Maximize Market Research, a leading Automotive and Transportation business consultancy and research firm has published a report on the “Global Bicycle Market”. The total market opportunity for Global Bicycle Market was USD 70.49 Bn in 2023 and is expected to grow at a CAGR of 9.8 percent through the forecast period, reaching USD 135.63 Bn by 2030. As per the report, the global Global Bicycle Market is expected to be dominated by the North American and European regions to grow at a significant growth rate through the forecast period.
Global Bicycle Market Report Scope and Research Methodology
Market Size in 2023: USD 70.49 Billion
Market Size in 2030: USD 135.63 Billion
CAGR: 9.8 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 225
No. of Tables: 155
No. of Charts and Figures: 184
Segment Covered: By Product, Design, Technology, End User and Distribution Channel.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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Global Bicycle Market Scope and Research Methodology
The Global bicycle market uses a bottom-up approach to calculate the industry’s size and growth, thoroughly examining the competitive landscape and market structure. Important conclusions include factors influencing regional and worldwide market growth, obstacles to further expansion, and prospective advantages brought about by advances in technology. Insights regarding market leaders, penetration, and demographic influences on the industry are obtained through regional analysis. A deeper understanding of target markets, producers, and the creation of customized advertising campaigns are made possible by the market’s segmentation into product and age groups. To examine the rivalry among market leaders and recent entrants in the global bicycle market, a competitive matrix is developed. With regard to revenue, financial standing, technological advancements, recent developments, mergers, partnerships, collaborations, and marketing strategies, the report gives a synopsis of each company.
Global Bicycle Market Overview
The Global bicycle Market manufacturing industry is evolving fast thanks to the source of power and advancement in technology. There has been immense supply of bicycles lately because people are traveling differently thereby raising health awareness among individuals while the same population also boast of their knowledge on environmental conservation matters. With an increase in consciousness about the environment, people are increasingly deciding to use bicycles rather than cars and other means of transport that also include motorcycles. Bicycles are a practical, entertaining, and environmentally friendly type of transportation these are gaining popularity among urbanites and fitness enthusiasts. Bicycle events such as the Tour de France and the Ronde van Vlaanderen helped to make bicycles use popular. The growing number of Bicycle competitions in Asia, Africa, and the Middle East is contributing as a driver in the growth of road and mountain bike sales.
Global Bicycle Market Dynamics
The Government is focusing on Building a cycling infrastructure to boost the growth of Bicycle Market because of many reasons. This make it seem that promoting cycling help towards other environmental efforts such as cutting on carbon dioxide’s quantities in the atmosphere and stopping pollution that clogs our airways besides affecting weather patterns which eventually leads into global warming. Encouraging physical activity and reducing sedentary lifestyles by investing in cycling infrastructure promotes public health. This lead to possibilities of saving on medical expenses because of illnesses linked to excess weight such as obesity or heart complications.
Global Bicycle Market Regional Insights
In the year 2023, the bicycle market was dominated by the Asia Pacific region (APAC). This part of the world has got a huge population hence constituting a larger market for bicycles especially when countries such as China and India with large populations are taken into account. The study has shown that there are more than half of the global population living in the regions of Asia around 4.3 Billion people’s this becomes a driver for the Bicycles Market Growth.
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Global Bicycle Market Segmentation
By Product:
By Product, road bicycles was the most dominant category in 2023. What makes them so popular is their versatility, efficiency and preference among all levels of cyclists. These bikes are made specially for high velocity and low drag performance on smooth surfaced roads hence they work well in a transportation situation, when one wants to train by cycling such as athletes do, riding very fast or traveling over long distances. Technological advancement facilitated the production of racing bicycles constructed using light substances and streamlined shapes enhancing acceleration while cornering.
By Design:
By Technology:
By Distribution Channel:
Global Bicycle Market Key Competitors include:
North America
Europe
Asia-Pacific
South America
Key questions answered in the Global Bicycle Market are:
Key Offerings:
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Bus Market – Global Bus Market size was valued at USD 17.35 Billion in 2023 and is expected to grow at a CAGR of 7.1 % from 2024 to 2030 to reach USD 28.04 Billion by 2030. The global market has been experiencing rapid growth over the years. The growing urbanization, growing population and the need for sustainable transportation solutions are majorly increasing the demand for buses.
Automotive Manufacturing Equipment Market – The Automotive Manufacturing Equipment Market size is valued at USD 7.5 Billion in 2023 and is forecast to grow at a CAGR of 11.3% from 2024 to 2030, reaching nearly USD 15.87 Billion. The automotive manufacturing equipment market encompasses the industry involved in supplying machinery and equipment used in automobile production.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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