Introduction of the Bicycle Market Report

The market is witnessing an increase in demand as the customers are becoming more health-conscious around the world. Individuals are choosing bicycling as leisure activity which is driving the demand for bicycles.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is contributing to the growth of the market includes the growing preference for the bicycle as a convenient form of exercise to ensure a healthy life which is free from obesity and other cardiovascular diseases. Moreover, the increasing popularity of dockless bicycle-sharing systems is further surging the market growth. This type of system allows the user to locate a bicycle nearby and unlock it electronically. The customers are becoming aware of the importance of staying fit and having a healthy lifestyle. This will further encourage them to opt for bicycles over the coming years. In addition to this, the rising number of events, such as the Tour de France and Ronde van Vlaanderen, is further adding to the popularity of this type of vehicle.

The rising traffic congestion and the shortage of parking space, especially in the urban cities, has increased the demand for bicycles for short distance travel in order to save time and money. The growing government support related to the construction of the paddle cycle sharing facilities will increase the demand for the product, especially in the local population. In 2020, the City of Austin, the government of Texas entered into a partnership with Austin-based Capital Metropolitan Transportation Authority to launch the “Austin BCycle” Bike share program, which included the installation of a new bike station in the city.

Restraint in the Bicycle Industry

On the other hand, the wide availability of alternative travelling choices to the customers is hampering the market growth.

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Product Type – Segment Analysis

Based on the product type, the road is projected to grow at a higher CAGR during the forecast period. This is attributed to the strong demand for this type of bicycle since they do not need sophisticated accessories as required in mountain, racing, or other bicycles. Furthermore, the emerging trend of customization of road bicycles for specific purposes is further surging the demand for the market.

Technology – Segment Analysis

Based on the technology, conventional bicycle is expected to grow at a higher CAGR during the forecast period. Several benefits offered includes less maintenance and repair cost, is surging the demand of the market. On the other hand, the electric technology is projected to dominate the market over the coming years. The electric bicycles are easy to operate, ensure faster journeys than other counterparts, and are environment friendly. All these factors are fuelling the growth of the market over the coming years.

Distribution Channel – Segment Analysis

Based on the distribution channel, the offline retail stores is projected to grow at a higher CAGR during the forecast period. The growing preference of the customers towards offline retail stores owing to their ability to provide test-drive options is a propelling the market growth. Moreover, this type of store provides customized buying options, where the customers can choose their own bicycle design and color according to their choice.

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Regional – Segment Analysis:

On the regional coverage, Asia-Pacific is expected to grow at a higher CAGR during the forecast period. This is mainly due to the strong presence of large production facilities in countries like India, Japan, and China. As per the Ministry of Economic, Trade, and Industry (METI), the bicycle production in Japan amounted to USD 579.61 million for the year 2018, which was USD 556.60 million in 2017. Additionally, the emergence of road cycling events has further supported the regional market growth. In 2020, the Asian Cycling Federation introduced its 40th road cycling championship event in Malaysia. Such factors are expected to increase awareness and adoption of bicycles among the youth.

Top Market Players

Various notable players operating in the market, include Hero MotoCorp Ltd., Dorel Industries, Kona Bikes, Chimera Investment, Pon, Grimaldi Industries, Orbea S. Coop. N.I.F., Raleigh America, Accell Group, and Cervélo, among others. 

Key Developments:

• • In 2020, Chimera Investment acquired the majority equity stakes of Colnago Ernesto E C Srl, one of the Cambiago-based bicycle maker.
  • In 2019, Hero MotoCorp , acquired 48% stake of HNF NICOLAI, one of the Germany-based vehicle maker. Through this acquisition, the company aims to penetrate its electric bicycle business in India to utilize its partner’s production facilities.

Segments covered in the Report:

The global Bicycle market has been segmented on the basis of Technology, End-User, Distribution Channel, Product Type and regions. Based on Technology, the market is segmented into Electric and Conventional. Based on End-User, the market is segmented into Men, Women, and Kids. Based on Distribution Channel, the market is segmented into Offline Retail Stores and Online Retail Stores. Based on Product Type the market is segmented into Mountain Bicycle, Hybrid Bicycle, Road Bicycle, and Others. 

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Key questions answered in this research report:

• • At what pace is global Bicycle market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Bicycle market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Bicycle market?
  • Which Technology generated maximum revenues in 2019 and identify the most promising Technology during the forecast period?
  • What are the various End-User areas of global Bicycle market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By End-User, By Distribution Channel, By Product Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Hero MotoCorp Ltd., Dorel Industries, Kona Bikes, Chimera Investment, Pon, Grimaldi Industries, Orbea S. Coop. N.I.F., Raleigh America, Accell Group, and Cervélo, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Bicycle Market Segmentation

Global Bicycle Market by Technology

• • Electric
  • Conventional

Global Bicycle Market by End-User

• • Men
  • Women
  • Kids

Global Bicycle Market by Distribution Channel

• • Offline Retail Stores
  • Online Retail Stores

Global Bicycle Market by Product Type

• • Mountain Bicycle
  • Hybrid Bicycle
  • Road Bicycle
  • Others

Global Bicycle Market by Region

• • North America Bicycle Market (Option 1: As a part of the free 25% customization)
    • North America Bicycle Market by Technology
    • North America Bicycle Market by End-User
    • North America Bicycle Market by Distribution Channel
    • North America Bicycle Market by Product Type
    • US Bicycle Market All-Up
    • Canada Bicycle Market All-Up
  • Europe Bicycle Market (Option 2: As a part of the free 25% customization)
    • Europe Bicycle Market by Technology
    • Europe Bicycle Market by End-User
    • Europe Bicycle Market by Distribution Channel
    • Europe Bicycle Market by Product Type
    • UK Bicycle Market All-Up
    • Germany Bicycle Market All-Up
    • France Bicycle Market All-Up
    • Spain Bicycle Market All-Up
    • Rest of Europe Bicycle Market All-Up
  • Asia-Pacific Bicycle Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Bicycle Market by Technology
    • Asia-Pacific Bicycle Market by End-User
    • Asia-Pacific Bicycle Market by Distribution Channel
    • Asia-Pacific Bicycle Market by Product Type
    • China Bicycle Market All-Up
    • India Bicycle Market All-Up
    • Japan Bicycle Market All-Up
    • Rest of APAC Bicycle Market All-Up
  • RoW Bicycle Market (Option 4: As a part of the free 25% customization)
    • RoW Bicycle Market by Technology
    • RoW Bicycle Market by End-User
    • RoW Bicycle Market by Distribution Channel
    • RoW Bicycle Market by Product Type
    • Brazil Bicycle Market All-Up
    • South Africa Bicycle Market All-Up
    • Saudi Arabia Bicycle Market All-Up
    • UAE Bicycle Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Bicycle Market All-Up

Major Players Operating in the Bicycle (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hero MotoCorp Ltd.
  • Dorel Industries
  • Kona Bikes
  • Chimera Investment
  • Pon
  • Grimaldi Industries
  • Orbea S. Coop. N.I.F.
  • Raleigh America
  • Accell Group
  • Cervélo