The Future of the Bicycle Industry: Trends and Innovations to Watch

Bicycle Industry Data Book - Bicycle, Bicycle Accessories and Cargo Bikes Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Bicycle Industry was estimated at USD 76.01 billion in 2022 and is expanding at a significant CAGR of 9.5% from 2023 to 2030, according to a new report by Grand View Research, Inc.

Grand View Research’s bicycle sector data book is a collection of market sizing information & forecasts (2017-2030), key players’ competitive benchmarking analysis, government regulatory data, macro-environmental analysis, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Bicycle Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Bicycle Accessories Market Growth & Trends

The global bicycle accessories market size is anticipated to reach USD 20.49 billion by 2030, registering a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. The market is predicted to grow due to the rising popularity of cycling for leisure activities and increasing awareness about the health benefits that come with it. As a mode of transportation, bicycles are becoming a preferred option for short-distance commutes, as they are time-efficient and can help avoid traffic congestion and limited parking spaces. As a result, more people are considering bicycles as their primary transportation option. Apart from this, rising traffic on roads has made bicycle users more concerned about safety, which also helped the market grow, as the sales of protective gear, such as helmets, riding jackets, and cycling gloves, are increasing.

In addition, the accessories add up to the riding comfort. With growing concerns about the environment, health, and urban congestion, more people are turning to bicycles as a means of transportation. This increased interest in bicycling has led to a greater demand for high-quality bicycle accessories. In addition, with an increase in the number of bicyclists on the road, there is a growing concern for their safety. As a result, there is a greater demand for accessories that can increase visibility, such as lights and reflectors, as well as protective gear like helmets. Also, consumers are primarily focused on avoiding crowded places and public transportation due to the COVID-19 pandemic. Apparel is expected to emerge as the fastest-growing segment over the forecast period. Cycling apparel is designed to be comfortable and flexible, allowing cyclists to move freely and comfortably while riding.

Order your copy of the Free Sample of “Bicycle Industry Data Book - Bicycle, Bicycle Accessories and Cargo Bikes Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Bicycle Market Growth & Trends

The global bicycle market size is anticipated to reach USD 135.02 billion by 2030, registering a CAGR of 9.7% over the forecast period, according to a new report by Grand View Research, Inc. Increasing adoption of cycling as a form of leisure and awareness regarding the health benefits associated with cycling are the factors expected to bolster the market growth. Bicycles are being preferred for short-distance commutes as they save considerable time as compared to other vehicles. Moreover, limited parking spaces and growing traffic congestions are prompting people to reconsider bicycles as a primary option for the commute.

Rising emphasis on the use of non-polluting vehicles for short-distance commutes by governments across the world is anticipated to positively influence market growth. The fact that bicycles do not emit any pollutants is projected to drive their demand in the near future. Moreover, consumers are rapidly moving toward online distribution channels to buy a bicycle due to several key factors, including doorstep delivery and replacement and the availability of a variety of products. Additionally, due to the outbreak of the COVID-19 pandemic, consumers are mainly focused on avoiding crowded places to prevent themselves from virus infections.

Go through the table of content of Bicycle Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Bicycle Industry are:

• Accell Group
• Atlas Cycles (Haryana) Ltd.
• Avon Cycles Ltd
• Cervelo
• Dorel Industries Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
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Bicycle Industry: Buyer Trends and Porter's Five Forces Analysis, 2023 - 2030

Bicycle Industry Data Book - Bicycle, Bicycle Accessories and Cargo Bikes Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

Grand View Research’s bicycle sector data book is a collection of market sizing information & forecasts (2017-2030), key players’ competitive benchmarking analysis, government regulatory data, macro-environmental analysis, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Access the Global Bicycle Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Bicycle Market Report Highlights

The global Bicycle Market size was valued at USD 64.63 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030.

