest share in the global bicycle market, followed by North America and Europe. The Asia Pacific is further estimated to dominate the bicycle market during the forecast period. Moreover, Europe is expected to project the highest CAGR in the global bicycle market throughout the forecast period.

Key Global Bicycles Market Competitors Includes –

The global Bicycles market is highly fragmented, with a large number of small players across the globe. The vital Bicycles manufacturers operating in the global market are –

·     Accell Group

·     Dorel Industries

·     Giant Bicycles

·     Merida

·     Olympus Corp.

·     Trek Bicycles

·     Pon Holdings

·     Hero Cycles

·     Fuji Bikes

·     Xidesheng Bicycles

·     OMYO

·     Trinx Bikes

·     Scott Sports

·     Atlas

·     Laux Bike

·     KHS

·     Cube

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