Press Release

Bicycle Market is expected to grow from US$ 59,882.2 Mn in 2021 to US$ 109,511.7 Mn by 2032

The bicycle industry is anticipated to grow significantly, with a CAGR of 4.76%, from US$ 1116.5 billion in 2021 to US$ 1861.8 billion in 2032.

It is anticipated that the bicycle market share would increase further due to consumer demand for bicycles as a realistic form of exercise to ensure a healthy life free from obesity and other disorders. The infrastructure required to facilitate bicycle commuting is being aggressively built by several governments at the same time, which increases demand for bicycles.

Recent developments in GPS technology and mobile app development led to the establishment of dockless bicycle sharing services that employ smartphone apps. It is also projected that the widespread use of such dockless bicycle-sharing programmes will greatly increase bicycle sales.

It is projected that the usage of cars is increasing due to the advent of various online bicycle booking platforms through web portals and mobile applications, such as Uber Bike, Yulu, and others. This opens up a wide range of prospects for the bicycle industry.

Expanding media coverage of these events and the growing power of celebrity endorsement are projected to boost the bicycle market’s growth even more. In China, Japan, and Singapore, constructing the infrastructure required to promote and enable bicycle commuting is a major priority.

Competitive Landscape:

Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA, and Trek Bicycle Corporation.

Download PDF Brochure

Ankush Nikam

Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.

Share
Published by
Ankush Nikam

Recent Posts

How to Download Microsoft Teams for Huawei in 2023

Microsoft Teams allows you to collaborate and communicate in real-time, attend meetings, and share files…

55 mins ago

Social Discovery Group Leads $2 Million Private Round of Web3 AI-driven Gaming Metaverse ‘My NFT Wars’

Unleash the hero within and conquer the gaming world with My NFT Wars!  Social Discovery…

1 hour ago

How iCode School Founder Abid Abedi Is Revolutionizing Modern STEM Education

With the current changes and technological advancements that are taking place, you need to equip…

1 hour ago

The Benefits of Managed IT Services

Managed IT services are an increasingly popular option among businesses, particularly those that do not…

1 hour ago

The Love For Technology Leads To IT Block

In today's world, technology is a vital part of our daily lives. From smartphones to…

1 hour ago

Introducing Your Kids to the World of Music: Fun and Creative Ideas

As parents, we all want the best for our children. And one of the best…

1 hour ago