Dublin, July 03, 2024 (GLOBE NEWSWIRE) -- The "Bicycle Market: Trends, Forecast and Competitive Analysis [2024-2030]" report has been added to ResearchAndMarkets.com's offering.
The global bicycle market is expected to reach an estimated $62 billion by 2030 with a CAGR of 4% 2023 to 2030.
The future of the global bicycle market looks promising with opportunities in the road bicycle, mountain bicycle, kids bicycle, e-bicycle and other bicycle segments. The major drivers for this market are raising fuel prices, government programs to build bicycle paths and roads, increasing health concerns/fitness consciousness, growing environmental awareness, and increasing traffic congestion.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bicycle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Key Findings
- 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 region and witness the highest growth over the forecast period due to government initiatives to promote sustainable transportation and a healthier lifestyle.
Recent Developments in the Bicycle Market
- In January 2022, Tube Investments of India Ltd (TII) announced that it will acquire a 70% stake in start-up Cellestial E-Mobility Pvt. Ltd. for$1.61 billion. Cellestial E-Mobility designs and manufactures electric tractors, aviation ground support electric equipment, and other electric machinery. According to TII's regulatory filing, it has already designed and developed two tractor prototypes for production. The formation of a separate subsidiary and the acquisition of a controlling stake in Cellestial will allow the company to devote the necessary attention to the emerging growth opportunities in electric vehicles.
- In October 2022, PON acquired Dorel Industries for $810 million. This includes Cannondale, Schwinn, GT, Mongoose, and other bike brands. Dorel Industries mentioned that the sale will return $390 million to shareholders in the form of a special dividend of $12 per share
- In 2022, Porsche launched new projects in conjunction with Pononoc Investment, the venture capital arm of Dutch conglomerate PON Holdings, focused on sustainable energy and mobility. Cervelo, Focus, Santa Cruz, Juliana, Kalkhoff, Urban Arrow, Gazelle, Cannondale, GT, Schwinn, and Mongoose are among the bicycle brands owned by PON. Porsche, for its part, manufactures a limited number of Porsche-branded e-bikes in collaboration with German mountain bike producer Rotwild, owns a controlling position in Croatian e-bike brand Greyp Bikes, and entirely owns German e-bike drive manufacturer Fazua.
Europe is expected to remain the largest region in Bicycle Market
- United States: Companies like Trek and Specialized are leading bicycle market innovations, with Trek announcing advancements in electric bike technology. US government aims to promote cycling infrastructure and adoption through initiatives like the Bike to Work program.
- China: Chinese firms like Giant and Merida are investing in bicycle manufacturing, with Giant unveiling plans to expand production capacity. Chinese government supports bicycle usage for transportation and fitness through initiatives like the National Fitness Program.
- Netherlands: Dutch companies like Gazelle and Batavus are driving bicycle market growth, with Gazelle introducing new urban mobility solutions. Dutch government promotes cycling infrastructure development through initiatives like the National Cycling Plan.
- Germany: German companies like Canyon and Cube are expanding their presence in the bicycle market, with Canyon announcing advancements in carbon fiber bike frames. German government supports cycling initiatives through programs like the Federal Ministry of Transport and Digital Infrastructure.
Features of the Global Bicycle Market
- Market Size Estimates: Global bicycle market size estimation in terms of value ($M) and volume (million units) shipment.
- Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments.
- Segmentation Analysis: Global bicycle market size by various segments, such as by type in terms of value and volume.
- Regional Analysis: Global bicycle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different segments by a type and regions for the global bicycle market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global bicycle market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model
Company Profiles of Leading Players
- Giant Manufacturing
- Merida Industry Co. Ltd.
- Accell Group NV
- Dorel Industry
- Tube Investment of India Ltd.
- Ideal Bike Corporation
- Hero Cycles
- Specialized Bicycle Components, Inc
- Trek Bicycle Corporation
- Zhonglu Group Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/9ke876
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