Bicycles Global Market to Reach $101 Billion by 2030: Demand for Electric Bicycles Gains Momentum

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Global Market for Bicycles

Global Market for Bicycles

Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Bicycles: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Bicycles estimated at US$60.8 Billion in the year 2022, is projected to reach a revised size of US$101 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.

Hybrid Bicycles, one of the segments analyzed in the report, is projected to record a 8% CAGR and reach US$44.2 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Road Bicycles segment is readjusted to a revised 4.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $9.9 Billion, While China is Forecast to Grow at 8.2% CAGR

The Bicycles market in the U.S. is estimated at US$9.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$22.6 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 4.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21.8 Billion by the year 2030.

Select Competitors (Total 870 Featured) -

• Accell Group N. V.

• Currie Technologies

• Raleigh Ltd.

• Winora Staiger GmbH

• Amer Sports Corporation

• Atlas Cycles (Haryana) Ltd.

• Avon Cycles Ltd.

• Campagnolo S.r.l

• Cycleurope AB

• Dorel Industries Inc.

• Cannondale Bicycle Corporation

• Pacific Cycle Group

• Schwinn Bicycles

• Fox Factory, Inc.

• Giant

• Hamilton Industries Pvt. Ltd.

• Hero Cycles Ltd.

• Huffy Corporation

• Merida Industry Co., Ltd.

• Montague Corp.

• M S Bhogal and Sons

• Santa Cruz Bicycles

• Shimano, Inc.

• Specialized Bicycle Components, Inc.

• SRAM LLC

• Tandem Group plc

• TI Cycles of India

• Trek Bicycle Corp.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

• Global competitiveness and key competitor percentage market shares

• Market presence across multiple geographies - Strong/Active/Niche/Trivial

• Online interactive peer-to-peer collaborative bespoke updates

• Access to digital archives and Research Platform

• Complimentary updates for one year

Key Attributes:

Report Attribute	Details
No. of Pages	607
Forecast Period	2022 - 2030
Estimated Market Value (USD) in 2022	$60.8 Billion
Forecasted Market Value (USD) by 2030	$101 Billion
Compound Annual Growth Rate	6.5%
Regions Covered	Global

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights

• World Market Trajectories

• Impact of Covid-19 and a Looming Global Recession

• Pandemic Makes Bicycles Sell Like Hot Cakes: Factors Driving Boom

• Weak Economic Environment Discourages Overall Market Sentiments

• World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021

• Disruption in Public Transport Usage & Fitness Regime Patterns Drive Bicycle Mad Rush: Hammered Economy Fails to Discourage Market Prospects

• COVID-19 Impact on Key Regional Markets

• US Bicycle Market Pedals Fast to Reach High Terrains

• Europe Records Notable Jump in Bicycle Sales after Easing of COVID-19 Restrictions

• COVID-19 Pandemic Augurs Well for Indian Bicycle Industry despite Challenges

• An Introduction to Bicycle and its Components

• Bicycles-Bill of Material

• Bamboo Bicycles: Take a Ride on Your Imagination

• Bike Sharing Programs: Inculcating Interest in Cycling

• Bicycles: Biggest Innovations Ever

• Bicycles Market: A Prelude

• Global Bicycles Demand Growing at Healthy Pace

• Market Overview

• Leading Countries Bicycle Penetration Rate as a Percentage of Total Population (2019E)

• Bicycle Parts and Accessories: A Review

• Pricing of Bicycles

• Global High-End Bicycles Market (2019E): Percentage Breakdown of Revenue by Region

• Global Bicycle Market Rallies Ahead amid COVID-19 Crisis

• Spike in Bicycle Sale amid COVID-19 Leaves Supply Chain High & Dry Temporarily

• Hybrid Bicycles Gaining Ground

• Road Bicycles: Riding High on Technology Evolution

• Mountain Bike Segment Registers Rising Demand

• Growth Restraints

• Cycling in Developed and Developing Countries

• Production & Export Scenario

• Value Exports of Bicycles by Select Country (2019E)

• Competitive Landscape

• Key Players in Bicycles Supply Chain

• Bicycles Product Mix of Merida (2019)

• Bicycles Product Mix of Giant (2019)

• Bicycle Division Revenue Breakdown of Accell by Geographic Region (2019)

• Bicycle Revenue Breakdown of Accell by Segment (2019)

• Bicycle Product Mix of Accell (2019)

• Parts Division Revenue Breakdown of Accell by Geographic Region (2019)

• Parts Product Mix of Accell (2019)

• Bicycles Market for New Players: Opportunities and Challenges

• Bicycle Components Market

• Leading Players in the Global Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano and Others

• Leading Players in the Global Road Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, KMC, FSA and Others

• Leading Players in the Global Mountain Bicycle Components Market (2019): Percentage Value Breakdown of Sales for Shimano, SRAM, KMC, and Others

• Breakdown of Shimano's Bicycle Components Sales (in %) by Geographic Region (2019)

• Recent Market Activity

• Select Global Brands

• Bicycles - Global Key Competitors Percentage Market Share in 2022 (E)

• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Focus on Traffic Congestion and Environment Issues Spur Demand

• Bicycling: A Potential Solution to Global Warming

• CO2 Emissions (in Billion Tons of CO2) by Select Region/Country (2019)

• Reduction in CO2 Emissions and Energy Usage

• Rising Usage of Bikes in Urban Areas

• Demand for Electric Bicycles Gains Momentum

• World e-Bike Market (2020): Percentage Breakdown of Volume Sales by e-Bike Type for City, Touring, Mountain, Folding, and Others

• World e-Bike Market (2019): Penetration Rate (in %) for Select Countries/Region

• Definition of E-Bicycles in Select Regions

• Oil Production Nearing Saturation: Stimulus for Electric-Bicycles

• 27.5 Inches: An Emerging Standard in Mountain Bikes Segment

• Wheels Become Stronger

• Endurance Bikes: Futuristic Trend with High Potential

• Carbon Technology: Permeating at Faster Rate

• Disc Brakes to Emerge as New Standard for Road Bikes

• Tubeless Tires Gain Steady Adoption Among Road Bikes

• Fat Tires and Rims in Vogue

• Folding Bicycles Witness Healthy Growth

• Initiatives Encourage Bicycle Riding

• Novel Sophisticated Features Improve Growth Prospects

• Rising Car Ownership Rates in Developing Countries Adversely Impact Market

• Global Passenger Cars Market (2019): Breakdown of Number of Cars per 1000 People in Select Countries

• Metal Prices Pressure Manufacturers

• Transforming from Traditional Manufacturing to High-tech Industry

• Aggressive Promotions Spur Market Penetration

• Technological Advancements & Improvements

• Cyclist Safety First

• Navigation Convenience

• Bike Security

• Select Key Innovations-2019

• Innovations in Bicycles Segment in the Recent Past

• Innovative E-Bikes

• Gearing

• Electronic Shifting

• "Self-filling" Bottle

• Bicycle Seat for Elderly

• BSMART Technology

• Collision-warning Sensor

• Power Generating Bicycles

• Copenhagen Wheel

• Bike Trainer

• Innovative Products and Solutions

• Innovations in Bicycling Ecosystem

• Innovative Options for Bicycle Parking to Promote Biking

• Innovations that Address Disaster Management Plans

• Distribution Channels

• Spike in Online Sales

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/2gd3zn

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• Global Market for Bicycles

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