Growth Opportunities in the Global Bicycle Market

According to a new market report published by Lucintel, the future of the global bicycle market looks promising with opportunities in the road bicycle, mountain bicycle, kids bicycle, and e-bicycle segments. The global bicycle market is expected to grow to $71.3 billion at a CAGR of 8% from 2020 to 2026. The major drivers for this market are increasing fuel prices, government programs to build bicycle paths and roads, increasing health concerns/fitness consciousness, growing environmental awareness, and increasing traffic congestion.
In this market, road bicycle, mountain bicycle, kids bicycle, e-bicycle and other bicycle are used for travelling, exercise, and recreational activities. On the basis of comprehensive research, Lucintel forecasts that e-bicycle will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the increasing demand for zero emission climates, government regulations, and safety standards for bicycling. Development of cycling infrastructure will have a larger impact on the electric bicycle market in emerging markets in the coming years.
Europe is expected to remain the largest market and witness the highest growth over the forecast period due to government initiatives to promote sustainable transportation and a healthier lifestyle
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing trend of bike sharing, development of folding bicycles, and custom fit bicycles. Giant Manufacturing, Merida Industry Co. Ltd., Accell Group NV, Dorel Industry, Tube Investment of India Ltd., Ideal Bike Corporation, Hero Cycles Ltd. are among the major manufacturers of the bicycle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bicycle market by bicycle type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Bicycle Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global bicycle market by bicycle type and region, as follows:
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/electric-vehicle-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q.1 What are some of the most promising growth opportunities for the global bicycle market by type (road bicycle, mountain bicycle, kids bicycle, e-bicycle, and other bicycles) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last five years?