Bicycles have played an important role in the recent history of man. They have also managed to accede with the relentless evolution of the transportation system. As concerns over global warming continue to grow, more number of consumers are expected to opt for bicycles. Moreover, the new hybrid models and electric powered bicycles are gaining healthy popularity among consumers as well. Factors as such are expected to influence the global sales of men’s bicycle in the forthcoming years. Men’s bicycle offer a sustainable mode of transportation with health, environmental and price benefits. However, bicycle is not the most suitable option for long distance travelling as it mainly runs on force that is manually generated by the rider. In terms of performance, gasoline powered vehicles have a significant advantage over bicycles, which continues to restrict any value growth in adoption of bicycles. Today, bicycles are rather used as an exercise tool than as a means of transportation. Rapid expansion of metro cities coupled with longer travelling distances from home to work place or home to marts is making the uses of bicycle impractical for covering such distances. These factors will be instrumental in defining the future prospects of the global men’s bicycle market. Fact.MR’s recently published report projects that the global men’s bicycle market will surpass a valuation of US$ 24,900 Mn by the end of 2022.
Men’s bicycle is a pedal-driven, single-track vehicle with two wheels attached to a frame. Common among professional bicyclists who compete in cycling events, these bicycles can also be used for exercise, recreation, transport and competing in sporting events.
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On the basis of product type, demand for hybrid bicycles will continue to gain traction during the forecast period (2017-2022). Currently, the global sales of hybrid bicycle represent more than one-third revenue share of the global men’s bicycle market. Towards that end of 2022, over US$ 9,605 Mn worth units of men’s bicycles are estimated to be sold worldwide.
Among regions, Asia-Pacific excluding Japan (APEJ) is expected to dominate dlobal men’s bicycle market in terms of revenue through other assessment period. Further, the market in the region is expected to witness a relatively higher growth between 2017 and 2022. Owing to the rising pollution levels, governments in counties such as China and India are encouraging and promoting the use of bicycle.
Giant Manufacturing Co., Ltd., Atlas Cycles (Haryana) Limited, Trek Bicycle Corporation, Tube Investments of India Limited, Accell Group N.V., Dorel Industries Inc., Merida Industry Co. Ltd., Tandem Group plc, Samchuly Bicycle Co., Ltd, and Youngone Corporation are the leading market players profiled in the Fact.MR’s report.
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