Bicycle Market Report 2024

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GLOBAL Bicycle MARKET REPORT 2024
Global,Regional,CountryAnalysis
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INTRODUCTION
The market can be segmented into several types of
bicycles, including mountain bikes, road bikes,
electric bikes, and others. Mountain bikes are
the most popular type of bicycle, followed by
road bikes. Bicycles are sold through several
channels, including online sales, specialty
stores, and mass-market retailers. The bicycle
market is driven by a diverse range of consumers,
including commuters, recreational riders, and
professional athletes. The COVID-19 pandemic has
also led to an increase in bicycle sales, as more
people are looking for safe and sustainable
transportation alternatives. The bicycle market
is geographically diverse, with North America,
Europe, and Asia-Pacific being the largest
regional markets. China is the largest market for
bicycles, followed by Europe and North America.
The bicycle market is highly competitive, with
several key players investing in product
development, marketing, and distribution to
maintain their competitive edge in the market
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KEY INSIGHTS
MARKET SIZE USD 65.2 billion
2023
CAGR 10.2
2023- 2030
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REVENUE MARKET SHARE BY SEGMENTS 2022

• Mountain
• Road
• Hybrid
• Others

Type Segment

• Men
• Women
• Kids

Application Segment

• Electric
• Conventional

Technology Segment
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Global Bicycle Market Revenue share for 2022
Asia Pacific 35
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Increasing Awareness of Health and Fitness and
Technological Advancements to Propel Market Growth
Drivers
High Cost, Limited Infrastructure and Weather
Conditions to Restrict Market Growth
Restraints
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AUTHOR'S PERSPECTIVE

• The Global Bicycle Market is witnessing
  significant growth in the near future.
• Mountain bicycle is the fastest-growing category
  over the forecast period. Mountain bikes are
  designed for off-road use and offer suspension,
  wider tires, and more durable frames, making them
  ideal for riding on rough terrain.
• Men's bicycles are often designed with larger
  frames, longer top tubes, and wider handlebars to
  accommodate their larger body size and longer
  limbs.
• Women-specific bicycles are designed with shorter
  top tubes, narrower handlebars, and more
  comfortable saddles to accommodate women's body
  size and proportions.

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KEY PLAYERS
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