Authored By: Sarah
11 Nov 2023

  Market Revenue of USD 22693.71 Mn is forecasted for the Bicycle Market through 2023-2027  

The Bicycle Market is expected to develop at a compound annual growth rate (CAGR) of 6.32% between 2022 and 2027, with a predicted increase of USD 22,693.71 million. The market's growth drivers are influenced by a number of variables, such as the rise in bicycle sports competitions, the advantages riding has for one's health, the environment, and the economy, as well as government programs and regulations that support bicycling.

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Bicycle Market  Analysis at a Glance

Navigating through the Bicycle Market growth drivers of the market it has been observed 

  • The rising number of bicycle sports events is leading the market advancement of the Bicycle Market such as Bicycle sports events include amateur and professional races that are generally held in Europe, the US, and Asia.
  • Technological advancements such as demand for titanium-based bicycles are the key trend driving the market growth due to its high tensile strength, inherent flexibility, and low elastic modulus titanium allows the frames of bicycles to stay strong for a longer period of time and handle the external impact.

Key Companies of the Bicycle Market: Some of the prominent key companies of Bicycle Market that needs worth mentioning are the Accell Group NV, BH BIKES EUROPE SL, Cicli Pinarello Srl, DAHON North America Inc., Kalkhoff Werke GmbH, Tube Investments of India Ltd., Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Klever Mobility Europe GmbH, Kona Bicycle Co.etc that comes with wide range of offerings.

Merida Industry Co. Ltd. offers bikes, e-bikes, and components for mountains and different terrains. Domestic operations, the company operates the manufacturing and sale of products in Taiwan. It also operates the manufacturing and sale of products in Europe. Our report includes qualitative and quantitative analyses of companies with a wider understanding of the business ecosystem.

Technavio's report captures the growth trajectory of the market and is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Obtain an in-depth research synopsis outlining the bicycle market's state.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of almost 6.32%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 22693.71 Mn through 2023-2027.

  3. What is a key factor driving this market?
    The increasing number of bicycle sports events will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    APAC, Europe, North America, South America, and the Middle East and Africa are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    51% growth will originate from APAC
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