Regional Analysis and Growth Opportunities in the Bicycle Market
(PRUnderground) December 6th, 2023
The global bicycle market is anticipated to experience substantial growth, reaching an estimated USD 22.69 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 6.32% from 2022. This market is characterized by fragmentation due to the presence of numerous global and regional companies. Leading players in the bicycle market include Accell Group NV, BH BIKES Europe SL, Cicli Pinarello Srl, DAHON North America Inc., Kalkhoff Werke GmbH, Tube Investments of India Ltd., and many others.
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- Accell Group NV: Offers bicycles, bicycle parts, and accessories.
- BH BIKES Europe SL: Provides bikes, e-bikes, equipment, and trail clothing.
- DAHON North America Inc.: Offers a diverse range of bikes, e-bikes, and accessories.
The market is geographically classified into APAC, Europe, North America, South America, and the Middle East and Africa. APAC is expected to contribute significantly, accounting for 51% of the global market growth during the forecast period. Factors such as rising demand for bicycles, increased healthcare consciousness, environmental concerns related to CO2 emissions, urbanization, and traffic congestion are driving the growth in this region.
For deeper insights into market share across various regions and segment contributions, download a free sample report. The report highlights impactful drivers, key trends, and major challenges in the bicycle market.
- Impactful Driver: Increasing number of bicycle sports events.
- Key Trend: Growing popularity of bicycle rental services.
- Major Challenges: Rise in the number of product recalls.
- Based on Product: Segmented into on-road and track bicycles, off-road bicycles, and x-road and hybrid bicycles. The on-road and track bicycle segment is expected to witness significant market share growth during the forecast period. On-road bicycles, designed for paved roads, feature thin tires and lighter frames for enhanced efficiency and speed. Track bicycles are optimized for racing on outdoor paths or velodromes and are characterized by fixed-gear mechanisms.
The children’s bicycle market size is estimated to grow at a CAGR of 5.36% between 2023 and 2028. The market size is forecast to increase by USD 4,883.58 million.
The sports bicycle market size is estimated to grow at a CAGR of 6.19% between 2022 and 2027. The market size is forecast to increase by USD 5.52 billion.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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Original Press Release.