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.
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.
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.
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
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.