Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The global bicycle market size is expected to experience exponential growth by reaching USD 147.24 billion by 2027 while exhibiting a CAGR of 6.1% between 2020 and 2027. This growth is ascribable to factors such as the increasing focus on developing eco-friendly cycles by the manufacturers and the rising incidence of obesity among the population that promotes bicycle riding globally.
This information is published by Fortune Business Insights in its latest report, titled, “Bicycle Market Size, Share & COVID-19 Impact Analysis, By Type (Road, Mountain, Hybrid, and Others), Technology (Electric and Conventional), End-User (Men, Women, and Kids), and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 65.43 billion in 2019
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bicycle-market-104524
Increasing Focus on Maintaining Fitness Levels to Surge Bicycle Sales amid COVID-19
The growing awareness regarding the need to ensure the overall well-being of health leads people to adopt fitness regimes that include walking, gym, and cycling. This is expected to boost the sales of cycles owing to the rising demand for cycling as a recreational sport among the population. Additionally, the ensuing lockdown amid the COVID-19 has halted public transport services that is likely to propel the demand for cycles globally.
A bicycle is either a human-powered or a motor-powered vehicle consisting of two wheels attached to a frame. They are a principal medium of transportation in several countries across the globe. Having undergone tremendous changes since its inception, the manufacturers are more focused on introducing safe and comfortable riding vehicles for the population globally.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/bicycle-market-104524
DRIVING FACTORS
Increasing Prevalence of Obesity to Favor Growth
According to the World Health Organization (WHO), in 2019, about 38 million children under the age group of 5 were found to be suffering from obesity. The increasing incidence of obesity among the younger population is propelling the need to adopt a healthy lifestyle across the globe. With more focus on improving health and fitness, people globally turn towards recreational activities such as cycling, walking, and others that are likely to favor the demand for advanced bicycles. Furthermore, the manufacturers are keen on introducing sustainable cycle products to cater to the growing demand for eco-friendly cycles contributing to the global bicycle market growth in the forthcoming years.
SEGMENTATION
Road Segment Held 35.38% Market Share in 2019
The road segment, based on type, is expected to gain momentum owing to the growing number of bicycle riding commuters that are preferring several types of cycles such as mountain bikes, electric bikes, and others for their daily cycling routine on roads.
Quick Buy - Bicycle Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104524
REGIONAL INSIGHTS
Asia-Pacific to Remain at Forefront; Presence of Large Production Facilities to Favor Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global market during the forecast period. This dominance is attributable to the presence of large production facilities that enables the manufacturers to develop innovative bikes in the region between 2020 and 2027.
The market in Europe is expected to experience significant growth backed by favorable government initiatives to develop charging infrastructure for electric bicycles in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Partnerships by Major Companies to Brighten Their Market Prospects
The global bicycle market is consolidated by the presence of several companies that are focusing on maintaining their presence and further gaining a major chunk of share in terms of revenue. They are doing so by focusing on establishing a partnership with other companies to expand their cycle product portfolio and cater to the growing demand for advanced road bikes during the forecast period.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/bicycle-market-104524
Industry Development:
- February 2020: Saris, an exercise & fitness related equipment maker, announced its partnership with the U.S. based indoor specialist, eSports cycling team. The partnership is aimed at expanding the cycling business under the sports cycle segment.
List of the Companies Profiled in the Global Market:
- Hero Motocorp Ltd.
- Roth Distributing Co. Ltd.
- Dorel Industries Inc.
- Kona Bikes
- Chimera Investments LLC.
- Pon Holdings BV
- Grimaldi Industri AB
- Orbea Corporation (
- The Raleigh Bicycle Company
- Accel Group N.V.
Major Table of Bicycle Market:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Bicycle Market Analysis, Insights, and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Road
- Mountain
- Hybrid
- Others
- By Technology (Value)
- Electric
- Conventional
- By End-User (Value)
- Men
- Women
- Kids
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/bicycle-market-104524
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US : +1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
