Global Bicycle Industry Report was valued at USD 47.5 Billion in the year 2017. Global Bicycle Industry is further estimated to grow at a CAGR of 6.2% from 2019 to reach USD 80 Billion by the year 2025. The bicycle Industry report is segmented into two parts – By Product Type, End User and Distribution Channel. The Product Type segment is divided into mountain cycle, cyclo-cross cycle, track bicycle and road racing bicycle. Mountain bicycles contribute to the highest Industry share. The end user, segment, is divided into adult and kids. Adult’s sports bicycle segment has the highest share in the Industry as a result of government initiatives to encourage cycling and rise in participation of products specifically for women.
Major market players in Bicycle Industry are Accell Group, Dorel Industries Inc., Giant Manufacturing Company Ltd, GUANGDONG TANDEM INDUSTRIES, Insera Sera, MERIDA, Yeti Cycles, Marin Cycles, cannondale, Trek Bicycle Corp, and brief overview of 10 companies is also provided in the report.
The distribution channel is divided into three segments- Retailers, Online and Departmental Stores. Departmental stores have the highest share in the Industry. Among all, it is expected that the adult’s sports bicycle segment will be growing at a moderate CAGR of xx% in the assessment period.
SWOT Analysis of Bicycle Industry:
Collaboration with e-commerce websites
Consumer shifting preference to cycling as a sport or leisure activity
Awareness towards personal health and environment
Increasing Industry of refurbished bicycles
High cost of products
Technological advancements – innovative bicycles and industries
Growing population of unisex bicycles
Introduction of ultra-lightweight bicycles
Intense competition has developed among the producers.
By region, the global bicycle Industry is segmented as North America, Europe, Asia Pacific and Rest of the world. North America region holds the highest Industry share in 2017 and the Asia Pacific is considered as the fastest growing Industry in the forecasted period. At a country level, China is projected to grow strongly in the coming years.
Bicycle Industry Segmentation:
By Distribution Channel
• Departmental Stores
By Product Type
• Mountain bicycle
• Cyclo-cross bicycle
• Track bicycle
• Road racing bicycle
By End Use
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East & Africa