The subsequent decade to see the Bicycle Market ride on shared mobility at a CAGR of 5.6% 

Bicycles: Recycling Health!

Bicycling is being opted by the majority of health-conscious population as well as in the form of leisure activity. Apart from keeping obesity and the digestion-related disorders at bay, bicycles prove to be cost-effective as well. The developing economies have realized these benefits and taken to bicycling on the war footing.

These days, dockless bicycle-sharing systems are witnessing an exponential demand. As they let users locate bicycle in the vicinity followed by unlocking it electronically. Though the origin could be traced to the Europe, the countries like China and India are more into adoption of these systems. Persistence Market Research has captured these details with insights through its report entitled “Bicycle Market”.

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How about integration of Technological Advancements?

The present scenario implies integration of advancements in the form of GPS (Global Positioning System) and mobile apps in the dockless bicycle-sharing systems. China-based bicycle-sharing companies are into investment and expansion of their operations on an aggressive count all over the Europe for encashing on market opportunities.

Moreover, there are events like Ronde van Vlaanderen and Tour de France driving people towards resorting to cycling. MEA, LATAM, and the Asia-Pacific are also not behind in organizing bicycling events. These factors have been very well etched by Persistence Market Research in its report mentioned above.

Electric bicycles are witnessing an increasing adoption, so as to ensure quicker journeys in comparison with traditional counterparts. The batteries used on the latest count are capable of offering longer life-span and higher capacities, that too, with reduced size. These maintenance-free batteries bolster the electric bicycles market and would continue to do so even in the forecast period. These details are also mentioned by Persistence Market Research in the aforementioned report.

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Bicycles: A solution to curb Traffic Congestion?

With traffic and space congestion being grave concerns all over, bicycling is looked upon as a solution. Though the developed economies do have their exclusive cycling tracks, countries like India need to do ground work on this part. As of now, the usual roads are being used by cyclists. There are minimal cycling tracks herein. Once infrastructure in this regard is in place, things are bound to change for good. The world could get respite from traffic congestion then. Persistence Market Research has made its bit in giving a detailed analysis on this count.

Checking Air Pollution and Road Mishaps

Also, it’s a known reality that air pollution is directly proportional to the number of vehicles plying on the roads. Bicycling can contribute a great deal to reduce this pollution. Also, with proper traffic control, road mishaps could also be brought into check. Persistence Market Research has gauged these parameters in its above-mentioned report.

How does the categorization of bicycle market go about?

Bicycle market, by product, spans hybrid/cross, mountain bikes, road, comfort, youth, cruisers, and electric. Technology-wise, it’s electric and conventional. By price, it’s low-range, mid-range, and premium. End-user-wise, it’s kids, women, and men. Out of these, premium cycles are being dominated by men, whereas low-range go to women. Persistence Market Research has come to terms with these figures and entailed them in the report.

How about Geography?

The Asia-Pacific holds more than 30% of the market share. It is, in fact, expected to witness a double-digit CAGR between 2021 and 2031. The countries like Singapore, Japan, and China are focusing on improving the infrastructure for encouraging and supporting commuting through bicycles. It’s a good thing that cities like Tokyo are known for the lowest rate of road mishaps. Urban bicycling could be arranged for in the best possible manner over here.

Europe is led by countries like France, Denmark, Belgium, and Italy in terms of cycling. North America is growing steadily in bicycle market. Persistence Market Research is there throw light on this scenario in the forecast period.

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This release was published on openPR.