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Bicycle demand expected to grow at decadal high of 20% due to pandemic-induced fitness awareness, says Crisil


Bicycle demand expected to grow at decadal high of 20% due to pandemic-induced fitness awareness, says Crisil
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Bicycle demand expected to grow at decadal high of 20% due to pandemic-induced fitness awareness, says CrisilBy
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In the five fiscals through 2019, bicycle sales volume logged a modest compound annual growth rate of ~5%. In fiscal 2020, it contracted a massive 22% as government purchases plunged and a large bicycle manufacturer downed shutters. However, last fiscal saw a turn for the better.
AFP
Overall sales growth this fiscal will support the profitability of bicycle makers, Crisil says.
India’s bicycle industry is pedalling to a decadal-high demand growth of 20% this fiscal, with sales likely to touch 1.45 crore units compared with 1.2 crore units last fiscal. The ongoing Covid-19 pandemic has spurred demand for bicycles owing to improving fitness consciousness and leisure requirements, said ratings agency ....

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Covid may have stalled many a cycle but has turned the wheel for the bicycle industry, writes Anil Singh


: Saturday, May 29, 2021, 2:30 AM IST
Covid may have stalled many a cycle but has turned the wheel for the bicycle industry, writes Anil Singh
June 3 is World Bicycle Day. In the Netherlands, almost everyone uses bicycles daily; the bicycle ownership per 1,000 persons there is 1,100. In China, it is 360 whereas in India it is a meagre 90. In Japan, ministers and bureaucrats pedal to work. Our Union Minister of State for Water Resources Arjun Ram Meghwal has been often seen cycling from his official bungalow to Parliament
Covid has stalled many a cycle but it has revived the bicycle industry worldwide. In India, sales which were stagnant grew by over two-fold in the last year, so much so that one has to wait four months for lightweight, geared cycles which cost up to Rs 3 lakh. ....

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