• The global market is growing significantly as bike-sharing companies, particularly in Europe and Asia, are investing aggressively in expanding their operations
• Based on product, the cargo bikes segment is anticipated to expand at the highest CAGR of 16.3% over the forecast period. This high growth rate is mainly attributed to the increasing government initiatives to promote the adoption of cargo bikes for short-distance logistics within a city. In addition, the governments of several countries are offering grants and incentives to drive the adoption of e-cargo bikes
• Apart from being easy to use, electric bicycles can potentially shorten the journey time. Moreover, advances in battery technology have resulted in the advent of lighter rechargeable batteries that can support longer journeys. These factors are contributing to the growth of the electric technology segment
• The men segment is expected to expand significantly at a CAGR of 10.5% over the forecast period as men would continue to outnumber women and kids in terms of opting for a bicycle commute. The number of men opting for bicycle commutation was higher than that of women and kids in 2022
• Asia Pacific dominated the market in 2022 with a revenue share exceeding 33.0%. Governments in Asian nations, particularly Japan, China, and Singapore, among others, are investing aggressively in establishing the infrastructure necessary to encourage and support bicycle commutation
• Leading market incumbents are Accell Group; Dorel Industries Inc.; Giant Bicycles; Merida Industry Co., Ltd.; and Trek Bicycle Corporation. They dominated the market in 2022 leveraging a continuous emphasis on expanding their market share through mergers and acquisitions

Order your copy of Free Sample of “Bicycle Industry Data Book - Bicycle, Bicycle Accessories and Cargo Bikes Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Bicycle Accessories Market Report Highlights

The global Bicycle Accessories Market size was valued at USD 11.43 billion in 2022 and is expected to grow at compound annual growth rate (CAGR) of 7.8% from 2023 to 2030.

• In the product segment, the component sub-segment dominated the market in 2022 owing to the increased significance of safety and comfort offered by bicycle components, such as high-quality brakes, pedals, mudguards, locks, and air pumps
• The OEM segment held the largest revenue share in 2022 and is expected to grow at a steady CAGR over the forecast period as the OEM accessories are designed and manufactured by the same company that produced the bicycle, ensuring they are the same quality as the original components
• This can provide users with peace of mind, knowing that they are purchasing accessories that are compatible with their bicycle and meet the manufacturer’s quality standards
• The online segment is expected to register the fastest CAGR over the forecast period. Online shopping offers access to a broader range of products and brands than traditional brick-and-mortar stores
• Buyers can easily compare prices and products from numerous retailers, making it easier to find the most suitable deals and products that meet their needs
• The road bikes type sub-segment dominated the market in 2022 owing to the increased consumer preference for primary & reasonable bicycles

Go through the table of content of Bicycle Industry Data Book to get a better understanding of the Coverage and Scope of the study

Competitive Landscape

Key companies are investing aggressively; launching new products; introducing new services, such as home delivery of high-end bicycles, after-sales support, and maintenance; and pricing their products and services competitively as part of the efforts to retain their competitiveness. Moreover, a few key market players are expanding their market presence by opting for strategies such as mergers & acquisitions and partnerships and collaborations.

Key players operating in the Bicycle Industry are:

• Accell Group
• Atlas Cycles (Haryana) Ltd.
• Avon Cycles Ltd
• Cervelo
• Dorel Industries Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. 

Contact:  

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter

Bicycle Industry: Technology Trends and Growth Driver Analysis, 2023 - 2030

Bicycle Industry Data Book Covers Bicycle, Bicycle Accessories, and Cargo Bikes Market

The global Bicycle industry was estimated at USD 76.01 billion in 2022 and is anticipated to increase at a significant CAGR of 9.5% from 2023 to 2030.

Grand View Research’s bicycle sector data book is a collection of market sizing information & forecasts (2017-2030), key players’ competitive benchmarking analysis, government regulatory data, macro-environmental analysis, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Bicycle Market Insights

The global bicycle market size was valued at USD 64,625.7 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030. The increase in the number of people opting for bicycling as a form of leisure is anticipated to propel market growth. Preference for bicycles as a convenient form of exercise to ensure a healthy life, free from obesity and other disorders, is expected to further boost the market expansion. The popularity of dockless bicycle-sharing systems has been rising lately. This system allows users to locate a bicycle nearby and unlock it electronically. Incepted originally in Europe, dockless bicycle-sharing systems are gaining popularity, particularly in Asian nations such as India and China.

Furthermore, recent advancements in mobile app development and Global Positioning System (GPS) have resulted in app-based dockless bicycle-sharing systems. Moreover, the growing adoption of such dockless bicycle-sharing systems is anticipated to fuel the demand for cycles significantly. Chinese bicycle-sharing companies are particularly investing and expanding their operations aggressively in European nations to capitalize on the market opportunities. This is expected to boost the market growth in the forthcoming years.

People have started realizing the importance of staying fit and having a healthy life. They have also started realizing that regular bicycling can keep disorders, such as obesity, at bay. The market is likely to grow as more and more people are resorting to bicycling as a regular form of exercise. Events such as Tour de France and Ronde van Vlaanderenare further add to the popularity of these vehicles. Meanwhile, a rise in bicycling events being organized in various countries in Asia, Africa, and the Middle East is fueling the sales of mountain and road bicycles.

Order your copy of the Free Sample of “Bicycle Industry Data Book - Bicycle, Bicycle Accessories and Cargo Bikes Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Bicycle Accessories Market Insights

The global bicycle accessories market size was valued at USD 11.43 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. The market growth can be attributed to factors, such as health and fitness trends and increasing environmental concerns. As more people take up cycling for transportation, exercise, or leisure, the demand for bicycle accessories has also increased. From helmets, lights, and locks to bags, mirrors, water bottle cages, and pedals, bike accessories are crucial in enhancing the safety, comfort, and functionality of bicycles and cyclists. With the emergence of e-bikes and the growing popularity of cycling among younger generations, the industry is expected to continue its growth in the coming years.

Increase in e-bike sales: E-bikes or electric bikes, have also contributed to the growth of the market. As more people switch to e-bikes for their daily commutes or leisure rides, there is an increasing demand for accessories, such as mounts, integrated lighting, and horn systems, as they help increase the rider’s safety. For example, bicycle lights help cyclists be seen by other road users, especially in low-light conditions or when riding at night. This can be especially important on roads with heavy traffic, where motorists may have difficulty spotting cyclists. In addition, cyclists can reduce the risk of an accident by making themselves more visible by installing appropriate lighting systems.

The high volume of traffic and resulting congestion, coupled with concerns for rider safety and the increasing popularity of cycling, have contributed to a surge in the adoption of bicycle accessories. Other factors driving industry growth include rising interest in cycling sports, growing demand for sports and mountain bikes, and increasing sales of electric bicycles (e-bikes) in emerging markets. As a result, accessories, such as speedometers, mudguards, handlebar grips, LED lights, gloves, helmets, mirrors, and other related products have experienced a rise in demand, leading to projections of rapid expansion in the market.

Go through the table of content of Bicycle Industry Data Book to get a better understanding of the Coverage & Scope of the study

Bicycle Industry Data Book Competitive Landscape

Key companies are investing aggressively; launching new products; introducing new services, such as home delivery of high-end bicycles, after-sales support, and maintenance; and pricing their products and services competitively as part of the efforts to retain their competitiveness. Moreover, a few key market players are expanding their market presence by opting for strategies such as mergers & acquisitions and partnerships and collaborations. For instance, in November 2021, PIERER Mobility AG acquired FELT Bicycles. With this acquisition, PIERER has planned to expand its operations in the North American market for bicycles. This acquisition was intended to serve a customer segment demanding customizing their bicycle according to their individual needs.

Key players operating in the Bicycle Industry are:

• Accell Group
• Atlas Cycles (Haryana) Ltd.
• Avon Cycles Ltd
• Cervelo
• Dorel Industries Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. 

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter