The global sports bicycle market is anticipated to grow at a CAGR of 7.8% during the forecast period (2022-2028). The global sports bicycle market is growing due to increasing popularity of bicycle rental programs, the demand for premium and luxury bikes, and considerable growth and fluctuations in the price are such factors that are contributing in the increasing demand for cycling globally and due to it the sports bicycle market is growing. Bicycle is an eco-friendly mode of transportation and is available in a wide range including cargo bikes, electric bikes, and mountain bikes. The increasing number of sports tournaments, fun activities, bicycle rallies, and competitions globally is boosting the growth of the market. The increasing attraction of the millennials in different types of bicycle tournaments such as Tour de France and LoToJa in the North American and European regions is propelling the growth of the market. The rising trend of mountain rides and adventures by youth and millennia’s are contributing in the growing demand for the product.
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Moreover, the awareness among the individual about the environmental pollution caused by the emission from petrol and diesel vehicles and their initiative to change the environment and adopt some environment-friendly mode of transport is driving the demand for sports bicycles. The rise in disposable income in emerging economic countries is also boosting the growth of the market. Additionally, bicycles are easy to use and do not require any kind of driving license enabling customers of different age groups to adopt the bicycle as their mode of communication and is expected to propel the growth of the global sports bicycle market in the forecast period. Additionally, sports bicycles are equipped with superior gears and brake systems that aid manages speeds better, to advantage riders increase their performance and experience and make riding on mountain trails, bridges, and rough roads easier. Approximately maximum number of people now choose to bike to work, exclusively with city governments as they are constructing bike-friendly streets owing to such factors the demand is increasing.
Some major players in the market include Cervelo, Dorel Industries, Giant Bicycles, MERIDA BIKES, Olympus Bikes, SCOTT Sports SA, and Specialized Bicycle Components, Inc., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance:
- In January 2022, Brompton Bicycle Ltd., launched first titanium fold-up bicycle made in the UK that aims to use lightweight metal, more typically used for aircraft, rockets, and Formula 1 cars, to take advantage of the pandemic boom in cycling.
- In September 2021, Rapha Racing Ltd., partnered with BAUM FACTORY for the launch of a special edition version of Baum’s next-generation all-rounder titanium road bike, the Orbis.
- In May 2021, SILCA launched first 3D printed bike product, a titanium computer mount dubbed the Mensola that claimed to be stronger, lighter, and more aerodynamic than a CNC-machined aluminum equivalent.
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Competitive Landscape-
Cervelo, Dorel Industries, Giant Bicycles, MERIDA BIKES, Olympus Bikes, SCOTT Sports SA, and Specialized Bicycle Components, Inc. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
By Product
- Mountain Bicycles
- Cyclo-Cross Bicycles
- Road Racing Bicycles
- Track Racing Bicycles
By Application
- Kids
- Adults
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Scope of the Report
The research study analyzes the Global Sports Bicycle industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Sports Bicycle Market Report
1. What was the Global Sports Bicycle Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Sports Bicycle Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Sports Bicycle Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Sports Bicycle market.
- The market share of the Global Sports Bicycle market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Sports Bicycle market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Sports Bicycle market.
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