By end uses, the industry is segmented into men, women, and kids. On the basis of product, the industry is divided into:īased on technology, the industry is bifurcated into electric and conventional. As a result of increased demand, the market is witnessing industry development of innovative bicycles and accessories, which will further the industry growth in the forecast period.īicycle: Industry Definition and Segmentationīicycle is a vehicle that aids in reducing pollution and is extensively promoted by organisations as an environment-friendly transport. Moreover, factors, such as an increase in the women’s participation rate and favourable government schemes, are expected to strengthen the market growth of bicycles in the region. These countries have started hosting several tournaments, which are expected to enhance the popularity and demand for sports bicycles. Countries such as China, India, Australia, Japan, and South Korea are the significant contributors to the market growth. The Asia Pacific region is actively supporting the growth of the global bicycle market as the regional market is growing at a robust pace. Growing Demand for Bicycles from the Asia Pacific to Enhance the Global Bicycle Market With the rising traffic jams, the market for bicycles is expected to increase during the forecast period. Therefore, people are increasingly adopting bicycles to avoid traffic jams and get to their destination faster as compared to bigger vehicles. The global bicycle market is stimulated by the rising urbanisation, due to which there is growing traffic congestion.
Icycle 2017 pdf#
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF The market is expected to grow at a CAGR of 5.2% in the forecast period of 2022-2027 to reach a value of USD 68 billion by 2026. The global bicycle market to attain a value of USD 54 billion in 2020.
0 kommentar(er)
