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Global Bicycle Market 2018-2022 | Technological Advances in Bicycles Industry to Boost Growth | Technavio

November 12, 2019
Global Bicycle Market 2018-2022 | Technological Advances in Bicycles Industry to Boost Growth | Technavio
Global Bicycle Market 2018-2022 | Technological Advances in Bicycles Industry to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Nov 12, 2019--

The global bicycle market is expected to post a CAGR of close to 4% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global bicycle market 2018-2022. (Graphic: Business Wire)

The increasing adoption of bicycles due to the rising fuel prices will be one of the major drivers in the global market. Fuel prices have increased significantly, which is expected to continue fluctuating, resulting in customers shifting their preferences to bicycles as an easy mode of commute. Additionally, with the continuous rise in fuel prices, the demand for battery-powered sports bicycles and mountain bicycles has increased. Gear bicycles are easier to ride through mountain areas, overpasses, and rough roads and with the addition of gears, managing speed has also become easier. Affluent customers do not mind buying high-end bicycles because those cycles offer a better riding experience and security features. Therefore, due to such factors, the market for bicycles is expected to showcase a positive outlook during the forecast period.

To learn more about the global trends impacting the future of market research, download free sample:https://www.technavio.com/talk-to-us?report=IRTNTR21646

As per Technavio, the technological advances in bicycles industry, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Bicycle Market: Technological Advances in Bicycles Industry

The technological advances in bicycles industry will be one of the critical trends in the global market. Major technological changes have been implemented in bicycle lights which help to increase the visibility range of the riders. Some of the vendors in the market have launched handlebars with built-in LED headlights that can be fitted to any bicycle. Such innovative use of LED in handles and pedals are some of the features that are expected to drive market growth during the forecast period. Moreover, the introduction of lasers in the front light helps in projecting 15 meters down the road, thereby increasing safety. The laser light is preferred over normal lights as it provides 300 lumens of brightness. Thus, such advances are expected to boost market growth during the forecast period.

“Rising premiumization in the bicycle sector and the advent of recyclable bicycle frames are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Bicycle Market: Segmentation Analysis

This market research report segments the global bicycle market by product (on-road and track bikes; off-road bikes; and x-road and hybrid bikes), propulsion

(manual bicycle and motor-assisted bicycle), end-user (adults and children), distribution channel (specialty stores, sporting goods retailers, online channel, outdoor and toys specialty goods retailers, and others), and geographical regions (APAC, Americas, and EMEA).

The APAC region led the market share in 2017, followed by EMEA and Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the rising youth population, in India and China, with an interest in sports and exercise routines.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191111005733/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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SOURCE: Technavio Research

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PUB: 11/12/2019 02:30 AM/DISC: 11/12/2019 02:30 AM