[PDF] Bicycle Market : Europe's greatest bicycle industrial facility under development|openpr.com
Constantly increasing demand for cleaner and faster mode of transportation can present major growth opportunities
The pollution caused due to the emission from fuel-driven vehicles has increased significantly in the recent past. On the contrary, it has presented a massive opportunity for green solution providers and manufacturers to capitalize on the market. The bicycle manufacturers can exploit these conditions as an opportunity to expand and increase their business. The eco-friendly mode of transport with bicycle as a medium has already gained popularity and is a prominent trend in European countries like Denmark, Netherlands, and the U.K.
High growth of tourism industry can provide lucrative business opportunities
Tourism industry has witnessed massive growth in numerous economies. Cycle tourism provides major opportunities for manufacturers to gain a competitive edge in the market. There has been global increase in the construction of cycle tourism projects in various countries to generate a good source of revenue for the country. For instance, in Germany and France, the average annual turnover from the cycling tourism is approximately 11 billion Euros and the revenue is expected to increase in the near future due to increased infrastructural and extension activities going on in the cycling tracks and lanes.
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1. What is the market size of Bicycle in 2022?
- The global market for Bicycle is expected to reach USD 57,972.3 Million by 2022.
2. What is the Compound Annual Growth Rate (CAGR) of the Bicycle market during the forecast period (2020-2027)?
- The market is expected to grow at 3.7% CAGR over the period (2020-2027).
3. Which sub-segment among Price held the largest market share in the global Bicycle market?
- Mid-Range sub-segment holds the largest market share among Price segment contributing 55.5% market share in terms of value in 2019.
4. Which region held the largest market share in the global Bicycle market?
- Asia Pacific region hold the largest share in the global Bicycle market in 2019, accounting for 63.2% share in terms of value.
5. Who are the key players operating in the global Bicycle market?
- Key players operating in the global Bicycle market are Giant Bicycle Inc., Samchuly Bicycle Co., Ltd., Atlas Cycles Ltd., Tandem Group plc, Derby Cycle, Merida Industry Co. Ltd., Avon Cycles Ltd., Dorel Industries Inc., Trek Bicycle Corporation, Xiaomi, Accell Group, Zhonglu Co. Ltd., and Tube Investment of India Limited.
Advent of bicycles in corporate sector to endorse eco-friendly transportation
In developed regions such as Europe and North America, many corporate offices have started using bicycles and electric vehicles as a mode of transport inside their campuses and is mandatory that every employee should follow this, in order to enhance air quality and minimize pollution index inside the campuses. The U.S. Green Building Council (UGBC) is supporting corporate offices to be leader in energy and environment design or LEED.
Improved material science has facilitated the manufacturing of ultra-lightweight bicycles
Advancements in material science have allowed manufacturers to fabricate ultra-lightweight bicycles. The new technology and advanced methodology used for the manufacturing of such bicycles has found increasing application in the manufacturing of sports and mountain bicycles. For instance, in June 2016, Canyon Bicycles GmbH launched Canyon Ultimate CF SLX, which has the lightest frame and is one of the strongest too in racing bicycle category.
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