The Bicycle Market Size was valued at USD 70 billion in 2023 and is expected to reach USD 150.05 billion by 2031 and grow at a CAGR of 10% over the forecast period 2024-2031.
Bicycles offer an eco-friendly and versatile form of transportation, with options like cargo bikes for errands, electric bikes for longer commutes, and mountain bikes for off-road adventures. Their ease of use and safety contribute to their popularity.
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As people prioritize health and fitness, cycling is increasingly viewed as a way to combat obesity and maintain a healthy lifestyle. This growing interest in cycling fuels market expansion. Additionally, cycling associations like "Go Out and Tour Somewhere" and "Road Soldiers Cycling Club" actively promote cycling by organizing sports tournaments, recreational rides, and rallies, further encouraging people to get on their bikes. This combination of health benefits, environmental friendliness, and engaging community events propels the bicycle market forward.
KEY DRIVERS:
Growing environmental concerns push people towards eco-friendly transportation options like bicycles.
Rising health consciousness fuels demand for bicycles as a way to combat obesity and stay fit.
The growing focus on health and fitness is a significant driver of the bicycle market. As people become more aware of the dangers of obesity and the importance of an active lifestyle, bicycles are increasingly seen as a convenient and accessible way to stay fit. Cycling offers a low-impact exercise option that can be easily incorporated into daily routines, whether for short commutes or dedicated exercise sessions. This trend towards prioritizing health and wellness is expected to continue driving demand for bicycles in the foreseeable future.
RESTRAINTS:
Safety concerns regarding traffic accidents and theft can deter people from cycling.
High-quality bicycles can be expensive, limiting affordability for some demographics.
OPPORTUNITIES:
Technological improvements in electric bikes can unlock wider adoption for longer distances and those seeking less physical exertion.
Development of versatile and user-friendly cargo bikes can attract individuals and businesses seeking eco-friendly alternatives for deliveries and errands.
By developing versatile and user-friendly cargo bikes, manufacturers can attract both individuals and businesses. These innovative bikes can cater to those seeking eco-friendly alternatives for deliveries and errands. It can replace your car trip to the grocery store with a convenient and spacious cargo bike. Businesses, particularly those focused on last-mile deliveries, can leverage cargo bikes to reduce their environmental footprint and navigate congested urban areas efficiently. As cargo bike designs become more user-friendly and offer increased cargo capacity, they have the potential to disrupt short-distance deliveries and transform the way we think about sustainable errands.
CHALLENGES:
Premium pricing for high-performance bicycles can be a barrier to entry for budget-conscious consumers.
Insufficient dedicated bike lanes and cycling paths can make cycling inconvenient and intimidating for some riders.
The ongoing war in Russia-Ukraine has disrupted the bicycle market, impacting supply chains and potentially raising production costs. While the bicycle industry isn't directly reliant on the warring nations, a significant portion of bicycle components are manufactured in Asia, particularly in countries that source raw materials from Russia and Ukraine. This includes key materials like aluminium, steel, and rubber, which are crucial for frame construction, handlebars, wheels, and tires. The war has disrupted the flow of these materials, leading to potential shortages and price hikes. There is 10-20% increase in raw material costs is possible, impacting production costs for bicycles globally. This could translate to a 5-10% rise in bicycle prices for consumers, potentially dampening demand, especially in regions already facing inflationary pressures. The sanctions imposed on Russia have disrupted traditional shipping routes, causing delays and increasing transportation costs. These combined factors can lead to inventory shortfalls and longer wait times for bicycles.
An economic slowdown can shadow the bicycle market, impacting both consumer spending and industry production. When disposable income shrinks, bicycles, particularly higher-end road bikes or e-bikes, may be seen as non-essential purchases. This can lead to a decline in sales, potentially by 10-20% as seen in some markets. The economic downturns can disrupt supply chains and inflate material costs. This can decrease the profit margins for manufacturers and force them to raise prices, further discouraging potential buyers. Moreover, economic uncertainty can lead to a decrease in investments in cycling infrastructure by municipalities. This stagnation in infrastructure development, crucial for creating safe and convenient cycling routes, can hinder the overall growth of the bicycle market.
By Product
Mountain Bikes
Hybrid Bikes
Road Bikes
Cargo Bikes
Others
Road Bikes is the dominating sub-segment in the Bicycle Market by product holding above 40% of market share. Road bikes are the most basic bicycles, requiring less maintenance and accessories compared to mountain or electric bikes. Additionally, the growing trend of customizing road bikes for specific purposes like racing or endurance riding is fueling their popularity.
By Design
Folding
Regular
Regular Bikes is the dominating sub-segment in the Bicycle Market by design holding around 65% of market share. Regular bikes offer a simpler and more affordable option compared to folding bikes. Their lower cost and wider variety cater to a broader range of consumers, particularly casual riders and budget-conscious buyers.
