NEW YORK, April 26, 2019 (GLOBE NEWSWIRE) -- The demand for cyclocross bicycle market is projected to reach 7.87 USD billion by 2024, actuating at an estimated CAGR of 5.01% from 2019 to 2024. Demand for Cyclocross bicycles has risen rapidly over the past few years. The versatility of these cyclocross bicycles places them in a competitive segment and have gained popularity among the riders across the world. These cycles resemble road bikes, with mountain bike brakes for mud and snow clearance and slightly nubby tires making it a viable choice among the rider community. Over the past few years the number of companies making these bicycles has grown significantly, making them one of the fastest growing market segments in the cycling industry. Further, more companies started adding cyclocross bicycle in their product portfolio. Growing community of both amateur and professional cycle riders has pushed the companies to reinvent their products making them safer, efficient and versatile. These developments and emerging trend have created positive impact resulting in greater market size for the cyclocross bicycles.
Key findings from the report:
- The global Cyclocross bicycle market is expected to reach 7.87 USD billion by 2024 at a CAGR of 5.01%
- Based on frame material:
° Aluminum is the widest used frameless material and is accounted to hold majority share of the market - Based on Region
° Europe held the majority of the share of the global market in 2018. Asia-Pacific is expected to exhibit highest CAGR over the forecast period - Some of the key companies operating in the market include Hero Cycles, Cube, Trek Bicycle, Avon Cycles, Merida, RazorGiant Bicycles, Subrosa, among others
Cyclocross Bicycle : Riding towards a healthy lifestyle
Cyclocross is one of the fastest growing sports in the world with number of cycling events and participant growing tremendously over the globe. Technological developments have made these bicycles light in weight with better visibility range, in turn, enhancing safety. Overall performance of cyclocross bicycles has led to its increasing adoption and is being preferred over other segments. Moreover, cyclocross riding is one of the best forms of exercise practice followed by many riders across the world. The cyclocross bicycles for exercise is fun to ride, fast, light, well made and have a versatile riding quality. Increasing adoption of cycling and awareness regarding the health benefits associated with cycling is expected to generate higher demand and would augment the market growth over the coming years.
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Regional Insight
Europe is accounted to hold the maximum share of the global market. Per capita bicycle ownership in Europe is large as compared to any other region in the world. Rising emphasis on the use of non-polluting vehicles for short distance commutes coupled with advancement and innovation in the industry has led to greater awareness and adoption of the cyclocross bicycles in the region. Asia-Pacific is expected to exhibit fast adoption rate for cyclocross bicycles and would register high CAGR over the forecast period. The Asia-pacific is the lucrative market owing to largest population base and rising disposable income promoting an increasing expenditure on health and fitness tools. Further, increasing number of cycling events and growing usage of cycle as a recreation activity in the region has led to higher demand for versatile range of cycles.
The report segments global Cyclocross bicycle market on the basis of frame material, application, tyre size, component, and region
Cyclocross bicycle Market, By Frame Material
- Aluminium
- Carbon fiber
- Titanium
- Other (Alloy)
Cyclocross bicycle Market, By Application
- Mountain Riding
- Non racing sports
- Sports
Cyclocross bicycle Market, By Tyre Size
- <30
- 31
- 32
- 33
- 34
- 35
- <35
Cyclocross bicycle Market, By Component
- Crankset
- Cassette
- Derailleur
- Brakes
- Pedal
- Tyres
- Others
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