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The bicycle market trends is projected to grow steadily at a CAGR of 5.8%. The bicycle market is anticipated to increase from US$ 59,882.2 Mn in 2021 to US$ 109,511.7 Mn by 2032, according to FMI.

Bicycles have been a popular mode of transportation for decades, and their popularity is expected to continue growing in the future. Here are some of the factors driving this trend:

Health and Fitness: Bicycling is an excellent form of exercise and is gaining popularity as a way to stay fit and healthy. The growing awareness of the importance of a healthy lifestyle is expected to increase the demand for bicycles in the future.

Environmental Concerns: Bicycles are an eco-friendly mode of transportation that does not produce emissions or contribute to air pollution. As environmental concerns grow, the demand for bicycles is expected to rise.

Urbanization: As cities become more crowded, bicycles offer a practical and convenient solution for short trips and commuting. The development of bike-friendly infrastructure, such as bike lanes and bike-sharing programs, is further driving the demand for bicycles in urban areas.

Technological Advancements: The development of e-bikes, which feature electric motors that assist with pedaling, has made cycling more accessible and enjoyable for many people. The growing popularity of e-bikes is expected to contribute significantly to the growth of the bicycle market in the future

The customer demand for bicycle as a practical form of exercise to ensure a healthy life free from obesity and other illnesses is predicted to further boost the bicycle market share. Many governments are aggressively constructing the infrastructure needed to support bicycle commuting at the same time, which boosts demand for bicycle.

The creation of dockless bicycle sharing services that use mobile apps is the result of recent advancements in GPS technology and mobile app development. The widespread usage of such dockless bicycle-sharing programmes is also anticipated to significantly raise bicycle sales.

Due to the emergence of several online bicycle booking platforms through web portals and mobile applications, such Uber Bike, Yulu, and others, it is anticipated that the use of cars is rising. This presents numerous opportunities in the bicycle market.

The bicycle market growth is expected to be further fueled by expanding media coverage of such events and the growing influence of celebrity endorsement. Building the infrastructure necessary to encourage and support bicycle commuting is a top priority in China, Japan, and Singapore.

For more information: https://www.futuremarketinsigh....ts.com/reports/bicyc
Key Takeaways from Market Study

The bicycle market is expected to have a CAGR of 4.76% during the forecast period.
The bicycle marketis having a market valuation of US$ 1159.6 billion in 2022
The market is segmented based on product, wherein the road bicycle accounted for an adequateglobal bicycle market share of 40% in 2021.
The market is segmented based on end user, wherein the men segment accounted for a global bicycle market shareof 40% in 2021.
The market is segmented based on technology, wherein the conventional segment accounted for a significantglobal bicycle market revenue share of 80% in 2021.
The Asia-Pacific bicycle marketis anticipated to grow at the fastest rate, with a revenue share of 30% during the forecast period.
The Europe bicycle marketis expected to grow significantly with a CAGR of 10.4% during the forecast period.
Competitive Landscape:

Key players in the bicycle market can develop and promote newer, better products at higher price points in order to maintain a competitive edge in the bicycle market. As there are so many important players in the bicycle market, the expansion of the market is highly fragmented and diverse in its structure.

Some of the major participants in the bicycle market are:

Accell Group, Atlas Cycles (Haryana) Ltd., Avon Cycles Ltd., Cervelo, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd., Specialized Bicycle Components, Inc., SCOTT Sports SA, and Trek Bicycle Corporation.

In order to grow its business in this sector, Beerens Groep NV, a Belgian automotive supplier company, in July 2020, purchased the distributor of a felt brand from its French parent company Skis Rossignol S.A., Van Der Wal.
Pony is a 2017 app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

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Future Market Insights (FMI) projects the cargo bike market to grow at 11.6% CAGR during forecast period. The cargo bike market is set to reach US$ 2,829.5 Million by the end of 2031.

Key Takeaways from Cargo Bike Market Study

Three wheeled cargo bikes are anticipated to account for 423 Mn by the end of 2021, owing to courier delivery, personal transport, and warehouse transport applications.
US$ 3,501-6,000 price range segment sales accounted for US$ 414 Mn supported by availability of electric and conventional cargo bikes.
Germany leads the Europe market with a US$ 253.8 Mn sales figure in 2021 because of ease availability of raw material and government incentives.
The U.S. will hold around 92% of the North America market through 2031, supported by the presence of major logistics players in the country.
In 2021, the Brazil cargo bike market will rise at steady 6.1% CAGR, with investments into low cost logistics gaining ground in the country.
For more information: https://www.futuremarketinsigh....ts.com/reports/cargo
“The global rise in traffic congestion coupled with growing demand from the logistics sector, especially following the outbreak of the COVID-19 pandemic is expected to drive the market for cargo bikes, through the end of 2031” says a Future Market Insights analyst.

Competitive Landscape

The global cargo bike market is highly competitive at regional, country, as well as global level, and highly fragmented in nature. Top companies operating in the market contribute notably to revenue generation. With compliance to governmental standards and regulations, these companies have a global brand presence.

Some of the key players included in the report are:

Accell Group N.V. (Carqon), Jinhua Jobo Technology Co., Ltd., BODO Vehicle Group Co., Ltd. (LUXMEA), Chongqing Mobimax Technology Co., Ltd., Mobility Holdings, Ltd. (Tern Bicycles), Riese & Müller GmbH, Urban Arrow, Worksman Cycles, Yuba Electric Cargo Bikes, Rad Power Bikes Inc., and others.

With the rise of e-commerce operations, logistical flows are witnessing significant expansion, creating transport and time-sensitive operational challenges. Sustainable urban logistics development is becoming increasingly vital to keep up with quality-of-life parameters in urban centers, while solving two major problems—congestion and poor air quality. These factors are critical to sales of cargo bikes.

The usage of cargo bikes as a mode of transportation for urban freight flows has a favourable impact on these issues, compelling manufacturers to invest more in the manufacturing sector, thereby fuelling the demand for cargo bikes in the long term.

Increasing monetary and non-monetary incentives are encouraging the adoption of battery-operated cargo bikes. Moreover, the need for sustainable urban mobility and modern transportation is driving the transition from conventional fuel bikes to paddle assisted and battery assisted cargo bike for mode of transport.

FMI projects demand among courier and parcel services providers to rise at 11.8% over the assessment period. Focus on curbing carbon footprint by the industry will remain a chief growth driver. Cargo bikes are anticipated to have a positive influence on energy security and air quality.

Cargo Bike Market by Category

By Product Type:

Two Wheeled
Three Wheeled
Four Wheeled
By Propulsion:

Conventional
Electric
By Price:

Below US$ 1,500
US$ 1,500-3,500
US$ 3,501-6000
Above US$ 6,000
By Wheel Size:

Below 20″
20″-24″
26″
27.5″
Others

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