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Bicycle Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR40813
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The bicycle market share is expected to increase by USD 20.70 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.75%. This bicycle market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The bicycle market report also offers information on several market vendors, including Accell Group NV, Atlas Cycles (Haryana) Ltd., Derby Cycle Holding GmbH, Dorel Industries Inc., Giant Manufacturing Co. Ltd., GUANGDONG TANDEM INDUSTRIES Co. Ltd., Insera Sena. PT., Merida Industry Co. Ltd., Tandem Group Plc, and Trek Bicycle Corp. among others. Furthermore, this report extensively covers bicycle market segmentation by product (on-road and track bicycles, off-road bicycles, and x-road and hybrid bicycles), end-user (adults and children), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and MEA).

What will the Bicycle Market Size be During the Forecast Period?

Bicycle Market Size

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Bicycle Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing number of bicycle sports events is notably driving the bicycle market growth, although factors such as increase in number of product recalls may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bicycle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bicycle Market Driver

One of the key factors driving the bicycle market growth is the increasing number of bicycle sports events. Bicycle sports events include amateur and professional races that are often hosted in Europe, the United States, and Asia. Cycling-related sporting events are overseen by each countries cycling federation and the Union Cycliste Internationally, a swiss-based regulating body that governs international competitive cycling events. Amateur races are held in national, regional, and local events for both women and men in age groups ranging from 12 to 13 years.In the men's World Championships, however, amateurs and pros are not distinguished. There are two age groups in the competition: under 23 years and over 23 years. One of the most well-known cycling sports events is the Tour de France, which is one of the three European Grand Tours and one of the most well-known multi-stage races in the world.

Key Bicycle Market Trend

Increasing popularity of bicycle rental services is the major trend influencing the bicycle market growth. Rapid urbanization and rising disposable incomes in emerging economies are driving up automotive purchases. Traffic congestion is being exacerbated by the high density of automobiles on the road. This is incentivizing people all across the world to ride bicycles. Furthermore, governments in nations such as Japan encourage citizens to commute by bicycle. Bicycle rental services allow consumers to hire bicycles on an as-needed basis without the hassles and expenditures that come with owning one. Depending on the business model of the shop or company providing the service, users can rent bicycles on an hourly, monthly, or yearly basis for a subscription fee. some businesses also provide bicycle rental services through mobile apps examples of firms that provide bicycle rental services: In the United Kingdom, Brompton Bike Hire Ltd. provides bicycle rental services.

Key Bicycle Market Challenge

Increase in number of product recalls is one of the key challenges hindering the bicycle market growth. When a manufacturer demands that customers return a product owing to design flaws, safety concerns, or labeling problems, this is known as a product recall. If a flaw affects a substantial number of customers or poses a safety risk, manufacturers recall their items. Customer protection regulatory organizations in each country oversee these recalls. Bicycles, for example, are regulated by the Consumer Product Safety Commission in the United States. To avoid penalties, such regulatory agencies have precise rules that firms must meet. In the worldwide bicycle market, there have been a number of product recalls. Academy Sports outdoors recalled four of its house-brand bike models in January 2021 due to faulty front wheel locking hardware.

This bicycle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bicycle market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bicycle market during the forecast period.

Who are the Major Bicycle Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accell Group NV
  • Atlas Cycles (Haryana) Ltd.
  • Derby Cycle Holding GmbH
  • Dorel Industries Inc.
  • Giant Manufacturing Co. Ltd.
  • GUANGDONG TANDEM INDUSTRIES Co. Ltd.
  • Insera Sena. PT.
  • Merida Industry Co. Ltd.
  • Tandem Group Plc
  • Trek Bicycle Corp.

 

This statistical study of the bicycle market encompasses successful business strategies deployed by the key vendors. The bicycle market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Accell Group NV - The company offers bicycles under the brands, Batavus, Hercules, Koga-Miyata, Lapierre, Mercier, Loekie, Sparta and Winora.
  • Accell Group NV - In September 2020, the company launched Sparta d-Burst, which is available as an e-bike and a speed pedelec with a total capacity of no less than 1,125 Wh.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The bicycle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bicycle Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bicycle market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Bicycle Market?

