LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global bicycle market is expected to accelerate at a CAGR of almost 4% during the forecast period. The growing adoption of bicycles due to increasing fuel prices is one of the key factors triggering the growth of the market.
This research report titled ‘Global Bicycle Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global bicycle market into the following products:
- On-road and track bikes
- Off-road bikes
- X-road and hybrid bikes
In 2017, the on-road and track bikes segment accounted for 46.91% of the global market and is projected to reach 47.12% by 2022, exhibiting almost 0.21% increase in market share. While the off-road bikes segment is expected to display a slight decline in market share, the x-road and hybrid bikes segment is anticipated to exhibit the highest increase in market share over the next four years.
Global bicycle market: Top emerging trend
Technological advances in bicycles industry is an emerging trend in the bicycle market. The bicycle companies in the market are launching innovative bicycles and accessories, which will lead to a significant market growth. Technological developments have been witnessed in bicycle lights because these lights increase the visibility range of the riders, enhancing safety. For instance, Helios launched handlebars with built-in LED headlights that can be fitted to any bicycle. Such innovative use of LED in handles and pedals are some of the features that are expected to drive the market during the forecast period. Moreover, the introduction of laser in front light helps in projecting 15 meters down the road to alert the cyclists, thereby increasing safety. The laser light is preferred over normal lights as it provides 300 lumens of brightness.
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Technavio’s report provides expert market research on the following topics:
Executive Report
- Market Outline
- Global Bicycle Market Overview
Market Insights
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by product (on-road and track bikes, off-road bikes, and x-road and hybrid bikes)
- Market segmentation by end-user (adults and children)
Vendor Landscape
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Accell Group, Dorel Industries, Giant Bicycle, GUANGDONG TANDEM INDUSTRIES, Insera Sena, and MERIDA)
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