DUBLIN–(Enterprise WIRE)–The “Bicycle Current market – Expansion, Developments, COVID-19 Influence, and Forecasts (2021-2026)” report has been extra to ResearchAndMarkets.com’s supplying.
The world-wide bicycle current market was projected to sign up a CAGR of 4.29% through the forecast time period (2021-2026).
The profits of bicycles witnessed a slump to begin with owing to the closure of offline outlets across international locations because of to the COVID-19 pandemic limitations. Nevertheless, the desire for bicycles begun picking up not too long ago with a major growth in the number of people making an attempt to stay clear of general public transportation owing to anxiety of contracting the virus.
Moreover, with the rising overall health-consciousness among the people, bicycles are now found as an significantly dependable and wholesome mobility possibility. For instance, the Dutch e-bicycle brand name VanMoof has noticed a substantial increase in product sales simultaneous to the COVID-19 outbreak in Europe and, latterly, the United States.
Moreover, as per the United Kingdom Bicycle Affiliation, amongst April and June 2020, bicycle gross sales elevated by 63% calendar year-on-calendar year. Profits were being strongest for bikes under GBP 1,000, though GBP 1,000+ e-bikes also did nicely (from a very low foundation) with a product sales enhance of 150%.
Around the medium term, an raising number of biking events and favorable authorities and employer initiatives are envisioned to drive the industry studied. Furthermore, different governing bodies in the European, Asia-Pacific, and African nations, significantly in South Africa, encourage highway racing, touring and leisure cycling, keep track of racing, off-highway racing activities, and mountain cycling events.
Apart from the European area, in nations, like China and Japan, e-bikes have developed in prominence. Some of the main reasons considered for adopting and driving e-bikes all over the globe are their overall health advantages, avoidance of targeted traffic congestion, environmental benefits, and the boost in desire for e-bikes as athletics gear.
Additionally, with constant technological enhancements, the vital brands, these as Accell Group and Large Producing Co., are focusing on maximizing the total person interface by developing and establishing bicycles that can integrate with the rider’s smartphone and offer actual-time information and facts of the pace and battery position, therefore bolstering the industry advancement above the forecast period.
Critical Market place Traits
Growing Range of Biking Occasions
An increasing software base of bicycles in trekking and leisure actions, coupled with a climbing range of cycling gatherings, is anticipated to propel the need for bicycles in the two standard and sports bicycles. The rising affect of celeb endorsement and growing media protection for this sort of situations are expected to more gas marketplace development.
Moreover, many governing bodies in European nations around the world, such as Biking Eire, encourage road racing, touring and leisure biking, monitor racing, and off-highway racing functions. For instance, according to the Irish Sports Council, investments created by Sport Eire towards Biking Ireland increased from EUR 292.5 thousand in 2015 to EUR 440 thousand in 2019, which encouraged the involvement of customers in several cycling pursuits in Eire.
In a different occasion, Seville’s Bicycle Pageant of Southern Europe aims to raise awareness about biking, which had its 21st version in 2018, with additional than 4,000 members. The top goal of the event was to raise recognition about biking and improve the uptake of cycling within the city. These awareness strategies also boost the progress of the industry examined. Also, global athletics functions, these types of as cycling championships, also really encourage the involvement of buyers in biking, in switch, driving the marketplace advancement.
Expanding Desire for Bicycles from Asia-Pacific
Asia-Pacific is the largest and also the speediest-increasing area in the world bicycle market place. China, Japan, Australia, India, and South Korea are some of the top contributing countries in the region. Also, these international locations have begun hosting a lot of cycling tournaments, which, in turn, might raise the acceptance and demand for sports activities bicycles.
For instance, the Asian Biking Championships is an annual continental biking championship for street bicycle racing and monitor biking given that 1963, exclusively for Asian cyclists chosen by the countrywide governing human body. In addition, there is a rise in women’s participation price and federal government initiatives that are possible to strengthen the desire for bicycles in the area. Owing to this sort of amplified demand, bicycle companies in the industry are launching revolutionary bicycles and add-ons, which will guide to major market place progress all through the forecast time period.
The bicycle industry is a fragmented and really aggressive market place comprising of numerous global and regional players. Important players in the current market include Large Manufacturing Co. Ltd., Accell Group, Trek Bicycle Company, Dorel Industries Inc., and Pon Holdings BV. These critical players are venturing into manufacturing of progressive bicycles, embarking on partnerships with other players, mergers & acquisitions and shaping up their on the internet and offline-marketing approaches, to broaden their existence in the worldwide arena.
The corporations are also leveraging on the increased on the net distribution channel. Also, organizations are diversifying their bicycle portfolios by launching bicycles, which are remaining targeted precisely toward ladies riders and youngsters, thus, earning them a lot more consumer-centric.
Critical Subjects Lined
1.1 Research Assumptions and Sector Definition
1.2 Scope of the Research
2 Investigation METHODOLOGY
3 Executive SUMMARY
4 Marketplace DYNAMICS
4.1 Current market Motorists
4.2 Market Restraints
4.3 Porter’s 5 Forces Evaluation
5 Industry SEGMENTATION
5.1 By Sort
5.1.1 Road Bicycle
5.1.2 Hybrid Bicycle
5.1.3 All Terrain Bicycle
5.1.5 Other Forms
5.2 By Distribution Channel
5.2.1 Offline Retail Shops
5.2.2 On the internet Retail Suppliers
5.3 By Geography
5.3.1 North The usa
5.3.4 South The us
5.3.5 Center-East & Africa
6 Aggressive LANDSCAPE
6.1 Most Active Corporations
6.2 Most Adopted Approaches
6.3 Market Share Examination
6.4 Enterprise Profiles
6.4.1 Accell Team
6.4.2 Trek Bicycle Corporation
6.4.3 Dorel Industries Inc.
6.4.4 Pon Holdings BV
6.4.5 Giant Production Co. Ltd.
6.4.7 Pedego Inc.
6.4.8 Benno Bikes LLC
6.4.9 Ribble Cycles
7 Current market Opportunities AND Foreseeable future Tendencies
8 Effect OF COVID-19 ON THE Market
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