Bicycle Market Projected to Achieve Exponential Growth $28,667.3 Million by 2027

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐛𝐢𝐜𝐲𝐜𝐥𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐𝟎,𝟐𝟖𝟎.𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗. 𝐅𝐮𝐫𝐭𝐡𝐞𝐫𝐦𝐨𝐫𝐞, 𝐭𝐡𝐞 𝐛𝐢𝐜𝐲𝐜𝐥𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐠𝐫𝐨𝐰𝐭𝐡 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟐𝟖,𝟔𝟔𝟕.𝟑 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟕, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟖% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟏 𝐭𝐨 𝟐𝟎𝟐𝟕.

According to a new report, "Bicycle Market by Type, Sales Channel, and End User: Global Opportunity Analysis and Industry Forecast 2021-2027". The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter's Five Forces, and competitive scenario.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/8140

The demand for bicycles increased during the Covid-19 pandemic due to rise in health consciousness among consumers and preference for bicycles as economical means to exercise and travel short distances.

Low maintenance cost of bicycles and ample health benefits drive the growth of the global bicycle market. However, low demand for electric bikes from developing nations and limited use of bicycle during unfavorable climate hinder the market growth. On the other hand, surge in adoption of outdoor sports and technological advancements present new opportunities in the coming years.

Bicycle sports is an ongoing trend in the market. Countries such as the U.S., Paris, and China are some of the leaders in bicycle sports. With surge in demand for bicycles, manufacturers are developing and elevating sports bikes that are light in weight, wheels with strong grip, strong breaks, and aerodynamic design, thus enhancing the cycling experience. In addition, sports bicycles are used in mountain riding and off-road riding as well. This not only promotes bike sports but also provides users with a thrill and adventurous experience. These bicycle trends leads to the rise in bicycle market demand.

The non-cargo electric bike segment was the highest contributor to the market, with $12,712.4 million in 2019, and is estimated to reach $17,580.4 million by 2027, at a CAGR of 4.1% during the forecast period.

According to the bicycle market analysis, on the basis of type, the non-cargo electric bicycle market segment was the highest contributor to the market, with $12,712.4 million in 2019, and is estimated to reach $17,580.4 million by 2027, at a CAGR of 4.1% during the bicycle market forecast period. This is attributed to technological advancements in bicycles such as integration of durable batteries and designing bicycles with light fiber body materials.

Depending on end user, the men segment exhibited the highest growth in 2019, generating revenue of $8,990.5 million, and is estimated to reach $12,301.8 million by 2027, registering a CAGR of 4.0%. This is attributed to increase in interest of sports and leisure activities among men. Furthermore, in bicycle events, men athletes have witnessed higher fan following in comparison to women and kids.

𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐢𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞: https://www.alliedmarketresearch.com/checkout-final/d76ec4cf57e2f48a60987191fadac04b

By sales channel, the physical stores segment dominated the market in 2019, accounting for $17,628.1 million, and is estimated to reach $20,164.4 million by 2027, at a CAGR of 1.7%. This is attributed to the fact that customers can easily procure required products from physical stores. In addition, customers are given personal attention by the sales staff at these stores. Furthermore, the queries and issues are resolved immediately in physical stores.

Key players in the bicycle industry have relied on strategies such as product launch and business expansion to expand their presence in the global market and to stay relevant. The key players in the bicycle market profiled in the report are Accell Group, Cervélo, Dorel Industries Inc., Giant Bicycles, Merida Industries Co., Ltd., Olympus Bikes, Scott Sports SA, Specialized Bicycle Components, Inc., Trek Bicycle Corporation, and Kona Bicycle Company.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

○ Growing Awareness of Health and Environment:
Increasing awareness of the health benefits associated with cycling is driving demand. Cycling is seen as a sustainable and eco-friendly mode of transportation, contributing to a healthier lifestyle and reduced carbon footprint.

○ Urbanization and Traffic Congestion:
In urban areas, where traffic congestion is a significant issue, bicycles offer a cost-effective and efficient mode of transportation. Governments and city planners are promoting cycling infrastructure to alleviate congestion and reduce pollution.

○ E-Bikes and Technological Advancements:
The emergence of electric bikes (e-bikes) has opened up new markets. E-bikes appeal to a broader demographic, including those who may be less inclined to engage in traditional cycling. Technological advancements in materials, design, and connectivity also contribute to market growth.

○ Health and Fitness Trends:
The global focus on health and fitness has increased the demand for bicycles as a means of exercise. Fitness enthusiasts are turning to cycling for cardiovascular workouts and low-impact exercises.

𝐃𝐞𝐦𝐚𝐧𝐝𝐬:

○ Quality and Innovation:
Consumers are increasingly demanding high-quality, durable bicycles with innovative features. Companies investing in research and development to create technologically advanced and aesthetically pleasing bicycles gain a competitive edge.

○ Eco-Friendly Solutions:
There is a growing demand for eco-friendly transportation options. Bicycles, being emission-free and requiring minimal resources for production, align with the environmentally conscious preferences of consumers.

○ Affordability and Accessibility:
Affordability remains a key factor influencing consumer choices. Manufacturers catering to a wide range of price points and providing financing options can tap into a broader market. Accessibility, through bike-sharing programs and easy availability, also drives demand.

○ Safety Features:
Safety is a paramount concern for consumers. Bicycles with enhanced safety features, such as improved braking systems, visibility aids, and smart technologies, are likely to be in higher demand.

𝐖𝐚𝐧𝐭 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/8140

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the bicycle industry.
○ In-depth analysis and the bicycle market segments and the market size assist to determine the prevailing the bicycle market opportunity.
○ The major countries in each region are mapped according to their revenue contribution to the market.

𝐑𝐞𝐚𝐬𝐨𝐧 𝐭𝐨 𝐁𝐮𝐲 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

○ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Bicycle Market.
○ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
○ The key findings and recommendations highlight crucial progressive industry trends in the Bicycle Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
○ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
○ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
○ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Bicycle Pet Seat Market Growth Opportunities In Global Industry By 2027
https://www.alliedmarketresearch.com/bicycle-pet-seat-market-A07934

○ Smart Sports Equipment Market size valued at $12.0 billion by 2026
https://www.alliedmarketresearch.com/smart-sports-equipment-market

○ Sports Training Market is projected to reach $18.85 billion by 2031
https://www.alliedmarketresearch.com/sports-training-market-A16942

○ Sports Events Market is projected to reach $609.07 billion by 2031
https://www.alliedmarketresearch.com/sports-events-market-A16874

○ Recreation Clubs Market is projected to reach $91.4 billion by 2031
https://www.alliedmarketresearch.com/recreation-clubs-market-A16934

○ Sports Watches Market is projected to reach $54.9 billion by 2031
https://www.alliedmarketresearch.com/sports-watches-market-A16907

○ Kids Smartwatch Market is projected to reach $4,268.7 million by 2030
https://www.alliedmarketresearch.com/kids-smartwatch-market-A13141

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