Bicycle Market Progresses for Huge Profits During 2018-2027

Bicycle Market: Introduction

Transparency Market Research delivers key insights on the global bicycle market. In terms of revenue, the global bicycle market is estimated to expand at a growth rate of 5.5% during the forecast timeline, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global bicycle market report.

In the report, TMR predicts that the global bicycle market would be largely driven by growing bicycle production across the globe and growth in population, which has led to the adoption of bicycles globally, mainly in countries such as the U.S., Germany, China, and India that is expected to boost the growth of the bicycle market in the upcoming years.

In the bicycle market research report, in terms of type, the market has been divided into road bicycle, mountain bicycle, hybrid bicycle, touring bicycle, fitness bicycle, cruiser bicycle, cyclocross bicycle, and others. The demand for road bicycles is high at the global level. Major factors driving market growth of road and mountain bicycles are the health benefits that they offer, including increased cardiovascular fitness, muscle strength, and flexibility, improved joint mobility, decreased stress levels, better posture and coordination, strengthened bones, and lowered body fat levels.

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Based on technology, the global bicycle market has been classified into conventional and electric. The demand for electric bicycles is increasing at a higher pace. Battery powered cycle tops at 25 kmph, which means given a free road, it can travel 4 km in approximately 10 minutes. In the event of a roadblock, it can easily be maneuvered within the traffic, or bypass the main road via streets– a luxury that not even traditional two wheelers have. This is one of the greatest advantages of an electric bicycle.

In terms of gear type, the global bicycle market has been divided into without gear and with gear. Gearless bicycles are expected to have higher demand in the upcoming years. Gearless cycles are easy to use. Consumer do not have to worry about the correct gear combinations or shifting gears accurately. They can enjoy a simple ride and experience relaxation. Bicycles provide increased cardiovascular fitness, which is one of the market growth factors.

Bicycle Market: Prominent Regions

Asia Pacific accounted for a major share of the bicycle market in 2019. Increasing efforts to maintain a healthy lifestyle coupled with easy government rules and regulations pertaining to manufacturing units are expected to boost the growth of the market. North America is the second largest bicycle market as a result of high consumer adoption rate. Key factor driving the market growth in North America is rising demand for bicycles from health conscious people. The U.S. is one of the key COVID-19 affected countries, which is slowing down the market growth.

The COVID-19 pandemic in different European countries has had a major impact on this market. It has been observed that bicycle sales have dropped in the first quarter. However, after relaxation of lockdown, consumer demand for bicycles has increased drastically in Germany, France, Spain, and other European countries. Furthermore, consumer demand for premium products is driving the market, apart from high spending power of the middle class population.

Bicycle Market: Key Players

Some of the key players operating in the bicycle market are BMC Switzerland AG, Boardman Bikes Ltd, Cannondale Bicycle Corporation (Cycling Sports Group, Inc.), Firefox Bikes, Fuji Bike Worldwide, Giant Bicycle, SCOTT Sports SA, Shimano Inc., Specialized Bicycle Components, Inc., and Trek Bicycle Corporation.

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Global Bicycle Market: Segmentation

Bicycle Market, by Type

Road Bicycle
Mountain Bicycle
Hybrid Bicycle
Touring Bicycle
Fitness Bicycle
Cruiser Bicycle
Cyclocross Bicycle
Others

Bicycle Market, by Size

Bicycle Market, by Technology

Conventional
Electric

Bicycle Market, by Gear Type

Without Gear
With Gear

Bicycle Market, by Suspension

Front Suspension
Full Suspension
No Suspension

Bicycle Market, by Price

Low
Medium
High

Bicycle Market, by End Use

Men
Women
Kids

Bicycle Market, by Distribution Channel

Online

e-Commerce Websites
Company-owned Websites

Offline

Multi Brand Stores
Specialty Stores
Others

Bicycle Market, by Region

North America

U.S.
Canada
Rest of North America

Western Europe

Germany
U.K.
France
Spain
Italy
Nordic countries
Belgium
Netherlands
Luxembourg
Rest of Western Europe

Eastern Europe

Poland
Russia
Rest of Eastern Europe

Asia Pacific

China
India
Japan
ASEAN
Australia
New Zealand
Rest of APAC

Middle East & Africa

GCC Countries
Southern Africa
North Africa
Rest of Middle East & Africa

Latin America

Mexico
Brazil
Peru
Chile
Rest of Latin America

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