Bicycles are an environmentally friendly mode of transportation, with numerous variations including cargo bikes, electric bikes, and mountain bikes. Bicycles are simple to operate and are regarded as one of the safest modes of transportation. Furthermore, major cycling organizations like Go out, Tour Somewhere, Easy Rider Bike Club, and Road Soldiers Cycling Club share important motivations for increasing consumer interest in cycling. They take part in a variety of sporting events, leisure activities, cycling rallies, and competitions designed to encourage customers to ride their bicycles. Furthermore, the cycling trend is well established in Europe and North America.
Bicycle Market Report Scope and Research Methodology
The report provides a comprehensive analysis of the Bicycle market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the simple statistics, tables, and figures for strategic planning that leads to the organization’s success. The report includes a detailed analysis of the Bicycle market’s competitive landscape, as well as Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales. The bottom-up approach was used to estimate the value of the and regional Bicycle markets. The data collected using both primary and secondary research methodologies was combined to make the Bicycle market report authentic and error-free. The analyst obtained these figures from Bicycle industry experts and the company. representatives and externally validated them by analysing historical data of these product types and applications in order to obtain an accurate Bicycle market size. To define, characterize, and analyse the Bicycle market competition landscape, SWOT analysis and Porter’s Five Force Analysis are used, with a focus on key players.
Bicycle Market Overview:
Stellar Market Research provides a brief description of the Bicycle Market, as well as the most recent market snapshots. These aids understanding of its features by providing an overview of the Bicycle market that highlights standard topics. This overview assists clients in comprehending the situation in the Bicycle industry.
Bicycle Market size was valued at US$ 55.38 Billion in 2020 and the total Bicycle Market revenue is expected to grow at 7% through 2021 to 2027, reaching nearly US$ 88.93.
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Bicycle Market Regional Insights:
By providing detailed information on key players in each key country, the report assists clients in understanding the Bicycle market structure. It is a clear representation of local energy, economic, political, and geographic variables that is required for any meaningful evaluation of potential policy options in response to the development of the Bicycle market in each region. The report covers North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
Bicycle Market Dynamics:
An expanding application base for bicycles in hiking and leisure sports, combined with an increasing number of biking events, is expected to drive demand for bicycles in both well-known and sports bicycles. The growing influence of celebrity endorsement and increased media coverage for such events are expected to fuel market growth. Furthermore, numerous governing bodies in European countries, including Cycling Ireland, promote road racing, traveling and recreational biking, tune racing, and off-road racing events, which are driving bicycle market growth. According to the Irish Sports Council, for example, investments made through Sport Ireland in the direction of Cycling Ireland increased from EUR 292.
Bicycle Market Segmentation:
The road bike segment accounts for the largest revenue share of 41.1% in the bicycle market and is expected to remain dominant during the forecast period. This growth can be attributed to the fact that they are the most basic vehicles that do not require complicated accessories, such as racing, mountain or other specialty bikes. The growing trend of people customizing road bikes for specific purposes is also expected to contribute to the growth of this segment in the coming years.
Meanwhile, the mountain bike segment is also expected to grow significantly during the forecast period as consumers, especially millennials, continue to opt for mountain biking as a form of transportation. Entertainment and adventure. In addition, the number of women and children playing sports is steadily increasing and is likely to influence the growth of the segment globally. Furthermore, the establishment of new mountain bike routes along with increased media coverage of these events will further fuel the segment’s growth.
Bicycle Market Key Players:
Accell Group
Trek Bicycle Corporation
Dorel Industries Inc.
Pon Holdings BV
Giant Manufacturing Co. Ltd
Bulls
Pedego Inc.
Benno Bikes LLC
Ribble Cycles
Cervélo
Merida industry co., ltd.
Olympus bikes
Scott sports SA
Specialized bicycle components, Inc.
Kona bicycle company
Key questions answered in the Bicycle Market are:
- What is Bicycle Market?
- What are the Bicycle Market segments?
- Which Bicycle market segment is expected to grow at a high rate during the forecast period?
- Who are the top players in the Bicycle market industry?
- What is the expected Bicycle Market size by 2029?
- What was the Bicycle Market size in 2021?
- Which region is expected to grow at a high CAGR?
- Who held the largest market share in Bicycle Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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