Persistence Market Research (PMR) provides a seven year forecast on the global bicycle market from 2017 to 2024. The primary objective of this report is to offer in-depth analysis on the latest developments in the global market for bicycle. The report offers updates on challenges, market drivers, trends, and opportunities in the market. Regional trends are also provided in the report. Market dynamics that are anticipated to affect current and future sales in the global bicycle market during the forecast period are also covered in the report.
The reports begin with executive summary that offers overview of the market along with the definition and taxonomy of the global market for bicycle. The section also focuses on the market dynamics including driving factors, key trends, opportunities, and restraints which are followed by pricing analysis and value chain analysis. The section also provides year-on-year projections and absolute dollar opportunity throughout the forecast period.
Next section in the report offers analysis on the market share market attractiveness analysis based on the segments including technology, product type, price, end user, and regions. Country-wise analysis is also provided in the global bicycle market report. Technological advancements along with the demand and sales of bicycles in various regions is also given in the report.
The last section provides detailed profiles of all the leading market players in the global market for bicycle. Detailed profiles including financial overview, business overview, new developments and product portfolio is focused on in the report. Along with this, long-term and short-term strategies by key players to compete in the global bicycle market is also provided in the report.
The forecast offered in the report include details on total revenue expected to be generated in the global bicycle market over the forecast period 2017-2024. At the time of developing forecast on the market, the current market size was considered. This formed the basis for forecasting on how the market will perform in the coming years. Data has also been triangulated based on the analysis of both demand and supply in the global bicycle market.
The report has also provided vital information on all the key segments including market share, CAGR, and value in the global market for bicycle. It is very important to know that the global economy is never stable in such a scenario our analysts not only conduct a thorough research to arrive at forecast in terms of market size and CAGR but also on the basis of year-on-year growth to identify all the growth opportunities in the market for manufacturers and other key players.
Another important feature of this report is analysis of all the major segments based on the absolute dollar opportunity. This is the most critical part of the report to identify the level of opportunity present in the market, and all the potential resources that play a key role in conducting sales and delivery in the global bicycle market. Along with this, the report also offers information on the key market players and their contribution towards the growth of the global bicycle market.
Growing interest towards cycling as a part of fitness activity or leisure is leading to the high demand for a bicycle. People across the globe are becoming fitness conscious, this is resulting in the increasing use of the bicycle as means of transport. Manufacturers are also adding various features that are resulting in better cycling experience. Companies are introducing bicycles with wider tires to offer a smooth ride, boost the suspension capabilities and to provide better off-road riding experience. The demand for bicycle with quality gear-shifting system is also increasing. Manufacturers are also shifting from standard mountain bike to specialized bikes with new tire size and enhanced safety features.
Governments of different countries are also coming up with an idea of bicycle sharing service. Here, the person can use bicycle for a limited time period without owing it. Such programs are encouraging use of bicycle. Bicycles are also being launched with sensors attached to it. These sensors help in tracking the cycling time, distance, and calories burned. Sensors are also used in bicycle to track the location and protect it from theft. Bicycle tourism is also witnessing a growth worldwide.
Persistence Market Research (PMR) anticipates the global bicycle market to see a slow growth during the forecast period. The global market for bicycle is estimated to reach US$ 62,390 Million revenue by the end of 2024.
Hybrid Bicycles to be Highly Preferred in the Global Bicycle Market
A hybrid bicycle is the blend of mountain bike, road bike, and touring bike. Hybrid bicycles can be used in various riding conditions. Ease of use, stability, and comfort are making these bicycles popular among all the age groups. Increasing use of bicycle as the part of leisure activity is driving the demand for hybrid bikes. Owing to the increasing demand, manufacturers are also introducing new overall designs to offer better off-road ride. Good grip, balance, control and safety are some of the factors being considered by manufacturers while designing hybrid bikes. Companies are also introducing own set of features in hybrid cycles to differentiate from competitors. Features are also being added depending on the hybrid cycle for men, women and kids.
Mid-range Bicycle to Gain Maximum Traction in the Global Bicycle Market
Compared to the premium and low-range bicycle, mid-range bicycles are gaining lot popularity among the buyers. People, especially in the developing countries prefer mid-range cycle as the daily means to commute from one place to another. Moreover, maximum users of bicycle are present in these countries. Hence, companies are focusing on developing mid-range bicycles without compromising on components and materials. These bicycles are being made using lightweight and durable materials with easy gear-shift and brake system. Moreover, parts of mid-range bicycles are easily available at an affordable rate.
Government in different countries are also promoting cycling by officially setting bicycle facilities, and some countries are also offering subsidies for bicycles in an effort to cut carbon emission and also to improve health of citizens. For instance, many countries in Europe are offering subsidies for bicycles, thereby driving the demand for bicycles. Moreover, manufacturers are also offering free accessories, offers and discounts on bicycles to increase sales in various regions.