LONDON, Dec. 13, 2021 (GLOBE NEWSWIRE) -- The definition of urban mobility is being redefined with immediacy as fuel prices and traffic congestion emerge as key issues hampering commute. This sentiment has been the precursor for the sudden rise of the global bicycle market. Fairfield Market Research predicts that the global market will benefit from the growing number of cyclists as fitness becomes a top priority as the COVID-19 outbreak highlights the perils of comorbidities. The global bicycle market has garnered recent enthusiasm as the end users realise the myriad benefits of regular cycling and its cost-efficiency.
According to Fairfield Market Research, the global bicycle market is expected to be worth US$100.8 Bn by 2026 from US$42.4 Bn in 2018. Between the forecast years of 2021 and 2026, the bicycle market across the globe will register a noteworthy CAGR of 12.7%. A statement on June 03, 2021 by the World Health Organization that bicycles are an equal mode of transport as any other is expected to give the commodity a major push in simplifying mobility.
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Use of e-Bikes for Delivery Fleets Drives Global Bicycle Market
The growing number of delivery services are opting for e-bikes to build fleets. This move comes pressure to reduce emissions mounts on every company. These bikes are easier to ride and do not require a driving licence. E-bikes save money on a lot of aspects such as parking fines, speeding fines, maintenance charges, and most importantly fuel charges. These benefits have lured in last mile delivery players towards investing in e-bike fleets, which will ensure a green delivery model in the long run. As governments invest in charging infrastructure it will build consumer confidence, shifting attention towards e-bikes over conventional ones.
Dockless Bike Sharing Systems Draw Attention of Younger Generation
The dockless bike-sharing systems are gaining sonic popularity in urban landscapes. Investments by local authorities towards adding cycling tracks is also encouraging citizens to turn to cycling to destinations. This system allows cyclists to pick up and drop off bicycles easily as it eliminates the compulsion of doing so at specific docking stations. This not only reduces the expense of a docking station but also gives non-bicycle owners the chance to use the simple mobility option at an extremely affordable price. The popularity of dockless bike-sharing systems is expected to give the global bicycle market an impetus as interest in cycling for fitness, exercise, recreation, sports, and commute intensifies.
Asia Pacific Shows Excellent Promise as Traffic Congestion Becomes an Unmovable Hurdle
Countries such as India and China are expected to be key contributors to the burgeoning Asia Pacific bicycle market between the forecast years of 2021 and 2026. This will be driven by the working class that continues to rely on bicycles as an effective means of transport. Soaring fuel prices and rising emissions due to vehicular pollution have created a strong case for bicycle sales in these fast-developing economies. The hours spent in traffic congestion is also furthering the agenda of bicycle usage for commute in several metros. The growing awareness about fitness as gyms were shut down with the outbreak of COVID-19 has also propelled the use of bicycles in Asia Pacific in the past two years. Fairfield Market Research suggests that the regional market will continue to foster due to these reasons.
Some of the key players operating in the global bicycle market are Trek Bicycle Corporation, Accell Group, Giant Bicycles, Dorel Industries Inc., and Merida Industry Co., Ltd.
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REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Product Coverage |
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| Technology Coverage |
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| End-Use Coverage |
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| Distribution Coverage |
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| Geographic Coverage |
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| Leading Companies |
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| Report Highlights | Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis, Key Trends |
Detailed Table of Content
1. Executive Summary
1.1. Global Bicycle Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions
2.2. Market Taxonomy
2.3. Market Dynamics
2.4. Value Chain Analysis
2.5. Porter’s Five Forces Analysis
2.6. COVID-19 Impact Analysis
2.7. Key Patents
3. Global Bicycle Market Outlook, 2018 - 2026
3.1. Global Bicycle Market Outlook, by Product Type, Value (US$ ‘000), 2018 - 2026
3.2. Global Bicycle Market Outlook, by Technology, Value (US$ ‘000), 2018 - 2026
3.3. BPS Analysis/Market Attractiveness Analysis
3.4. Global Bicycle Market Outlook, by End-User, Value (US$ ‘000), 2018 - 2026
3.5. Global Bicycle Market Outlook, by Distribution Channel, Value (US$ ‘000), 2018 - 2026
3.6. Global Bicycle Market Outlook, by Region, Value (US$ ‘000), 2018 - 2026
4. North America Bicycle Market Outlook, 2018 - 2026
4.1. North America Bicycle Market Outlook, by Product Type, Value (US$ ‘000), 2018 - 2026
4.2. North America Bicycle Market Outlook, by Technology, Value (US$ ‘000), 2018 - 2026
4.3. BPS Analysis/Market Attractiveness Analysis
4.4. North America Bicycle Market Outlook, by End-User, Value (US$ ‘000), 2018 - 2026
4.5. North America Bicycle Market Outlook, by Distribution Channel, Value (US$ ‘000), 2018 - 2026
4.6. North America Bicycle Market Outlook, by Country, Value (US$ ‘000), 2018 – 2026
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