Global Bicycle Market 2020-2025

July 28, 2020
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GLOBAL BICYCLE MARKET

 

KEY FINDINGS

  1. The Global bicycle market is highly fragmented and includes many international and regional players.
  2. In Asia-Pacific, China and Japan are the leading countries that have adopted e-bikes as sports equipment because of its environmental benefits and to help reduce traffic congestion in these countries.
  3. Google search volume for bicycles has doubled worldwide within the last 12 months.
  4. In Europe, the demand for e-bikes is higher than that of conventional bicycles, especially in Italy, Germany, France, and Netherlands.
  5. With the increase in bicycle renting operations throughout the world specially in Europe and Asia, the global bicycle market is growing significantly.
  6. Mountain bicycle segment is anticipated to expand at a rapid rate. Rising popularity in line with the increasing media coverage for mountain bicycle racing events and the establishment of new mountain biking circuits are expected to drive the growth.

 

 

INTRODUCTION

Bicycles are used as an effective tool of transportation that not only is great for physical fitness but also helps to curb pollution, globally, and hence are widely promoted by authorities as an environmentally-friendly transportation medium.

 

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Since its inception, the bicycle has undergone continual adaptation and improvement. These innovations are supported by the advent of modern materials, automated operation and increase in the use of computers and software for design building purposes, allowing for a variety of specialized bicycle types, improved riding safety, and comfort.

 

Market Segmentation

The bicycle market is segmented by:

  1. Product
  • On-road and track bicycles
  • Off-road bicycles
  • X-road and hybrid bicycles
  1. End User
  • Adults
  • Children

 

  1. Propulsion
  • Manual
  • Motor Assisted

 

  1. Application
  • Transportation
  • Racing

 

 

EUROPE BICYCLE MARKET

In Europe, an increase in demand for bicycles as a form of recreation and both fitness and leisure is helping the growth of the market in this region.

Moreover, because of growing environmental concerns and bicycles being seen as an environmentally-friendly option has further aided this cause. In Europe, the demand for e-bikes is higher than that of conventional bicycles, especially in Italy, Germany, France and Netherlands.

The expanding bicycle market is witnessing a strong growth halt due to massive disruptions in the manufacturing and supply chain of bicycle and bicycle accessories amid the global COVID-19 outbreak.

 

ASIA BICYCLE MARKET

In Asia-Pacific, Governing bodies like the Cycling Federation of India and The Chinese Cycling Association are promoting road racing, touring, leisure cycling, and other cycling events, which have helped in increasing the popularity of cycling in these countries.

Moreover, favourable government and employer initiatives have helped out in driving the market. As for e-bikes, China and Japan are some of the leading countries which have adopted e-bikes as sports equipment because of its environmental benefits and to help reduce traffic congestion in these countries.

 

NORTH AMERICA BICYCLE MARKET

United States holds the highest revenue share in this region with trendy mountain bikes and e-bikes being most popular within the US millennials.

COVID-19 IMPACT ON BICYCLE MARKET

In the present global scenario with the outbreak of the COVID-19 pandemic, it is seen that people are getting more sensible about their health and environment. It can be observed that more individuals are making an effort towards improving their lifestyle choices, and this has created a steep trend of interest for the same.

With lockdowns imposed throughout the globe, people are increasingly searching for alternate ways to maintain their wellness, which is eventually resulting in the growing demand for cycling as an option for staying fit and also as a mode of transport

 

Social distancing norms and stay-at-home orders continue to impose restrictions on travel as well as outdoor exercising, which is directly damaging the mobility industry, including the bicycle market. Non-Chinese bicycle brands have a leverage in these trying times, as an opportunity to strengthen their global market positioning as Chinese brand alternatives presented itself in front of them

Google Trends Worldwide Data for the past 12 months have shown that the COVID-19 pandemic has affected the routine of people across the globe, with people searching for topics like immunity, fitness and related activities to live a healthier lifestyle.

It has also created a surge of interest in cycling and the Google search volume for bicycles has doubled worldwide with South Africa, Uganda, Ireland, Australia and United States having the highest proportion of searches amongst their population

 

 

MARKET SIZE & FORECAST

The global bicycle market is estimated at $XX Million in 2020, growing at –% CAGR till 2025

 

COMPETITIVE LANDSCAPE

The Global bicycle market is highly fragmented and includes many international and regional players. To gain competitive advantage, the companies are investing in research and development (R&D) and differentiating their product using different design and functioning elements, and size and weight variations. Manufacturers are focusing on emerging markets in Asia-Pacific, like India and Thailand, to expand their market. Furthermore, the companies are using digital and social media to influence the customers.

In Asia- Pacific, the market is dominated by key players like Merida Industry Co. Ltd, Giant Manufacturing Co. Ltd, Bridgestone Co. and Hero Cycles Limited. The major companies in this region are also focused on manufacturing and developing e-bicycles; a lot of R&D is conducted for this segment of the market. For instance, Giant Manufacturing Co. Ltd in July 2018 launched three new e-bikes that featured updated motor tech, control buttons and battery systems.

In North America, Accell Group N.V., Trek Bicycle Corporation, and Giant Manufacturing Co. Ltd are the key players. These companies are more focused on making consumer-centric products, specifically targeted towards women and kids.

In Europe, the key players are Trek Bicycle Corporation, Giant Manufacturing Co. Ltd and Wilier Triestina S.p.A. The market is very competitive with strategies such as product innovation, partnerships, expansions, mergers and acquisitions being undertaken to acquire a better position in the market.

 

COMPANY PROFILES

  1. Giant Manufacturing Co. Ltd (Taiwan)
  2. Merida Industry Co., Ltd. (Taiwan)
  3. Bridgestone Co. (Japan)
  4. Shimano, Inc. (Japan)
  5. Hero Cycles Ltd. (India)
  6. Atlas Cycles Ltd. (India)
  7. Avon Cycles Ltd. (India)
  8. Hamilton Industries Pvt. Ltd. (India)
  9. Shanghai Forever Import & Export Co., Ltd. (China)
  10. Shanghai Phoenix Imp. & Exp. Co., Ltd. (China)
  11. Accell Group N. V. (The Netherlands)
  12. Trek Bicycle Corp. (USA)
  13. Cannondale Bicycle Corporation (USA)
  14. Pacific Cycle Group (USA)
  15. Schwinn Bicycles (USA)
  16. Santa Cruz Bicycles (USA)
  17. Specialized Bicycle Components, Inc. (USA)
  18. Dorel Industries Inc. (Canada)
  19. Wilier Triestina S.p.A (Italy)
  20. I.V. Edoardo Bianchi S.p.A (Italy)
  21. Maxeurope(Bulgaria)
  22. Lapierre SA(France)
  23. Tandem Group plc (UK)
  24. Raleigh Ltd. (UK)
  25. Winora Staiger GmbH (Germany)
  26. Amer Sports Corporation (Finland)
  27. Cycleurope AB (Sweden)

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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