The US market is estimated at $9.5 billion in 2021, while China is expected to reach $16.5 billion by 2026

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DUBLIN, April 7, 2022 /PRNewswire/ — The “Bicycles – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.

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Global bicycle market to reach $78 billion by 2026

Amid COVID-19 crisis, Global Bicycles Market Estimated at US$54.7 billion in 2020, is expected to reach a revised size of 78 billion US dollars by 2026, growing at a CAGR of 6% over the analysis period.

The growing consumer trend to maintain a healthy lifestyle, technological advancements, new product launches, growing global health awareness, environmental benefits of cycling, rising fuel/energy prices and Government initiatives are the major factors driving the demand in the market. The initiatives taken by the governments of various countries in terms of establishing the necessary infrastructure and the growing number of cycling events are also driving the demand for various types of bicycles.

The popularity of e-bikes is increasing day by day, boosted by the launch of a range of e-bike styles and models. The pandemic is expected to cause a long-term shift in consumer preferences and significantly benefit the market in years to come. The bicycle industry saw a noticeable increase in sales as people avoided using public transport due to the risk of infection.

Hybrid bikes, one of the segments analyzed in the report, is expected to register a CAGR of 7.6% and reach US$34.7 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the road bike segment is readjusted to a revised CAGR of 4.4% for the next 7-year period.

The US market is estimated at $9.5 billion in 2021, when China is expected to reach $16.5 billion by 2026

The bicycle market in the United States is estimated at US$9.5 billion in the year 2021. Chinathe second largest economy in the world, is expected to reach a projected market size of US$16.5 billion by 2026 with a CAGR of 7.7% over the analysis period. Other notable geographic markets include Japan and Canadaeach predicting growth of 4% and 4.4% respectively over the analysis period.

In Europe, Germany is expected to grow at around 4.6% CAGR. Cross-country cycling is very popular in the United States and many new bike paths are being developed to cater to this segment. The popularity of mountain bikes also reflects this trend. While older users tend to use bicycles, especially e-bikes as local transportation, younger people use bicycles for recreational purposes such as cross-country cycling.

Bicycles are the most affordable means of transport and are therefore popular in developing countries. The congestion, affordability and easy maneuverability of the bikes make Japan a major market.

Mountain bike segment to reach $11.9 billion by 2026

A mountain bike or mountain bike, also known as a mountain bike or all-terrain bicycle (ATB), is a bicycle designed for off-road cycling. The wheels used in mountain bikes are designed wide and knobby for shock absorption and good traction on rough terrain.

The popularity of mountain bikes can be attributed to two main factors. The first is the inclusion of mountain biking in the Olympics since 1996. The second reason is the promotion of mountain biking by the ski resort industry.

In the global mountain bike segment, UNITED STATES, Canada, Japan, China and Europe will drive the CAGR of 6% estimated for this segment. These regional markets representing a combined market size of US$6 billion in the year 2020 will reach a projected size of 9 billion US dollars at the end of the analysis period.

China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$2.4 billion by 2026, while Latin America will grow at a CAGR of 6.2% over the analysis period.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Overview of the influencer market

  • Global Market Trajectories

  • Impact of Covid-19 and a looming global recession

  • Pandemic Makes Bikes Sell Like Hot Cakes: The Factors Driving the Boom

  • Weak economic environment dampens overall market sentiment

  • Disruption in public transport use and fitness regimen patterns leads to a mad dash on the bike: hammered economy fails to deter market outlook

  • Impact of COVID-19 on key regional markets

  • The U.S. bike market pedals fast to reach high ground

  • Europe sees notable increase in bike sales after COVID-19 restrictions eased

  • COVID-19 pandemic bodes well for India’s bicycle industry despite challenges

  • An introduction to the bicycle and its components

  • Bikes-Bill of Material

  • Bamboo bikes: let your imagination run wild

  • Bike Share Programs: Instilling Interest in Cycling

  • Bicycles: the greatest innovations of all time

  • Bicycle market: a prelude

  • Global demand for bicycles is growing at a healthy pace

  • Market overview

  • Bike Parts & Accessories: A Review

  • Bike prices

  • Global bicycle market recovers amid COVID-19 crisis

  • Soaring bike sales amid COVID-19 temporarily leaves supply chain high and dry

  • Hybrid bikes are gaining ground

  • Road bikes: riding high on technological evolution

  • The mountain bike segment sees growing demand

  • Growth constraints

  • Cycling in developed and developing countries

  • Production and export scenario

  • Bicycle export value by selected country (2019E)

  • Competitive landscape

  • Key players in the bicycle supply chain

  • Bicycle Market for New Players: Opportunities and Challenges

  • bicycle components market

  • Recent market activity

  • Select global brands

2. FOCUS ON CERTAIN PLAYERS (Total 870 featured)

  • Accell Group SA

  • 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 Company

  • Pacific Cycle Group

  • Schwinn Bikes

  • Fox Factory, Inc.

  • Giant

  • Hamilton Industries Pvt. ltd.

  • Hero Cycles Ltd.

  • Huffy Company

  • Merida Industry Co., Ltd.

  • Montague Corp.

  • MS Bhogal and Sons

  • Santa Cruz Bikes

  • Shimano, Inc.

  • Specialty Bike Components, Inc.

  • SRAM LLC

  • Tandem Group plc

  • IT Cycles India

  • Trek Bicycle Corp.

3. MARKET TRENDS AND DRIVERS

  • Growing attention to traffic congestion and environmental issues is driving demand

  • Cycling: a potential solution to global warming

  • Reduced CO2 emissions and energy consumption

  • Growing use of bicycles in Urban areas

  • Demand for e-bikes is growing

  • Definition of e-bikes in certain regions

  • Oil production is approaching saturation: stimulus for electric bikes

  • 27.5 inches: an emerging standard in the mountain bike segment

  • The wheels get stronger

  • Endurance bikes: futuristic trend with great potential

  • Carbon technology: impregnation at a faster rate

  • Disc brakes are set to become the new standard for road bikes

  • Tubeless tires are increasingly adopted by road bikes

  • Big tires and rims in vogue

  • Folding bikes show healthy growth

  • Initiatives encourage cycling

  • Sophisticated new features improve growth prospects

  • Rising car ownership rates in developing countries are negatively impacting the market

  • Metal Prices Pressure Manufacturers

  • Moving from traditional manufacturing to high-tech industry

  • Aggressive promotions drive market penetration

  • Technological Advances and Improvements

  • Cyclist safety first

  • Convenience of navigation

  • Bike safety

  • Innovations in the bicycle segment in the recent past

  • Innovative electric bikes

  • Gear

  • Electronic gear change

  • “Self-filling” bottle

  • Bicycle seat for the elderly

  • BSMART Technology

  • Collision warning sensor

  • Energy-generating bicycles

  • Copenhagen wheel

  • bike trainer

  • Innovative products and solutions

  • Innovations in the bicycle ecosystem

  • Innovative options for bicycle parking to promote cycling

  • Innovations that respond to disaster management plans

  • Distribution channels

  • Online sales spike

4. GLOBAL MARKET OUTLOOK

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information on this report visit https://www.researchandmarkets.com/r/3yjwho

Media Contact:

Research and Markets
Laura Woodsenior
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