World Bicycles Market to Reach in Excess of $61 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.
Mobility is the innate character of human beings. This can be achieved through public transportation, bicycles and automobiles. In the wake of environmental protection, bicycles and public transportation systems are more viable. China, the largest populated country, is moving towards an automobile centered transportation system and so is India, the second largely populated country. The reality behind the high aspirations of these countries is the lack of land to drive automobiles and the dearth of basic amenities for a growing population.
San Jose, CA (PRWEB) March 17, 2008 -- Poised to register a CAGR of 5.28% over the 2001-2010 period, the world Bicycles market is projected to reach in excess of US$61 billion by 2010. Asia-Pacific, with a share estimated at 47.36% in the year 2007, forms the largest Bicycles market worldwide. The region is also slated to record the fastest growth with a CAGR of over 6.33% during the aforementioned period.
Adults Bicycles forms the largest segment in the global Bicycles market, accounting for an estimated 44.17% of the total. Sub-categories analyzed under Adults Bicycles include Mountain bicycles, Hybrid Bicycles, Touring Bicycles, and Specialty Bicycles. Sports Bicycles segment is forecast to grow at a strong CAGR of 6.15% over the 2001-2010 period.
Cycling is one of the top leisure sports activities in the US. An overwhelming majority of nearly 95% uses bikes for health and leisure purposes and the rest use it for transportation purposes.
The world's major manufacturing centers are shifting to Southeast Asia. Many North American brands and European brands are now being assembled in the Far East. The year 2000 observed vast changes as a result of economic progress in the regions of Europe and the Pacific Rim with continuous expansion in the US. This in addition to improved climatic conditions gave an excellent beginning to the bicycles sales. Most of the North American companies like Huffy stopped manufacturing operations and planned to out-source their products in Asia.
Bicycle demand is affected by technological changes, diffusion and short life cycles. These factors control the progress and guide the trends in the industry. Mass-production, the age-old belief is now being replaced by mass-customization.
Bicycles manufactured in recent years are very advanced compared to the bikes of yesteryears. These high technology and high-performance bicycles need more maintenance. Big companies like Shimano Bicycle Company are striving to make state-of-the-art components. Mountain bikes and all-terrain bicycles are receiving significant attention, as these make up two thirds of the total bicycle sales.
The global bicycles market is expected to grow at a steady pace in the near future. Growth is expected to arise from the increasing popularity of electric bicycles. China is the largest market for electric bicycles in the world and is expected to be the leader in the foreseeable future. China is also the largest producer of electric bicycles in the world. The country accounts for a lion's share of electric bicycles sold in major markets including Europe and the US. While exports to the US are in the form of complete units, exports to Europe are in the form of components that are assembled and sold under local brand names. Other potential markets include densely populated areas such as India and Africa.
Major companies covered in "Bicycles: A Global Strategic Business Report" include Accell Group N.V., Amer Sports, Bell Sports Corporation, Caloi USA Bicycle Company, Campagnolo SRL, Cannondale Bicycle Corporation, Currie Technologies Inc, Cycleurope AB, Giant Bicycle Inc, Hero Cycles Ltd, Huffy Bicycle Company, Merida Industry Co. Ltd., Miyata Industry Co Ltd, Pacific Cycle Inc., Raleigh UK Ltd., SRAM Corporation, Shanghai Phoenix Company Ltd., Shenzhen China Bicycle Co. (Holdings) Ltd., Shimano Inc, Specialized Bicycle Components Inc., Sunn Bicycle, Tandem Group PLC, Trek Bicycle Corp, Tube Investments of India Ltd, and Yuh Jiun Industrial Co. Ltd, among others.
For more details about this research report, please visit http://www.strategyr.com/Bicycles_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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