Bicycle Market to Show Incredible Growth at a CAGR of 4.8% From 2021 to 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.

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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.

The global bicycles market is poised for significant growth, driven by their versatile use in sports, travel, and leisure activities. Bicycles are prized for their low maintenance, fuel-saving, and time-efficient attributes, making them accessible to individuals of all ages. Manufacturers are keenly observing market trends and integrating innovations into upcoming models, including lightweight aluminum and carbon bodies, aerodynamic designs for enhanced speed, and long-lasting batteries. These advancements are made available at reasonable prices, ensuring wider accessibility.

Additionally, bicycle associations play a pivotal role in market expansion by organizing rallies and sports events that encourage membership and promote cycling as a healthy and enjoyable activity. Consequently, consumers increasingly view bicycles as tools for exercise and recreation, fostering positive growth in the global market.

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.

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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.

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.

𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐦𝐚𝐧𝐝 𝐢𝐧 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐁𝐢𝐜𝐲𝐜𝐥𝐞𝐬 (𝐞-𝐛𝐢𝐤𝐞𝐬): The popularity of e-bikes has been surging globally. With advancements in battery technology, e-bikes offer extended range and improved performance, making them attractive for commuters and recreational cyclists alike. Market demand for e-bikes is expected to continue growing as more consumers seek eco-friendly transportation options and governments incentivize electric mobility.

𝐔𝐫𝐛𝐚𝐧 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: As cities aim to reduce traffic congestion and pollution, there's a growing demand for urban mobility solutions, including bicycles. Bike-sharing programs, bike lanes, and infrastructure improvements are encouraging more people to cycle for short-distance commuting and leisure activities. The bicycle industry is responding by designing bikes tailored for urban environments, such as folding bikes and lightweight city cruisers.

𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐄𝐜𝐨-𝐟𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬: Consumers are increasingly conscious of the environmental impact of their purchases. This has led to a rise in demand for sustainably produced bicycles and accessories. Manufacturers are focusing on using eco-friendly materials, reducing carbon emissions in production processes, and implementing recycling initiatives. Brands that prioritize sustainability are likely to gain a competitive edge in the market.

𝐇𝐞𝐚𝐥𝐭𝐡 𝐚𝐧𝐝 𝐖𝐞𝐥𝐥𝐧𝐞𝐬𝐬: The COVID-19 pandemic has heightened awareness of health and wellness, prompting more people to adopt active lifestyles. Cycling offers a low-impact form of exercise that appeals to individuals of all ages and fitness levels. As a result, there's a growing market for bikes designed for fitness, recreation, and outdoor exploration. Additionally, the integration of smart technologies into bikes, such as fitness tracking and GPS navigation, is enhancing the cycling experience and attracting health-conscious consumers.

𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧: Consumers are increasingly seeking products that reflect their individuality and preferences. In the bicycle industry, this trend is manifesting in the form of customizable bikes and accessories. Manufacturers and retailers are offering options for consumers to personalize their bikes with different colors, components, and accessories. Customization not only enhances the overall cycling experience but also fosters brand loyalty and customer satisfaction.

𝐂𝐲𝐜𝐥𝐢𝐧𝐠 𝐓𝐨𝐮𝐫𝐢𝐬𝐦: Cycling tourism is a growing segment within the travel industry, driven by the desire for immersive and sustainable travel experiences. Regions with scenic landscapes and well-developed cycling infrastructure are attracting cyclists from around the world. Bike manufacturers, tour operators, and hospitality providers are capitalizing on this trend by offering guided cycling tours, bike-friendly accommodations, and specialized travel services.

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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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