(MENAFN- America News Hour) In a recently published report, Global Bicycle Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Bicycle Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Bicycle Market is valued approximately at USD 50.88 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2020-2027. Now a days large numbers of people are opting for bicycling as a form of leisure and exercise. The major drivers that support the market growth are shifting concern of people about healthy lifestyle, environment-friendliness and for recreation and leisure. Preference for bicycles to ensure a healthy life, free from obesity and other disorders are expected to boost the market. The popularity of dockless bicycle-sharing systems is also rising. Various sports events, such as Tour de France and Ronde van Vlaanderen, are fueling the popularity of bicycles. Men are likely to travel more than women through bicycles. For Instance: as per the data provided by the Department for Transport U.K., in 2019, on average, the U.K. men population made 25 cycling trips in a year as compared to 10 cycling trips by women population in the same year. Thus the sales of bicycles by men is likely to increase. Further, increasing investment in sports infrastructure through favorable government initiatives and participation in sports has led the adoption of Bicycle across the forecast period. For Instance: in India events like, mountain cycling events, cycling marathons and other events organized by Cycling Federation of India. However, lack of necessary infrastructure to support bicycle commutation in congested regions impedes the growth of the market over the forecast period of 2020-2027. Further, with the governments of U.S. & Italy providing subsidies on the purchase of new bicycles and growing awareness among public of bicycle being safest medium to travel, the adoption & demand for bicycle is likely to increase.
The regional analysis of global Bicycle market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-pacific is the leading/significant region across the world in terms of market share owing to urban cycling, sports events and health conscious people. Whereas, Europe is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as environmental friendly awareness and less traffic on roads coupled with the well-established cycling infrastructure would create lucrative growth prospects for the Bicycle market across Asia-Pacific region.
Major market player included in this report are:
Accell Group
Cervélo
Dorel Industries Inc.
Giant Bicycle
Merida Industry Co.,Ltd.
Olympus Bikes
Scott Sports SA
Specialized Bicycle Components, INC
Trek Bicycle Corporation
Kona Bicycle Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Cargo Electric bike
Non-Cargo Electric bike
Cargo Nonelectric bike
Non-cargo Nonelectric bike
By Sales Channel:
Online Platforms
Physical Stores
By End-User:
Men
Women
Kids
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Bicycle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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