Gear Bicycle Market Poised for Remarkable Growth, Anticipated to Reach $63.5 Billion by 2032

Surge in health awareness coupled with the low maintenance cost of bicycle, growth of innovative manufacturing designs and surge in outdoor sports drive the growth of the global 𝐆𝐞𝐚𝐫 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. The global gear bicycle market size was valued at $37.3 billion in 2022, and is projected to reach $63.5 billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A12256

Gear bicycle consist of toothed wheels connected by a chain, enhancing speed and facilitating the rider in overcoming resistance. The primary gear is affixed to the crank, a set of levers housing the pedals. The speed boost results from the tooth ratio between the front and rear gears. Each rotation of the pedals and crank propels the bike wheel forward. Presently, consumers find outdoor sports as an ideal medium of refreshment out of a busy schedule. In addition, associations and sports organizations are promoting bicycle events to encourage not only athletes but also regular cyclists.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

STRYDER CYCLE PRIVATE LIMITED, Accell Group N.V., SCOTT Sports SA, SPECIALIZED BICYCLE COMPONENTS, INC., Kross Bikes, Giant Bicycles India , Trek Bicycle Corporation, Colnago Ernesto & C. S.r.l., MERIDA INDUSTRY CO., LTD., Firefox Bikes

Prime determinants of growth

The global gear bicycle market has experienced significant growth and transformation, driven by surge in outdoor sports, increase in health awareness, low maintenance cost of gear bicycles. A gear bicycle serves as an environmentally friendly means of transportation, offered in a different type, including electric bikes and mountain bikes.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/1412312a48577ae52b9a1c29598b4437

By application, the adventure segment held the highest market share in 2022 and is estimated to maintain its leadership status throughout the forecast period with a CAGR of 6.2%, geared bicycle offers a solution for safe and comfortable rides. By adjusting the resistance levels to match the preferred pedaling pace, riders alleviate stress on their muscles and joints, owing to the flexibility provided by the multiple gears. However, the sports segment is projected to witness a CAGR of 5.6% from 2023 to 2032, owing to the ongoing trend towards increased competitive events and interest in leisure activities such as running and cycling globally.

There is a significant surge in the popularity of gear bicycle racing for diverse physical activities, which is contributing to a rising demand. The prominence of international sports events are motivating consumers to participate in various cycling activities. These sports events motive athletes and regular citizens to adopt cycling. This contributes toward the growth of the global market. Gear cycles are equipped with advanced braking systems, delivering superior stopping power. This feature facilitates easy navigation through busy roads and enables the person to avoid obstacles with increased efficiency.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

By region, Asia-Pacific held the highest market share in terms of revenue in 2022 witnessing a CAGR of 6.2%, as some of the major associations in Asia-Pacific are the Cycling Federation of India and the Chinese Association. These associations not only promote sports and events but also influence customers for usage of bicycles. Furthermore, electric bicycles are gaining high traction in the region. All these bicycles are equipped with gears owing to the customers preference. However, the LAMEA region is expected to witness the highest CAGR of 8.3% from 2023 to 2032, owing to the leasing of bikes in LAMEA. Leasing bicycles is not only cost-efficient but also provides health benefits to users. Furthermore, increasing usage of bikes is resolving the issue of traffic congestion.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A12256

Manufacturers are incorporating modifications in the upcoming bikes. The modification includes aluminum and carbon body for a light bodyweight of bikes, aerodynamics in design for faster rides, and durable battery. Furthermore, these improvements in the quality of bikes are done at a reasonable rate. Furthermore, bicycle associations notably contribute toward the gear bicycle industry growth, as these associations organize various rallies and sports events.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By Sales Channel, the Online segment is anticipated to exhibit significant growth in the gear bicycle market in the near future.

By Application, the Adventure segment is anticipated to exhibit significant growth in the market in the near future.

By End User, Men segment is anticipated to exhibit significant growth in the market in the near future.

By Region, LAMEA is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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