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Sports Bicycle Market worth $29.83 billion by 2030, growing at a CAGR of 8.42% - Exclusive Report by 360iResearch
Sports Bicycle Market | 360iResearch
The Global Sports Bicycle Market to grow from USD 16.94 billion in 2023 to USD 29.83 billion by 2030, at a CAGR of 8.42%.
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Sports bicycles, distinct from standard bicycles, are specifically designed for competitive racing, vigorous physical activity, and enhanced performance across diverse terrains. These advanced bicycles incorporate aerodynamic designs, lightweight frames commonly made from materials such as carbon fiber & aluminum, and high-precision gearing systems. Optimized for speed, efficiency, and control, sports bicycles cater to a range of activities, including road racing, time-trial, triathlon, and mountain biking. Increasing awareness concerning the health benefits of cycling drives the market. In addition, growing environmental concerns and the adoption of eco-friendly modes of transportation owing to market growth. However, the high cost of premium sports bicycles can hinder market growth among budget-conscious consumers. Furthermore, continuous innovations in bicycle design and materials for better performance create lucrative opportunities for market growth.
The sports bicycle market in the Americas, particularly in the United States and Canada, is witnessing robust growth due to the increasing popularity of cycling both as a recreational activity and a competitive sport. Consumers in this region exhibit a strong preference for high-performance bicycles equipped with the latest technology. There's a significant trend towards customization and premiumization, with a growing segment willing to invest in advanced materials, including carbon fiber, to reduce weight and enhance durability. The European Union (EU) countries constitute a major market for sports bicycles, driven by a culture that values cycling both as a mode of sustainable transportation and a sport. The demand for sports bicycles in this region is fueled by supportive government policies, including substantial investments in cycling infrastructure and incentives for cyclists. The sports bicycle market in the Middle East and Africa is in a nascent stage but shows considerable potential for growth. The market dynamics vary significantly across the region, with the Middle East exhibiting an emerging interest in luxury and high-performance sports bicycles. The Asia Pacific region, notably China, Japan, and India, represents the fastest-growing market for sports bicycles. The surge in consumer demand in this region is attributable to increasing health consciousness, rising disposable incomes, and a growing sports culture. China leads in terms of both production and consumption, with considerable investment in electric sports bicycles and biking infrastructure.
Market Segmentation & Coverage:
This research report categorizes the Sports Bicycle Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product Type, market is studied across Cyclo-cross Bicycles, Mountain Bicycles, Road Racing Bicycles, and Track Racing Bicycles. The Mountain Bicycles commanded largest market share of 34.77% in 2023, followed by Cyclo-cross Bicycles.
Based on Application, market is studied across Offline Retail and Online Retail. The Offline Retail commanded largest market share of 96.91% in 2023, followed by Online Retail.
Based on End User, market is studied across Adult's Sports Bicycle and Kids Sports Bicycle. The Adult's Sports Bicycle commanded largest market share of 85.43% in 2023, followed by Kids Sports Bicycle.
Based on Vendor Type, market is studied across Aftermarket and OEM. The OEM commanded largest market share of 72.66% in 2023, followed by Aftermarket.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 33.88% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Sports Bicycle Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Sports Bicycle Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Sports Bicycle Market, highlighting leading vendors and their innovative profiles. These include Accell Group, Diamondback Bicycles, F.I.V. E. Bianchi S.p.A., Firmstrong Bikes, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co. Ltd., Hero Cycles Limited, Jenson USA, Kona Bikes, Marin Mountain Bikes Inc., Merida Industry Co. Ltd., Pedego Electric Inc., Pon Holdings BV, Pure Fix Cycles, LLC, Redline Bicycles, SCOTT Sports SA, Seven Cycles, Inc., Shimano, Inc., TII, Trek Bicycle Corporation, and Yadea Group Holdings Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Sports Bicycle Market, by Product Type
7. Sports Bicycle Market, by Application
8. Sports Bicycle Market, by End User
9. Sports Bicycle Market, by Vendor Type
10. Americas Sports Bicycle Market
11. Asia-Pacific Sports Bicycle Market
12. Europe, Middle East & Africa Sports Bicycle Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Sports Bicycle Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Sports Bicycle Market?
3. What is the competitive strategic window for opportunities in the Sports Bicycle Market?
4. What are the technology trends and regulatory frameworks in the Sports Bicycle Market?
5. What is the market share of the leading vendors in the Sports Bicycle Market?
6. What modes and strategic moves are considered suitable for entering the Sports Bicycle Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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