Bicycle Market Analysis

The global bicycle market is segmented and analyzed for demand and supply by technology into conventional and electric. Amongst these segments, the electric segment is anticipated to garner the largest revenue by the end of 2037, backed by the growing replacement of mopeds & motorcycles along with the surge in the use of e-bikes worldwide. Moreover, there have been stringent government regulations in relation to the reduction of emissions of carbon dioxide, and are expected to boost the growth of the segment in the market. For instance, the sale of e-bikes is expected to reach 2 lakh units in the FY 2022-23 in India. Also, it was observed that, electric bike (e-bike) can travel up to 45km/h (28mph) potentially replacing fossil-fuel-powered motorcycles and mopeds.

The global bicycle market is also segmented and analyzed for demand and supply by distribution channel into in-store and online segments. Traditional brick-and-mortar merchants such as sporting goods stores and bike shops are included in the in-store segment. Moreover, e-commerce portals and direct selling are included in the online sector. As more people use the internet for purchasing and the ease of online sales and home delivery, the online market is also expanding quickly. However, out of these segments, the in-store segment is projected to garner a higher market share by the end of 2037. This can be owed to the ease of physically experiencing and scrutinizing the product before purchasing it, and that accounts for a substantial portion of the market share held by the in-store segment. This is particularly true for developing countries such as India, where a lot of people still use bicycles as a primary means of transportation.

Our in-depth analysis of the global bicycle market includes the following segments: