How Bicycle Market Play Major Role for Global Development and Manufacturing Process 2021-2027

Bicycle Market Perspective 2021

𝗥𝗲𝗽𝗼𝗿𝘁 𝗣𝗮𝗴𝗲𝘀: [130 Pages]

The size of the global bicycle market is estimated at USD 54.44 billion by 2020. It is expected to grow at a combined annual growth rate (CAGR) of 7.0% from 2021 to 2028. The increase in the number of people choosing to go cycling as a hobby is expected to accelerate growth. The choice of bicycles as an easy way to exercise to ensure a healthy lifestyle, free of obesity and other disorders, is expected to further market growth. The popularity of empty bike sharing programs has increased recently. This program allows users to find a nearby bike and unlock it with a computer. Originally adopted in Europe, sterile bicycle sharing systems are becoming increasingly popular, especially in Asian countries such as India and China.

𝗚𝗼 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁 Bicycle Market
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The biggest disadvantage given by bicycles is that you do not need an external fuel or a source of fuel for driving. Since natural resources are limited and fast-paced, cycling is important to avoid resource depletion. To save on oil and fuel, consumers are more likely to go around distances close enough. In addition, consumers also save a considerable amount of money on fuel, and there is no need for a bicycle license. Therefore, these factors are expected to stimulate the growth of the global bicycle market in the forecast period. Modern life and busy programs have forced people to work without exercise. With an increasing number of junk food, health issues such as obesity appear at a very young age. According to the World Health Organization (WHO), in 2014, 114 countries including Europe, the Middle East, and the United States had more than half the views of adults. In contrast, a healthier and more environmentally friendly way of life is becoming increasingly popular by raising awareness about the dangers of obesity. Numerous studies have shown that cycling is around 500 - 700 calories per hour. Various countries have begun to use cycling as an effective way to burn fat and maintain a healthy weight. Even Doctors advise the general public around the world to use bicycles as a tool to have a healthy lifestyle, whether they are fat or not. Therefore, these factors are expected to cause market growth in the near future.

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𝗙𝗿𝗲𝗾𝘂𝗲𝗻𝘁𝗹𝘆 𝗔𝘀𝗸𝗲𝗱 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 (𝗙𝗔𝗤) :

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗶𝘇𝗲, 𝘀𝗵𝗮𝗿𝗲 𝗼𝗳 Bicycle ?

𝗬𝗲𝘀, The global Bicycle market was valued at US$ 51,770.6 Mn in 2019 and is forecast to reach a value of US$ 69,574.6 Mn by 2027 at a CAGR of 3.7% between 2020 and 2027.

𝗪𝗵𝗼 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀/𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 Bicycle?

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Companies Covered as part of this study include: 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.,

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