By Technology
Electric
Conventional
Conventional Bikes is the dominating sub-segment in the Bicycle Market by technology. Conventional bikes are significantly cheaper to purchase and maintain compared to electric bikes. Additionally, for recreational cycling and shorter commutes, conventional bikes offer a sufficient level of exercise and efficiency.
By End-user
Men
Women
Kids
Men is the dominating sub-segment in the Bicycle Market by end-user holding around 55% of market share. Men are often drawn to the technological advancements and performance features offered in high-end bicycles, such as advanced gear systems, lightweight materials, and aerodynamic designs. This focus on advanced technology drives demand for these bikes among the male demographic.
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By Distribution Channel
Online
Offline
Offline Retail Stores is the dominating sub-segment in the Bicycle Market by distribution channel. Offline stores allow for test rides, facilitating purchase decisions. Additionally, for complex bikes like electric bikes, in-person assistance with assembly and explanation of features can influence buying choices.
The Asia Pacific is the dominating region in the bicycle market holding 45% of market share, driven by several factors. Several major bicycle manufacturers are headquartered in this region. This strong local production base fuels affordability and accessibility of bicycles. The growing focus on sustainable transportation in densely populated Asian cities like Tokyo and Beijing is pushing residents towards cycling as a viable alternative.
Europe is the second highest region in this market which boasts a rich cycling culture and well-established cycling infrastructure. This ingrained cycling culture makes bicycles a natural choice for commuting and recreation.
North America is the fastest growing market for bicycles with the growth rate of 8-10%. This growth is fueled by a rising interest in outdoor activities and fitness cycling. The increasing investments in cycling infrastructure in major cities and growing popularity of e-bikes are attracting new riders.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Accell Group; Avon Cycles Ltd.; Cervelo; Dorel Industries Inc.; Atlas Cycles (Haryana) Ltd.; Giant Bicycles; Specialized Bicycle Components, Inc.; Merida Industry Co., Ltd; SCOTT Sports SA; Trek Bicycle Corporation and other key players.
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In October 2023: Merida launched its Silex gravel bike for better comfort, speed, and handling on any terrain. This new version boasts updated geometry, wider tires, and features designed for bikepacking and multi-surface adventures. Merida offers the Silex in six models, with both carbon fiber and aluminum frames.
In October 2022: Cervelo debuts its first mountain bike, the ZHT-5, boasting a lightweight carbon fiber frame for efficiency on rough terrain. Two models are available: the GX with a RockShox SID SL Select RL fork, and the higher-end XX1 featuring the SID SL Ultimate fork.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 70 Billion |
| Market Size by 2031 | US$ 150.05 Billion |
| CAGR | CAGR of 10% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes, Others) • By Design (Folding, Regular) • By Technology (Electric, Conventional) • By End-user (Men, Women, Kids) • By Distribution Channel (Online, Offline) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America |
| Company Profiles | Accell Group; Avon Cycles Ltd.; Cervelo; Dorel Industries Inc.; Atlas Cycles (Haryana) Ltd.; Giant Bicycles; Specialized Bicycle Components, Inc.; Merida Industry Co., Ltd; SCOTT Sports SA; Trek Bicycle Corporation |
| Key Drivers | • Bicycles as a handy method of exercise to prevent obesity and other diseases will improve the market. • Dock-less bike-sharing schemes are expected to boost bicycle demand. |
| RESTRAINTS | • Alternatives to commute and physical activities may hinder bicycle uptake. • The greater price of electric vehicles may hinder bicycle uptake. |
Ans:- The market size is expected to reach USD 70 billion by 2023.
Ans:- Accell Group; Avon Cycles Ltd.; Cervelo; Dorel Industries Inc.; Atlas Cycles (Haryana) Ltd.; Giant Bicycles; Specialized Bicycle Components, Inc.; Merida Industry Co., Ltd; SCOTT Sports SA; Trek Bicycle Corporation are the most prominent players in the market.
Ans:- Alternatives to commute and physical activities & greater price of electric vehicles may hinder bicycle uptake are the primary market restraints for Bicycle market.
Ans:- Yes.
