[181 Pages Report] The Bicycle Market size was estimated at USD 70.65 billion in 2023 and expected to reach USD 76.30 billion in 2024, at a CAGR 8.29% to reach USD 123.43 billion by 2030.
The bicycle market encompasses human-powered vehicles with two wheels that cover a range of products, including traditional bicycles, electric bicycles, bike components, and related accessories, as well as services such as bicycle rentals, repairs, and maintenance. Increasing environmental awareness worldwide is driving demand for eco-friendly transportation, including transportation. A rising focus on health and fitness is fueling the popularity of recreational cycling, driving the growth of the market. Urbanization and congestion issues have further positioned bicycles as a convenient mode of transportation. Infrastructure limitations and safety concerns associated with bicycles hamper the market growth. The continuous emergence of e-bikes and advancements in design that allow market players to meet evolving consumer preferences are expected to fuel the growth of the bicycle market. Additionally, the integration of smart technologies in bicycles presents opportunities for continued market expansion of the bicycle market.
Regional Insights
America showcases the developed landscape for the bicycle market, the significant growth supported by the developed nations, including the U.S. and Canada, followed by Mexico, Brazil, and Argentina. The attributes such as rising interest and expenditure in outdoor adventure activities, cycling events held across the region, focus towards health & fitness, and government support with the aim of sustainability play a vital role in fueling the American bicycle market growth. The bicycle market in the Asia-Pacific region is rapidly growing with the number of cycling tournaments and increasing demand for bicycles by sports enthusiasts. The number of individuals opting for sports bikes has surged in recent years due to the rising awareness regarding the health benefits associated with cycling and its ease of operation in strenuous terrains in Asia-Pacific. The bicycles’ environmentally friendly nature, lower operational cost, and health benefits have bolstered their adoption in the EMEA. The governments promote bicycles in the region as they are eco-friendly and can help reduce carbon emissions. Cycling policies in the EU, the Sustainable Transport Programme in Egypt, investment strategies for developing cycling infrastructure, and incentives and purchase premiums provided for buyers boost sports bicycle adoption.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Bicycle Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Bicycle Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Bicycle Market, highlighting leading vendors and their innovative profiles. These include Accell Group N.V., Alta Cycling Group, Avon Cycles Ltd., Cerv?lo Cycles Inc., F.I.V. E. Bianchi S.p.A. by Grimaldi Industri AB, Factor Bikes, Firmstrong Bikes, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co. Ltd., Hero Cycles Limited, Huffy Corporation, Kona Bikes, Marin Mountain Bikes Inc., Merida Industry Co. Ltd., Pedego Electric Inc., Pon Holdings B.V, Pure Fix Cycles, Salsa Cycles, SCOTT Sports SA, Seven Cycles, Inc., Specialized Bicycle Components, Inc., TI Cycles India Limited, Trek Bicycle Corporation, and Yadea Group Holdings Ltd..
Market Segmentation & Coverage
This research report categorizes the Bicycle Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Cargo Bikes
- Hybrid Bikes
- Mountain Bikes
- Road Bikes
- Technology
- Conventional
- Electric
- Distribution Channel
- Offline
- Online
- End-user
- Kids
- Men
- Women
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Bicycle Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Bicycle Market?
- What are the technology trends and regulatory frameworks in the Bicycle Market?
- What is the market share of the leading vendors in the Bicycle Market?
- Which modes and strategic moves are suitable for entering the Bicycle Market?
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