DUBLIN--(BUSINESS WIRE)--The "Global Bicycle Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global bicycle market was evaluated at US$51.262 billion for the year 2019 and is expected to grow at a CAGR of 6.98% and reach US$76.845 billion by the year 2025.
The global cycle market is projected to show a healthy growth throughout the course of the next five years primarily on account of the increasing consumer preference towards a healthy living lifestyle. Furthermore, there has been an increasing adoption of bicycles in both developed and developing economies owing to the fact the majority of the people are opting for cycling as their daily routine activity and as a form of leisure.
The market is also being driven on account of the growing prevalence of chronic diseases such as CVDs, obesity, and diabetes among others which is further augmenting the demand for bicycles among the people suffering from these diseases to stay healthy and fit. The recent outbreak of novel coronavirus is also expected to boost the sales of bicycles in many parts of the world as several restrictions have been imposed by the governments across the country such as social distancing and lockdowns among others.
This further led to a closure of gyms, parks, and other public places, which in turn led to an upsurge in the demand for cycles by fitness maniacs. The constantly growing penetration of electric bicycles is further widening up the business opportunities for the market players to tap the growing market potential. Also, the growing penetration of bicycle-sharing services and an increase in the number of online platforms in various countries that offer dockless bicycle-sharing systems is further fuelling the market growth throughout the forecast period.
Participation by market players
The global bicycle market is also being driven by the fact that players in the market are actively taking part in the market in the form of product launches, partnerships, and campaigns to promote the use of bicycles. Thus, all the factors mentioned above are collectively contributing to the positive growth of the market during the next five years.
For instance, recently in August 2020, Fuji cycles a well-known brand of bicycles and equipment based out of the United States announced the launch of its latest BIG.TRAIL mountain bike with 140 mm fork travel, 29er tires of up to 2.5", a long dropper post, and ample fixing points. Similarly, during the same month, the company also announced its REACTO comfort riding a bicycle.
Furthermore, in June 2020, Hero Cycles, one of India's leading bicycle manufacturers announced its partnership with Muthoot Microfin, one of the leading microfinance companies of India with an aim to provide bicycles to lower-income households and micro-entrepreneurs, especially women, in South India.
Similarly, during the same month, the company launched a campaign, "Road Pe Dikhegi Tabhi To Chalegi" to urge the governments across the country to transform the infrastructure and promote cycling throughout the country as people are opting more for safe and reliable transport solutions after lockdown restrictions being lifted which further led to an upsurge in the demand for cycles throughout the country.
Competitive Insights
Prominent/major key market players in the global bicycle market include Giant Manufacturing Co. Ltd., Trek Bicycle Corporation, Hero Cycles Limited, Dorel Industries Inc., TI Cycles, and Fuji Bikes among others.
The players in the global bicycle market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive position and strategies and the report also mentions recent deals and investments of different market players over the last few years.
The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global bicycle market.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Bicycle Market Analysis, by Type
5.1. Introduction
5.2. Mountain
5.3. Road
5.4. Hybrid
5.5. Others
6. Global Bicycle Market Analysis, by End-User
6.1. Introduction
6.2. Men
6.3. Women
6.4. Kids
7. Global Bicycle Market Analysis, by Technology
7.1. Introduction
7.2. Conventional
7.3. Electric
8. Global Bicycle Market Analysis, by Distribution Channel
8.1. Introduction
8.2. Online
8.3. Offline
9. Global Bicycle Market Analysis, by Geography
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Giant Manufacturing Co. Ltd.
11.2. Trek Bicycle Corporation
11.3. Hero Cycles Limited
11.4. Scott Sports SA
11.5. Dorel Industries Inc.
11.6. Merida Industry Co., Ltd
11.7. Cervelo
11.8. TI Cycles
11.9. Atlas Cycles(Haryana) Ltd
11.10. Fuji Bikes
11.11. Accell Group N.V.
11.12. Olympus Bikes
11.13. Tandem Group plc
11.14. Derby Cycle AG
11.15. Cube Bikes
For more information about this report visit https://www.researchandmarkets.com/r/wszry5
