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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).
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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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