Global Bicycle Market Outlook to 2027 - Players Include Abici, A- Bike, Accell, Amer Sports and Atlas Cycles - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Bicycle Market Outlook 2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the market stood at around USD 63 billion in 2021, which is anticipated to reach USD 88 billion by 2027.

Further, the market is estimated to grow at a more than 5% CAGR for the 2022-2027 period. The increase in the number of people opting for bicycling as a form of leisure is anticipated to propel market growth.

Preference for bicycles as a convenient form of exercise to ensure a healthy life free from obesity and other disorders is expected to further boost the market expansion. The popularity of dockless bicycle-sharing systems has been rising lately. This system allows users to locate a bicycle nearby and unlock it electronically. Initiated originally in Europe, dockless bicycle-sharing systems are gaining popularity, particularly in Asian nations such as India and China.

Asia-Pacific is the fastest-growing region in the global bicycle market, holding a share of over 50% in value terms in the year 2021. China, Japan, Australia, India, and South Korea are some of the top contributing countries in the region. These countries have hosted many cycling tournaments, which will increase the popularity and demand for sports bicycles. A few years ago, bicycles were indisputable icons of Amsterdam, Copenhagen, or Barcelona. However, cycles have now made their way through Latin American cities' maze of street vendors, parks, and streets that are not always apt for pedaling. Yet, the region holds the lowest share in terms of both value and volume.

While mountain bikes dominate the market by value, road bikes dominate by volume. Even though mountain bikes have a considerable fan base globally, the price of the segment is higher than the road bikes, and the demand is limited to professional and adventure riders. Thus, mountain bikes are being recorded to hold a share of over 15% by value. Moreover, rapidly progressing infrastructure spending is also taking the form of establishing e-bike recharge stations and increasing bicycle parking and hiring stations, especially near metro stations to ease multimodal transportation, thus driving the overall market.

Furthermore, recent advancements in mobile app development and the Global Positioning System (GPS) have resulted in app-based dockless bicycle-sharing systems. Moreover, the growing adoption of such dockless bicycle-sharing systems is anticipated to fuel the demand for bicycles significantly. To capitalize on market opportunities, Chinese bicycle-sharing companies are aggressively investing and expanding their operations in European countries.

This is expected to boost the market's growth in the forthcoming years. For example in the USA, people use bikes for slimming and better feeling because cycling burns 600 calories an hour, but in China or other countries people use bikes mostly for transportation needs. For these reasons in some countries bikes are especially popular.

Recent Developments:

• In September 2021, SCOTT's first gravel and adventure bike, The Addict Gravel, was given a makeover by well-known bike manufacturer and customizer, Dangerholm.
• In August 2020, Merida Industry Co., Ltd. unveiled the fourth-generation REACTO bike. The 'aero bike', which promotes ultra-low wind resistance and extreme speed, has been the most successful professional road cycling series in the last decade.
• In September 2019, Tern and Enviolo collaborated to launch a new automatic shifting system for e-bikes.

Major companies present in the market

Abici, A- Bike, Accell Group, Amer Sports, Atlas Cycles (Haryana) Ltd, Bridgestone Cycle, Caloi, Campagnolo, Cannondale, Cervelo Cycles, Cube Cycles, Curtlo Cycles, Derby Cycle, Dorel Industries Inc., Tianjin Fuji-ta Bicycle Co.,Ltd., Giant Bicycles, Hero Cycles Limited, Merida Bikes International, My Boo, Orbea Corporation, Scott Sports, Specialized Bicycle Components, Inc., STRiDA Cycles, XDS Shenzhen Xidesheng Bicycles Co., Ltd

Segment covered in the report

By Type

• Road Bikes
• Mountain Bikes
• Hybrid Bikes
• E-bikes
• Others (Kids, standard, maas)

By End User

• Men
• Women
• Kids

By Bikers Type

• Highly Engaged
• Engaged
• Leisure
• Travel

By Sales Channel

• Retail Shops (Specialized, Sport)
• Multi-brand
• Online

For more information about this report visit https://www.researchandmarkets.com/r/u4b687