Global Bicycle Market Forecast Report 2023-2030: Innovations and Growth: Specialized Bicycle Components Steer Bicycle Market Growth
Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Bicycle Market by Product (Cargo Bikes, Hybrid Bikes, Mountain Bikes), Technology (Conventional, Electric), Distribution Channel, End-user - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to * ResearchAndMarkets.com's* offering.
The Global Bicycle Market size was estimated at USD 81.99 billion in 2022, USD 88.27 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.11% to reach USD 153.07 billion by 2030.
In this report, 2018 to 2021 are considered as historical years, 2022 is the base year, 2023 is the estimated year, and years from 2024 to 2030 are considered as the forecast period.
The report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share.
The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
*Market Segmentation & Coverage:*
This research report categorizes the Global Bicycle Market in order to forecast the revenues and analyze trends in each of the following sub-markets:
· Based on Product, the market is studied across Cargo Bikes, Hybrid Bikes, Mountain Bikes, and Road Bikes. Road Bikes is projected to witness a significant market share during the forecast period.
· Based on Technology, the market is studied across Conventional and Electric. Electric is projected to witness a significant market share during the forecast period.
· Based on Distribution Channel, the market is studied across Offline and Online. The Offline is projected to witness a significant market share during forecast period.
· Based on End-user, the market is studied across Kids, Men, and Women. Women are projected to witness a significant market share during forecast period.
· Europe, Middle East & Africa is projected to witness significant market share during the forecast period.
*Market Dynamics*
Drivers
· Increasing health consciousness among population
· Easy availability of different types of bicycles
· Rise in the use of bicycles by travelers and tourists
Restraints
· Fluctuating cost of raw materials
Opportunities
· Advances in bicycle production technology
· Improvements in government infrastructure for bicycle riding
Challenges
· Availability of alternatives
*The report provides insights on the following pointers:*
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
*Competitive Portfolio*
· Avon Cycles Ltd.
· Cervelo Cycles Inc.
· Cycling Sports Group, Inc.
· F.I.V. E. Bianchi S.p.A.
· Factor Bikes
· Giant Manufacturing Co., Ltd.
· Huffy Corporation
· Marin Mountain Bikes Inc.
· Pure Fix Cycles
· Raleigh Bicycle
· Salsa Cycles
· Santa Cruz Bicycles, LLC
· SCOTT Sports SA
· Specialized Bicycle Components, Inc.
· TI Cycles India Limited
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 191
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $88.27 Billion
Forecasted Market Value (USD) by 2030 $153.07 Billion
Compound Annual Growth Rate 8.1%
Regions Covered GlobalFor more information about this report visit https://www.researchandmarkets.com/r/c9pp3m
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global Bicycle Market
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