Opportunities for the global bicycle industry to reach $34.9 billion by 2022

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.

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.

Lucintel LLC
222 Las Colinas Blvd West, Suite 1650, Irving, TX 75039, USA
Ph: +1-972-636-5056
marketing@lucintel.com

This release was published on openPR.