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Global Bicycle Market Share, Size, Groth, Trends, Outlook, Forecast: By Product: Mountain Bicycles, Hybrid Bicycles, Road Bicycles, Others; By Price: Premium, Mid-Range, Low Range; By Technology: Electric, Conventional; By End User: Men, Women, Kids; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2023-2028
Global Bicycle Market Outlook
The global bicycle market attain a value of USD 56.99 billion in 2022. The market is expected to grow at a CAGR of 6.5% in the forecast period of 2023-2028 to reach a value of USD 83.16 billion by 2028.
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The global bicycle market is stimulated by the rising urbanisation, due to which there is growing traffic congestion. Therefore, people are increasingly adopting bicycles to avoid traffic jams and get to their destination faster as compared to bigger vehicles. With the rising traffic jams, the market for bicycles is expected to increase during the forecast period.
Growing Demand for Bicycles from the Asia Pacific to Enhance the Global Bicycle Market
The Asia Pacific region is actively supporting the growth of the global bicycle market as the regional market is growing at a robust pace. Countries such as China, India, Australia, Japan, and South Korea are the significant contributors to the market growth. These countries have started hosting several tournaments, which are expected to enhance the popularity and demand for sports bicycles. Moreover, factors, such as an increase in the women’s participation rate and favourable government schemes, are expected to strengthen the market growth of bicycles in the region. As a result of increased demand, the market is witnessing industry development of innovative bicycles and accessories, which will further the industry growth in the forecast period.
Bicycle: Market Segmentation
Bicycle is a vehicle that aids in reducing pollution and is extensively promoted by organisations as an environment-friendly transport.
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On the basis of product, the market is divided into:
- Mountain Bicycles
- Hybrid Bicycles
- Road Bicycles
- Others
By price, the market is segmented into:
- Premium
- Mid-Range
- Low Range
Based on technology, the market is bifurcated into:
- Electric
- Conventional
By end user, the market is segmented into:
- Men
- Women
- Kids
Based on technology, the industry is bifurcated into electric and conventional. By end uses, the industry is segmented into men, women, and kids. The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Awareness About Fitness is Enhancing the Global Bicycle Market Growth
The global bicycle market is driven by the rising awareness as well as concern about fitness, resulting in the boom of bicycle sales as they offer a great alternative for transport with the benefit of fit and healthy lifestyle. The industry is further expected to be driven by the introduction of e-bicycles. The demand for e-bicycles is gaining momentum and is expected to become mainstream in the forecast period. The e-bicycles are equipped to manage the overall speeds more effectively, as a result providing comfortable driving experience to the rider in mountain areas, overpasses, and tough roads. Thereby further enhancing the market growth for the product.
Key Industry Players in the Global Bicycle Market
The report gives a detailed analysis of the following key players in the global bicycle market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Accell Group
- Cycling Sports Group, LLC
- Avon Cycles Limited
- Giant Bicycles
- Merida Industry Co., Ltd.
- SCOTT Sports SA
- Trek Bicycle Corporation
- Hero Cycles
- Santa Cruz Bicycles, LLC
- Marin Mountain Bikes Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Price |
|
| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Bicycle Market Analysis
8.1 Key Industry Highlights
8.2 Global Bicycle Historical Market (2018-2022)
8.3 Global Bicycle Market Forecast (2023-2028)
8.4 Global Bicycle Market by Product
8.4.1 Mountain Bicycles
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Hybrid Bicycles
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Road Bicycles
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Bicycle Market by Price
8.5.1 Premium
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Mid-Range
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Low Range
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.6 Global Bicycle Market by Technology
8.6.1 Electric
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Conventional
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Bicycle Market by End User
8.7.1 Men
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Women
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Kids
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.8 Global Bicycle Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Bicycle Market Analysis
9.1 Market by Product
9.2 Market by Technology
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2022)
9.3.1.2 Forecast Trend (2023-2028)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2022)
9.3.2.2 Forecast Trend (2023-2028)
10 Europe Bicycle Market Analysis
10.1 Market by Product
10.2 Market by Technology
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2022)
10.3.1.2 Forecast Trend (2023-2028)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2022)
10.3.2.2 Forecast Trend (2023-2028)
10.3.3 France
10.3.3.1 Historical Trend (2018-2022)
10.3.3.2 Forecast Trend (2023-2028)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2022)
10.3.4.2 Forecast Trend (2023-2028)
10.3.5 Others
