Global men’s bicycle market will surpass a valuation of US$ 24,900 Mn by the end of 2022

Increasing occurrence of obesity and the serious liabilities it brings along is prompting people across the globe to adopt daily regimens that involve more physical activities. Most medical practitioners and physicians actively recommend regular exercise and involvement in sporting activities for preventing various lifestyle disease. Some studies also suggest that involving oneself into sporting activities can help reduce stress as well as overcome depression or low self-esteem. The aforementioned factors are playing a key role in fuelling the demand for various sporting goods and accessories, including bicycles, trampolines, balls, flying discs and skipping ropes. The report, compiled by Fact.MR, provides in-depth analysis of the global men’s bicycle market for the forecast period 2017-2022, and offers key insights about future market direction.

The scope of Fact.MR’s report is to analyze the global men’s bicycle market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Men’s bicycle manufacturers, stakeholders, and suppliers in the global sports sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to sports.

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Global Men’s Bicycle Market: Key Projections

Based on products, the hybrid bicycles segment is projected to remain highly attractive during the assessment period. In terms of revenue, the segment currently commands for more than 37% share of the global market. In addition, the hybrid bicycles segment is anticipated to cross a market valuation of US$ 9,600 Mn by the end of 2022, reflecting a steady CAGR.

Between 2017 and 2022, the market for men’s bicycle in Asia-Pacific excluding Japan (APEJ) is expected to exhibit an impressive growth rate. This is primarily due to the increasing urgency to check air pollution levels in various APEJ countries, which is resulting in higher adoption of bicycles in the region. Meanwhile, demand for men’s bicycle in North America is also expected to surge over the next couple of years as consumers shift towards more eco-friendly modes of transportation.

Based on technology, the conventional men’s bicycle segment will continue to outperform the electric men’s bicycle segment during the forecast period. The former currently represents more than two-third revenue share of the global market. By 2022-end, the conventional men’s bicycle segment is estimated to surpass a valuation of US$ 20,400 Mn.

Based on price range, the mid-range segment is expected retain its dominant position over the assessment period. Demand for mid-range priced men’s bicycle is significantly high. The mid-range segment currently commands for close to 60% revenue share of the market.

On the basis of distribution channel, the independent outlet segment is expected account for a considerable contribution to the global men’s bicycle market revenues in 2017 and beyond. The independent outlet segment is projected to reflect a CAGR of 3.1% from 2017 to 2022.

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Hybrid Bicycles to Remain Highly Sough-After

On the basis of product type, demand for hybrid bicycles will continue to gain traction during the forecast period (2017-2022). Currently, the global sales of hybrid bicycle represent more than one-third revenue share of the global men’s bicycle market. Towards that end of 2022, over US$ 9,605 Mn worth units of men’s bicycles are estimated to be sold worldwide.

Among regions, Asia-Pacific excluding Japan (APEJ) is expected to dominate dlobal men’s bicycle market in terms of revenue through other assessment period. Further, the market in the region is expected to witness a relatively higher growth between 2017 and 2022. Owing to the rising pollution levels, governments in counties such as China and India are encouraging and promoting the use of bicycle.

Competition Tracking

Giant Manufacturing Co., Ltd., Atlas Cycles (Haryana) Limited, Trek Bicycle Corporation, Tube Investments of India Limited, Accell Group N.V., Dorel Industries Inc., Merida Industry Co. Ltd., Tandem Group plc, Samchuly Bicycle Co., Ltd, and Youngone Corporation are the leading market players profiled in the Fact.MR’s report.

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This release was published on openPR.