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April 13, 2020, 1:10 p.m. EDT

Bicycle Market Analysis, Industry Size, Regional Outlook, Competitive Strategies and Forecasts, 2020 To 2023, Focusing On Top Key Players

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Apr 13, 2020 (Heraldkeepers) -- Bicycle Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Type (e-bikes and conventional bikes), Application (racing, transportation tools and recreation) and Region (North America, Europe and Asia Pacific (APAC)) - Global Forecast 2023

Market Research Future (MRFR), in its recently published research report, asserts that the global bicycle market 2020 is expected to record a substantial market valuation from USD 47.5 billion in 2017 to USD 63.5 billion by 2023-end at a healthy 5.02% CAGR in the forecast period.

The key market players operating in the global bicycle market as identified by MRFR are –

Giant Bicycles, Tianjin Fuji-ta Group Co., Ltd., Cannondale, Derby Cycle, Accell Group, Tube Investments of India Limited, Merida, Moustache Bikes, FIVE Bianchi SpA, Easy Motion USA, Trek Bicycle Corporation, specialized Bicycle Components, Avon Cycles, Hero Cycles Limited, NYCeWheels Inc.

Know More About COVID-19 Outbreak Impact on this Report

Get a FREE Report Sample with Table of Contents and Figures @ https://www.marketresearchfuture.com/sample_request/6928

Drivers and Restraints

Increased government effort to encourage cycling use has been reaping benefits. Worldwide, there are rising numbers of bicycle users. In several nations, including the US, China and some European countries, authorities are making efforts to raise awareness about health and environmental benefits. Moreover, on the global bicycle industry, more strict regulatory regulation on CO2 emissions has favorably reflected. The level of understanding of environmental degradation due to excessive carbon emissions allows people to implement long-term sustainable transport systems. This is consequently driving the popularity of vehicular systems that are developed using clean technology such as E-bikes. The high price of crude oil partially affects the global demand for bicycles. Owing to many socioeconomic causes, the price of crude oil continues to trend upward. It moves the emphasis on more feasible transport options, which do not rely on internal combustion engines. Factors as such, impact the global bicycle market positively.

Intended Audience

  • Bicycle Manufacturers

  • Bicycle Subcomponent Manufacturers

  • Bicycle Distributors/Traders/Wholesalers

  • Downstream Vendors

  • Industry Association

Segmental Analysis

the global bicycle market is analyzed based on type and application. On the basis of type, the bicycle market has been bifurcated into E-bikes and conventional bikes. The conventional bikes segment currently accounts for the most significant market share. In 2017, the segment captured a market share of more than 55%. Over the forecast period, the segment is set to expand at 4.24% CAGR and reach a valuation in excess of USD 33 billion. Moreover, the E-Bike segment is expected to witness a rapid CAGR of 5.94%. E-bikes are easy to ride and relatively less physical force as compared to conventional bikes.

On the application, the global bicycle market has been segmented into racing, recreation, and transportation tools. The recreational segment is anticipated to remain highly favorable during the assessment period.

Regional Analysis

The geographical overview of the global bicycle market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).

Asia Pacific was the largest market share in 2017, with an estimate of over USD 23 billion. Over the forecast period, the area is also predicted to experience the fastest CAGR. China and India are actively working to address rising rates of air pollution by encouraging environmentally friendly transport solutions such as bicycles. Europe holds second place in the analysis period and is expected to offer lucrative opportunities to market players.

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