Adoption of healthy lifestyles and product innovations are driving the growth of the bicycle market. The European bicycle market is expected to grow significantly with a CAGR of 10.4% during the period 2022-2032. The road bike segment holds 40% of the bicycle market share in 2021
NEWARK, Del., July 15, 2022 /PRNewswire/ — The bicycle market is expected to experience a substantial CAGR of 4.76% and is expected to grow from US$1159.6 billion in 2022 at US$1861.8 billion by 2032.
Customer demand for cycling as a convenient form of exercise to ensure a healthy life free from obesity and other diseases is expected to further increase the market share of cycling. Many governments are aggressively building the infrastructure needed to support bicycle commuting at the same time, driving demand for bicycles.
The creation of dockless bike-sharing services that use mobile apps is the result of recent advances in GPS technology and the development of mobile apps. The widespread use of these dockless bike-sharing programs is also expected to significantly increase bike sales.
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Due to the emergence of several online bicycle booking platforms through web portals and mobile apps, such as Uber Bike, Yulu and others, the usage of cars is expected to increase. This presents many opportunities in the bicycle market.
The growth of the bicycle market is expected to be further fueled by expanding media coverage of these events and the growing influence of celebrity endorsement. Building the infrastructure needed to encourage and support cycling is a top priority in China, Japanand Singapore.
Key insights from market research
- The bicycle market is expected to have a CAGR of 4.76% during the forecast period.
- The bicycle market has a market valuation of US$1159.6 billion in 2022
- The market is segmented on the basis of product, with road bike accounting for an adequate global market share of 40% in 2021.
- The market is segmented based on end-user, with the men’s segment representing a global bicycle market share of 40% in 2021.
- The market is segmented on the basis of technology, with the conventional segment accounting for a significant share of the global bicycle market revenue of 80% in 2021.
- The Asia Pacific The bicycle market is expected to grow at the fastest rate with a revenue share of 30% over the forecast period.
- The Europe The bicycle market is expected to grow significantly with a CAGR of 10.4% during the forecast period.
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The major players in the bicycle market can develop and promote newer and better products at higher prices in order to maintain a competitive edge in the bicycle market. As there are so many important players in the bicycle market, the expanding market is very fragmented and diverse in its structure.
Some of the major players in the bicycle market are Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA and Trek Bicycle Corporation.
- In order to develop its activities in this sector, Beerens Groep NV, a Belgian automotive supplier, in July 2020acquired the distributor of a brand of felt from its French parent company Skis Rossignol SA, Van der Wal.
- Pony is a 2017 app-based platform for dockless bike rentals in a few locations across Europe. The software allows users to find nearby available vehicles and lock/unlock them by scanning a QR code. Users can leave the bike at any authorized place when they arrive at their destination.
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By product type:
- Low end
- Medium range
Per end user:
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
3.2. Scenario forecast
3.3. Opportunity Map Analysis
3.4. Product life cycle analysis
3.5. Supply chain analysis
3.6. Investment Feasibility Matrix
4. Global Bicycle Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size (Million US$) and Volume (Units) Value Analysis, 2017-2021
4.2. Current and Future Value Projections of Market Size (Million US$) and Volume (Units), 2022-2032
4.2.1. Analysis of annual growth trends
4.2.2. Analysis of opportunities in absolute dollars
5. Global Bicycle Market Analysis 2017-2021 and Forecast 2022-2032, By Product
5.1. Introduction / Main results
5.2. Historical Market Size (USD Million) and Volume (Units) Value Analysis by Product, 2017-2021
5.3. Market Size (Million US$) and Volume (Units) Current and Future Value Analysis and Forecast by Product, 2022-2032
The table of contents continues..!
About FMI – Automotive and Transportation
FMI’s Automotive and Transportation division provides exclusive coverage and actionable insights into the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and rail sectors. Market findings and competitive intelligence from the OEM, aftermarket, service and technology landscape have helped numerous industry players, automakers, component manufacturers, channel partners and service providers services, make informed decisions and stay abreast of market behavior.
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