Bicycle Market Trends

Report ID: GMI6748
   |
Published Date: November 2024
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Report Format: PDF

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Bicycle Market Trends

The rise of bike-sharing and micromobility services in urban areas is transforming bicycle access and perception. This trend highlights the demand for convenient, eco-friendly transportation in densely populated regions, creating new market opportunities for bicycle manufacturers and service providers.
 

For instance, Toronto's Bike Share program recorded 5.7 million trips in 2023, an increase from 4.5 million in 2022. This initiative supports the city's "TransformTO" strategy to achieve net-zero emissions by 2040. Urban mobility solutions, including bike-sharing systems, are increasingly crucial in reducing carbon footprints. This trend highlights a global shift towards sustainable transportation in cities worldwide.
 

Rising bicycle manufacturing costs are impacting the market, influencing pricing, consumer behavior, and production processes. Key factors include increased raw material prices, such as steel and carbon fiber, and global supply chain challenges, leading to longer lead times and higher shipping costs. Consequently, average bicycle prices have risen, potentially reducing affordability for some consumer segments and affecting purchasing decisions in price-sensitive markets.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :
Who are the major players in the bicycle market?
The key players in the industry include Accell Group, BH Bikes, BMC Switzerland, Brompton Bicycle Ltd, Fuji Bikes, Giant Group, Merida Industries, PON Holdings BV, Trek Bicycle, and Yamaha Motor.
How much is the offline bicycle segment expected to be worth by 2034?
What was the revenue share of the China bicycle industry?
How big is the global bicycle market?
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    Base Year: 2024

    Companies covered: 22

    Tables & Figures: 200

    Countries covered: 21

    Pages: 180

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