Dublin, July 23, 2020 (GLOBE NEWSWIRE) -- The "Bicycles - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to this 19th edition of the report. The 501-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Bicycles Market to Reach US$34.6 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Bicycles estimated at US$29.2 Billion in the year 2020, is projected to reach a revised size of US$34.6 Billion by 2027, growing at a CAGR of 2.4% over the analysis period 2020-2027.
Hybrid Bicycles, one of the segments analyzed in the report, is projected to grow at a 3.1% CAGR to reach US$13.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Road Bicycles segment is readjusted to a revised 1.7% CAGR for the next 7-year period. This segment currently accounts for a 20.7% share of the global Bicycles market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 4.7% CAGR for the Period of 2020-2027
The Bicycles market in the U.S. is estimated at US$7.9 Billion in the year 2020. The country currently accounts for a 27.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.9 Billion in the year 2027 trailing a CAGR of 4.7% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.5% and 1.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.1% CAGR while Rest of European market (as defined in the study) will reach US$6.9 Billion by the year 2027.
Mountain Bicycles Segment Corners a 14.9% Share in 2020
In the global Mountain Bicycles segment, USA, Canada, Japan, China and Europe will drive the 2.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$3.8 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.7 Billion by the year 2027, while Latin America will expand at a 3.3% CAGR through the analysis period.
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Bicycles - A Prelude
- Recent Market Activity
- Global Bicycles Demand Growing at Healthy Pace
- Market Overview
- Measures to Boost Cycling Usage
- Rising Prevalence of Obesity Spurs Demand for Bicycles
- Riding the Economic Rollercoaster and Bikenomics
- Future Prospects High
- E-Bikes to Experience Massive Increase in Popularity
- Regional Usage Patterns
- Bicycle Parts and Accessories - A Review
- Smart Bicycle Accessories
- Pricing of Bicycles
- Rising ASPs - A Key Trend
- Global Competitor Market Shares
- Bicycles Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
- Cost Considerations
- Current & Future Analysis
- Hybrid Bicycles Gaining Ground
- Road Bicycles - Riding High on Technology Evolution
- Mountain Bike Segment Registers Rising Demand
- Growth Restraints
- Cycling in Developed and Developing Countries
- Developing Countries Display Strong Fondnessfor Mid-Range Bicycles
- Bike Sharing - A Latest Urban Development
- Production & Export/Import Scenario
- Taiwan - A Key Producer of High-End Bicycles
- China -To Emerge as the Hot Spot for High-End Bikes
- Impact of COVID-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Accell Group N. V. (The Netherlands)
- Currie Technologies (USA)
- Raleigh Ltd. (UK)
- Winora Staiger GmbH (Germany)
- Amer Sports Corporation (Finland)
- Atlas Cycles (Haryana) Ltd. (India)
- Avon Cycles Ltd. (India)
- Campagnolo S.r.l (Italy)
- Cycleurope AB (Sweden)
- Dorel Industries Inc. (Canada)
- Cannondale Bicycle Corporation (USA)
- Pacific Cycle Group (USA)
- Schwinn Bicycles (USA)
- Fox Factory, Inc. (USA)
- Giant (Taiwan)
- Hamilton Industries Pvt. Ltd. (India)
- Hero Cycles Ltd. (India)
- Huffy Corporation (USA)
- Merida Industry Co., Ltd. (Taiwan)
- Montague Corp. (USA)
- M S Bhogal and Sons (India)
- Santa Cruz Bicycles (USA)
- Shanghai Forever Import & Export Co., Ltd. (China)
- Shanghai Phoenix Imp. & Exp. Co., Ltd. (China)
- Shimano, Inc. (Japan)
- Specialized Bicycle Components, Inc. (USA)
- SRAM LLC (USA)
- Tandem Group plc (UK)
- TI Cycles of India (India)
- Trek Bicycle Corp. (USA)
3. MARKET TRENDS & DRIVERS
- Volatile Gas Prices Boost Bicycle Sales
- Oil Production Nearing Saturation: Stimulus for Electric-Bicycles
- Growing Focus on Traffic Congestion and Environment Issues Spur Demand
- Bicycling - A Potential Solution to Global Warming
- Reduction in CO2 Emissions and Energy Usage
- Rising Usage of Bikes in Urban Areas
- Overview of Electric Bicycles
- Demand for Electric Bicycles Gains Momentum
- Definition of E-Bicycles in Select Regions
- Impact of Technological Advancement on Bikes
- 27.5 -An Emerging Standard in Mountain Bikes Segment
- Wheels Become Stronger
- Endurance Bikes: Futuristic Trend with High Potential
- Carbon Technology - Permeating at Faster Rate
- Disc Brakes to Emerge as New Standard for Road Bikes
- Tubeless Tires Gain Steady Adoption Among Road Bikes
- Fat Tires and Rims in Vogue
- Folding Bicycles Witness Healthy Growth
- Initiatives Encourage Bicycle Riding
- Novel Sophisticated Features Improve Growth Prospects
- Growing Demand for Cars in Developing Countries Adversely Impacts Market
- Escalating Metal Prices Pressure Manufacturers
- Transforming from Traditional Manufacturing to High-tech Industry
- Aggressive Promotions Spur Market Penetration
- Distribution Channels
- Innovation Trends
- Cyclist Safety First
- Navigation Convenience
- Bike Security
- Innovations in the Bicycle Segment
- Innovative Bicycle Concepts
- Innovative Products and Solutions
- Innovations in Bicycling Ecosystem
- Innovative Options for Bicycle Parking to Promote Biking
- Innovations that Address Disaster Management Plans
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 249
For more information about this report visit https://www.researchandmarkets.com/r/wvii5t
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