11 Asia Pacific Bicycle Market Analysis
11.1 Market by Product
11.2 Market by Technology
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2022)
11.3.1.2 Forecast Trend (2023-2028)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2022)
11.3.2.2 Forecast Trend (2023-2028)
11.3.3 India
11.3.3.1 Historical Trend (2018-2022)
11.3.3.2 Forecast Trend (2023-2028)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2022)
11.3.4.2 Forecast Trend (2023-2028)
11.3.5 South Korea
11.3.5.1 Historical Trend (2018-2022)
11.3.5.2 Forecast Trend (2023-2028)
11.3.6 Australia
11.3.6.1 Historical Trend (2018-2022)
11.3.6.2 Forecast Trend (2023-2028)
11.3.7 Others
12 Latin America Bicycle Market Analysis
12.1 Market by Product
12.2 Market by Technology
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2022)
12.3.1.2 Forecast Trend (2023-2028)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2022)
12.3.2.2 Forecast Trend (2023-2028)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2022)
12.3.3.2 Forecast Trend (2023-2028)
12.3.4 Others
13 Middle East and Africa Bicycle Market Analysis
13.1 Market by Product
13.2 Market by Technology
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2022)
13.3.1.2 Forecast Trend (2023-2028)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2022)
13.3.2.2 Forecast Trend (2023-2028)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2022)
13.3.3.2 Forecast Trend (2023-2028)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2022)
13.3.4.2 Forecast Trend (2023-2028)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Accell Group
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Cycling Sports Group, LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Avon Cycles Limited
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Giant Bicycles
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Merida Industry Co., Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 SCOTT Sports SA
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Trek Bicycle Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Hero Cycles
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Santa Cruz Bicycles, LLC
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Marin Mountain Bikes Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Bicycle Market: Key Industry Highlights, 2018 and 2028
2. Global Bicycle Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Bicycle Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Bicycle Historical Market: Breakup by Price (USD Million), 2018-2022
5. Global Bicycle Market Forecast: Breakup by Price (USD Million), 2023-2028
6. Global Bicycle Historical Market: Breakup by Technology (USD Million), 2018-2022
7. Global Bicycle Market Forecast: Breakup by Technology (USD Million), 2023-2028
8. Global Bicycle Historical Market: Breakup by End User (USD Million), 2018-2022
9. Global Bicycle Market Forecast: Breakup by End User (USD Million), 2023-2028
10. Global Bicycle Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Bicycle Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Bicycle Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Bicycle Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Bicycle Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Bicycle Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Bicycle Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Bicycle Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Bicycle Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Bicycle Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Bicycle Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Bicycle Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Bicycle Market Structure
Key Questions Answered in the Report
In 2022, the global bicycle market attained a value of nearly USD 56.99 billion.
The market is projected to grow at a CAGR of 6.5% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 83.16 billion by 2028.
The major drivers of the industry, such as rising disposable incomes, rapid urbanisation, growing population, rising traffic congestion, growing fitness awareness, and rising biking competitions, are expected to aid the market growth.
The key trends guiding the growth of the bicycle market include the rising launch and adoption of e-bicycles.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading products in the market are mountain bicycles, hybrid bicycles, and road bicycles, among others.
The major price segments of the product in the industry are premium, mid-range, and low range.
The significant end uses in the industry are men, women, and kids.
The major players in the industry are Accell Group, Cycling Sports Group, LLC, Avon Cycles Limited, Giant Bicycles, Merida Industry Co., Ltd., SCOTT Sports SA, Trek Bicycle Corporation, Hero Cycles, Santa Cruz Bicycles, LLC, and Marin Mountain Bikes Inc., among others.
Analyst Review
The global bicycle market attained a value of USD 56.99 billion in 2022, driven by the rising occurrences of traffic congestions. Aided by the growing adoption of e-bicycles, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.5%. The bicycle market is projected to reach USD 83.16 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on product, the market is segmented into mountain bicycles, hybrid bicycles, and road bicycles, among others. On the basis of price, the market is segmented into premium, mid range, and low range. By technology, the market is categorised into electric and conventional. Based on end users, the market is divided into men, women, and kids. The major regional markets for bicycle are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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