Growing Health and Environment Consciousness Drives the Global Market for Bicycles, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Bicycles markets. The global market for Bicycles is forecast to reach US$60.4 billion by the year 2018, buoyed by increasing awareness among the masses to remain fit, concerns for environmentally sustainable means of commuting, greenhouse gas emissions, technological advancements and rising fuel/energy prices. Densely populated and rapidly expanding Asian markets of China, India and Taiwan bode well for the Bicycles market and offer vast growth potential.

Bicycles: A Global Strategic Business Report

Follow us on LinkedIn – The global bicycle market has long been benefited by the evergreen popularity of cycling as a preferred leisure activity. Development of the world bicycle industry, over the years, was driven by factors such as growing environmental concerns over greenhouse gas emissions, rising fuel/energy prices, and increasing emphasis on health, well being and longevity, which rapidly helped the adoption of cycling as a popular mode of exercise on par with aerobics and yoga. Today, the market for bicycles is relatively mature with stabilizing growth patterns. Governments across the world are investing in bicycle promotion projects and policies. Australia, Germany and the Netherlands have a Government sponsored network of bicycle paths and trails. Globally, bicycles are considered as environment-friendly products and the latest electric-power bicycles are recognized as ‘green transport vehicle.’ Electric-power bicycles are well received in several regions including China. In a number of countries, cycling is considered a popular sporting activity. Body development and environment protection brings in new prospects for the bicycle industry. Intense competition in the market resulted in many companies and brands acquiring core competence and superior market-risk alleviating capabilities.

Sharp increase in gasoline prices led to a noticeable rise in demand for bicycles in various parts of the world. Unprecedented rise in petrol prices that skyrocketed to all time highs in recent years drove people, particularly fitness enthusiasts, to adopt cycling for transportation. In fact, for commuting to short distances in cities, bicycle is fast, and economizes on space. Several city Governments in Europe laid out bike-friendly roads and a growing number of commuters are riding the bicycles. The escalating metal prices, particularly of steel, chrome and aluminum, which are important raw materials for the bicycle industry, led to squeezing of manufacturers’ margins and profits. To offset the impact of sharp increase in raw material prices, manufacturers are increasingly looking at lightweight, high-end models that incorporate carbon fiber frames. Further, manufacturers are increasingly focusing on adding sophisticated features to the bikes and novel features such as advanced shifting systems are making the bikes easier to ride. Bikes are becoming more specialized with re-designed features such as thick tires that enable riding over sand, mud, snow and ice. Likewise, sport-utility bikes evolved from custom-made bikes to accommodate one or two persons at the back.

A major trend in the worldwide bicycles market is the surging demand for Electric Bikes or e-bikes that is bolstering sales in the overall bicycles market. Increasing gasoline prices coupled with need for environment-friendly means of transportation are driving customers towards electric bikes that operate as a standard two-wheeler, but with a battery support. Electric bikes are rapidly gaining popularity and dealers are promoting these bikes to address requirements of the consumers. In the US, electric bikes are categorized as bicycles under the federal law, and no license or registration is needed as they move at speeds less than 20 mph and their energy is below 750 watts. In Europe, electric vehicles are more popular as motorists jammed in traffic would be seeking options for short travel, which do not involve steering through congested transport systems. China is a leading global consumer and producer of electric bicycles, accounting for a lion’s share of global consumption and output. Competent technology, widespread supplier network and simple manufacturing processes have been instrumental in the growth of this segment.

Asia-Pacific, spurred by intense activity in heavily populated countries of China, India, Taiwan and Indonesia represents the single largest bicycles market, as stated by the new market research report on Bicycles. The region is also slated to expand at a sturdy CAGR of 6.4% through 2018. China is a chief provider of fully assembled bicycles, frames and other components and accessories. The country is also the largest bicycle market in the world, despite the growing middle-class population switching to automobiles. Pricing pressures on manufacturers are leading to certain amount of production shift to other Asian nations such as Thailand and Taiwan. India is home to the world’s second largest bicycle industry. Rise in disposable incomes, heavily congested road conditions, Government sponsored initiatives and environmental concerns will give bicycles market in the region a thumbs-up in the upcoming years.

In the Adults Bicycles category, Mountain Bicycles comprise a major chunk of the market. Although mountain bicycles originated in the US, they are now clamored globally. Mountain bikers in the age group of 35-55 or the otherwise called baby boom generation, have more than doubled since the previous decade. In the US, mountain bikes comprise a whopping share of overall retail bicycles sales. Ski-resorts are offering the to-be gonzo downhillers an opportunity to get acquainted with mountain biking. Most of these resorts offer beginner, intermediate and expert trails along with lessons, rentals, sales, repairs and first-aid. Road Racing and Sports Bicycles are rapidly making inroads in most markets worldwide as consumers increasingly become more fitness conscious and sports oriented.

Key players profiled in the report include Accell Group N.V, Winora Staiger GmbH , Amer Sports, Atlas Cycles (Haryana) Ltd., Avon Cycles, Ltd., Bell Sports Corporation, Campagnolo S.r.l, Cannondale Bicycle Corporation, Currie Technologies, Inc., Cycleurope AB, Giant Bicycle, Inc., Hamilton Industries Pvt. Ltd., Hero Cycles Ltd., Huffy Bicycle Company, Merida Industry Co., Ltd., Miyata Industry Co., Ltd., Montague Corp., Pacific Cycle, Inc., Schwinn Bicycles, Raleigh UK Ltd., Shanghai Phoenix Imp. & Exp. Co., Ltd., Specialized Bicycle Components, Inc., SUNN Bicycle, and Tandem Group Plc., among others.

The research report titled “Bicycles: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the bicycles markets, current market trends, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2010 through 2018 in value terms (US$) for geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key segments and sub-segments analyzed include Adult Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles & Specialty Bicycles), Children’s Bicycles, Sports Bicycles, and Parts & Accessories. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Bicycles_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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