“Bicycle Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global Bicycle Market in terms of market segmentation product type, technology, distribution channel, end-user, and by region.

Bicycle Market Statistics –

• The market size is projected to record a valuation of over USD 130 Billion by 2033
• The Bicycle Market is slated to observe 7% growth rate through 2023-2033

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Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global Bicycle Market is anticipated to grow with a CAGR of ~7% during the forecast period, i.e., 2023-2033. The market is segmented by technology into conventional and electric. Out of these segments, the electric segment is anticipated to garner the largest market share over the forecast period, owing to the increasing demand for e-bikes. In addition, rising awareness about the potential benefits of using e-bike in conserving fossil fuels is also expected to boost the growth of the segment in the coming years.

The global bicycle market is estimated to garner a moderate revenue by the end of 2033, backed by the increasing number of bicycles worldwide. Various features provided by bicycles, which includes transportation, recreation, and sport are also projected to boost sales of bicycles in the coming years. Moreover, increasing health benefits awareness as well as surge in the spending on cycling infrastructure is also projected to propel the growth of the market during the forecast period.

Major players include in the Global Bicycle Market:

• Accell Group
• Avon Cycles Ltd.
• Shimano Inc.
• Trek Bicycle Corporation
• Scott Sports SA
• Canyon Bicycles GmbH
• Merida & Centurion Germany GmbH
• UrbanTerrain

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Geographically, the global bicycle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is estimated to garner the largest market share over the forecast period, owing to the rising penetration dockless bike sharing systems. Apart from this, the market in Europe is anticipated to register significant growth in the coming years.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Demand for Bicycles to Drive the Market Growth

According to the data, by 2050 the number of bicycles is expected to reach around 5 billion worldwide.

The growing use of bicycle is expected to accelerate the market growth in the coming years, as people are becoming more aware and conscious about the benefits of cycling on health, environment and planet earth as a whole. Moreover, the increasing technological advancements as well as the rising demand for mountain bikes and other types of bicycles are also expected to drive the growth of the global bicycle market during the forecast period.

However, the concern for unsafe cycling infrastructure along with availability of alternate high-speed transport solutions are expected to operate as key restraints to the growth of global bicycle market over the forecast period.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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