A new market study, titled “Discover Global Bicycles Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
According to the latest report added to the online inventory of Wise Guys Report (WGR) the Global Bicycles Market has recorded an unprecedented growth so far and the extrapolated growth indicates further rise by 2024 registering a healthy CAGR within the forecast timeline.
Bicycles are the most commonly used vehicle for transit in high congestion regions. E-bicycles and other technologically modified versions of simple bicycles are also available in the market catering to needs of different types of customers. Bicycles have recently become a popular choice for commuting comparably smaller distances due to multidimensional facets. Most consumers have shifted their lifestyle from a highly consumerism focused way of living to greener and healthier habits. This is where the use of bicycle perfectly fits the scene for working professionals and students who opt to take their bike over other modes of vehicular transport. Riding a bicycle has positive impact on one’s health and leaves no carbon footprint on the environment. Different adventure sports also endorse bicycles making it a fun and greener activity. The highly efficient mountain bikes and hybrid bikes have also been successful in attracting consumers who spend thousands of dollars to enjoy the associated lucrative features.
Key Players of Global Bicycles Market =>
Global Bicycles Market: Segmental Analysis
The segmentation of the global bicycles market can be done on basis of product type and the applications.
The global bicycle market is primarily divided not just based on the categories of bike but also by the mode of selling and distribution. Smaller local shops advertise only a handful of most popularly sold bicycle variants to keep the revenue flowing whereas mass retailers offer more choice by covering a comprehensive selection of bicycle stocks. Local shop purchases come with other benefits like repairs for wear and tear, tune ups and maintenance in affordable rates.
By product type there are 2 variants of bicycles available in the market namely Alloy Wheels and Carbon wheels.
Bifurcation on basis of applications indicates bikes used for multiple purposes such as road bikes, mountain bikes, gravel or cyclo-cross bike, track bike and others.
Global Bicycles Market: Regional Analysis
Bicycles are widely used in Asia, Europe and America attributed to the promotional campaigns undertaken by the respective governments and growing awareness toward environment friendly alternatives. A comprehensive study of the market condition put North America (United States, Canada and Mexico), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Europe (Germany, France, UK, Russia and Italy), South America (Brazil, Argentina and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa) as the most significant contributors to the global bicycle market.
The market is highly competitive and volatile owning to regional changes and product launches that affect the overall global platform.
Currently the Global Bicycles Market is driven with good returns and higher anticipation of future returns backed by new product launches, deployment of new acquisition and expansive strategies adopted by the leading global manufacturers and providers of eco friendly bicycles targeting to tap the market potential to the fullest.
Release ID: 88920636