GLOBAL BICYCLE MARKET
- The Global bicycle market is highly fragmented with 80 % of the market being split across various international and local players
- China, India, the European Union, Taiwan, and Japan account for 87 percent of global manufacturers.
- Netherlands is one of the biggest markets in Europe with cycling being a prominent role in daily life having specific planning and laws for bicycles and its users in the country
- Denmark, Belgium, Italy and France are focusing more on developing infrastructure for electric bicycles and bikes .
- The United States Congress has proposed a tax credit against the purchase of electric bicycles in the USA which will be up to 15%
- Offline stores currently are the go to sales channel for customers mainly to understand how the cycle feels physically before purchase
- The market share for electric bicycles mainly pedal assisted bicycles will grow by 14% mainly due to support, improved battery, terrain control, development of new models and easier activity
- Big players in the automotive market have extended their product line ups to supply to the E-bike market such as battery packs and motors by Bosch, “engines” by Yamaha, and batteries by Samsung
- Increasing IOT features and Bluetooth features will also be implemented in bicycles as people increasingly are purchasing bicycles for exercise purpose
- Post Covid, there was an increase in bicycle sales mainly for health purposes. Along with health purposes, travelling while maintaining social distance and to avoid public transport
- Bicycle sharing will also increase but with caution this time as multiple firms failed in this venture over the past 10 years; caution will include a decreased fleet size and anti-vandalism implementations
- Multiple countries have taken steps to improve cycling infrastructure including cycle paths, the ability to carry bicycles on public transport, and subsidies for purchasing cycles
- Component manufacturers can step into full-scale bicycle manufacturing provided they are able to develop a full-fledged supply chain
- Vivacity Labs has partnered with the City of Port Phillip with Bicycle Network to install its AI-powered traffic sensors in Port Phillip, Australia..
- Individuals all across the globe are increasingly becoming more aware of their fitness, which is eventually resulting in the growth of bicycles as an alternative way of transport.
- Recent advancements in mobile apps and Global Positioning Systems (GPS) have resulted in app-based dockless bicycle-sharing systems.
- The growing traffic congestion and shortage of parking spaces, particularly in metropolitan cities, is prompting people to consider bicycle commutation for short distances to save time.
- Various governing bodies in European countries, such as Cycling Ireland, promote road racing, touring, and leisure cycling, track racing, and off-road racing events.
- At present, bicycling has been emerging and mostly conventional bicycles for women are dominating the global market in terms of technology.
- The mountain bicycle segment is also expected to grow significantly over the forecast period, as consumers, particularly millennials, continue to opt for mountain bicycling as a form of leisure and adventures.
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. Post-Covid, social distancing and health concerns drove growth in the market.
Since its inception, the bicycle has undergone continual adaptation and improvement. These innovations are supported by the advent of modern materials, automated operation, and an 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.
Graph: Various reasons for not choosing a bicycle
|S.NO||Overview of Development/Innovation||Details of Development/Innovation||Region of Development||Possible future outcomes|
|Geekay Bikes Unveils 3 New Electric Bicycles at Ride Asia||At Ride Asia, an international exhibition, Geekay Bikes Pvt Ltd, a local cycling brand that boasts of several ranges of electric, gear, and non-gear bicycles, will introduce its new bicycle ranges in both the EV and non-EV range.||India||This would enhance better innovations|
Geekay Bikes prides on continuous product innovation. At the show, the company unveiled three electric bicycle models: the Ecobike ZING, Ecobike UNI, and Ecobike ALPHA. The three variations offer the greatest electric bicycles in their class at incredibly low, affordable costs.
