Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Sports Bicycle Market by Product Type (Cyclo-cross Bicycles, Mountain Bicycles, Road Racing Bicycles), Application (Offline Retail, Online Retail), End User, Vendor Type - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global sports bicycle market has been racing towards new heights, with an estimated worth of USD 15.65 billion in 2022, a figure that surged to USD 16.94 billion in 2023.
This phenomenal growth is driven by a compelling Compound Annual Growth Rate (CAGR) of 8.40%. Anticipated to continue its ascent, the market is expected to breach the USD 29.83 billion mark by 2030.
Market Segmentation & Coverage:
This comprehensive research report delves deep into the Global Sports Bicycle Market, analyzing trends and forecasting revenues across various sub-markets:
Product Type: The market showcases a diverse range of product types, including Cyclo-cross Bicycles, Mountain Bicycles, Road Racing Bicycles, and Track Racing Bicycles. In 2022, Mountain Bicycles dominated the market, claiming a substantial 34.77% market share, closely followed by Cyclo-cross Bicycles.
Application: With a focus on application, the market is divided into Offline Retail and Online Retail. In 2022, Offline Retail held sway, commanding an impressive 96.94% market share, followed by Online Retail.
End User: The end-user landscape comprises Adult's Sports Bicycle and Kids Sports Bicycle. In 2022, Adult's Sports Bicycle dominated with an 85.54% market share, leaving Kids Sports Bicycle in its wake.
Vendor Type: Exploring vendor types, the market encompasses Aftermarket and OEM, with the OEM sector reigning supreme in 2022, capturing a commanding 72.54% market share.
Region: The market's geographical reach extends across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa led the way in 2022, claiming the lion's share at 33.85%, closely followed by the Americas.
Market Dynamics:
Drivers: The burgeoning demand for sports bicycles among hobbyists and athletes, coupled with the increased availability of branded sports bicycles through regional and online sales channels, is steering the market forward.
Restraints: The market does face some challenges, including the recall of sports bicycles, which can impact consumer trust and confidence.
Opportunities: Exciting prospects lie ahead with the integration of E-bike features in sports bicycles and the endorsement of brands through celebrity partnerships and promotional campaigns.
Challenges: The market must also address challenges related to injury incidence and risk factors associated with sports bicycles.
The report provides valuable insights into:
Market Penetration: Comprehensive information on the market offered by key players.
Market Development: In-depth analysis of lucrative emerging markets and penetration across mature segments.
Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
Market Trends: A comprehensive understanding of the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and high inflation.
Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses critical questions, including:
- What is the market size and forecast of the Global Sports Bicycle Market?
- How are inhibiting factors and the impact of COVID-19 shaping the Global Sports Bicycle Market during the forecast period?
- Which products/segments/applications/areas hold promise for investment in the Global Sports Bicycle Market?
- What is the competitive strategic window for opportunities in the Global Sports Bicycle Market?
- What technology trends and regulatory frameworks prevail in the Global Sports Bicycle Market?
- Who holds the market share among the leading vendors in the Global Sports Bicycle Market?
- What modes and strategic moves are considered suitable for entering the Global Sports Bicycle Market?
Key Attributes:
- No. of Pages: 186
- Forecast Period: 2023 - 2030
- Estimated Market Value (USD) in 2023: $16.94 Billion
- Forecasted Market Value (USD) by 2030: $29.83 Billion
- Compound Annual Growth Rate: 8.4%
- Regions Covered: Global
Companies Mentioned
- Accell
- Diamondback Bicycles
- Dorel Sports by Pon Holdings
- F.I.V. E. Bianchi S.p.A.
- Firmstrong Bikes
- Fuji-ta Bicycle Co., Ltd.
- Giant Manufacturing Co. Ltd.
- GT Bicycles
- Hero Cycles Limited
- Jenson USA
- Kona Bikes
- Marin Mountain Bikes Inc.
- Merida Industry Co. Ltd.
- Pedego Electric Inc.
- Pon Holdings BV
- Pure Fix Cycles, LLC
- Redline Bicycles
- Santa Cruz Bicycles, LLC
- SCOTT Sports SA
- Seven Cycles, Inc.
- Shimano, Inc.
- TII
- Trek Bicycle Corporation
- Yadea Group Holdings Ltd.Group
For more information about this report visit https://www.researchandmarkets.com/r/htmylo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