Ans:- The study includes a comprehensive analysis of market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter’s five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Bicycle Market Segmentation, By Product
9.1 Introduction
9.2 Trend Analysis
9.3 Mountain Bikes
9.4 Hybrid Bikes
9.5 Road Bikes
9.6 Cargo Bikes
9.7 Others
10. Bicycle Market Segmentation, By Design
10.1 Introduction
10.2 Trend Analysis
10.3 Folding
10.4 Regular
11. Bicycle Market Segmentation, By Technology
11.1 Introduction
11.2 Trend Analysis
11.3 Electric
11.4 Conventional
12. Bicycle Market Segmentation, By End-user
12.1 Introduction
12.2 Trend Analysis
12.3 Men
12.4 Women
12.5 Kids
13. Bicycle Market Segmentation, By Distribution Channel
13.1 Introduction
13.2 Trend Analysis
13.3 Online
13.4 Offline
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 Trend Analysis
14.2.2 North America Bicycle Market, By Country
14.2.3 North America Bicycle Market Segmentation, By Product
14.2.4 North America Bicycle Market Segmentation, By Design
14.2.5 North America Bicycle Market Segmentation, By Technology
14.2.6 North America Bicycle Market Segmentation, By End-user
14.2.7 North America Bicycle Market Segmentation, By Distribution Channel
14.2.8 USA
14.2.8.1 USA Bicycle Market Segmentation, By Product
14.2.8.2 USA Bicycle Market Segmentation, By Design
14.2.8.3 USA Bicycle Market Segmentation, By Technology
14.2.8.4 USA Bicycle Market Segmentation, By End-user
14.2.8.5 USA Bicycle Market Segmentation, By Distribution Channel
14.2.9 Canada
14.2.9.1 Canada Bicycle Market Segmentation, By Product
14.2.9.2 Canada Bicycle Market Segmentation, By Design
14.2.9.3 Canada Bicycle Market Segmentation, By Technology
14.2.9.4 Canada Bicycle Market Segmentation, By End-user
14.2.9.5 Canada Bicycle Market Segmentation, By Distribution Channel
14.2.10 Mexico
14.2.10.1 Mexico Bicycle Market Segmentation, By Product
14.2.10.2 Mexico Bicycle Market Segmentation, By Design
14.2.10.3 Mexico Bicycle Market Segmentation, By Technology
14.2.10.4 Mexico Bicycle Market Segmentation, By End-user
14.2.10.5 Mexico Bicycle Market Segmentation, By Distribution Channel
14.3 Europe
14.3.1 Trend Analysis
14.3.2 Eastern Europe
14.3.2.1 Eastern Europe Bicycle Market, By Country
14.3.2.2 Eastern Europe Bicycle Market Segmentation, By Product
14.3.2.3 Eastern Europe Bicycle Market Segmentation, By Design
14.3.2.4 Eastern Europe Bicycle Market Segmentation, By Technology
14.3.2.5 Eastern Europe Bicycle Market Segmentation, By End-user
14.3.2.6 Eastern Europe Bicycle Market Segmentation, By Distribution Channel
14.3.2.7 Poland
14.3.2.7.1 Poland Bicycle Market Segmentation, By Product
14.3.2.7.2 Poland Bicycle Market Segmentation, By Design
14.3.2.7.3 Poland Bicycle Market Segmentation, By Technology
14.3.2.7.4 Poland Bicycle Market Segmentation, By End-user
14.3.2.7.5 Poland Bicycle Market Segmentation, By Distribution Channel
14.3.2.8 Romania
14.3.2.8.1 Romania Bicycle Market Segmentation, By Product
14.3.2.8.2 Romania Bicycle Market Segmentation, By Design
14.3.2.8.3 Romania Bicycle Market Segmentation, By Technology
14.3.2.8.4 Romania Bicycle Market Segmentation, By End-user
14.3.2.8.5 Romania Bicycle Market Segmentation, By Distribution Channel
14.3.2.9 Hungary
14.3.2.9.1 Hungary Bicycle Market Segmentation, By Product
14.3.2.9.2 Hungary Bicycle Market Segmentation, By Design
14.3.2.9.3 Hungary Bicycle Market Segmentation, By Technology
14.3.2.9.4 Hungary Bicycle Market Segmentation, By End-user
14.3.2.9.5 Hungary Bicycle Market Segmentation, By Distribution Channel
14.3.2.10 Turkey
14.3.2.10.1 Turkey Bicycle Market Segmentation, By Product
14.3.2.10.2 Turkey Bicycle Market Segmentation, By Design
14.3.2.10.3 Turkey Bicycle Market Segmentation, By Technology
14.3.2.10.4 Turkey Bicycle Market Segmentation, By End-user
14.3.2.10.5 Turkey Bicycle Market Segmentation, By Distribution Channel
14.3.2.11 Rest of Eastern Europe
14.3.2.11.1 Rest of Eastern Europe Bicycle Market Segmentation, By Product
14.3.2.11.2 Rest of Eastern Europe Bicycle Market Segmentation, By Design