BICYCLE MARKET SEGMENTATION
The bicycle market is segmented by
- Asia Ex China
By Type of Bicycle
- Conventional Bicycle
By Sales Channel
BICYCLE MARKET DYNAMICS
|1||June 2022||Porsche||Porsche is acquiring Fazua, an e-bike drivetrain manufacturer that specializes in lightweight motors.|
|2||Jan 2022||Cardinal Cycling Group||Cardinal Cycling Group has acquired the assets of Detroit Bikes, including the brand, inventory and production facility.|
|3||Nov 2021||Pierer Mobility||Rossignol Groupe sold Felt Bicycles to the Pierer Mobility, best known as the parent company of the KTM motorcycle brand|
|4||Nov 2021||Flagg Bicycle Group||The Flagg Bicycle Group announced that it acquired women’s cycling company Terry Bicycles, which will be renamed Terry Precision Cycling.|
|5||Aug 2021||IRONMAN Group||The IRONMAN Group has acquired the multi-day cycling event series Haute Route and the Gravel Epic series, which Haute Route acquired earlier this year.|
Individuals all across the globe are increasingly becoming more aware of their fitness, which is eventually resulting in the growing demand for the bicycle as an alternative way of transport.
Compared to conventional bicycles, currently, the overall demand for e-bicycles is evolving and is expected to gather a larger market share.
People across the globe have been opting to make use of bicycles as a form of exercise and to reduce greenhouse gas emissions which will ensure a healthy lifestyle, maintain weight and to grow stronger. This type of mindset has increased the popularity of the dockless bike 1bicycles and e-bicycles.
The users have to activate the ride sharing application on their smartphones and access the service. The system also allows users to locate bicycles nearby and electronically unlock the bicycle.
This system of using dockless bicycles as a form of transportation started from Europe which has now gained popularity in the USA and Asian countries such as China and India.
The company Vivacity Labs has partnered with the City of Port Phillip with Bicycle Network to install its AI-powered traffic sensors in Port Phillip, Australia.
The sensors are set to measure the bike rider, motor vehicle and pedestrian movement and help the government to reduce congestion on roads and increase sustainable forms of transport.
There’s been significant growth in the demand for bicycles due to COVID-19 as now consumers are trying to avoid public transportation due to fear of contracting the virus. Moreover, with growing health-conscious consumers, bicycles are now seen as an increasingly dependable and healthy mobility option.
The Global Bicycle market is expected to grow as more and more people are resorting to bicycling as a regular means of transportation. Events, such as Tour de France and Ronde van Vlaanderen, are further adding to the popularity of these vehicles.
Meanwhile, a rise in bicycling events along with the marketing of cycling tourism being organized in various countries from Asia, Africa, and the Middle East is fuelling the sales of mountain as well as road bicycles.
EUROPE BICYCLE MARKET
|1||Q1-2022||Eskute||Eskute, a fast-growing e-Bike company has launched four new e-bike models, including two “Polluno” city e-bikes and two “Netuno” mountain e-bikes.|
|2||Q2-2021||Acell group||The group’s “Sparta” launched a powerful, new speed pedelec. It has introduced its d-series(distance series). The d-Burst is available as both an e-bike and a speed pedelec with total capacity of no less than 1125KWh.|
|3||Q4-2020||Volt||The e-Bicycle manufacturer Volt has opened its planned UK facility in Milton-Keynes and it has a capacity of 25,000 units annually.|
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.
The expanding bicycle market had to witness 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 but with ease in lockdown measures, newly found market demand for bicycles is being substantially met which increased imports from Asia.
The European market is dependent on imports as the manufacturing in the continent is not enough to supply the demand. Manufacturing in Europe will need to compete with manufacturing based out of China and other Southeast Asian countries in terms of cost mainly labour and technological competence
The pandemic has caused the market to grow at a faster pace where governments across the globe are promoting the use of bicycles as the safest form of transportation.
Governments in countries such as the UK and Italy are also providing subsidies and incentives which along with the growing awareness for healthy lifestyle have enhanced the growth of this market.
Europe is estimated as the ideal region to commute with bicycles due to which the region is experiencing significant growth over the years.
The increasing popularity in the region is also attributed to the bicycling events and tours that take place such as the Ronde Van Vlaanderen and the Tour de France. Countries such as Denmark, Belgium, Italy and France are focusing more on developing infrastructure for electric bicycles and bikes which promote the growth of the industry.
New Phoenix models such as the Lithium moped bicycles have become increasingly popular across Europe as the bicycle addresses the concerns of people owning a luxury bike to go out in public as well as remain healthy at the same time.
The Hero cycles owned subsidiary Insync Bikes has announced the development and manufacture of 50,000 units for the UK market by Christmas. The key model will range between different sizes for children and adults to be designed in Manchester.
Moreover, growing environmental concerns made bicycles an environment-friendly option. In Europe, the demand for e-bikes is growing with 50% of bicycle sales in 2020 being electric in the Netherlands.
Countries also subsidized bicycle purchases both for manufacturing and consumers. Italy allocated €210m toward a cash-back program through which Italian residents who purchased a vehicle without an engine were eligible for a €500 stipend; France also established a similar program.
French government spent €60 million on emergency cycling measures comprising costs of individual bike repairs up to €50 per citizen and state subsidies to purchase e-bikes
To know more about Europe Bicycle Market , read our report
ASIA BICYCLE MARKET
|1||Q2-2021||Alpha vector||The Company has launched a range of KTM bicycles in the India market. They also became the exclusive distributor for sales of KTM bicycles in the India market.|
Asia-Pacific is the largest and also the fastest-growing region in the global bicycle market. China, Japan, Australia, India, and South Korea are some of the top contributing countries in the region with most of the global manufacturing coming from this region.
The company Hebei Hongyang Tyre exported a total of 16.19 million bicycles in the first quarter of the year 2021, which increased the export volume to $1.06 billion which was up by 101.6% from year-on-year comparison.
Recently electric bicycles are gaining popularity across Asia especially in China among younger generations which use bicycles as a healthy activity.
Electric bikes are equipped with smart batteries and linked to applications that make they easily accessible. The primary bike sharing companies such as Hellobike, Meituan bike and Qingju Bike have increased the demand for e-bikes in the Chinese 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.
Lack of the infrastructure necessary to support and encourage bicycle commutation is hindering the growth of the bicycle market. Similarly, lightweight bicycles made using composite materials make them expensive, which does not bode well for market expansion.
Hero Cycles, a market leader in India with more than 40% share in the market sought a reduction in GST on bicycles to 5% from the current rate of 12% recently, to make them affordable for all sections of society. The company also asked the government to focus on developing road infrastructure which is amenable to cyclists.
China and Japan adopted e-bikes as sports equipmen
t because of their environmental benefits and to help reduce traffic congestion in these countries.
To know more about China Bicycle Market, read our report
NORTH AMERICA BICYCLE MARKET
|1||Q2-2021||Trek Bicycles||They have announced a new partnership with Bike Exchange, an online marketplace. The deal allowed North American Trek dealers to show and sell Trek products through the Bikeexchange.com platform.|
The United States holds the highest revenue share in this region with trendy mountain bikes and e-bikes being most popular among the US millennials.
The United States Congress has proposed a tax credit against the purchase of electric bicycles in the USA which will be up to 15% that is half of what was presented to the House of Representatives in February 2021. The original document pitched a tax credit of 30% as incentive to buy more electric bikes and bicycles.
U.S. cycling sales through all retail channels grew 75% in April to a total of about $1 billion in retail sales for the month in 2020. April was the first month in the cycling market that sales have reached $1 billion in a single month. Typically, April sales fall between $550 and $575 million.
Bikes for family use, and neighborhood riding, and lower price-points showed the strongest year-over-year sales gains in 2020 and the market is growing in 2021.
Lifestyle/leisure bikes grew by a considerable fold; front suspension mountain bikes were also up and children’s bikes increased by twice than expected for the month. Accessories sales also grew, including helmets, water bottle cages, and bike baskets.
COVID-19 IMPACT ON BICYCLE MARKET
Covid-19 brought about a dramatic increase in bicycle sales in response to the pandemic. Heightened anxiety over public transportation and a surge in exercise has meant that more and more are choosing to use one of the most basic forms of mobility, leading to what can be called a bicycle boom.
Due to the pandemic, gyms and other recreational sports centers were closed pertaining to the pandemic protocols across the globe that promoted the use of bicycles as a means of exercise and for people to go out. The pandemic which resulted in the economic loss for various industries attributed to the growth of this sector.
One of the ways by which bike shops have ensured their stores remain appealing to visit even after ease in lockdown measures in major countries is by retail merchandising.
The global bicycle market, already expanding before the pandemic, has received a shot in the arm by Covid-19. About 19% of American adults say they rode a bike for the first time in a year (2020) because of the pandemic.
And a majority of those riders continued riding after lockdown orders were lifted. And many of those reactivated riders have children, which means more cycling by more people.
With many youth sports programs cancelled because of the epidemic and with schools closed or restricted in some countries, cycling is one of the few safe outdoor activities kids of all ages can participate in and saw a positive response across Europe and USA
The Canadian engineering company Eco-Counter, which designs and provides bicycle counters, measured a 21% increase in U.S. urban-area ridership from March through mid-June 2020 compared with the same time period in 2019.
Even as lockdowns were lifted across the board, cycling saw no decrease and in fact, in 2021 saw an increased response in sales which will continue. New riders have taken it up and riders who left it restarted it which has developed sales across all types of bicycles
BICYCLE MARKET SIZE & FORECAST
The global bicycle market is estimated at $XX Billion in 2022, growing at XX% CAGR till from 2023 to 2030
In terms of bicycle market segments, hybrid bikes are projected to grow the fastest globally owing to their multifunction use deeming it as the most preferable option among customers. Growth in the road bicycle segment which today accounts for nearly 15% share of the global bicycle market is also projected to grow in the forecast period.
Regions with tougher terrain such as Spain will see an increase in mountain cycles as people take a special affinity towards multi-terrain riding and adrenaline rushing mountain cycling,
The E-Bike segment is estimated to grow in the upcoming years with advancement in technology and the rising concerns over increasing fuel prices deeming it as a more affordable option for many households. This growth will be driven primarily by the U.S, Canada, Japan, China and Europe.
For far too long the cycling industry has been solely focused on the pinnacle athlete, but the current trends show that a broader, family and beginner focus can reap gains.
This is a silver lining, and one of the important sports retail lessons to come out of the pandemic with features such as cargo trolley attracting customers who carry luggage frequently
|Advantages of E-bike|
|Sweat free commute|
|Longer distance and tougher terrains are easier to handle|
|Cheaper than an electric scooter|
|Advantages of Bicycle|
|Lighter than e-bike|
|Cheaper than e-bike|
|Almost zero regulations compared to regulations on e-bikes|
Lyft and PBSC Urban Solutions, a global bikeshare equipment and technology supplier, announced a deal on Tuesday. The deal is scheduled to be completed in the second quarter.
Lyft claims that the acquisition nearly doubles its micromobility scale, thanks to PBSC’s sales experience and client relationships.
Motivate, which collaborated with PBSC to create the BIXI Montreal bikeshare system, was acquired by Lyft in 2018. Lyft has extended micromobility availability in North America since then, with its flagship New York bikeshare Citi Bike rising from 12,000 to over 24,000 bikes. Last year, Lyft said it had a record 28 million users using Citi Bike.
Lyft and PBSC both want to help communities cut carbon emissions by providing transportation choices.
The remaining shares were purchased by Asobi Ventures, an Austin, Texas-based firm that previously owned a majority stake in Gruppo Srl. Cinelli and Columbus are both owned by Gruppo Srl.
Victor Luis’ family investment entity is Asobi Ventures Inc. The company has been investing in talent, systems, and product development in order to build a long-term model for the two most iconic brands in the bike industry.”
As a maker of high-tech precision tubing, a luxury furniture brand, and a supplier of high-performance proprietary steel alloys and tubing to the world’s greatest bicycle brands and independent artisans and craftsmen, Columbus has held a unique place in Italian industrial history.
RECENT PRODUCT LAUNCH
The eagerly anticipated Model F folding electric bike has just been released by the Electric Bike Company in Newport Beach, California. The folder features a similar cruiser aesthetic and design philosophy to the company’s larger e-bikes, but in a more compact and portable form.
The 24′′ wheels on the Model F strike a balance between the larger 26′′ cruiser wheels and the smaller 20′′ wheels. It also has a low step-through frame. The 3′′ wide tyres are also a compromise between narrower street tyres and cushier fat tyres, more appropriately classified as balloon tyres.
The hydroformed aluminum frame of the Model F uses a downtube-mounted integrated battery and a front suspension fork.
On the crowdsourcing website Indiegogo, Vanpowers Bike, a specialized electric bike manufacturer, will introduce City Vanture, the first electric bike in the world with an assembled frame.
This fantastic electric bicycle’s frame is made using the traditional Chinese tenon-and-mortise construction, which improves both safety and riding comfort. Customers have access to more than 10 custom color options.
The City Vanture’s tenon-and-mortise structure helps the joint force advance by reducing centerline tolerances and controlling them. The electric bicycle’s safety has significantly increased, the assembled frame is more stable, and riding is smoother.
Environmentally friendly, it can also reduce the production process’s rejection rate. When routine maintenance is needed, the battery can be safely disassembled and reassembled, realizing the recyclable utilization of the electric bicycle.
A new line of electric bikes is now available from Seattle-based outdoor retailer REI Co-op, giving consumers more choices in the quickly growing e-bike market. A new type of “lifestyle e-bikes” are the Co-op Cycles Generation bikes. Two new Co-op Cycles models from REI are the e1.1 and e1.2.
The new bike line broadens customer access with a “one-size-fits-most” philosophy and several new features that put utility and practicality above all else. A few of the features include 20-inch wheels, a low-step frame, memory foam seats for a comfortable ride, and front and rear lighting for improved visibility when riding at night.
The bike is designed for people who want to commute around town using more convenient, environmentally friendly modes of transportation instead of their cars.
The Valley and Long-Range models, two new offerings from CycleOn for 2023, have just gone on sale. Both e-bikes are among the most well-known brands in the market right away thanks to their attractive features and affordable price points.
The Long Range offers a very high operating battery and is designed for simple commuting. On the other hand, “The Valley” has been designed to traverse more challenging terrain and provide the user with more power.
The 500W brushless high-speed motor in the Long-Range model allows riders to travel up to 50 miles on a single charge with assistance. It also includes a 36V, 16AH high capacity lithium battery with a 5- to 6-hour charge time.
The Valley is ideal for those who enjoy the excitement of exploration. A 26*4.0 inch fat tyre and a high-performance shock absorber are included with the high performance 750W e-bike to help riders easily negotiate rough terrain.
A new division of Specialized called Globe was created with the goal of producing premium electric utility bikes that can completely replace automobile travel.
Globe will be “an extension of the Specialized brand that will focus on bringing more fun to local living while reducing the need for daily trips in cars, trucks, and SUVs.”
Schwinn’s E-Century electric bicycle, the company’s newest offering, has been launched, according to one of the most recognized names in the cycling business, Schwinn Bicycles.
Innovative electric bikes like the E-Century blend modern technology with Schwinn’s renowned quality and design. Cycling enthusiasts who wish to travel further and quicker with less effort may consider the Schwinn E-Century.
This bicycle is ideal for commuting, exercising, or taking leisurely rides because it has a strong Bosch Performance Line motor that can go up to 20 mph. A durable battery that can deliver up to 60 miles of range on a single charge powers the motor.
A lightweight aluminum frame, Shimano hydraulic disc brakes, and a Shimano 10-speed gearbox are just a few of the premium parts included in the E-Century.
It is an efficient option for daily usage because it also has fenders, front and rear lights, a rear rack, and these characteristics. Navy blue and matte gray are the only two colours offered for the Schwinn E-Century.
It may be pre-ordered right now online, and in the coming weeks, it will be offered in a few Schwinn stores. Cycling enthusiasts of all skill levels will love the Schwinn E-Century’s performance, style, and quality combination.
The well-known Italian bicycle maker I.V. Edoardo Bianchi S.p.A. is proud to announce the release of their newest offering, the Bianchi E-Drive.
