Bicycle Market Industry Analysis, Size, Share, Growth Factors, and forecast 2029
Bicycles are an environmentally benign mode of transportation, with numerous types including cargo bikes, electric bikes and mountain bikes. Bicycles are simple to operate and are regarded as one of the safest modes of transportation. Furthermore, significant cycling organisations like Go out, Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club share important motives for increasing consumer interest in cycling. They take part in a range of sporting events, leisure activities, cycling rallies, and competitions designed to encourage customers to ride their bicycles. Furthermore, the cycling trend is widely established in Europe and North America. This is because most events, like as the Tour de France and LoToJa, are hosted in these places.
Bicycle Market Report Scope and Research Methodology:
The report's main goal is to provide a comprehensive assessment of the Bicycle market, which includes major leading stakeholders in the Bicycle industry. The assessment clearly demonstrates the anticipated market size and trends, as well as the Bicycle market's historical and current situation.The study includes revenue, market share, production, and sales data for the Bicycle market. In addition, the research provides Bicycle market segment trends, investment, and technology, as well as the competition landscape. It also covers an examination of regional and market segmentation, application areas, and market growth strategies. An in-depth research of market segmentation aids in determining current market potential, and the primary segments of the Bicycle markets are further subdivided.
The research analyses the Bicycle market qualitatively and quantitatively from 2022 to 2029 in order to identify the current market opportunities. Porter's five forces research illustrates the ability of Bicycle industry suppliers and buyers to make profit-oriented business decisions and expand their buyer-supplier network. The Bicycle market analysis provides unique guidance in thoughtful specifics regarding development aspects, and it was created using a top-down and bottom-up method to ensure accuracy and precision. SMEs professional analysts collected data for the Bicycle market study using extensive primary and secondary research approaches.
Bicycle Market Overview:
The research goes into detail about the Bicycle Market's drivers, constraints, technological advancements, product developments, market opportunities, restrictions, growth strategies, and market prospects, as well as the forecast period. The research provides an in-depth examination of the Bicycle industry, providing key information such as Bicycle market size, market share, revenue growth, and CAGR from 2020 to 2029.
Bicycle Market size was valued at US$ 63.40 Billion in 2022 and the total Bicycle Market revenue is expected to grow at 7% through 2023 to 2029, reaching nearly US$ 101.81.
Bicycle Market Dynamics:
An expanding application base for bicycles in hiking and leisure sports, combined with an increasing number of riding events, is expected to drive demand for bicycles in both well-known and sports bicycles. The growing influence of celebrity endorsement and increased media coverage for such events are expected to fuel industry growth. Furthermore, several governing organisations in European countries, including Cycling Ireland, promote road racing, touring and recreational biking, tune racing, and off-road racing events, which are promoting bicycle market growth. According to the Irish Sports Council, investments provided through Sport Ireland in the direction of Cycling Ireland increased from EUR 292.five thousand in 2015 to EUR 440 thousand in 2019, indicating the
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Bicycle Market Regional Insights:
Major countries in each region are included in the report according to their revenue contribution to the Bicycle market. The study includes a region-wise detailed analysis of the Bicycle market. The regions are:
- North America
- Asia Pacific
- Europe
- Latin America
- the Middle East, and Africa
Bicycle Market Segmentation:
The road bike segment has the highest revenue share in the bicycle market (41.1%) and is likely to remain dominant during the forecast period. This development can be due to the fact that they are the most basic vehicles, requiring no complicated equipment, as opposed to racing, mountain, or other speciality bikes. In the coming years, the growing tendency of people customising road bikes for specific purposes is projected to add to the expansion of this market.
Meanwhile, the mountain bike segment is predicted to expand significantly throughout the projection period as customers, particularly millennials, continue to favour mountain biking as a mode of transportation. Adventure and entertainment. Furthermore, the number of women and children participating in sports is gradually increasing, which is anticipated to influence the segment's global growth. Furthermore, the development of new mountain bike routes, as well as greater media coverage of these events, will fuel the segment's expansion.
Bicycle Market Key Players:
Accell Group
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Bulls
Pedego Inc.
Benno Bikes LLC
Ribble Cycles
Cervélo
Merida industry co., ltd.
Olympus bikes
Scott sports SA
Specialized bicycle components, Inc.
Kona bicycle company
Key Questions answered in the Bicycle Market Report are:
- What are the sales, production, consumption, and import and export of Bicycle globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Bicycle Industry on a worldwide scale?
- What is the state of business of Bicycle market players?
- What are the market opportunities and restraints for Bicycle suppliers in the Bicycle industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each types and applications Bicycle market share?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent Players
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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