An Overview of the Global Bicycle Market for Eight-year Projection Period
Persistence Market Research offers an 8-year forecast for the bicycle market between 2018 and 2026. The foremost objective of the report is to present insights on technological advancements in bicycle market. The report provides updates on drivers, restraints, opportunities and various regional trends in the bicycle market. The study provides market dynamics that are expected to influence current global bicycle sales and future prominence of the 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 2018-2026 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
A detailed analysis has been provided for every segment in terms of market size analysis for 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 feature 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 bicycle market. In addition to this, we have also provided list of few other participants in the bicycle market report.
Bicycle Sales to Surge Up Steadily Between 2018 and 2026
Intensifying traffic congestion issue and elevating fuel prices are foreseen to remain the key factors driving the need for cycling, and raising the demand for bicycles thereby. Growing health concerns among consumers, in addition to surging acceptance of green transportation in an effort to reduce carbon footprint, will play a pivotal role in the growth of global bicycle market in next eight years. Moreover, increasing government support encouraging adoption of bicycles and rapid development of dedicated cycling infrastructure in developed as well as developing economies will reportedly push the sales of bicycles in upcoming years. A growing application base of bicycles in trekking and recreational activities, coupled with a soaring number of cycling events will specifically uplift the demand for sports bicycles in near future.
Bicycle Market to Reach Nearly US$ 80 Bn by 2026 End
As sharing and rental services are currently gaining higher traction in the global bicycle market, stakeholders are increasingly striving to adapt to this trend. Moreover, a large number of corporate embracing cycling as a sustainable alternative to commute will be a significant factor impacting the sales of bicycles in next few years. At a moderate CAGR of 4.2%, the global market for bicycle will attain the revenue approaching US$ 80 Bn during 2018-2026. The market was valued at around US$ 55 Bn in 2017 and holds optimistic growth prospects over the assessment period.
Sports Bicycles Surpass Hybrid Bicycles in Terms of Growth Rate
Based on the technology, hybrid bicycles currently hold a major share of the market revenue, followed by road bicycles. However, hybrid bicycles are likely to lose a significant value share to sports bicycles, primarily attributed to their growing adoption rate in developed regional markets such as North America and Europe, and robust sales in China. These three regional markets are expected to account for more than 75% share of the total revenues through 2026. With escalating demand for sports, recreational, trekking, and adventure activities, sports bicycles will encounter with the most lucrative growth opportunities.
Key report findings:
The global bicycle will face longstanding challenges to its growth specifically in emerging regional markets, due to easy availability of financial aid for purchasing cars and two-wheelers. However, the market is predicted to gain an up thrust by favorable governmental initiatives for cycling promotion, rapidly progressing infrastructure dedicated to cycling, introduction of ultra-lightweight bicycles, and growing popularity of unisex bicycles.