The company’s dedication to innovation and sustainability led to the creation of this electric bicycle. The Bianchi E-Drive is made to meet the rising demand for electric bikes that provide a green and effective form of mobility.
It has an effective battery system and electric motor that provide riders with the aid they need to traverse any terrain. In addition, the bike stands out from its rivals because of its slick and fashionable appearance.
Depending on their requirements and preferences, riders using the Bianchi E-Drive can select from three different levels of pedal assistance. It is a flexible choice for commuters, leisure riders, and fitness fanatics alike because of its adaptability.
A smooth and delightful ride is also made possible by the bike’s lightweight frame and plush cushioning. The Bianchi E-Drive is only one example of I.V. Edoardo Bianchi S.p.A.’s commitment to sustainability as a business. Cutting-edge battery technology ensures a clean and effective ride for years to come. It is long-lasting and environmentally sustainable.
The Bianchi E-Drive is an intriguing addition to the market for electric bicycles overall. It is an absolute must for anybody searching for a reliable, environmentally responsible method of transportation due to its cutting-edge design, strong motor, and sustainable features.
Gravel Bikes: These bikes are designed for off-road riding and have wider tires and a more relaxed geometry compared to road bikes, making them more versatile for a variety of terrain.
Enve has made the MOG, a new, high-end gravel bike, official.The MOG is meant to be a platform that provides performance, simplicity, and adaptability. The frame’s solely 700c-based platform seeks to provide a balanced, secure ride for a variety of dirt applications.
By utilising Enve Material Optimised design, zone-specific performance requirements, such as impact toughness, stiffness, and compliance, are met by the selection and manipulation of materials, fibre weights, and fibre angles.
The updated Haanjo gravel bike is being released by Diamondback. The Haanjo collection, which includes eight distinctive models, embodies adaptability. The models are excellent on both road and dirt, ranging from entry-level commuter cycles to fully equipped, carbon all-around gravel bikes.
E-cargo bikes: These are electric bicycles with cargo capabilities, designed to carry heavy loads and transport goods. They are popular in urban areas for deliveries and other commercial purposes.
At its location in Hamburg, Bolloré Logistics has begun installing mocci’s Smart Pedal Vehicles. These cutting-edge electric bicycles are designed to take the position of vans and trucks that are now utilised for daily business between clients, the logistics centre, and the authorities for the exchange of numerous spare parts, tools, and papers.
Folding Bikes: These bikes are designed to be compact and portable, with the ability to fold down for easy storage and transportation. They are ideal for commuters who need to take their bike on public transportation or store it in a small apartment.
KBO Bike, a well-known manufacturer of inexpensive electric commuter bikes, has introduced its newest model, the KBO FLIP Folding E-Bike.The KBO FLIP is built with a powerful 500W hub-drive motor, a 15.6Ah Lithium-ion battery, and a long range of 60+ miles to make the switch to electric biking simple and pleasurable.
With its strong, folding aluminium frame and quick-release levers, the KBO FLIP is simple to store and move. The 20″ x 3″ Chaoyang tyre and Shimano 7-speed gear derailleur provide seamless gear changes and provide exceptional traction on all surfaces.
One of the lightest folding bikes is the Denago Folding 1. The Denago folding eBike is a strong, portable model perfect for van life, RV travel, or anywhere with limited storage space thanks to its folding frame, pedals, and handlebar.
This model has a sleek, concealed internal battery and features both pedal assist and throttle modes. Riders from 5’1″ to 6’3″ can use the combination of the ultra-low stand over height frame with the telescopic seat post and handlebars.
Electric Road Bikes: These are similar to traditional road bikes, but with an electric motor to assist the rider. They are designed for riders who want to go faster and farther than traditional road bikes, without the added strain of pedaling.
The Flluid-2 and Flluid-3 are two brand-new electric bike models from FUELL, the electric bike firm founded by internationally famous motorcycle designer Erik Buell.
With two detachable battery packs with a combined capacity of 2 kWh, the Flluid-2 is referred to be a “ultra-long-range powerhouse”. This twice the battery capacity of the original FUELL Flluid-1 and makes it possible to travel an astonishing 225 miles (362 km) on a single charge.