Bicycle Market Market segmentation by region

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56% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for bicycle in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Increase in health consciousness, growing environmental concerns to reduce CO2 emissions, and increase in the use of personal transportation are primary reasons to facilitate the bicycle market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Owing to the COVID-19 pandemic, cycling and racing events were canceled to prevent community transmission of the virus through social gatherings in 2020. Some of the countries are planning to resume cycling events by following COVID-19 safety norms, as well as keeping players in bio bubbles to ensure safety and smooth conduct. On January 24, 2021, the CNG Cyclo Vaganza 2021 cycling tournament was held in Kolkata, India. Such developments are expected to provide high growth opportunities for vendors in the region during the forecast period.

What are the Revenue-generating Product Segments in the Bicycle Market?

Bicycle Market Segmentation

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The bicycle market share growth by the on-road and track bicycles will be significant during the forecast period. On-road bicycles are intended for paved roads. These bicycles consist of thin tires and lightweight frames that are designed to maximize efficiency and speed. The geometry and dropped handlebars of these bicycles make riders lean forward during riding. This enables them to ride in an aerodynamically correct position. The lightweight frames, gears, and thin tires of these bicycles enable riders to efficiently cover long distances at high speed. Henceforth, these types of bicycles are best suited for experienced cyclists.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the bicycle market size and actionable market insights on post COVID-19 impact on each segment.

 

Bicycle Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.75%

Market growth 2021-2025

$ 20.70 billion

Market structure

Fragmented

YoY growth (%)

6.35

Regional analysis

Asia

Performing market contribution

APAC at 56%

Key consumer countries

China, US, Germany, India, Japan, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accell Group NV, Atlas Cycles (Haryana) Ltd., Derby Cycle Holding GmbH, Dorel Industries Inc., Giant Manufacturing Co. Ltd., GUANGDONG TANDEM INDUSTRIES Co. Ltd., Insera Sena. PT., Merida Industry Co. Ltd., Tandem Group Plc, and Trek Bicycle Corp.

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

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What are the Key Data Covered in this Bicycle Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive bicycle market growth during the next five years
  • Precise estimation of the bicycle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the bicycle industry across Asia
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of bicycle market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value chain analysis: Leisure products market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 15: Product - Market share 2020-2025 (%)
  • 5.2 Comparison by Product
    • Exhibit 16: Comparison by Product
  • 5.3 On-road and track bicycles - Market size and forecast 2020-2025
    • Exhibit 17: On-road and track bicycles - Market size and forecast 2020-2025 ($ million)
    • Exhibit 18: On-road and track bicycles - Year-over-year growth 2020-2025 (%)
  • 5.4 Off-road bicycles - Market size and forecast 2020-2025
    • Exhibit 19: Off-road bicycles - Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: Off-road bicycles - Year-over-year growth 2020-2025 (%)
  • 5.5 X-road and hybrid bicycles - Market size and forecast 2020-2025
    • Exhibit 21: X-road and hybrid bicycles - Market size and forecast 2020-2025 ($ million)
    • Exhibit 22: X-road and hybrid bicycles - Year-over-year growth 2020-2025 (%)
  • 5.6 Market opportunity by Product
    • Exhibit 23: Market opportunity by Product

6 Market Segmentation by End-user

  • 6.1 Market segments
    • Exhibit 24: End user - Market share 2020-2025 (%)
  • 6.2 Comparison by End user
    • Exhibit 25: Comparison by End user
  • 6.3 Adults - Market size and forecast 2020-2025
    • Exhibit 26: Adults - Market size and forecast 2020-2025 ($ million)
    • Exhibit 27: Adults - Year-over-year growth 2020-2025 (%)
  • 6.4 Children - Market size and forecast 2020-2025
    • Exhibit 28: Children - Market size and forecast 2020-2025 ($ million)
    • Exhibit 29: Children - Year-over-year growth 2020-2025 (%)
  • 6.5 Market opportunity by End user
    • Exhibit 30: Market opportunity by End user

