Bicycle Market Top Key Players - Giant Manufacturing Co. Ltd , Merida Industry Co., Ltd., Bridgestone Co., Shimano, Inc., Hero Cycles Ltd. , Trek Bicycle Corp., Cannondale Bicycle Corporation, Pacific Cycle Group, Schwinn Bicycles

The global bicycle market is estimated at $35 Billion in 2020, growing at 12% CAGR till from 2021 to 2026. Since its inception, bicycles have been continuously adapted and improved. These innovations are supported by the increasing use of computers and software for the purpose of building the appearance of modern materials, automated tasks and designs, enabling a wide variety of specialized bicycle types, improved ride comfort.

As for the bicycle market segment, hybrid bicycles are predicted to grow the fastest in the world as their multifunctional use is considered the most preferred option among customers. The growth of the bicycle market segment, which today accounts for nearly 15% of the global bicycle market, is also projected to grow during the forecast period.

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BICYCLE MARKET DYNAMICS

• Globally, individuals are becoming more and more aware of their health, which ultimately results in an increasing demand for bicycles as an alternative mode of transportation. The overall demand for electric bicycles today is evolving compared to existing bicycles and is expected to secure a larger market share.

• The global bicycle market is expected to grow as more people use bicycles as a daily means of transportation. Events like the Tour de France and Ron de van Vlaanderen make these vehicles even more popular. On the other hand, the increase in cycling tourism marketing and cycling events held in various countries such as Asia, Africa and the Middle East is promoting sales of mountain bikes as well as road bicycle.

BICYCLE MARKET SEGMENTATION

The bicycle market is segmented by

By Geography
• Europe
• USA
• China
• Asia Ex China
• ROW

By Type of Bicycle
• Conventional Bicycle
• E-bicycle

By Price
• $400

By Sales Channel
• Offline
• Online

COVID-19 IMPACT ON BICYCLE MARKET

• Covid-19 has brought about a sharp increase in bicycle sales in response to infectious diseases. Anxiety about public transportation has increased, the amount of exercise has increased rapidly, and more and more people are choosing one of the most basic means of transportation, causing the so-called bicycle boom.

• The global bicycle market, which had already expanded before the pandemic, was shot by Corona 19. About 19% of adults in the United States ride their bicycles for the first time in a year (2020) because of an infectious disease. And most of the riders continued to ride after the lock command was released. And many of the reactivated riders have children. This means that more people will ride more bicycles.

BICYCLE MARKET COMPETITIVE LANDSCAPE

• The global bicycle market is highly segmented and includes many international and regional players. To gain a competitive edge, both companies are investing in research and development (R&D) and differentiating their products using a variety of design and functional elements and variations in size and weight.

• Also Accell Group, Trek Bicycle Corporation, Dorel Industries Inc., Giant Manufacturing Co. Ltd. Leading manufacturers in the market, including Thailand and India, are focusing on taking advantage of the opportunities brought by emerging markets in the Asia Pacific region. Expand your entire global market revenue base.

COMPANY PROFILES

• Giant Manufacturing Co. Ltd (Taiwan)
• Merida Industry Co., Ltd. (Taiwan)
• Bridgestone Co. (Japan)
• Shimano, Inc. (Japan)
• Hero Cycles Ltd. (India)
• Atlas Cycles Ltd. (India)
• Avon Cycles Ltd. (India)
• Hamilton Industries Pvt. Ltd. (India)
• Shanghai Forever Import & Export Co., Ltd. (China)
• Shanghai Phoenix Imp. & Exp. Co., Ltd. (China)
• Accell Group N. V. (The Netherlands)
• Trek Bicycle Corp. (USA)
• Cannondale Bicycle Corporation (USA)
• Pacific Cycle Group (USA)
• Schwinn Bicycles (USA)
• Santa Cruz Bicycles (USA)
• Specialized Bicycle Components, Inc. (USA)
• Dorel Industries Inc. (Canada)
• Wilier Triestina S.p.A (Italy)
• I.V. Edoardo Bianchi S.p.A (Italy)
• Maxeurope(Bulgaria)
• Lapierre SA(France)
• Tandem Group plc (UK)
• Raleigh Ltd. (UK)
• Winora Staiger GmbH (Germany)
• Amer Sports Corporation (Finland)
• Cycleurope AB (Sweden)

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