Skip to main content

Bicycle Market Size, Analysis, Top Players, Target Audience and Forecast to 2032

 The bicycle market is expected to see a substantial CAGR of 4.76%, and is projected to increase from US$ 1116.5 billion in 2021 to US$ 1861.8 billion by 2032.

The customer demand for bicycle as a practical form of exercise to ensure a healthy life free from obesity and other illnesses is predicted to further boost the bicycle market share. Many governments are aggressively constructing the infrastructure needed to support bicycle commuting at the same time, which boosts demand for bicycle.

The creation of dockless bicycle sharing services that use mobile apps is the result of recent advancements in GPS technology and mobile app development. The widespread usage of such dockless bicycle-sharing programmes is also anticipated to significantly raise bicycle sales.

Due to the emergence of several online bicycle booking platforms through web portals and mobile applications, such Uber Bike, Yulu, and others, it is anticipated that the use of cars is rising. This presents numerous opportunities in the bicycle market.

The bicycle market growth is expected to be further fueled by expanding media coverage of such events and the growing influence of celebrity endorsement. Building the infrastructure necessary to encourage and support bicycle commuting is a top priority in China, Japan, and Singapore.

Key Takeaways from Market Study

  • The bicycle market is expected to have a CAGR of 4.76% during the forecast period.
  • The bicycle market is having a market valuation of US$ 1159.6 billion in 2022
  • The market is segmented based on product, wherein the road bicycle accounted for an adequate global bicycle market share of 40% in 2021.
  • The market is segmented based on end user, wherein the men segment accounted for a global bicycle market share of 40% in 2021.
  • The market is segmented based on technology, wherein the conventional segment accounted for a significant global bicycle market revenue share of 80% in 2021.
  • The Asia-Pacific bicycle market is anticipated to grow at the fastest rate, with a revenue share of 30% during the forecast period.
  • The Europe bicycle market is expected to grow significantly with a CAGR of 10.4% during the forecast period.

Competitive Landscape:

Key players in the bicycle market can develop and promote newer, better products at higher price points in order to maintain a competitive edge in the bicycle market. As there are so many important players in the bicycle market, the expansion of the market is highly fragmented and diverse in its structure.

Some of the major participants in the bicycle market are Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA, and Trek Bicycle Corporation.

  • In order to grow its business in this sector, Beerens Groep NV, a Belgian automotive supplier company, in July 2020, purchased the distributor of a felt brand from its French parent company Skis Rossignol S.A., Van Der Wal.
  • Pony is a 2017 app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

About FMI – Automotive and Transportation

The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.

For More Info@ https://www.futuremarketinsights.com/reports/bicycle-market

Comments

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and

Automotive Filters Market Share and Growth Factors Impact Analysis 2029

 The global automotive filters market is expected to experience significant growth over the forecast period, due to the increasing demand for advanced automotive systems and the rising demand for fuel-efficient and eco-friendly vehicles. Automotive filters are used to remove contaminants, such as dust, dirt, and debris, from the air, oil, and fuel in a vehicle. The market is segmented based on type, vehicle type, and region. Based on type, the market is divided into air filters, oil filters, fuel filters, and others. The air filter segment is expected to dominate the market, due to the increasing demand for advanced air filtration systems in vehicles. Based on vehicle type, the market is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, due to the increasing demand for passenger cars and the increasing adoption of advanced filtration systems in passenger cars. Geographi

Iris Biometrics Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Iris Biometrics Market stands as a testament to the ever-evolving landscape of biometric technology, offering a unique and highly secure method of identity verification and authentication. The iris, with its intricate and individualistic patterns, has captured the attention of both security experts and technology developers as a reliable means of confirming one's identity. This market has gained prominence across various industries, ranging from border control and law enforcement to access control systems in government institutions, corporate offices, and even consumer devices. The market's growth is fueled by the increasing need for robust identity verification solutions in a world where security breaches and identity theft are becoming more prevalent. Unlike traditional authentication methods such as passwords and PINs, iris biometrics offer a high level of security and accuracy, as the iris pattern is virtually impossible to replicate. The technology prov