Global Bikes/Bicycles Market Size, Trends, and Growth Opportunity, By Type (Hybrid Bikes, Road Bikes, Cargo Bikes, Mountain Bikes [Cross Country Bikes, Trail Mountain Bikes, Downhill Bikes, All Mountain Bikes, Dirt Jumping Bikes, Freeride Bikes, Others]), By Application (Leisure, Competition), By Technology (Electric, Conventional, Road, Triathlon, Gravel, Hybrid, Youth, All Terrain Bicycle), By Region and forecast till 2027.
Global Bikes/Bicycles Market
The Global Bikes/Bicycles Market is valued at USD 60 Billion in 2021 and is slated to reach USD 84 Billion by 2027 at a CAGR of 4.8% from 2022-2027.
The bicycle, which comes in a variety of styles including cargo bikes, electric bikes, and mountain bikes, is an environmentally beneficial way of transportation. Due to its simplicity, cycling is one of the safest modes of transportation. Major bicycle organizations include Road Soldiers, Easy Rider Cycle Club, and Get Out and Tour Someplace. The Cycling Club's main objective is to stimulate consumers' interest in cycling. In order to encourage people to ride bicycles, they hold a lot of sporting events, entertainment activities, bike rallies, and competitions. Also, bicycle sports are becoming more and more well-liked in both North America and Europe.
Market Drivers
People's growing awareness of the value of maintaining a healthy lifestyle and being physically active is a major factor driving the bicycle market's expansion. They have also begun to understand the benefits of frequent cycling in preventing diseases like obesity. As more and more individuals turn to cycle as a regular method of exercise, the market is set to expand. People are starting to think of short-distance bicycle commuting as a time-saving option due to the increasing traffic congestion and lack of parking, particularly in metropolitan areas. In addition, a number of governments are actively building the infrastructure required to enable bicycle commuting, which is influencing individuals to choose bicycles. Bicycling has also become a popular sport and leisure activity in recent decades, particularly among women, despite the fact that it has traditionally been a practical form of transportation. Traditional women's bicycles currently dominate the global market in terms of technology.
As a result of competitions like the Tour de France and the Ronde van Vlaanderen, bicycles are becoming more and more common. An upsurge in cycling events that are being staged in several countries around Asia, Africa, and the Middle East is boosting sales of road and mountain cycles.
Market Restraints
The market's expansion is expected to be hampered by the impending lack of the infrastructure required to support and promote bicycle commuting, particularly in developing nations like India. Similarly, lightweight bicycles built of composite materials are pricey, which does not augur well for market expansion. However, cycling in unfavorable weather conditions is unsafe, which limits the use of bicycles. The availability of alternatives to e-bikes for transportation, such as motorcycles, scooters, and other micro-mobility options, is likely to restrain market expansion. It can be a drawback for people who need to go at higher speeds that electric bicycles often have a low top speed (up to 25 km/h in India). Also, because of its restricted range, users of e-bikes frequently worry that they will run out of power before getting to their destination, which would restrain the market's expansion.
Impact of COVID-19
Several markets have been negatively impacted by the pandemic's spread. Due to shut-down manufacturing facilities and a disrupted supply chain, this sector also experienced an initial downturn. However, following a period of slowdown, the bicycle sector experienced a boom in the second half of 2020 as a result of an unexpected increase in cycling demand. As a result of the COVID-19 outbreak and the multiple governments actively pushing bicycles as one of the safest forms of transportation that allow people to maintain social distancing, the industry is expected to grow in the next years. Also, during the pandemic, governments in significant countries like the UK and Italy are providing subsidies for the purchase of new bicycles. Because of this, the government's programs and subsidies, together with the public's rising awareness of the benefits bicycles provide, augur well for the market's growth in the years to come.
Market Segmentation
The Global Bikes/Bicycles Market is segmented into Type, Application, and Technology. Based on the types, the market is segmented as Hybrid Bikes, Road Bikes, Cargo Bikes, and Mountain Bikes [Cross Country Bikes, Trail Mountain Bikes, Downhill Bikes, All Mountain Bikes, Dirt Jumping Bikes, Freeride Bikes, and Others]. Based on applications, it is segmented as Leisure, Competition. Based on technology, it is segmented as Electric, Conventional, Road, Triathlon, Gravel, Hybrid, Youth, All Terrain Bicycles.
Regional Analysis
The Global Bikes/Bicycles Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. In 2022, Asia Pacific eclipsed all other regions in terms of revenue share, becoming the dominating one. Building the infrastructure necessary to encourage and support bicycle commuting is a top priority in China, Japan, and Singapore. Europe is predicted to increase at the fastest pace, 11.1%, during the projected period. Europe is home to several cities that are rated ideal for bicycle commuting. The Tour de France and Ronde van Vlaanderen, two of the most well-known cycling competitions, are also held throughout Europe. The infrastructure for bicycle commuting is being intensively built by Belgium, Denmark, France, and Italy, and they are significantly boosting the local market.
