Maximize Market Research, a leading Automotive and Transportation business consultancy and research firm has published a report on the “Global Bicycle Market”. The total market opportunity for Global Bicycle Market was USD 70.49 Bn in 2023 and is expected to grow at a CAGR of 9.8 percent through the forecast period, reaching USD 135.63 Bn by 2030. As per the report, the global Global Bicycle Market is expected to be dominated by the North American and European regions to grow at a significant growth rate through the forecast period.
Global Bicycle Market Report Scope and Research Methodology
Market Size in 2023: USD 70.49 Billion
Market Size in 2030: USD 135.63 Billion
CAGR: 9.8 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 225
No. of Tables: 155
No. of Charts and Figures: 184
Segment Covered: By Product, Design, Technology, End User and Distribution Channel.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Global Bicycle Market Scope and Research Methodology
The Global bicycle market uses a bottom-up approach to calculate the industry’s size and growth, thoroughly examining the competitive landscape and market structure. Important conclusions include factors influencing regional and worldwide market growth, obstacles to further expansion, and prospective advantages brought about by advances in technology. Insights regarding market leaders, penetration, and demographic influences on the industry are obtained through regional analysis. A deeper understanding of target markets, producers, and the creation of customized advertising campaigns are made possible by the market’s segmentation into product and age groups. To examine the rivalry among market leaders and recent entrants in the global bicycle market, a competitive matrix is developed. With regard to revenue, financial standing, technological advancements, recent developments, mergers, partnerships, collaborations, and marketing strategies, the report gives a synopsis of each company.
Global Bicycle Market Overview
The Global bicycle Market manufacturing industry is evolving fast thanks to the source of power and advancement in technology. There has been immense supply of bicycles lately because people are traveling differently thereby raising health awareness among individuals while the same population also boast of their knowledge on environmental conservation matters. With an increase in consciousness about the environment, people are increasingly deciding to use bicycles rather than cars and other means of transport that also include motorcycles. Bicycles are a practical, entertaining, and environmentally friendly type of transportation these are gaining popularity among urbanites and fitness enthusiasts. Bicycle events such as the Tour de France and the Ronde van Vlaanderen helped to make bicycles use popular. The growing number of Bicycle competitions in Asia, Africa, and the Middle East is contributing as a driver in the growth of road and mountain bike sales.
Global Bicycle Market Dynamics
The Government is focusing on Building a cycling infrastructure to boost the growth of Bicycle Market because of many reasons. This make it seem that promoting cycling help towards other environmental efforts such as cutting on carbon dioxide’s quantities in the atmosphere and stopping pollution that clogs our airways besides affecting weather patterns which eventually leads into global warming. Encouraging physical activity and reducing sedentary lifestyles by investing in cycling infrastructure promotes public health. This lead to possibilities of saving on medical expenses because of illnesses linked to excess weight such as obesity or heart complications.
Global Bicycle Market Regional Insights
In the year 2023, the bicycle market was dominated by the Asia Pacific region (APAC). This part of the world has got a huge population hence constituting a larger market for bicycles especially when countries such as China and India with large populations are taken into account. The study has shown that there are more than half of the global population living in the regions of Asia around 4.3 Billion people’s this becomes a driver for the Bicycles Market Growth.
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Global Bicycle Market Segmentation
By Product:
- Mountain Bikes
- Hybrid Bikes
- Road Bikes
- Cargo Bikes
By Product, road bicycles was the most dominant category in 2023. What makes them so popular is their versatility, efficiency and preference among all levels of cyclists. These bikes are made specially for high velocity and low drag performance on smooth surfaced roads hence they work well in a transportation situation, when one wants to train by cycling such as athletes do, riding very fast or traveling over long distances. Technological advancement facilitated the production of racing bicycles constructed using light substances and streamlined shapes enhancing acceleration while cornering.
By Design:
- Folding
- Regular
By Technology:
- Electric
- Conventional
By Distribution Channel:
- Online
- Offline
Global Bicycle Market Key Competitors include:
North America
- Specialized Bicycle Components, Inc.
- Yeti Cycles
- Kent Outdoors
- Pivot Cycles
- Intense Cycles
- Diamondback Bicycles
- Matthews Bicycle
- LeMond
- A.R Bikes
Europe
- Origine Cycles
- Pierer Mobility
- Canyon Bicycles
- Brompton Bicycle
- Moustache Bikes
- Colnago
- Cross
- Econic One
- Pelago Bicycles
Asia-Pacific
- La Bicycle
- Merida Industry Co., Ltd
- Hero Cycles Ltd.
- BSA Cycles Ltd.
- KHS Bicycles
- Velotric Bike
South America
- Ossby
- Sense Bike
- Oggi Bikes
- Groove Bikes
Key questions answered in the Global Bicycle Market are:
- What segments are covered in the Global Bicycle Market report?
- Which region is expected to hold the highest Global Bicycle Market share?
- What is the market size of the Global Bicycle Market by 2030?
- What is the current growth rate of the Global Bicycle Market?
- Who are the key players in the Global Bicycle Market?
- What are the growth prospects in developing countries for the Global Bicycle Market?
- Which segment is expected to witness the fastest growth and why in the Global Bicycle Market?
- What are the factors affecting growth in the Global Bicycle Market?
- Who held the largest market share in the Global Bicycle Market?
- What are the opportunities for the Global Bicycle Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segments | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product, Sales Channel, Feature, and Age Group and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
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Automotive Manufacturing Equipment Market – The Automotive Manufacturing Equipment Market size is valued at USD 7.5 Billion in 2023 and is forecast to grow at a CAGR of 11.3% from 2024 to 2030, reaching nearly USD 15.87 Billion. The automotive manufacturing equipment market encompasses the industry involved in supplying machinery and equipment used in automobile production.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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