Electric/Conventional Bicycles Market 2022
Growing popularity of electric bicycles, coupled with a surging number of national as well as international cycling events, is likely to bring in lucrative opportunities to the stakeholders in global bicycle market. With a hastily soaring number of conscientious consumers, electric bicycle will represent an attractive segment throughout the assessment period, 2022 to 2032. China is expected to be the key contributor in electric bicycle demand and supply for upcoming years. Most of the key vendors are prioritizing new product launches, especially electric and adventure/mountain bicycles.
The global Electric/Conventional Bicycles Market is currently valued at more than US$ 62 Bn. Sales of bicycles are slated to increase at a value CAGR of around 5.8% from 2022 to 2032. to reach a revenue of more than US$ 109 Bn by 2032.
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Bicycling is favored by a majority of health-conscious individuals as well as a recreational sport. Bicycles are not only good at combating obesity and digestive issues but are also cost-efficient. These advantages have been recognized by developing economies who have been promoting bicycling on a war footing.
- Giant Bicycles Inc.
- Atlas Cycles Ltd
- Derby Cycle Holding GmbH
- Trek Bicycle Corporation
- Avon Cycles Ltd.
- Zhonglu Co., Ltd
- Accell Group N.V.
- Tube Investments of India Limited
- Dorel Industries Inc.
- Merida Industry Co., Ltd
- Tandem Group plc
- Samchuly Bicycle Co., Ltd
- F.I.V.E. Bianchi S.p.A
- Specialized Bicycle Components
- Hamilton Industries Pvt. Ltd
- Tianjin FUJITA Group Co. Ltd
- Ming Cycle Industrial Co. Ltd
- Tianjin Flying Pigeon Cycle Manufacture Co., Ltd
- Koninklijke Gazelle N.V.
- Tern
- Kona USA, Inc.
- Scott Sports SA
- Redline Bicycle
- Yadea Group Holdings
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Electric bicycles’ growing popularity combined with increase in the number of national and international cycling events is expected to present lucrative prospects to bicycle stakeholders. Electric bicycles will be an appealing segment during the evaluation period of 2022-2032 due to rapidly rising number of conscientious consumers.
Over the coming years, China is likely to be a major contributor to electric bicycle demand and supply. Majority of major bicycle manufacturers are focusing on new model launches, particularly electric and mountain bicycles.
Hybrid Bicycles to Witness Significant Growth in the Global Electric/Conventional Bicycles Market Market
On basis of the product type, hybrid bicycle is expected to see substantial growth during the forecast period. By end of 2024, hybrid bicycle is projected to bring in revenue exceeding US$ 24,400 Million. Meanwhile, road bicycle is also likely to grow significantly in the coming years.
Based on the technology, conventional bicycle is expected to represent the highest growth in the global bicycle market. A conventional bicycle is estimated to reach nearly US$ 50,300 Million revenue towards 2024 end.
By end user, men followed by kids are likely to emerge as the largest users of bicycle. By the end of 2024, men as the user of bicycle are projected to bring in more than US$ 27,000 Million.
Based on the price, mid-range bicycles are likely to be sold on the large scale in the global bicycle market. A mid-range bicycle is projected to surpass US$ 34,000 Million revenue by 2024 end.
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Key Questions Answered in Electric/Conventional Bicycles Market Report –
- Who are the Major Manufacturers and Suppliers of Electric/Conventional Bicycles?
- What will the Electric/Conventional Bicycles Market growth rate in Future?
- What are the key factors driving the global Electric/Conventional Bicycles Market?
- Who are the key manufacturers in Electric/Conventional Bicycles Market space?
- What are the opportunities and threats faced by the vendors in the global Electric/Conventional Bicycles industry?
- What are sales, revenue, and price analysis by regions of Electric/Conventional Bicycles industry?
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