Bicycle Market Trends, Analysis & Forecast, 2032

Bicycle Market is projected to cross USD 102.8 Bn by 2032, cites the latest research analysis by Global Market Insights Inc. As per the report, the market experiences sustained growth due to a series of product launches and innovative developments by industry leaders. For instance, in November 2023, Honda introduced its inaugural electric bicycle concept, the e-MTB, during the Japan Mobility Show. Unlike many other concept designs, this electric bicycle appears to be nearly production-ready in terms of its design.

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Women segment will register a noteworthy CAGR from 2023 to 2032, as per the report. Women of all ages are increasingly embracing bicycles for various purposes. Bikes serve as eco-friendly transportation options, exercise equipment, and a means of recreation. The versatility, health benefits, and empowerment associated with cycling appeal to women, making them a significant segment of the market. Bicycle manufacturers continue to cater to their specific needs, further driving the bicycle market growth among female consumers.

Traditional bicycle industry could exhibit a decent growth rate over 2023-2032, claims the report. Loved for their simplicity, reliability, and eco-friendliness, traditional bikes are versatile and cost-effective. They serve various purposes, from commuting to leisure rides and exercise. In both urban and rural areas, people value the practicality and health benefits of traditional bicycles, ensuring their enduring contribution to the bicycle market demand.

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Europe bicycle industry will register a robust CAGR from 2023 to 2032, owing to Europe's strong focus on environmental sustainability and healthy living, encouraging bicycle use. Extensive cycling infrastructure in many European cities promotes commuting and leisure riding. Additionally, the growing preference for e-bikes, combined with government incentives, further fuels demand. Europe's enduring love for cycling as a practical and eco-friendly transportation mode sustains the vibrant bicycle market in the region.

Cannondale, MERIDA BIKES, Trek Bicycle Corporation, Cube Bikes Colnago, Tern Bicycles, Giant Manufacturing Co., Ltd., Scott Sports, Fuji Bikes, GT Bikes, Specialized Bicycle Components, Inc., among others. Company efforts to introduce innovative initiatives, such as refurbishment programs and old bike trade-ins, serve to stimulate consumer engagement and enhance their foothold in the market.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Bicycle market 3600 synopsis, 2018 - 2032

2.2    Business trends

2.3    Regional trends

2.4    Type trends

2.5    Usage type trends

2.6    End-user trends

Chapter 3   Bicycle Industry Insights

3.1    Impact of COVID-19

3.2    Impact of the Russia-Ukraine war

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.7    Patent analysis

3.8    Key news and initiatives

3.8.1    Partnership/Collaboration

3.8.2    Merger/Acquisition

3.8.3    Investment

3.8.4    Level of autonomy launch & innovation

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    Increasing awareness of health and fitness

3.10.1.2    Growing environmental and sustainability awareness

3.10.1.3    Rising demand for cycling events and tourism

3.10.1.4    Increasing promotion of cycling as a sport

3.10.2    Industry pitfalls & challenges

3.10.2.1    Safety concerns

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:

Aashit Tiwari
Corporate Sales, USA
Global Market Insights Inc.
Toll Free: +1-888-689-0688
USA: +1-302-846-7766
Europe: +44-742-759-8484
APAC: +65-3129-7718
Email: sales@gminsights.com 

 

 

 

 

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