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Opportunities for The Global Bicycle Market to Reach $59.9 Billion by 2025

pxid 2020-12-02 216 times

DALLAS, TX / ACCESSWIRE / November 39, 2020 / According to a new market report published by Lucintel, the future of the global bicycle market looks good with opportunities in the segments of e-bikes, road, and mountain terrain bike (MTB), and kids' bicycles. The global bicycle market is expected increase in 2020 due to growing health concern and government subsidies led by the COVID-19 outbreak. The market is expected to reach an estimated $59.9 billion by 2025 and is forecast to grow at a CAGR of 8% to 10% from 2020 to 2025. The major drivers of growth for this market are increasing fitness consciousness among people, increasing environmental concerns, increasing traffic congestion, and government programs to promote cycling.

In this market, road, mountain, kids, electric bikes, and other bicycles are the segments by bicycle type. Lucintel forecasts that the mountain bicycle segment is expected to remain the largest segment by value due to increasing demand for these bicycles for leisure purposes. On the basis of its comprehensive research, Lucintel predicts that the demand for electric bicycle is likely to experience the highest growth in the forecast period due to increasing government initiatives to promote cycling in order to reduce carbon emissions.

Asia Pacific is expected to remain the largest region by volume during forecast period supported by huge population and increasing usage of bicycle as a sustainable mode of transportation.

Europe is expected to witness the highest growth by value over the forecast period driven by growing popularity of e-bicycles as an environmental friendly means of transportation and government initiatives to promote sustainable transportation.

For business expansion, the report suggests new product development to enhance the performance of bicycles by making them more lightweight and comfortable. The report further suggests the development of partnerships with customers to create win-win situations and the development of performance-driven solutions for end users.

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of folding electric bicycles and increasing the demand custom fit bicycles. Giant Manufacturing Co. Ltd., Accell Group N.V, Merida Industries Co. Ltd., and Dorel Industries Inc. are among the major suppliers of bicycles.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bicycle industry by bicycle type, region and country and has come up with a comprehensive research report entitled, "Growth Opportunities in the Global Bicycle Market 2014-2025: Trends, Forecast, and Opportunity Analysis" The Lucintel report serves as a springboard for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.

Opportunities for The Global Bicycle Market to Reach $59.9 Billion by 2025

The study includes a forecast for the global bicycle market by bicycle type, region and country as follows:

Bicycle market by bicycle type (Value $ Million and Volume Units from 2014 to 2025):

  • Road/Standard Bicycle
  • MTB/Racing Bicycle
  • Kids Bicycle
  • E-bikes
  • Others

Bicycle market by region (Value $ Million and Volume Units from 2014 to 2025):

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

Bicycle market by country (Value $ Million and Volume Units from 2014 to 2025):

  • United States
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Canada
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Germany
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • United Kingdom
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Spain
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Italy
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • France
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • China
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Japan
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • India
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • South Korea
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Australia
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others
  • Brazil
      • Road/Standard Bicycle
      • MTB/Racing Bicycle
      • Kids Bicycle
      • E-bikes
      • Others

This 169-page research report will enable you to make confident business decisions in this globally competitive marketplace.

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