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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Bicycle Market Size
The global bicycle market attain a value of USD 76.7 billion in 2023. The market is expected to grow at a CAGR of 6.6% in the forecast period of 2024-2032 to reach a value of USD 136.5 billion by 2032.
The global bicycle market is stimulated by the rising urbanisation, due to which there is growing traffic congestion. Therefore, people are increasingly adopting bicycles to avoid traffic jams and get to their destination faster as compared to bigger vehicles. With the rising traffic jams, the market for bicycles is expected to increase during the forecast period.
Bicycle Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global bicycle market attained a value of nearly USD 76.7 billion.
The market is projected to grow at a CAGR of 6.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 136.5 billion by 2032.
The major drivers of the industry, such as rising disposable incomes, rapid urbanisation, growing population, rising traffic congestion, growing fitness awareness, and rising biking competitions, are expected to aid the market growth.
The key trends guiding the growth of the bicycle market include the rising launch and adoption of e-bicycles.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading products in the market are mountain bicycles, hybrid bicycles, and road bicycles, among others.
The major price segments of the product in the industry are premium, mid-range, and low range.
The significant end uses in the industry are men, women, and kids.
The major players in the industry are Accell Group, Cycling Sports Group, LLC, Avon Cycles Limited, Giant Bicycles, Merida Industry Co., Ltd., SCOTT Sports SA, Trek Bicycle Corporation, Hero Cycles, Santa Cruz Bicycles, LLC, and Marin Mountain Bikes Inc., among others.
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