LONDON, Aug. 3, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global bicycle market looks good with opportunities in e-bikes, road/standard, mountain terrain bike (MTB)/racing, and kid's bicycle segments. The global bicycle market is forecast to grow at a CAGR of 2.4% from 2016 to 2021. The major growth drivers of this market are increasing fitness consciousness among people, increasing concern towards environment, increasing traffic congestion, and government schemes to promote cycling.
In this market, road/standard, MTB/racing, Kids, e-bikes are some of the major segments of bicycle industry. On the basis of comprehensive research, Lucintel predicts that the demand for e-bike is expected to show the highest growth in the forecast period. E-bikes are popular in many countries as a green means of transportation.
Within the global bicycle market, e- bikes segment is expected to be the largest segment because these bicycles fulfill user's need of low-cost transportation and in many parts of the world electric-power bicycles are considered as a 'green transport vehicle.
Asia Pacific is expected to remain the largest region during forecast period supported by huge population and increasing usage of bicycle as a sustainable mode of transportation. Asia Pacific is expected to witness the highest growth over the forecast period driven by growing population and government initiatives to promote sustainable transportation and a healthier life style. Growth in economies and rising disposable income of the middle class are expected to increase demand for premium/high end bicycles in this region.
For business expansion, the report suggests innovation and new product development to enhance the performance of bicycle by making it lightweight and comfortable. The report further suggests the development of partnerships with customers to create win-win situations and the development of performance-driven solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of folding electric bicycles and increasing demand of bicycles with better safety feature and appearance. Giant Manufacturing Co. Ltd., Accell Group N.V, Merida Industries Co. Ltd., and Dorel Industries Inc. are among the major suppliers of bicycles. Some companies are opting for merger and acquisition as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bicycle industry by bicycle type and region and has come up with a comprehensive research report, "Growth Opportunities in the Global Bicycle Industry 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global bicycle industry through 2021, segmented by bicycle type and region as follows:
By bicycle type (Value $ Billion from 2010 to 2021):
Road/Standard Bicycle MTB/Racing Bicycle Kids Bicycle E-bikes Others
By region (Value $ Billion from 2010 to 2021):
North America Europe Asia Pacific Rest of World
This report answers following 11 key questions:
Q.1. What are some of the potential, high-growth opportunities for the global bicycle industry, by bicycle type and region?
Q.2. Which product /segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. How is the competitive rivalry and threat of substitution in this market?
Q.11. What are M&A activities in the last 5 years in this market? What reasons to these activities and how have they impacted the industry?
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of "Growth Opportunities in the Global Bicycle Industry 2016-2021: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global bicycle industry size estimation in value ($B). Trend and forecast analysis: Global bicycle industry trend (2010-2015) and forecast (2016-2021) by region and segment. Segmentation analysis: Global bicycle industry size by various segment types such as road/ standard, MTB/racing, kids, E - bikes, and others in terms of value. Regional analysis: Global bicycle industry breakdown by key regions such as North America, Europe, Asia Pacific and Rest of World. Growth opportunities: Analysis on growth opportunities in different segment and regions. Strategic analysis: This includes M&A, new product development, and expansion strategies of manufacturers in the global bicycle industry. Emerging applications: Emerging applications of the global bicycle industry in various markets. Analysis of competitive intensity of the industry based on Porter's Five Forces model
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