Bicycle Market to Gain Momentum in Years to Come, According to New Report by MarketSizeInfo.com Published at MarketPublishers.com
12 Sep 2016 • by Natalie Aster
LONDON – The value of the worldwide bicycle market is projected to stand at USD 65 billion by 2019-end. The key factors driving the industry comprise the advent of cycling as a favourite fitness and recreational activity, increasing road traffic congestion, and soaring fuel prices. Rising need for low cost transportation services in developing economies contributes to the expansion of the bicycle sector. In spite of different challenges, the bicycle marketplace is likely to gain momentum in the foreseeable future.
The electric bicycle segment is expected to remain strong owing to the mushrooming demand from China. Developed nations like Japan, the USA, and the countries in Europe will also likely see huge growth in the segment on the back of its skyrocketing popularity there.
Bicycle producers are constantly adopting novel strategies to increase market share in the industry. Dorel Industries Inc., Giant Manufacturing Co. Ltd., Shimano Inc., Merida Industry Co. Ltd, and Accell Group NV, among others, are the dominant industry players. Innovation in battery technology is set to further improve battery life and reduce overall cost for consumers, which is anticipated to give a boost to the electric bicycle sector. The industry is facing certain challenges, including the soaring popularity of motor vehicles, undeveloped distribution network and growing raw material costs. Hence, it is vital for the manufacturers to keep a balance between cost and quality. Innovation of products on a regular basis is very essential for companies to stay competitive in the market space.
New in-demand study “Global Bicycle Market to 2020 - Market Size, Growth, and Forecasts in 60 Countries” drawn up by MarketSizeInfo.com offers a deep analysis of the bicycle marketplace.
The research publication presents granular, unbiased information pertaining to the market size and growth worldwide and for 60 countries individually. The report provides key market data and forecasts pertaining to the total market size for bicycles alongside the market size and prevailing trends for various product kinds – bicycles, bicycle forks and frames, bicycle brakes, husband bicycle free-wheel sprocket-wheels, bicycle wheel rims and spokes, bicycle saddles, bicycle pedals/crank-gear, etc. Furthermore, the study identifies and examines the potential regions and sectors, and casts light on how the overall bicycle market and various geographic markets will likely develop through to 2020.
More insightful research reports by the publisher can be found at MarketSizeInfo.com page.