Market Analysis
The global bicycle market will touch USD 63474.2 million at a 5.02% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Bicycles are of two types e-bikes and conventional. Owing to its alluring features and benefits, it has wide applications in transport tools, recreation, and racing. Using bicycles have plenty of benefits over cars, such as less congestion and less traffic, less pollution, and less wear and tear. It also offers several health benefits such as management or prevention of disease, decreased levels of body fat, strengthened bones, improved coordination, and posture, decreased stress levels, improved joint mobility, increased flexibility and muscle strength, and increased cardiovascular fitness.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/6928
Various factors are propelling the global bicycle market growth. According to the recent MRFR report, such factors include growing adoption of cycling as a form of leisure, awareness about the health benefits of cycling, save time, limited parking space, growing traffic congestions, growing incidences of chronic diseases like diabetes, obesity, and CVDs, growing penetration of e-bikes, rise in online platforms that offers dockless bicycle-sharing systems. Besides, the growing demand for hybrid bicycles and e bicycles during the COVID-19 pandemic is also adding electric bicycle market growth.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global bicycle market based on application and type.
By type, the global bicycle market is segmented into conventional bikes and e-bikes. Of these, conventional bikes will lead the market over the forecast period. While the e-bikes segment is likely to grow at a 5.94% CAGR.
By application, the global bicycle market is segmented into transport tools, recreation, and racing. Of these, the recreation segment will dominate the market over the forecast period. It is predicted to touch USD 36,832.4 million by 2023, while the transportation tools segment is predicted to grow at 5.38% CAGR.
Regional Analysis
By region, the global bicycle market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. It is likely to grow at a 5.74% CAGR. Growing population, consolidation of key players, improved living standards, lowest accident rates, and growing per capita income are adding to the global bicycle market growth in the region.
In Europe, the global bicycle market is predicted to have the second-largest share over the forecast period. Rising health consciousness, ongoing trend of adventure sports, presence of ideal cities for bicycle commutation, organization of popular bicycling events, rolling out of infrastructure to encourage and support bicycle commutation, and growing popularity of e-bike tourism are adding to the global bicycle market growth in the region. Germany has the utmost share in the market.
In North America, the global bicycle market is predicted to have healthy growth over the forecast period. It is likely to grow at a 4.15% CAGR by 2023. Demand for e-bikes, increased urbanization, and desire for alternative mobility is adding to the global bicycle market growth in the region.
In the RoW, the global bicycle market is predicted to have sound growth over the forecast period. It is likely to grow at a 4.63% CAGR by 2023.
Competitive Dashboard
Key contenders profiled in the global bicycle market report include NYCeWheels Inc, Tianjin Fuji-ta Group Co., Ltd, Hero Cycles Limited, Avon Cycles, Specialized Bicycle Components, Trek Bicycle Corporation, Moustache Bikes, Easy Motion USA, F.I.V.E. Bianchi SpA, Merida, Tube Investments of India Limited, Accell Group, Derby Cycle, Cannondale, and Giant Bicycles.
Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
Browse Report @ https://www.marketresearchfuture.com/reports/bicycle-market-6928
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/bicycle-market-6928