"Bicycle Adventures: Navigating the Market Landscape"

 The global bicycle market in 2022 was US$ 1,300 million and is estimated to be US$ 2,650.23 million in 2023. The bicycle market is expected to increase at a CAGR of 8.92% between 2023 and 2033, totaling around US$ 6,229.4 million by 2033.

The increase in global bicycle market rises as customers prefer bicycles as a form of leisure increase. Maintaining an active and healthy lifestyle, and a life free from numerous ailments, bicycles are considered to be a handy method of exercise that is in great demand among consumers.

Fueling Success: Discover Market Trends and Forecasts for Bicycle Market in Our Informative Sample Report: 
https://www.futuremarketinsights.com/reports/sample/rep-gb-15196

Expansion in the demand for bicycles is rising globally as a result of a boost in public awareness of the health benefits of cycling. Dockless bicycle-sharing programs are gaining popularity at a significant pace among the general public, which is anticipated to support the expansion of the world bicycle market.

Key Takeaways from the Bicycle Market Study

  • The global bicycle market expanded at a CAGR of 7.42% between 2018 and 2022.
  • Based on the product segment, the road bicycle market had a revenue share of 70%.
  • Under the end-user segment, men sector held a significant bicycle market share at 75%.
  • Based on the technology segment, the conventional sector dominates the market share of 80%.
  • North America is forecasted at a market share of 42.8%.
  • Europe’s market is anticipated to increase with a market share of 38.4% in the bicycle market.

“Developments in GPS technology and Mobile App development is one of the key drivers of the bicycle market”, comments a Future Market Insights analyst.

Market Competition

Key players can create and advertise new, better goods at high price points to obtain a continuous competitive edge in the bicycle market. Additionally, a few significant bicycle market players are increasing their bicycle market share by choosing techniques including mergers and acquisitions, partnerships, and collaborations.

Key Players Profiled in the Bicycle Market

  1. Accell Group
  2. Atlas Cycles (Haryana) Ltd.
  3. Avon Cycles Ltd.
  4. Cervelo
  5. Dorel Industries Inc.
  6. Giant Bicycles
  7. Merida Industry Co., Ltd.
  8. Specialized Bicycle Components, Inc.
  9. SCOTT Sports SA
  10. Trek Bicycle Corporation

For more insights: https://www.futuremarketinsights.com/reports/bicycle-market

Recent Developments Contributing to the Growth of the Bicycle Market

  • Yulu is an app-based platform that offers on-demand bicycle/e-bike rentals in a few Indian cities. Through a mobile app, the business offers GPS and Bluetooth-enabled bicycles and electric bikes for rent. By scanning the QR code on the bicycle to unlock it, the user can ride after viewing nearby available bicycles on the app.
  • Pony is an app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

Comments

Post a Comment

Popular posts from this blog

Automotive Wheel Bearing Aftermarket Share On Major Suppliers, Business Standards, And Technology Trends In-Depth

  The global   automotive wheel bearing aftermarket size   is set to witness an impressive growth rate of 4% over the forecasted years of 2022 to 2032. The contact market size is anticipated to reach a valuation of around US$ 58.8 Billion by the end of year 2032 from the current valuation of US$ 39.75 Billion in 2022. Key Takeaways from Automotive Wheel Bearing Aftermarket Study   The overall growth of the global automotive wheel bearing aftermarket is estimated to be around US$ 19 Billion over next ten forecast years ending in 2032, by following the global CAGR of 4%. According to the different end use applications of automotive wheel bearing, the segment with the fastest-growing vehicle type by far is the passenger automobile. As in automobile industry, there has been an impressive growth in demand for thrust bearings in last couple of years. On the basis of components, the automotive wheel bearing aftermarket is now led by tapered roller bearing, and this position...
Read more

Automotive Brake System Market Potential Growth, Demand And Analysis Of Key Players Analysis Forecasts To 2032

The global  automotive brake system market  is expected to reach a valuation of US$ 29,548.6 Million in 2032, with sales growing at a stellar CAGR of 16.9% from 2022 to 2032. Scaling up from an estimated value of US$ 6,113.2 Million in 2022, the target market is likely propelled by the surge in consumer demand and the heightened spending on automobiles.  All braking systems apply the force of friction in order to function. Friction resists the relative movement of the bodies that are in touch with each other. The force of friction relies upon the properties of surface materials in contact as the friction force pushes them together to attain a braking impact. Owing to the escalation in road traffic accidents, this braking motion is crucial in automobiles. Thus, the automotive brake system market is expected to register considerable growth over this observation period. The automotive industry will experience bright market prospects in both developed and developing economies...
Read more

Electric Motor Horn Market Share On Major Suppliers, Business Standards, And Technology Trends In-Depth

 The global  Electric Motor Horn Market  is anticipated to grow at a robust CAGR of around 5.7% during the forecast period from 2022 to 2032. The global market is expected to be valued at US$ 35.1 Billion in 2022 and reach an estimation of around US$ 56.3 Billion by 2032. Due to increasing public awareness of road safety, the market is expected to develop due to the increased use of electric motor horns in the automotive sector. According to Future Market Insights' estimate, the growing production of new cars and the continued expansion of the automotive industry would boost sales of electric motor horns. These are some of the key elements driving the expansion of the global market. One example of a device that effectively transforms electrical energy into mechanical energy is an electronic motor horn. These horns work effectively to produce noises that are created due to mechanical energy based on electromagnetic principles. These horns are frequently used as alerting de...
Read more