Hybrid Bicycles Market Growth Potential & Forecast, 2032

Hybrid Bicycles Market to surpass USD 17.1 Bn by 2032. The broader trend towards sustainability and eco-conscious choices in bicycles will augment the industry outlook. Several manufacturers are focusing on developing hybrid bicycles by deploying advanced lightweight materials, such as carbon fiber, aluminum alloys, and high-strength steel for the overall weight reduction of bikes. To illustrate, in February 2024, Chinese electric bike brand Heybike disclosed plans to launch its first carbon fiber E-bike with a 750W mid-drive motor. The strong focus on improving the performance, maneuverability, and portability of hybrid bicycles for making them more attractive to consumers is another emerging trend favouring the product demand.

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The fitness and exercise application segment is expected to record lucrative expansion in the hybrid bicycles market from 2024 to 2032. The growth can be attributed to the ability of handling a variety of terrains offered by hybrid bikes. The presence of gear systems allows efficient pedaling, further promoting cardiovascular exercise and muscle engagement. Rising incorporation of rack mounts and fender mounts to enable users to attach accessories like cargo racks, panniers, and mudguard will also boost the product application outlook.

Hybrid bicycles industry from the traditional technology segment is expected to expand exponentially up to 2032, led by their versatility in combining features of road bikes and mountain bikes. Traditional bicycles are suitable for various terrains, including paved roads, gravel paths, and light trails. With the growing concerns about environmental sustainability, more people are opting for eco-friendly transportation options. Benefits of adaptability, comfort, and suitability for diverse purposes to align with current lifestyle trends and preferences will also drive the segment growth.

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Europe hybrid bicycles market is estimated to record USD 4.3 billion in valuation by 2032 driven by the higher presence of supportive government policies, subsidies, and incentives for cycling. The growing awareness about the environmental impacts of transportation is prompting regional consumers to choose hybrid bicycles as eco-friendly alternatives to traditional vehicles, providing multiple growth opportunities to several manufacturers. For instance, in January 2024, London-based GIN E-Bikes secured €580k for speeding up the production capabilities of its hybrid bikes. The rising implementation of various measures to reduce car usage and promote cycling will also add to the market growth across the region.

Some of the prominent hybrid bicycles industry players include Avon Cycles Limited, Cannodale Bicycle Corporation, Cube Bikes, Diamondback, Firefox Bikes, Fuji Bikes, Ghost Bikes, Giant Bicycles Inc., Jamis Bikes, Kona Bikes, Trek Bicycle Corporation, Marin Bikes, Merida Industry Co., Ltd., Orbea Bicycles, Scott Sports SA, and Specialized Bicycle Components Inc. These firms are focusing on new product developments to proliferate their product portfolio and customer base. To cite an instance, in October 2023, Cube introduced Cube Fold Hybrid, its new electric urban bike powered by a mid-drive Bosch motor and large capacity battery.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1    Industry 360⁰ synopsis, 2018 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material supplier

3.2.2    Component supplier

3.2.3    Manufacturers

3.2.4    Battery and electric system suppliers

3.2.5    Distributors

3.2.6    End users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news & initiatives

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1   Increasing awareness of health and fitness among people

3.8.1.2   Growing innovations in materials, gears, and electronics

3.8.1.3   Rising demand for eco-friendly transportation solutions

3.8.1.4   Supportive government policies

3.8.2    Industry pitfalls & challenges

3.8.2.1   Higher initial costs of hybrid bicycles

3.8.2.2   Inadequate cycling infrastructure

3.9    Growth potential analysis

3.10    Porter’s analysis

3.10.1    Supplier power

3.10.2    Buyer power

3.10.3    Threat of new entrants

3.10.4    Threat of substitutes

3.10.5    Industry rivalry

3.11    PESTEL analysis

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