The Flluid-3 offers a single 1 kWh battery, which should be sufficient for anyone who can make do with a still-impressive 110 mi (177 km) range, as an easier-to-mount step-through option.
BMX Bikes: These bikes are designed for freestyle riding and stunts, with a lightweight frame, small wheels, and strong brakes. They are popular among younger riders and in the sport of BMX racing.
The Launch is another very exceptional bike from Kink, continuing their history. packed with premium parts at an incredible price. Both a sealed integrated headset and a sealed mid-bottom bracket are included, greatly enhancing performance and reducing maintenance requirements for these parts.
The Launch has a parts package that includes Mission Triumph 3-piece chromoly cranks, Kink Stryker forks, and Kink T875 8.75″ bars, making it a beginner’s ideal bike.
Fat Bikes: These bikes have oversized tires, which provide more traction and stability on soft surfaces like sand, snow, or mud. They are ideal for off-road riding in extreme conditions.
The debut of INTHERAIE BIKE’s newest products, two new electric bikes with fat tyres named INTHEAIR ROCKET and INTHEAIR ROCKET ST, was announced.The top speed of ROCKET, which has a 750w powerful rear motor, is 28 MPH.
In addition, the IntheAir Rocket has a strong 696Wh battery that can travel up to 55 miles on a single charge. This battery is made to be removed from the bike frame with ease, making charging and storing it a breeze.
BICYCLE MARKET COMPETITIVE LANDSCAPE
|1||Jan 2022||Dorel Industries||Completed its sale of Dorel Sports — which includes Cannondale, Schwinn, GT, Mongoose and other bike brands — to Pon Holdings, for $810 million. The planned acquisition was announced in October.|
|2||Jan 2022||BikeExchange||BikeExchange, the Australia-based marketplace, has acquired Kitzuma, a bike-shipping service that launched last December for $3.4 million.|
|3||Jan 2022||Bike.Rent |
|Bike.Rent Manager, a bike rental software platform, has secured 490,000 pound ($648,000) investment in a recent funding round in partnership with Universum Wealth|
|4||Nov 2021||Porsche||Porsche will acquire a majority interest in the Greyp e-bike brand. The sports car manufacturer’s venture capital segment, Porsche Ventures, has held about a 10% stake in Greyp since 2018|
|5||Nov 2021||Rad Power Bikes||Investors are pumping another $154 million into Rad Power Bikes, following a $150 million investment announced in February.|
The Global bicycle market is highly fragmented and includes many international and regional players. To gain a 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.
Moreover, leading manufacturers such as Accell Group, Trek Bicycle Corporation, Dorel Industries Inc., and Giant Manufacturing Co. Ltd. in the market are focusing on leveraging opportunities posed by the emerging markets of Asia-Pacific, like Thailand and India, and also to expand their revenue base all over the global market.
The recent developments in the bicycle market are given below:
|1||Q2-2021||Pon BIke||They have acquired the Dutch electric cargo bicycle brand Urban Arrow and it is currently active in 20 countries, making it one of the fastest growing manufacturers in the world.|
|2||Q2-2021||Hero and yamaha Motors||Both these manufacturers has said that they had entered into an agreement to create a global E-cycle drive unit company.|
|3||Q2-2021||Giant||They have introduced a new generation of its Revolt gravel bikes namely Revolt Advanced Pro and Revolt Advanced.|
|4||Q2-2021||KOGA||In the Netherlands, police officers on top-quality KOGA and Betavus patrol and city bikes have taken to the streets. This is the first time that the police are making use of the bikes.|
|5||Q2-2021||Dorel Industries||They have launched two new Cannondale products in the market namely Dorel Habit NEO and Dorel Adventure NEO.|
|6||Q2-2021||Specialised Bicycle Components||The company has released the latest addition to their kids bike fleet with Jeet, an adjustable, perfectly proportional bike for next generation riders.|
|7||Q2-2021||Giant Technology||Giant has introduced the all new Trance X Advanced Pro 29, a full-composite trail bike with updated maestro rear suspension technology.|
- In September 2021, Yamaha introduced a new electric bicycle named the new Yamaha PW-X3, which has a mid-motor drive system that achieves reduction in the size and weight of the cycle with electrically assisted pedals.
