What is Bicycles Market?
A bicycle is a widely-known means of transportation in many countries. Most bicycles now have multiple shifting gears between high and low in order to increase the efficiency or to have a smoother pedaling effort. The bicycle gearing system is the most fundamental mechanism which converts a rider’s force on pedals into a driving force to accelerate bicycles. Bicycles differ in gear combination number and gear ratios. Electric bicycle are becoming the best way of transport in urban environments. The bicycle does not harm the environment, minimize energy usage because it is a human electric hybrid vehicle.
The market study is being classified by Type (Mountain Bike, Hybrid Bike, Road Bike, Cyclocross Bike, Fitness Bikes, Electric Bike and Others), by Application (Transportation Tools, Racing, Physical Training and Others) and major geographies with country level break-up.
The Bicycle Escape (United States), Hero Cycles (India), Giant Bicycle (Taiwan), Boardman Bikes, Ltd. (United Kingdom), Atlas Cycle Ltd. (India), Derby Cycle Holding GmbH (Germany), Avon Cycles Ltd. (India), Accell Group N.V (Netherlands), Dorel Industries Inc. (Canada), Merida Industry Co. Ltd (Taiwan), Tandem Group Plc (United Kingdom), Hamilton Industries Pvt. Ltd (India) and Smachuly Bicycle Co. Ltd (South Korea) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Zhonglu Co. Ltd. (China), F.I.V.E Bianchi S.p.A (Italy) and Kona Bikes (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Asian Vendors will contribute to the maximum growth of Global Bicycles market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Bicycles market by Type, Application and Region.
On the basis of geography, the market of Bicycles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increase in the Inclination for Bicycles over Motor Vehicles
- Due to Environment Concern High Demand in Developing Countries
- Rising Preference for the Bicycle as an Exercise
Market Trend
- The Copenhagen wheel was technological development in the bicycle that has a rechargeable battery within the hub and a motor that is then operated by the battery. The wheel replaces the back wheel on a bike and is controlled by the bicyclist’s smart phone. As the bicyclist pedals and brakes, energy is saved that can be used if climbing a hill or carrying heavier loads.
Restraints
- Fluctuations in Prices of Raw Materials
Opportunities
- Growing Traffic and Shortage of Parking Space
- Increasing Consumer Inclination towards Fuel Conservation
- Adoption of Advanced Bicycles and Lightweight Bicycles
Challenges
- Lack of Infrastructure in Developing Countries
- Availability of Substitute Product in Bicycle
Key Target Audience
Manufacturers of Bicycles, Suppliers of Bicycles, Wholesalers, Distributors and Retailers of Bicycles, Raw Material Suppliers, End-Users and Potential Investors