Lucintel Forecasts Bicycle Market to Reach $62.0 billion by 2030
According to the recent study the bicycle market is projected to reach an estimated $62.0 billion by 2030 from $47.8 billion in 2023, at a CAGR of 4.0% 2023 to 2030. Growth in this market is primarily driven by raising fuel prices, government programs to build bicycle paths and roads, increasing health concerns/fitness consciousness, growing environmental awareness, and increasing traffic congestion.
Browse 130 figures / charts and 72 tables in this 178 -page report to understand trends, opportunities and forecast in bicycle market by type (road bicycle, mountain bicycle, kids bicycle, e-bicycle, and other bicycles) and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that e-bicycle will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the increasing demand for zero emission climates, government regulations, and safety standards for bicycling. Development of cycling infrastructure will have a larger impact on the electric bicycle market in emerging markets in the coming years.
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Europe is expected to remain the largest region and witness the highest growth over the forecast period due to government initiatives to promote sustainable transportation and a healthier lifestyle.
Giant Manufacturing, Merida Industry Co. Ltd., Accell Group NV, Dorel Industry, Tube Investment of India Ltd., Ideal Bike Corporation, Hero Cycles Ltd are the major supplier in the bicycle market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]
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