Key Players
This report includes a list of numerous Key Players, namely Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA, Trek Bicycle Corporation.
Market Taxonomy
By Type
• Hybrid Bikes
• Road Bikes
• Cargo Bikes
• Mountain Bikes
o Cross Country Bikes
o Trail Mountain Bikes
o Downhill Bikes
o All Mountain Bikes
o Dirt Jumping Bikes
o Freeride Bikes
o Others
By Application
• Leisure
• Competition
By Technology
• Electric
• Conventional
• Road
• Triathlon
• Gravel
• Hybrid
• Youth
• All Terrain Bicycle
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Bikes/Bicycles Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Bikes/Bicycles Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Bikes/Bicycles Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Bikes/Bicycles Market Share Analysis, By Type
5.3 Global Bikes/Bicycles Market Size and Forecast, By Type
5.3.1 Hybrid Bikes
5.3.2 Road Bikes
5.3.3 Cargo Bikes
5.3.4 Mountain Bikes
5.3.4.1 Cross Country Bikes
5.3.4.2 Trail Mountain Bikes
5.3.4.3 Downhill Bikes
5.3.4.4 All Mountain Bikes
5.3.4.5 Dirt Jumping Bikes
5.3.4.6 Freeride Bikes
5.3.4.7 Others
6 Global Bikes/Bicycles Market , By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Bikes/Bicycles Market Share Analysis, By Technology
6.3 Global Bikes/Bicycles Market Size and Forecast, By Technology
6.3.1 Electric
6.3.2 Conventional
6.3.3 Road
6.3.4 Triathlon
6.3.5 Gravel
6.3.6 Hybrid
6.3.7 Youth
6.3.8 All Terrain Bicycle
7 Global Bikes/Bicycles Market , By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Bikes/Bicycles Market Share Analysis, By Application
7.3 Global Bikes/Bicycles Market Size and Forecast, By Application
7.3.1 Leisure
7.3.2 Competition
8 Global Bikes/Bicycles Market, By Region
8.1 Global Bikes/Bicycles Market Share Analysis, By Region
8.2 Global Bikes/Bicycles Market Share Analysis, By Region
8.3 Global Bikes/Bicycles Market Size and Forecast, By Region
9 North America Bikes/Bicycles Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Bikes/Bicycles Market Share Analysis, By Type
9.3 North America Bikes/Bicycles Market Size and Forecast, By Technology
9.4 North America Bikes/Bicycles Market Size and Forecast, By Application
9.5 North America Bikes/Bicycles Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Bikes/Bicycles Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Bikes/Bicycles Market Share Analysis, By Type
10.3 Europe Bikes/Bicycles Market Size and Forecast, By Technology
10.4 Europe Bikes/Bicycles Market Size and Forecast, By Application
10.5 Europe Bikes/Bicycles Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Bikes/Bicycles Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Bikes/Bicycles Market Share Analysis, By Type
11.3 Asia Pacific Bikes/Bicycles Market Size and Forecast, By Technology
11.4 Asia Pacific Bikes/Bicycles Market Size and Forecast, By Application
11.5 Asia Pacific Bikes/Bicycles Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia Pacific
12 Latin America Bikes/Bicycles Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Bikes/Bicycles Market Share Analysis, By Type
12.3 Latin America Bikes/Bicycles Market Size and Forecast, By Technology
12.4 Latin America Bikes/Bicycles Market Size and Forecast, By Application
12.5 Latin America Bikes/Bicycles Market Size and Forecast, Country
12.5.1 Brazil
12.5.2 Rest of Latin America
14 Middle East Bikes/Bicycles Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Middle East Bikes/Bicycles Market Share Analysis, By Type
14.3 Middle East Bikes/Bicycles Market Size and Forecast, By Technology
14.4 Middle East Bikes/Bicycles Market Size and Forecast, By Application
14.5 Middle East Bikes/Bicycles Market Size and Forecast, By Country
14.5.1 Saudi Arabia
14.5.2 UAE
14.5.3 Egypt
14.5.4 Kuwait
14.5.5 South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Accell Group
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 Atlas Cycles (Haryana) Ltd.
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Avon Cycles Ltd.
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Cervelo
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 Dorel Industries Inc.
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Giant Bicycles
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Merida Industry Co. Ltd.
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Specialized Bicycle Components, Inc.
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 SCOTT Sports SA
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Trek Bicycle Corporation
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
