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Global Bicycle Market to Reach USD 68 Billion by 2026, Driven by the Accelerated Demand for E-Bikes

According to a new report by EMR titled, 'Global Bicycle Market Report and Forecast 2021-2026', the global market for bicycle reached a value of USD 54 billion in 2020. The market is further expected to grow at a CAGR of 5.2% in the forecast period of 2021-2026 to reach a USD 68 billion by 2026.

The global market for bicycle is supported by an accelerated demand for e-bikes in the European region. This can be attributed to the supportive government laws and regulations that provide subsidies for the adoption of e-bikes within the region. In addition, various European countries like Denmark, Germany, and the Netherlands have suitable cycling infrastructure that contributes significantly to the market expansion of bicycle within the region. The Netherlands shared 20% of the overall sales of e-bikes in Europe. This can be ascribed to the significant percentage of the population that consists of the elderly. The elderly prefer e-bikes as they are a feasible option. Further, within the Asia Pacific region, the market is aided by the extension of manufacturing facilities. Due to the low cost of manufacturing within many countries of the Asia Pacific, many investors are likely to invest in this region, further promoting the market growth of bicycle.

The bicycle industry is furthering owing to the expansion by key industry players across the globe. Merida Industry Co., Ltd., a Taiwan-based company, which is mainly involved in the manufacturing, processing, and trading of bicycles. Also, the company is further involved in the trading of e-bicycles, its frames, and related components. The company manages three segments, including domestic, Asia, and Europe segment. The company penetration across these regions are expected to aid the market growth over the forecast period. Some of the other major players in the market include Santa Cruz Bicycles, LLC and Giant Group (OTC US: GGLT).

Market Analysis by Product, Price, Technology, End Use, and Region:

  • The bicycle industry, on the basis of product, is divided into mountain bicycles, hybrid bicycles, and road bicycles, among others.
  • On the basis of price, the industry is segmented into premium, mid range, and low range.
  • By technology, the industry is bifurcated into electric and conventional.
  • On the basis of end uses, the industry is categorised into men, women, and kids.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for bicycle is being driven by the growing concern for fitness across the world.
  • The rising emphasis on living a fit and healthy lifestyle is further aiding the market growth.
  • The market is accelerated by the introduction of e-bicycles. This will also help the market to have a healthy growth in the forecast period.
  • The further enhancements of e-bicycle are expected to enhance the market growth in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for bicycle for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) for the products, prices, technologies, end uses, and regional markets of bicycle. 
  • It analyses the global trade data for the global bicycle industry, looking into the value and volume of the significant importing as well as exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Giant Group, Santa Cruz Bicycles, LLC, Specialized Bicycle Components, Inc, Accell Group, Trek Bicycle Corporation, Merida Industry Co., Ltd., and Dorel Industries Inc., among others, are the key players in the global bicycle market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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