Urbanization and increased incomes are boosting car sales, leading to more traffic congestion. This congestion is pushing people to opt for bicycles as a preferred mode of transport. European governments are actively promoting bicycles for commuting, therefore there has been a significant rise in bicycle rentals across Europe.
As per the forecast, between 2023 and 2027, the European Bicycle Market is projected to expand at a CAGR of 4.05%, with an anticipated growth in market size of USD 4.73 Bn.
Overview of the Europe-Bicycle Market Analysis
Rental services offer easy bicycle access without ownership hassles. Users can choose short-term or subscription-based rentals, available hourly, monthly, or yearly. Some services even allow bookings through mobile apps.
Rental providers are investing in new bicycles to meet growing demands. Accell Group NV, BH BIKES EUROPE SL, BikeCo LLC, Brompton Bicycle Ltd., Cicli Pinarello Srl, Cycleurope AB, Giant Manufacturing Co. Ltd., GOVECS AG, Kalkhoff Werke GmbH, Kona Bicycle Co., KWANG YANG MOTOR Co. Ltd., LOOK Cycle International, Marin Mountain Bikes Inc. are some of the top businesses when it comes to the Europe-Bicycle Market. Intrigued for more? Don't skip our comprehensive market report! Uncover a treasure trove of insights about the booming market.
Technavio’s analysis of the Europe-Bicycle Market also includes: