Global Bicycle Market to grow at CAGR of 3.7% for the financial period 2020-2027
The bicycle market has been projected to reach a value of US$ 69,574.6 Mn by 2027. Asia Pacific held dominant position in 2019, accounting for 63.2 % share in terms of value in Global Bicycle Market.
Key Trends
The US Green Building Council (UGBC) is supporting corporate to be leader in energy and environment design or LEED.
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Advancements in material science helped manufacturers to fabricate ultra- lightweight bicycles.For instance, in June 2016, Canyon Bicycles GmbH launched Canyon Ultimate CF SLX having the lightest frame and is one of the strongest racing bicycle
Market Dynamics
Many studies revealed that bicycling burns around 500-700 calories per hour. Increasing awareness among consumers regarding health benefits of bicycle is expected to drive the growth of bicycle market during forecast period
But unsuitability for longer distance is expected to hinder the bicycle market growth as bicycle speed is also limited compared to automobiles
Market Takeaway
Many countries around the globe have imposed nationwide lock-down which also made shortage of manpower in bicycle manufacturing facilities, leads to the decrease in demand in year 2020
Key players operating the markets are:
Giant Bicycle Inc. , Samchuly Bicycle Co. Ltd. , Atlas Cycles Ltd. , Tandem Group plc, Derby Cycle, Merida Industry Co. Ltd. , Avon Cycle Ltd. , Dorel Industries Inc. , Trek Bicycle Corporation, Xiaomi, Accell Group, Zhonglu Co. Ltd.and Tube Investment Of India Ltd.
Key Develpoments
Key companies of the market are involved in capacity and business expansion to enhance market presence. For instance, in April 2020, Avon Cycles Ltd. Inaugurated two showrooms in Ludhiana, India.
Major market players are focused on product launches for expansion of product portfolio. For instance, in March 2018, Trek Bicycle Corporation launches a collection of roads, hybrid and mountain bicycle in the Indian market.
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Market Segmentation
By Product Type: Sports, Roads, Mountain and Hybrid(Sports + Mountain)
By Technology: Electrical and conventional
By End User: Men, Women and Kids
By Price: Premium, Mid- Range and Low- Range
The US Green Building Council (UGBC) is supporting corporate to be leader in energy and environment design or LEED.
Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3910
Advancements in material science helped manufacturers to fabricate ultra- lightweight bicycles.For instance, in June 2016, Canyon Bicycles GmbH launched Canyon Ultimate CF SLX having the lightest frame and is one of the strongest racing bicycle
Market Dynamics
Many studies revealed that bicycling burns around 500-700 calories per hour. Increasing awareness among consumers regarding health benefits of bicycle is expected to drive the growth of bicycle market during forecast period
But unsuitability for longer distance is expected to hinder the bicycle market growth as bicycle speed is also limited compared to automobiles
Market Takeaway
Many countries around the globe have imposed nationwide lock-down which also made shortage of manpower in bicycle manufacturing facilities, leads to the decrease in demand in year 2020
Key players operating the markets are:
Giant Bicycle Inc. , Samchuly Bicycle Co. Ltd. , Atlas Cycles Ltd. , Tandem Group plc, Derby Cycle, Merida Industry Co. Ltd. , Avon Cycle Ltd. , Dorel Industries Inc. , Trek Bicycle Corporation, Xiaomi, Accell Group, Zhonglu Co. Ltd.and Tube Investment Of India Ltd.
Key Develpoments
Key companies of the market are involved in capacity and business expansion to enhance market presence. For instance, in April 2020, Avon Cycles Ltd. Inaugurated two showrooms in Ludhiana, India.
Major market players are focused on product launches for expansion of product portfolio. For instance, in March 2018, Trek Bicycle Corporation launches a collection of roads, hybrid and mountain bicycle in the Indian market.
Buy this Research Report @
https://www.coherentmarketinsights.com/insight/buy-now/3910
Market Segmentation
By Product Type: Sports, Roads, Mountain and Hybrid(Sports + Mountain)
By Technology: Electrical and conventional
By End User: Men, Women and Kids
By Price: Premium, Mid- Range and Low- Range
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