7 Market Segmentation by Distribution channel

  • 7.1 Market segments
    • Exhibit 31: Distribution channel - Market share 2020-2025 (%)
  • 7.2 Comparison by Distribution channel
    • Exhibit 32: Comparison by Distribution channel
  • 7.3 Offline - Market size and forecast 2020-2025
    • Exhibit 33: Offline - Market size and forecast 2020-2025 ($ million)
    • Exhibit 34: Offline - Year-over-year growth 2020-2025 (%)
  • 7.4 Online - Market size and forecast 2020-2025
    • Exhibit 35: Online - Market size and forecast 2020-2025 ($ million)
    • Exhibit 36: Online - Year-over-year growth 2020-2025 (%)
  • 7.5 Market opportunity by Distribution channel
    • Exhibit 37: Market opportunity by Distribution channel

8 Market Segmentation by Propulsion

  • 8.1 Market segments
  • 8.2 Comparison by Propulsion
  • 8.3 Manual bicycles - Market size and forecast 2020-2025
    • Exhibit 40: Manual bicycles - Market size and forecast 2020-2025 ($ million)
    • Exhibit 41: Manual bicycles - Year-over-year growth 2020-2025 (%)
  • 8.4 Motor-assisted bicycles - Market size and forecast 2020-2025
    • Exhibit 42: Motor-assisted bicycles - Market size and forecast 2020-2025 ($ million)
    • Exhibit 43: Motor-assisted bicycles - Year-over-year growth 2020-2025 (%)
  • 8.5 Market opportunity by Propulsion
    • Exhibit 44: Market opportunity by Propulsion

9 Customer landscape

  • 9.1 Customer landscape
    • Exhibit 45: Customer landscape

10 Geographic Landscape

  • 10.1 Geographic segmentation
    • Exhibit 46: Market share by geography 2020-2025 (%)
  • 10.2 Geographic comparison
  • 10.3 APAC - Market size and forecast 2020-2025
    • Exhibit 48: APAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 49: APAC - Year-over-year growth 2020-2025 (%)
  • 10.4 Europe - Market size and forecast 2020-2025
    • Exhibit 50: Europe - Market size and forecast 2020-2025 ($ million)
    • Exhibit 51: Europe - Year-over-year growth 2020-2025 (%)
  • 10.5 North America - Market size and forecast 2020-2025
    • Exhibit 52: North America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 53: North America - Year-over-year growth 2020-2025 (%)
  • 10.6 South America - Market size and forecast 2020-2025
    • Exhibit 54: South America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 55: South America - Year-over-year growth 2020-2025 (%)
  • 10.7 MEA - Market size and forecast 2020-2025
    • Exhibit 56: MEA - Market size and forecast 2020-2025 ($ million)
    • Exhibit 57: MEA - Year-over-year growth 2020-2025 (%)
  • 10.8 Key leading countries
    • Exhibit 58: Key leading countries
  • 10.9 Market opportunity by geography
    • Exhibit 59: Market opportunity by geography ($ million)

11 Drivers, Challenges, and Trends

  • 11.1 Market drivers
  • 11.2 Market challenges
    • Exhibit 60: Impact of drivers and challenges
  • 11.3 Market trends

12 Vendor Landscape

  • 12.1 Competitive scenario
  • 12.2 Vendor landscape
    • Exhibit 61: Vendor landscape
  • 12.3 Landscape disruption
    • Exhibit 62: Landscape disruption
  • 12.4 Industry risks
    • Exhibit 63: Industry risks

13 Vendor Analysis

  • 13.1 Vendors covered
    • Exhibit 64: Vendors covered
  • 13.2 Market positioning of vendors
    • Exhibit 65: Market positioning of vendors
  • 13.3 Accell Group NV
    • Exhibit 66: Accell Group NV - Overview
    • Exhibit 67: Accell Group NV - Business segments
    • Exhibit 68: Accell Group NV - Key news
    • Exhibit 69: Accell Group NV - Key offerings
    • Exhibit 70: Accell Group NV - Segment focus
  • 13.4 Atlas Cycles (Haryana) Ltd.
    • Exhibit 71: Atlas Cycles (Haryana) Ltd. - Overview
    • Exhibit 72: Atlas Cycles (Haryana) Ltd. - Business segments
    • Exhibit 73: Atlas Cycles (Haryana) Ltd. - Key offerings
  • 13.5 Derby Cycle Holding GmbH
    • Exhibit 74: Derby Cycle Holding GmbH - Overview
    • Exhibit 75: Derby Cycle Holding GmbH - Product and service
    • Exhibit 76: Derby Cycle Holding GmbH - Key offerings
  • 13.6 Dorel Industries Inc.
    • Exhibit 77: Dorel Industries Inc. - Overview
    • Exhibit 78: Dorel Industries Inc. - Business segments
    • Exhibit 79: Dorel Industries Inc. - Key offerings
    • Exhibit 80: Dorel Industries Inc. - Segment focus
  • 13.7 Giant Manufacturing Co. Ltd.
    • Exhibit 81: Giant Manufacturing Co. Ltd. - Overview
    • Exhibit 82: Giant Manufacturing Co. Ltd. - Product and service
    • Exhibit 83: Giant Manufacturing Co. Ltd. - Key offerings
  • 13.8 GUANGDONG TANDEM INDUSTRIES Co. Ltd.
    • Exhibit 84: GUANGDONG TANDEM INDUSTRIES Co. Ltd. - Overview
    • Exhibit 85: GUANGDONG TANDEM INDUSTRIES Co. Ltd. - Product and service
    • Exhibit 86: GUANGDONG TANDEM INDUSTRIES Co. Ltd. - Key offerings
  • 13.9 Insera Sena. PT.
    • Exhibit 87: Insera Sena. PT. - Overview
    • Exhibit 88: Insera Sena. PT. - Product and service
    • Exhibit 89: Insera Sena. PT. - Key offerings
  • 13.10 Merida Industry Co. Ltd.
    • Exhibit 90: Merida Industry Co. Ltd. - Overview
    • Exhibit 91: Merida Industry Co. Ltd. - Business segments
    • Exhibit 92: Merida Industry Co. Ltd. - Key offerings
    • Exhibit 93: Merida Industry Co. Ltd. - Segment focus
  • 13.11 Tandem Group Plc
    • Exhibit 94: Tandem Group Plc - Overview
    • Exhibit 95: Tandem Group Plc - Product and service
    • Exhibit 96: Tandem Group Plc - Key offerings
  • 13.12 Trek Bicycle Corp.
    • Exhibit 97: Trek Bicycle Corp. - Overview
    • Exhibit 98: Trek Bicycle Corp. - Product and service
    • Exhibit 99: Trek Bicycle Corp. - Key offerings

14 Appendix

  • 14.1 Scope of the report
  • 14.2 Currency conversion rates for US$
    • Exhibit 100: Currency conversion rates for US$
  • 14.3 Research methodology
    • Exhibit 101: Research Methodology
    • Exhibit 102: Validation techniques employed for market sizing
    • Exhibit 103: Information sources
  • 14.4 List of abbreviations
    • Exhibit 104: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Bicycle Market market growth will increase by $20.70 bn during 2021-2025.
The bicycle market market is expected to grow at a CAGR of 6.75% during 2021-2025.
Technavio has segmented the bicycle market market by product (on-road and track bicycles, off-road bicycles, and x-road and hybrid bicycles) ,end-user (adults and children) , and distribution channel (offline and online).
Accell Group NV, Atlas Cycles (Haryana) Ltd., Derby Cycle Holding GmbH, Dorel Industries Inc., Giant Manufacturing Co. Ltd., GUANGDONG TANDEM INDUSTRIES Co. Ltd., Insera Sena. PT., Merida Industry Co. Ltd., Tandem Group Plc, Trek Bicycle Corp. are a few of the key vendors in the bicycle market market.
APAC will register the highest growth rate of 56% among the other regions. Therefore, the bicycle market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Germany
  • India
  • Japan
  • UK
The key factors driving the bicycle market market growth are:
  • increasing number of bicycle sports events
  • Increasing popularity of bicycle rental services
The bicycle market market vendors should focus on grabbing business opportunities from the on-road and track bicycles segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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