The bicycle & components market was valued at US$ 45,080 million in 2016 and is projected to reach US$ 66,692 million by 2025, exhibiting a CAGR of 4.7% over the forecast period, according to Global Bicycle & Components Market Report, by Bicycle Type (Mountain Bike, Touring Bike, City Bike, Electric Bike, Children Bike, and Others), by Component (Rims, Saddles, Frames, and Others), by Materials (Continuous Fiber Composites, Discontinuous Fiber Composites, Metals, and Others), published by Coherent Market Insights.
Increasing concerns regarding fitness has urged individuals to use bicycles as a mode of routine exercise. Furthermore, novel designs of bicycles dedicated towards safety and comfort of the user has further boosted the adoption of various types of cycles across wide range of users based on their age, demographics, and interests. Constant fluctuations of prices for fuels used in motor vehicles and increasing awareness of environment-friendly transportation is improving the adoption of bicycles worldwide.
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Key Trends and Analysis of the Global Bicycle & Components Market:
Key Takeaways of the Market:
According to Coherent Market Insights’ research, China is one of the leading country in the e-bike as well as in public bike share in Asia Pacific region. Other factors contributing to the growth of bicycle in Asia Pacific region include rising population, increasing demand for cheap internal transportation systems, fuel efficient substitutes for vehicles, and growing trend of bikeshare & e-bike. Some of the major players operating in the global bicycle & components market include Atlas Cycles Ltd, Accell Group N.V., Caloi Inc., Avon Cycles Ltd., Cannondale Bicycle Corporation, Campagnolo S.r.l., Giant Bicycle Inc., Cycleurope AB, Hamilton Industries Ltd., and Derby Cycle Corporation.
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