- In September 2021, Genesis announced the launch of its Columbia and Smithfield electric bicycles that are practical urban bikes with pedal assistance.
- In September 2021, New Motion Labs showcased the new Enduro Evolve Cargo series which includes the Cargo, Cargo+ and the super Cargo. The company uses a new proprietary sprocket tooth profile technology that incorporates a conventional roller chain to transfer power on both sides of the teeth which reduces frictional wear and improves efficiency.
- In September 2021, ZF announced the launch of a new super fast speed sensor which integrates the ABS into high specification electric bicycles and speed pedelecs.
- In September 2021, VAAST bikes announced the development of the company’s first electric bicycle which will be manufactured sustainably by sourcing materials locally and packaging the bike without plastic. The bicycle will have a pedal-assist and full suspension platform.
- In May 2021, Nexus Mobility announced the launch of a cargo version of its bicycle model Roadlark with a payload capacity of 50 kgs.
- Merida uses the innovative smart bikes system developed by MAHLE for some selected electric bike range X35 drive systems.
- Charge bikes announced the launch of a new electric bike incorporated with the latest technology developed by the company.
In the year 2019, Trek Bicycle launched the new Madone SLR 6 Disc Speed, the bicycle is integrated with the removable aero bars. It is designed specially to ride in hilly and mountainous areas with winding roads.
In the year 2019, SCOTT sports SA announced the acquisition of the company Bold Cycles which provides a sophisticated framework as well as technical custom-made bicycle products. The acquisition is set to serve the customers that demand bicycle customisation in accordance with respective needs.
The bicycle connectivity company Leopard Tech has announced partnership with the bicycle insurance company Bikmo. The partnership is set to offer accessory and bicycle manufacturers a range of insurance options and solutions according to the needs of the customer. The company has plans to upgrade the Leopard Lync which is a bicycle connectivity anti-theft and tracking solution to enhance the protection of the riders.
The Dutch electric bike manufacturer VanMoof announced acquisition of investment worth $128 million in the series C minority investment round which was led by an equity firm based in Asia. The investment has raised the total funding of the company to $182 million which will be used in the expansion of production activities and enhance the software and hardware infrastructure of the bicycles.
The major developers are focusing on expanding their business by acquiring small companies. For instance, Hero cycles acquired 48% equity in HNF NICOLAI which is a vehicle manufacturer based in Germany.
The acquisition is set to help Hero to expand to global markets primarily through Europe. The company Van Der Wal was acquired by Beeren Groep NV which is an automotive supplier manufacturing company based in Belgium.
Peloton Interactive revenue in the last quarter grew 54% as compared to the quarter of the year 2020, to revenue worth $937 million.
Furthermore, companies are adopting competitive strategies by investing more to develop new-generation technologies for the production of bicycles, so as to develop a unique product portfolio.
Additionally, companies are using digital and social media advertisements to make consumers aware of the new product launches in the market.
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 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.
- Hero Motors Company will invest Rs 400-500 crore in its European bicycle and electric bike businesses with an aim to grow revenues from abroad five-fold over the next few years. The group will utilise the resources to scale up operations of its existing businesses in the UK and Europe, and to acquire a new company in the continent for which talks are underway.
- Alchemy Bikes’ newest full-suspension mountain bike is the carbon Arktos, designed for three travel configurations and two-wheel sizes.The Arktos features modernized geometry with low stand over to improve manoeuvrability and utilizes dual water-bottle mounts.
THIS BICYCLE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS
- Bicycle Market size and Forecast, by region, by application
- Average B-2-B price for Bicycle Market, by region, per user
- Technology trends and related opportunity for new Bicycle Market tech suppliers
- Bicycle Market share of leading vendors, by region,
- Coronavirus impact on Bicycle Market earnings