Global Sports Bicycle Market 2016-2020
Outlook of the sports bicycle market
The growing interest towards cycling as a form of recreation and leisure has led to the high demand of sports bicycle, which resulted in the significant growth of the global sports bicycle market, posting a CAGR of over 6% during the forecast period. The rising popularity of bicycle rental programs is one of the major factors contributing to the growth of the sports bicycle market. Many cities in France like Marseille, Bordeaux, Lyon, Toulouse, La Rochelle, Montpellier, Strasbourg, and Avignon offer bike-sharing programs.
Geographically, North America dominated the market with a share of about 36% of the overall market in 2015, and the region is expected to continue its dominant position until 2020. The growth of this region is due to the rising interest in sports recreational activities such as mountain bicycling and road racing. In 2014, the Organization for Economic Co-operation and Development (OECD) recorded that more than 35% of North American adults were considered obese, hence more people are taking up sports activities like cycling as a form of exercise in this region.
Product segmentation and analysis of the sports bicycle market
- Mountain bicycle
- Cyclo-cross bicycle
- Road racing bicycle
- Track bicycle
In 2015, the mountain bicycles segment dominated the global sports bicycle market, which is due to an increase in the demand for these cycles for leisure and fun. For instance, in Seattle, Washington, and the US, mountain biking gained considerable popularity in the past decade, and local government bodies are opening up mountain trails owing to the demand.
Segmentation and analysis by distribution channel of the sports bicycle market
- Mono-brand stores
- Sports chain stores
- Online retail stores
- Others (hypermarkets, supermarkets, department stores, and warehouse clubs)
Monobrand stores dominated the global sports bicycle market in 2015. The easy availability of popular models and support and information provided by customer service personnel is the key driver for purchasing from these stores. Derby cycles and Amer Sports are some of the popular vendors in this segment.
Competitive landscape and key vendors
The existence of a large number of vendors in the sports bicycle market is expected to heighten the competition among the vendors during the forecast period. Therefore, vendors need to focus on innovative marketing strategies to counter this increasing competition and to penetrate the competitive market. Many vendors today are coming up with attractive offerings like home delivery of sports bicycles, along with customized accessories. Such services provide additional values that can attract consumers to a great extent.
The leading vendors in the market are -
- Kestrel Bicycles
- Jamis Bicycles
Other prominent vendors in the market include Atlas, Bianchi Bicycle, Giant Bicycle, G T Bicycles, Hero Cycles, Jenson USA, K2 Sports, Raleigh Bicycles, Redline Bicycles, Seven Cycles, and Trek Cycles.
Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global sports bicycle market?
- What are the key market trends impacting the growth of the global sports bicycle market?
- What are the challenges to market growth?
- Who are the key vendors in the global sports bicycle market?
- What are the market opportunities and threats faced by the vendors in the global sports bicycle market?
- Trending factors influencing the market shares of the APAC, Europe, North America and ROW.
- What are the key outcomes of the five forces analysis of the sports bicycle market?
Technavio also offers customization on reports based on specific client requirement.