According to a new market report published by
Lucintel, the future of the global bicycle industry looks good with
opportunities in the segments of e-bikes, road, mountain terrain bike (MTB),
and kids’ bicycles. The global bicycle market is expected to reach an estimated
$34.9 billion by 2022 and is forecast to grow at a CAGR of 2.7% from 2017 to 2022.
The major drivers of growth for this market are increasing fitness consciousness
among people, increasing environmental concerns, increasing traffic congestion,
and government programs to promote cycling.
In this market, road, mountain, kids, e-bikes,
and other bicycles are the segments by bicycle type. Lucintel forecasts that
the mountain bicycle segment is expected to remain the largest segment by value
due to increasing demand for these bicycles for leisure purposes. On the basis
of its comprehensive research, Lucintel predicts that the demand for kids
bicycle is likely to experience the highest growth in the
forecast period as parents are
encouraging children to take up physical activities such as bicycling.
Asia Pacific is expected to remain the largest
region during forecast period supported by huge population and increasing
usage of bicycle as a sustainable mode of transportation.
Europe
is expected to witness the highest growth over the forecast period driven by growing
popularity of e-bicycles as an environmental friendly means of transportation
and government initiatives to promote sustainable transportation.
For
business expansion, the report suggests new product development to enhance the
performance of bicycles by making them more lightweight and comfortable. The
report further suggests the development of partnerships with customers to
create win-win situations and the development of performance-driven solutions
for end users.
Emerging
trends, which have a direct impact on the dynamics of the industry, include
increasing use of folding electric bicycles and increasing the demand for
bicycles by improving safety features and appearance. Giant Manufacturing Co.
Ltd., Accell Group N.V, Merida Industries Co. Ltd., and Dorel Industries Inc.
are among the major suppliers of bicycles.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global bicycle industry by bicycle type, region and country and has come up
with a comprehensive research report entitled, “Growth
Opportunities in the Global Bicycle Industry 2017-2022: Trends, Forecast, and
Opportunity Analysis.” The
Lucintel report serves as a springboard for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global bicycle market by bicycle type, region
and country as follows:
By Bicycle Type (Value $ Million and Volume
Units from 2011 to 2022):
- Road/Standard Bicycle
- MTB/Racing Bicycle
- Kids Bicycle
- E-bikes
- Others
By Region (Value $ Million and Volume Units from 2011 to
2022):
- North America
- Europe
- Asia Pacific
- Rest of World
By
Country (Value $ Million and Volume Units from 2011 to 2022):
- United States
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Canada
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Germany
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- United Kingdom
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Spain
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Italy
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- France
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- China
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Japan
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- India
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- South Korea
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Australia
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
- Brazil
o
Road/Standard
Bicycle
o
MTB/Racing
Bicycle
o
Kids Bicycle
o
E-bikes
o
Others
This
156-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel
offerings include Consumer
Goods Report, Consumer
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1. What are
some of the potential, high-growth opportunities for the global bicycle
industry, by bicycle type (road,
mountain terrain bike, kids’ bicycles, e-bikes, and other bicycles), region (North America, Europe, APAC, and
the Rest of the World), and country (United States, Canada, Germany, United Kingdom, Spain,
Italy, France, China, Japan, India, South Korea, Australia, and Brazil)?
Q. 2. Which
segments will grow at a faster pace and why?
Q. 3. Which region will
grow at a faster pace and why?
Q.4 What are
the key factors affecting market dynamics? What are the drivers and challenges
of the market?
Q.5. What are the business risks and threats of this market?
Q.6 What
are the emerging trends in this market and reasons behind them?
Q.7 What
are some changing demands of customers in the market?
Q.8 What are
the new developments in the market? Which companies are leading these
developments?
Q.9 Who are the
major players in this market? What strategic initiatives are being implemented
by key players for business growth?
Q.10 How
is the competitive rivalry and threat of substitution in this market?
Q.11. What M&A activity has occurred in the
last 5 years?
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