Growing Adoption of High-End Bicycles to Spur Growth in the Bicycles Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Bicycles markets. Global market for Bicycles is projected to reach US$86.3 billion by 2020, driven by implementation of government supported bicycle promotion projects and policies, robust demand for high-end bicycles, rising energy prices, and growing emphasis on health and wellbeing and the ensuing interest in sports and leisure activities.

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Bicycles: A Global Strategic Business Report

San Jose, California (PRWEB) June 17, 2014

Follow us on LinkedIn. – First introduced in the 1800s, bicycles have been the basic mode of transport in many countries for several years. While mainly used for transportation in developing countries such as China and India, bicycles are used for leisure and sports in developed countries. Given the environmental benefits of this mode of transport, bicycles are making a comeback in several countries across the world. Sales of bicycles are also receiving a boost supported by the growing base of health conscious population and the ensuing interest in leisure activities such as cycling and swimming, among others. Rising fuel prices, increasing need for low-cost transportation in developing economies, initiatives taken by governments to establish necessary infrastructure, and increase in the number of cycling events represent other factors fuelling growth in the market.

Over the past decade, there has been steady improvement in bicycle frame designs centered on ergonomics and structural endurance. Mountain bikes with 27.5-inch wheels are growing in popularity. Folding bicycles are gaining demand due to their unique ability to be folded into a compact unit, which enables their easy transportation and storage. Known for their softer ride and suitable ride position for long distances, endurance road bikes are finding slow but steady acceptance among riders. The high-end bicycle segment is witnessing steady expansion in market value, thanks to surging average selling prices (ASPs), supported by technological and design advancements, parts upgrade, and material innovations, among other factors. While tubeless tires are witnessing a rise in adoption, fat tires and rims are gaining popularity as they offer increased grip, less rolling resistance and provide more comfort to the rider due to wider contact with the ground. Demand for electric bicycles is also gaining momentum, driven by declining costs and improving quality of lithium-ion batteries. While these bikes are common in several European and Asia-Pacific countries, their adoption still remains low in other regions of the world.

As stated by the new market research report on Bicycles, Asia-Pacific represents the largest as well as the fastest growing market, waxing at a CAGR of 7% over the analysis period. Accounting for over 75% of the world bicycle production, China has emerged as the manufacturing hub for various types of bicycles, including e-bikes. In recent years, high-end bikes have been gaining demand in the country buoyed by factors such as rise in disposable income, improved bicycle infrastructure, and increased sports and cycling events. With bike sales exceeding the sales of motorcycles and cars, Europe has also emerged to be a key market for bicycles. Sales are expected to improve in the long run with the government gearing up to promote cyclotourism in countries such as Spain with several projects underway to build long and short-distance off-road routes and mountain bike parks.

Major players covered in the report include Accell Group N.V., Winora-Staiger GmbH, Raleigh UK Ltd., Currie Technologies, Amer Sports, Atlas Cycles (Haryana) Ltd., Avon Cycles Limited, Bhogal Group of Companies, Campagnolo S.r.l., Cycleurope AB, Cannondale Bicycle Corporation, Dorel Industries Inc., Fox Factory Holding Corporation, Giant Bicycle, Inc., Hero Cycle Ltd., Merida Industry Co. Ltd., Montague Corp., Santa Cruz Bicycles, Shanghai Phoenix Imp. & Exp. Co. Ltd., Specialized Bicycle Components Inc., SRAM LLC, and Trek Bicycle Corporation, among others.

The research report titled "Bicycles: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Netherlands, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin American (Brazil and Rest of Latin America) markets. The report also analyzes the global market for bicycles by product segments such as Mountain Bicycles, Road Bicycles, Hybrid Bicycles, Youth Bicycles, Others Bicycles, and Parts & Accessories

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 1500+ 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.

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


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  • Raghu Gopal
    Global Industry Analysts Inc
    +1 408-528-9966
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