Persistence Market Research offers an eight year forecast for the global bicycle market between 2016 and 2024. The foremost objective of the report is to present insights on technological advancements in the global bicycle market. The report provides updates on drivers, restraints, opportunities and various regional trends in the global bicycle market. The study provides market dynamics that are expected to influence current global bicycle sales and future prominence of the global bicycle market over the forecast period.
The reports starts with market overview and provide market definition and taxonomy of the global bicycle market. The overview section thus presents the market dynamics which include market drivers, restraints, opportunities and trends followed by value chain analysis and pricing analysis. Moreover, this section also covers the brief global market forecast indicating the Y-o-Y projections and incremental opportunity over the forecast period.
The next section of the report covers the detailed market share analysis, Y-o-Y growth and market attractiveness analysis on the basis of segments such as product type, technology, end user, price and regions. A section of the report also highlights the country wise bicycle demand. This section of the report provides market outlook for 2016-2024 and sets the forecast within the context of the report, including new technology advancement as well as high demand of bicycles in various regions for recreational and leisure activities.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view and a market structure. Detailed profiles of manufacturers along with appendix are also included within the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the bicycle market. Market participants in global bicycle market include Giant Bicycle Inc., Atlas Cycles Ltd., Derby Cycle, Avon Cycles Ltd., Trek Bicycle Corporation, Zhonglu Co. Ltd., Tube Investment of India Limited, Accell Group, Dorel Industries Inc., Merida Industry Co. Ltd., Tandem Group plc., and Samchuly Bicycle Co, Ltd.
Key Segments Covered
By Product Type
By End User
To ascertain global bicycle market size, we have also considered revenue generated by major manufacturers. The forecast presented here assesses the total revenue by value and volume across the global bicycle market. The forecast presented in the report evaluates the total revenue that is expected to be generated across the global bicycle market over forecast period (2016–2024). When developing the market forecast, the starting point involves sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the characteristics of the market, Persistence Market Research has triangulated the data on the basis of various analysis based on both supply side and demand side.
A detailed analysis has been provided for every segment in terms of market size analysis for the global bicycle market. It is vital to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR, but also analyze the same on the basis of key parameters such as, year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities for market players.
Another key features of this report is the analysis of all segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as identify potential resources from a sales and delivery perspective in the global bicycle market. In addition to this, we have also provided list of key market players in the global bicycle market report.
Electric bicycles will exhibit the highest growth potential and are the best bet for the global bicycle market in the future
The first task done by the Persistence Market Research analysts was to segment the global bicycle market. Accordingly, the market has been segmented into five segments namely by product, by technology, by end user, by price and by region. To calculate the market size, bicycle production trends and forecast across geographies and studies of bicycle sales volumes and historical trends were undertaken. Global bicycle market trends across geographies were also studied to arrive at trends such as the rapid industrialization and the introduction of new materials that are extremely light but very strong and have transformed the bicycle manufacturing industry. The new technology and advanced methodology used for the manufacturing of bicycles has found increasing application in the manufacturing of sports and mountain bicycles. As per Persistence Market Research analysts, the electric bikes segment is also showing a robust growth during the forecast period due to the various environment benefits that it offers. Also, the growth of conventional bicycles will be low as compared to the electric segment.
Bicycle is an important mode of sustainable transportation providing environment, performance, and price benefits over the gasoline based vehicles. Bicycles possess features such as being eco-friendly, inexpensive and a healthy mode of transportation. Global bicycle market was valued at US$ 45.08 Bn in 2015 and is expected to witness a CAGR of 3.7% over the forecast period to reach US$ 62.39 Bn in 2024.
Factors influencing the global bicycle market growth
In 2014, 114 nations including Europe, Middle East, and the Americas were having over half of the adult population obese. Meanwhile, a healthy and more nature-friendly lifestyle is gaining attraction and people are becoming more aware about the hazards caused by obesity across the globe. One of the major advantages of using bicycles is that there is no need of any external fuel or source of supply to drive the system. Moreover, the world is facing a problem in preserving the natural resources and hence in some course in future there will always a possibility of depletion of resources. In order to save oil and fuel, customers more often tend to cycle to the distances which are close enough for them. By cycling, people could avoid massive traffic congestion and reach their destination comparatively faster.
Global bicycle market segmentation and forecast
Global bicycle market can be segmented on the basis of product type, technology, end user, and price. On the basis of product type, global bicycle market can be segmented into sports, road, mountain, and hybrid. The hybrid bicycle segment is estimated to account for major share in the overall market due to high demand from the users for recreational, commuting, and trekking purposes. On the basis of technology, global bicycle market can be segmented into conventional and electric. There is a high demand for conventional bicycles in the developing countries due to less disposable income and more middle class and labor population. Furthermore, electric bicycles are expected to gain traction in the overall market and register a significant CAGR due to integration of E-bikes with mountain and sports bikes. On the basis of end user, global bicycle market can be segmented into men, women, and kids. With high participation of women in the bicycle market, women bicycle segment in the global bicycle market is expected to witness a CAGR of 4.3% over the forecast period. On the basis of price, global bicycle segment can be segmented on the basis of premium, mid-range, and low range. The premium bicycle segment is anticipated to exhibit a CAGR of 4.8% over the forecast period due to higher adoption of electric bicycles across the globe.
Global bicycle market forecast by region
APAC accounts for a major share in the total market value in 2015 due to high demand and consumption of bicycles in China and other countries in the region. Moreover, Europe is anticipated to register the highest CAGR over the forecast period and estimated to account for a significant market share in the overall bicycle market. Cycling infrastructure, government subsidiaries, etc. are some of the major factors driving the growth of bicycle market in the Europe region. China holds 99% share of the total bicycles imported to North America. Electric bicycles or E-bikes are the type of bicycles integrated with an electric motor which can be propelled by a pedal. E-bikes have gone through many technological changes such as implementing sophisticated tools for production and enhanced quality which may be the driving factor of global bicycle market.
On the basis of regions, the global bicycle market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. APAC dominate the market with over 63% of the overall bicycle market share in 2015 which is mainly attributed to the high use of bicycles in China with mature market for E-bikes. Furthermore in terms of value, Europe and North America also accounts for significant share in the global bicycle market and are anticipated to register a CAGR of 4.9% and 3.9% respectively between 2016 and 2024.
Key market players dominating the global bicycle market
Some of the market participants identified in the global bicycle market include Giant Bicycle Inc., Atlas Cycles Ltd., Derby Cycle, Avon Cycles Ltd., Trek Bicycle Corporation, Zhonglu Co. Ltd., Tube Investment of India Limited, Accell Group, Dorel Industries Inc., Merida Industry Co. Ltd., Tandem Group plc., and Samchuly Bicycle Co, Ltd.