LONDON--(BUSINESS WIRE)--The global bicycle market size is poised to grow by USD 10.5 billion during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The health, environmental, and economic benefits of cycling will be a significant factor driving the growth of the bicycle market. Regular physical activity such as riding a bicycle can help in reducing the risk of various health issues, including cardiovascular diseases, obesity, mental illness, cancer, diabetes, and arthritis. Cycling also helps in reducing and controlling weight by building muscle and burning body fat. Bicycles are highly economical and do not involve fuel, insurance, and maintenance costs. Moreover, bicycles are environmentally sustainable and do not contribute to air pollution, noise pollution, and GCG emissions. These benefits of bicycles will boost its adoption among end-users and consequently fuel the growth of the market during the forecast period.
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Report Highlights:
- The major bicycle market growth came from the on-road and track bicycles segment. On-road bicycles offer high comfort, which makes it ideal for traveling long distances while touring cities. Track bicycles are optimized for racing on outdoor tracks or velodromes. Hence, with the growth in cycling tourism and velodrome events, the demand for on-road and track bicycles will also grow during the forecast period. However, market growth in this segment will be slower than the growth of the market in the x-road and hybrid bicycles segment.
- APAC was the largest market for bicycles in 2019, and the region will offer the maximum growth opportunities to market vendors during the forecast period. The increasing health consciousness, growing environmental concerns regarding CO2 emissions, rising urbanization and traffic congestion, and growing use for personal transportation will fuel the bicycle market growth in this region.
- The global bicycle market is fragmented. Accell Group NV, Atlas Cycles (Haryana) 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, and Trek Bicycle Corp. are some of the major market participants. To help clients improve their market position, this bicycle market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global bicycle market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Increase in Demand for Titanium-based Bicycles will be a Key Market Trend
The high tensile strength, inherent flexibility, and low elastic modulus of titanium make it ideal for use in bicycle frames. The natural coating of titanium oxide on titanium-based bicycles prevents the formation of rust and retains its performance quality and aesthetics even when exposed to alkaline or acidic environments. The demand for titanium-based bicycles is increasing, especially from professional riders who participate in racing competitions. The rising demand for titanium-based bicycles, which is one of the critical bicycle market trends, will positively influence the growth of the market during the forecast period.
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Bicycle Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist bicycle market growth during the next five years
- Estimation of the bicycle market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the bicycle market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of bicycle market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market Outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 07: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- On-road and track bicycles - Market size and forecast 2019-2024
- Off-road bicycles - Market size and forecast 2019-2024
- X-road and hybrid bicycles - Market size and forecast 2019-2024
- Market opportunity by product
PART 08: CUSTOMER LANDSCAPE
PART 09: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Adults - Market size and forecast 2019-2024
- Children - Market size and forecast 2019-2024
- Market opportunity by end-user
PART 10: MARKET SEGMENTATION BY PROPULSION
- Market segmentation by propulsion
- Comparison by propulsion
- Manual bicycles - Market size and forecast 2019-2024
- Motor-assisted bicycles - Market size and forecast 2019-2024
- Market opportunity by propulsion
PART 11: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 12: DECISION FRAMEWORK
PART 13: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 14: MARKET TRENDS
- Increasing popularity of bicycle rental services
- Increase in demand for titanium-based bicycles
- Emergence of foldable bicycles
PART 15: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 16: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Accell Group NV
- Atlas Cycles (Haryana) 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.
PART 17: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 18: EXPLORE TECHNAVIO
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