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The global bicycle market size is anticipated to reach USD 92.49 billion by 2028, registering a CAGR of 7.0% over the forecast period
Increasing adoption of cycling as a form of leisure and awareness regarding the health benefits associated with cycling are the factors expected to bolster market growth. Bicycles are being preferred for short-distance commutes as they save considerable time as compared to other vehicles. Moreover, limited parking spaces and growing traffic congestions are prompting people to reconsider bicycles as a primary option for the commute.
Rising emphasis on the use of non-polluting vehicles for short-distance commutes by governments across the world is anticipated to positively influence market growth. The fact that bicycles do not emit any pollutants is projected to drive their demand in near future.
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NEW YORK, May 4, 2021 /PRNewswire/
The e-bike market is poised to grow by 15805.67 thousand units and accelerate at a CAGR of over 7% during 2021-2025. The market records incremental growth due to the health and environmental benefits associated with the use of e-bikes during the forecast period.
Technavio has announced its latest market research report titled E-Bike Market by Battery Type and Geography - Forecast and Analysis 2021-2025
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The declining cost of Li-ion batteries is one of the major factors propelling the market growth. However, the product recalls due to possible failures may impede the market growth.
E-bike Market to grow by 15805 67 thousand units through 2025|Key Drivers, Trends, and Market Forecasts prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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Outperforming the market consistently over prolonged periods of time is a rare and valuable attribute. To achieve it, a company is likely to have inherent advantages – such as superior technology, robust barriers to entry or benefit from a favourable regulatory environment. Plain luck is unlikely to be a factor.
For each of the past 20 years, we have compiled a mechanically selected portfolio of proven outperformers for the following next 12 months. These once-a-year Pan-European equity portfolios have beaten the index 16 times and lagged it on just three occasions - with one tie.
The global bicycle market size was valued at USD 20,280.0 Million in 2019. According to the bicycle market analysis the market is estimated to reach USD 28,667.3 Million by 2027. The bicycle market forecasted a growing CAGR of 4.8% from 2021 to 2027.
Major factors driving the growth of bicycle market are:
The rise in disposable income and surge in consumer spending on the bicycle industry.
Rise in health consciousness among consumers and preference for bicycles as economical means of exercising and travelling short distances.
Increase in demand for electric bikes and cargo bikes as electric bikes are safe, easy to operate, are low in maintenance and no license required.