According to a new market report, 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.
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.
Key Topics Covered:
1. Executive Summary
2. Bicycle Industry Background and Classifications
3. Industry Trends and Forecast Analysis
4. Competitor Analysis
5. Growth Opportunity & Strategic Analysis
6. Company Profiles for Leading Players
- Accell Group N.V
- Dorel Industries Inc.
- Giant Manufacturing Co. Ltd.
- Merida Industries Co.
For more information visit http://www.researchandmarkets.com/research/8fkfq2/growth
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SOURCE Research and Markets