3/19/2023 0 Comments Redline bicyclesBy region, East is predicted to hold the highest share in the global market accounting for more than 39% by 2032.By end user, men are projected to be major consumers with a market share of more than 45% in 2022.By price, mid-range bicycles are predicted to enjoy a market share of nearly 41% by 2032.Conventional bicycles are expected to hold the highest share of 73.1% under the technology segment in terms of value in 2022.At a CAGR of 8.4%, electric bicycles is estimated to be the fastest-growing segment under bicycle type from 2022 to 2032.Majority of major bicycle manufacturers are focusing on new model launches, particularly electric and mountain bicycles. Over the coming years, China is likely to be a major contributor to electric bicycle demand and supply. Electric bicycles will be an appealing segment during the evaluation period of 2022-2032 due to rapidly rising number of conscientious consumers. These advantages have been recognized by developing economies who have been promoting bicycling on a war footing.Įlectric bicycles’ growing popularity combined with increase in the number of national and international cycling events is expected to present lucrative prospects to bicycle stakeholders. Bicycles are not only good at combating obesity and digestive issues but are also cost-efficient. The global bicycle market is projected to expand at a value CAGR of 5.8% over the forecast period of 2022-2032 to reach a valuation of more than US$ 109 Bn by 2032.īicycling is favored by a majority of health-conscious individuals as well as a recreational sport.
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