Bicycle Market 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 analysis

While regular bikes stay across the board, E-bicycles are quickly picking up mileage in the more extensive schemes. In developed nations dedicated bike paths are being developed to improve riding knowledge and urge individuals to change to bikes for short-distance travelling. Factors, for example, rising prevalence of e-bicycles, expanded worries over CO2 outflow and solid government sponsorship will keep on supporting the development of the global bicycle market. In the interim, expanded focus on improving the execution of E-bicycles is provoking the commuters to utilize such rides for travelling longer distances. However, adoption of bikes in developing nations is slower because of absence of awareness and poor street foundation. There is a developing urgency of decreasing CO2 emanation and bikes are probably going to assume an essential job in viably handling the issue. The global bicycle market is expected to register a growth rate of 5.02% CAGR during the forecast period 2018 to 2023.

Market segmentation

The global Bicycle Market is segmented on the basis of its type, application and regional demand. Based on its type, the market is classified into conventional bikes and e-bikes. On the basis of its application, the market is bifurcated into recreation, racing and transportation tools.

Regional analysis

Geographically, the global Bicycle Market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

Tianjin Fuji-ta Group Co., Ltd,. Avon Cycles, Trek Bicycle Corporation, Derby Cycle, Cannondale, Giant Bicycles, Accell Group, Merida, Moustache Bikes, F.I.V.E. Bianchi SpA, Easy Motion USA, specialized Bicycle Components and NYCeWheels Inc, Hero Cycles Limited, Tube Investments of India Limited, among others are some of the major players in the global Bicycle Market.