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Sports Bicycle Market (Product Type - Mountain Bicycles, Cyclo-cross Bicycles, Road Racing Bicycles, and Track Racing Bicycles; Application - Offline Retail, and Online Retail; End-user - Adult’s Sports Bicycle, and Kids Sports Bicycle): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : November, 2020

  • Rep Id : CGP026

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on sports bicycle market provides an in-depth analysis of segments and sub-segments in the global as well as regional sports bicycle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sports bicycle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global sports bicycle market. According to the report, the global sports bicycle market is projected to grow at a CAGR of 6.1% over the forecast period of 2020-2026.

 

Market Insight

The modern bicycle was invented in the year 1817 in Germany. Since its conception, the bicycle has evolved significantly with several innovative features and characteristics. Along with bicycles, the associated sports also evolved. These new sports required bicycles and other equipment with specific features and modalities. Sports bicycles are designed to be fast and easy to maneuver on mountainous, rocky land as well as on smooth surfaces like roads. These bicycles are equipped with high-quality gear and brake systems to benefit riders increase their performance and experience while riding. Tires wider than those used in road bicycles are used in the case of mountain bikes. While the road bike is lighter so that its weight does not hold the cyclist back during long, steep climbs. The sports bicycle market is expected to grow during the forecast period.

 

The spread of COVID-19 has severely affected the sports bicycle market across the globe. Several governments across various countries around the world have imposed lockdown orders as a control measure to stop the spread of coronavirus. The lockdown orders prohibit most of the outdoor activities including exhibitions, and sports events. Moreover, the shortage of components and bicycles is another major challenge faced by the industry during the pandemic. Lockdown in countries including China, Taiwan, India, and Japan has compelled the vendors to shut down their production facilities. This, in turn, has decreased the production of sports bicycles during the pandemic. Other countries dependent on the import are facing a severe shortage of sports bicycles during the pandemic. The lower production and shortage of sports bicycles in the market are estimated to hamper the market growth in the short term.

 

Growing cycling participation among consumers is driving the growth of the sports bicycle market. As per new research from PeopleForBikes, over 100 million people rode a bike at least once in 2016, ages 3 and above. The higher cycling participation by the consumers augments the sale of sports bicycles in the global market. Furthermore, the development of bicycle-friendly infrastructure is propelling the growth of the market. Additionally, a large number of cycling events organized across the world. This is augmenting the demand for the sports bicycle market. However, the high cost of a sports bicycle is affecting the growth of the market. Moreover, growing government initiatives to promote cycling and outdoor activities offers lucrative opportunities to the vendors.

 

Europe holds a large market share in the sports bicycle market owing to the professional bicycle road-racing. The sport of cycling is held mostly in continental Europe. Almost 20.000.000 bicycles and EPACs are sold annually across Europe, out of which around 13.000.000 are produced in the EU. Furthermore, the European bicycle industry is committed to working as well towards the future of Bicycles and Pedal-Assist Electric bicycles in the context of Intelligent Transport Systems, Connectivity, and Access to Data. Moreover, the bicycle shops in Europe focus more on mountain and racing bikes due to increasing interest in MTB cycling.

 

Segment Covered

The report on the global sports bicycle market covers segments such as product type, application, and end-user. On the basis of product type, the sub-markets include mountain bicycles, cyclo-cross bicycles, road racing bicycles, and track racing bicycles. On the basis of application, the sub-markets include offline retail and online retail. On the basis of end-user, the sub-markets include adult’s sports bicycle, and kids sports bicycle.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Atlas Cycles Ltd., F.I.V. E. Bianchi S.p.A., GIANT Manufacturing Co. Ltd., DOREL Industries Inc., Hero Cycles Ltd., Jenson USA, K2 Sports, LLC, Alta Cycling Group, Seven Cycles, Inc., and Trek Bicycle Corporation.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of sports bicycle market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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