According to a new market report published by Lucintel, the future of the global bicycle market looks good with opportunities in e-bikes, road/standard, mountain terrain bike (MTB)/racing, and kid’s bicycle segments. The global bicycle market is forecast to grow at a CAGR of 2.4% from 2016 to 2021. The major growth drivers of this market are increasing fitness consciousness among people, increasing concern towards environment, increasing traffic congestion, and government programs to promote cycling.
In this market, road/standard, MTB/racing, Kids, e-bikes are some of the major segments of bicycle industry. On the basis of comprehensive research, Lucintel predicts that the demand for e-bike is expected to show the highest growth in the forecast period. E-bikes are popular in many countries as a green means of transportation.
Within the global bicycle market, e- bikes segment is expected to be the largest segment because these bicycles fulfill user’s need of low-cost transportation and in many parts of the world electric-power bicycles are considered as green transportation.
Asia Pacific is expected to remain the largest region during forecast period supported by huge population and increasing usage of bicycle as a sustainable mode of transportation.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of folding electric bicycles and increasing demand of bicycles with better safety feature and appearance. Giant Manufacturing Co. Ltd., Accell Group N.V, Merida Industries Co. Ltd., and Dorel Industries Inc. are among the major suppliers of bicycles.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bicycle industry by bicycle type and region and has come up with a comprehensive research report entitled, “Growth Opportunities in the Global Bicycle Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global bicycle industry by bicycle type and region as follows:
By Bicycle Type (Value $ Billion from 2010 to 2021):
· Road/Standard Bicycle
· MTB/Racing Bicycle
· Kids Bicycle
· E-bikes
· Others
By Region (Value $ Billion from 2010 to 2021):
· North America
· Europe
· Asia Pacific
· The Rest of the World
This 120-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/bicycle_market_2016_2021.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.