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The bicycle market size is forecast to increase by USD 22.69 billion between 2022 and 2027, accelerating at a CAGR of 6.32%. In 2017, China held the largest market share, projecting an annual revenue of USD 80.48 billion. The research report of the Bicycle Market offers industry forecasts and segmentation based on Product including on-road and track bicycles, off-road bicycles, and x-road and hybrid bicycles. It also segments the market by Distribution Channel, which comprises both offline and online sales. Geographically, the report covers APAC, Europe, North America, South America, and Middle East and Africa. The market size, historical data (2017-2021), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments
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The health, environmental, and economic benefits of cycling are some of the major determinants propelling the market expansion of the Bicycle Market.
Frequent exercise helps shield the body from conditions like diabetes, arthritis, cancer, heart disease, obesity, and mental illness. Regular bicycle riding lowers the risk of health problems linked to a sedentary lifestyle and helps maintain the body fit and healthy. All ages can benefit from riding a bicycle.
Compared to vehicles or motorcycles, which have high gasoline, insurance, and maintenance costs, bicycles are less expensive. Riding a bicycle also lessens noise and air pollution. Bicycles do not produce greenhouse gas emissions and are an environmentally friendly substitute for motor vehicles and motorcycles. The aforementioned factors suggest that the bicycles'market is likely to witness growth in demand over the course of the projection period.
The On-road and Track Bicycles Segment will be leading the Bicycle Market
The On-road and Track Bicycles segment was the largest segment and was valued at USD 22.77 billion in 2017. Bicycles meant for on-road use are meant for smooth surfaces. These bikes are made to be as efficient and fast as possible, with light frames and thin tyres. These bicycles' geometry and lowered handlebars cause users to lean forward while they pedal. They are able to ride in an aerodynamically optimal position as a result. These bicycles' thin tyres, lightweight frames, and gear systems allow riders to go large distances at a fast pace with efficiency.
Bicycle Market - Revenue Share by On-road and Track Bicycles Segment, 2017-2027
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APAC Holds a Prominent Position in the Bicycle Market
APAC is estimated to contribute 51% to the growth of the global market during the forecast period. The bicycle market in APAC is anticipated to grow at the fastest clip. Over the course of the forecast period, several factors are anticipated to propel the growth of the bicycle market in Asia-Pacific, including the rising demand for bicycles, an increase in health consciousness, growing environmental concerns to reduce CO2 emissions, rising urbanization and traffic congestion, and an increase in the use of personal transportation.
Bicycle use is becoming more popular as a substitute for other forms of transportation in nations like China, Japan, India, and New Zealand due to rising health consciousness. National road and track events, including cycling marathons, are coordinated by cycling clubs across Asia-Pacific in collaboration with international and national clubs. For example, the Vantage Elite and U19 Track National Championships as well as the Vantage Age Group Track National Championships are among the cycling road and track events that will take place in New Zealand in 2023. Both professional and amateur riders have grown to love these races. Approximately 45% of Indian bicycle buyers include riding in their fitness and health regimens.
Bicycle Market Size, By Region, Global 2017-2027
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The Bicycle Market is fragmented in nature. Some significant players include Accell Group NV, BH BIKES Europe SL, Cicli Pinarello Srl, DAHON North America Inc., Kalkhoff Werke GmbH, Tube Investments of India Ltd.,
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Klever Mobility Europe GmbH, Kona Bicycle Co., LOOK Cycle International, Marin Mountain Bikes Inc., Merida Industry Co. Ltd., Samchully Co. Ltd., Santa Cruz Bicycles LLC, SCOTT Sports SA, Specialized Bicycle Components Inc., Storck Bicycle GmbH, Trek Bicycle Corp., Yamaha Motor Co. Ltd., Brompton Bicycle Ltd., SB Bike, Fiido, VAAN, and Vassla AB
The bicycle market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2021.
Bicycle Market Scope |
|
Report Coverage |
Details |
Page number |
189 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market growth 2023-2027 |
USD 22.69 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.5 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, Germany, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accell Group NV, BH BIKES Europe SL, Cicli Pinarello Srl, DAHON North America Inc., Kalkhoff Werke GmbH, Tube Investments of India Ltd., Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Klever Mobility Europe GmbH, Kona Bicycle Co., LOOK Cycle International, Marin Mountain Bikes Inc., Merida Industry Co. Ltd., Samchully Co. Ltd., Santa Cruz Bicycles LLC, SCOTT Sports SA, Specialized Bicycle Components Inc., Storck Bicycle GmbH, Trek Bicycle Corp., Yamaha Motor Co. Ltd., Brompton Bicycle Ltd., SB Bike, Fiido, VAAN, and Vassla AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Distribution Channel
9 Market Segmentation by Propulsion
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Trends
13 Vendor Landscape
14 Vendor Analysis
15 Appendix
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