Bicycle Market to Grow at a Significant CAGR During Forecast Period
Increasing awareness about adoption of healthy
lifestyle to drive global bicycle market
According to TechSci Research report, “Global Bicycle Market By
Product Type (Mountain Bike, Hybrid/Commuter Bike, Road Bikes, Youth Bike,
Touring Bikes, Electric Bikes & Others), By Technology (Conventional,
Electric), By Price (Premium, Mid-Range, Low-Range), By End User (Men, Women,
Kids), By Region, Forecast & Opportunities, 2025”, the global market for bicycles is expected to grow at
a significant CAGR during the forecast period. The major driving factor for the
market is the increasing awareness amongst the population about leading a
healthy lifestyle. Individuals have initiated taking care of their physical
health by shifting from cars and motorcycles to bicycles in order to carry out
physical exercises and stay fit. A consistent inclination towards physically
active lifestyle has, in a way, promoted sport activities like cycling,
running, etc. all around the world. Therefore, the increasing in demand of such
leisure activities has also led to the market growth globally. Furthermore,
governments all around the world are taking initiatives to promote the use of
bicycles by conducting international tournaments and improving the
participation rate in them. This is also a major factor pushing the market
towards growth. One such initiative is that the UK government incorporated a
GBP long-term plan worth 1.2 billion to ensure that walking and cycling are
chosen over other means of transport for short journeys.
Browse XX market data
Tables and XX Figures spread through XXX Pages and an
in-depth TOC on " Global Bicycle
Market"
https://www.techsciresearch.com/report/bicycle-market/4987.html
Global bicycle market is segmented based on product
type, technology, price, end user, company and region. Based on product type,
market is segmented into mountain bike, hybrid/commuter bike, road bikes, youth
bike, touring bikes, electric bikes & others. Out of these, road bikes
segment dominated the market in the year 2019 as it is the most basic mode of
transport. It is easily available and requires no special features as in
mountain bikes or touring bikes. Based on end user, market is trifurcated into men,
women, and kids. Amongst these, men segment held the lion’s share in the market
in 2019 as the number of men riding bicycles are larger than the number of
women or kids riding bicycles.
Based on
regional analysis, Asia-Pacific dominated the market in the year 2019 owing to
emphasis on using bicycle in countries such as China, Singapore, Japan, etc.,
over any other means of transport.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4987
Customers can also request
for 10% free customization on this report.
Some of the leading players
in global bicycle market include Accell Group NV, Atlas Cycles Ltd., Derby
Cycle Holding GmbH, Dorel Industries Inc., Giant Manufacturing Co. Ltd., GUANGDONG
TANDEM INDUSTRIES Co. Ltd., Insera Sena. PT., Merida Industry Co. Ltd., Tandem
Group Plc, Trek Bicycle Corp, and many others. Various new innovations are being
made by the global players in order to stay highlighted in the market such as
introducing shock absorbers and efficient gear systems in bicycles.
“Global
bicycle market is anticipated to witness significant growth during the next
five years as the rapid urbanization and technological advancements has changed
the lifestyle of the people and pushed it towards a negative path. Thus, there
is a soaring need of people to adopt healthy lifestyle, which is expected to
drive the market during the forecast period. However, people have shown more
inclination towards refurbished bicycles lately, which is expected to slow down
the market growth.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Bicycle Market By Product Type (Mountain Bike,
Hybrid/Commuter Bike, Road Bikes, Youth Bike, Touring Bikes, Electric Bikes
& Others), By Technology (Conventional, Electric), By Price (Premium,
Mid-Range, Low-Range), By End User (Men, Women, Kids), By Region, Forecast
& Opportunities, 2025” has evaluated the future growth potential of global bicycle
market and provided statistics & information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with essential
drivers, challenges and opportunities in global bicycle market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]