14.3.2.11.3 Rest of Eastern Europe Bicycle Market Segmentation, By Technology
14.3.2.11.4 Rest of Eastern Europe Bicycle Market Segmentation, By End-user
14.3.2.11.5 Rest of Eastern Europe Bicycle Market Segmentation, By Distribution Channel
14.3.3 Western Europe
14.3.3.1 Western Europe Bicycle Market, By Country
14.3.3.2 Western Europe Bicycle Market Segmentation, By Product
14.3.3.3 Western Europe Bicycle Market Segmentation, By Design
14.3.3.4 Western Europe Bicycle Market Segmentation, By Technology
14.3.3.5 Western Europe Bicycle Market Segmentation, By End-user
14.3.3.6 Western Europe Bicycle Market Segmentation, By Distribution Channel
14.3.3.7 Germany
14.3.3.7.1 Germany Bicycle Market Segmentation, By Product
14.3.3.7.2 Germany Bicycle Market Segmentation, By Design
14.3.3.7.3 Germany Bicycle Market Segmentation, By Technology
14.3.3.7.4 Germany Bicycle Market Segmentation, By End-user
14.3.3.7.5 Germany Bicycle Market Segmentation, By Distribution Channel
14.3.3.8 France
14.3.3.8.1 France Bicycle Market Segmentation, By Product
14.3.3.8.2 France Bicycle Market Segmentation, By Design
14.3.3.8.3 France Bicycle Market Segmentation, By Technology
14.3.3.8.4 France Bicycle Market Segmentation, By End-user
14.3.3.8.5 France Bicycle Market Segmentation, By Distribution Channel
14.3.3.9 UK
14.3.3.9.1 UK Bicycle Market Segmentation, By Product
14.3.3.9.2 UK Bicycle Market Segmentation, By Design
14.3.3.9.3 UK Bicycle Market Segmentation, By Technology
14.3.3.9.4 UK Bicycle Market Segmentation, By End-user
14.3.3.9.5 UK Bicycle Market Segmentation, By Distribution Channel
14.3.3.10 Italy
14.3.3.10.1 Italy Bicycle Market Segmentation, By Product
14.3.3.10.2 Italy Bicycle Market Segmentation, By Design
14.3.3.10.3 Italy Bicycle Market Segmentation, By Technology
14.3.3.10.4 Italy Bicycle Market Segmentation, By End-user
14.3.3.10.5 Italy Bicycle Market Segmentation, By Distribution Channel
14.3.3.11 Spain
14.3.3.11.1 Spain Bicycle Market Segmentation, By Product
14.3.3.11.2 Spain Bicycle Market Segmentation, By Design
14.3.3.11.3 Spain Bicycle Market Segmentation, By Technology
14.3.3.11.4 Spain Bicycle Market Segmentation, By End-user
14.3.3.11.5 Spain Bicycle Market Segmentation, By Distribution Channel
14.3.3.12 Netherlands
14.3.3.12.1 Netherlands Bicycle Market Segmentation, By Product
14.3.3.12.2 Netherlands Bicycle Market Segmentation, By Design
14.3.3.12.3 Netherlands Bicycle Market Segmentation, By Technology
14.3.3.12.4 Netherlands Bicycle Market Segmentation, By End-user
14.3.3.12.5 Netherlands Bicycle Market Segmentation, By Distribution Channel
14.3.3.13 Switzerland
14.3.3.13.1 Switzerland Bicycle Market Segmentation, By Product
14.3.3.13.2 Switzerland Bicycle Market Segmentation, By Design
14.3.3.13.3 Switzerland Bicycle Market Segmentation, By Technology
14.3.3.13.4 Switzerland Bicycle Market Segmentation, By End-user
14.3.3.13.5 Switzerland Bicycle Market Segmentation, By Distribution Channel
14.3.3.14 Austria
14.3.3.14.1 Austria Bicycle Market Segmentation, By Product
14.3.3.14.2 Austria Bicycle Market Segmentation, By Design
14.3.3.14.3 Austria Bicycle Market Segmentation, By Technology
14.3.3.14.4 Austria Bicycle Market Segmentation, By End-user
14.3.3.14.5 Austria Bicycle Market Segmentation, By Distribution Channel
14.3.3.15 Rest of Western Europe
14.3.3.15.1 Rest of Western Europe Bicycle Market Segmentation, By Product
14.3.3.15.2 Rest of Western Europe Bicycle Market Segmentation, By Design
14.3.3.15.3 Rest of Western Europe Bicycle Market Segmentation, By Technology
14.3.3.15.4 Rest of Western Europe Bicycle Market Segmentation, By End-user
14.3.3.15.5 Rest of Western Europe Bicycle Market Segmentation, By Distribution Channel
14.4 Asia-Pacific
14.4.1 Trend Analysis
14.4.2 Asia-Pacific Bicycle Market, By Country
14.4.3 Asia-Pacific Bicycle Market Segmentation, By Product
14.4.4 Asia-Pacific Bicycle Market Segmentation, By Design
14.4.5 Asia-Pacific Bicycle Market Segmentation, By Technology
14.4.6 Asia-Pacific Bicycle Market Segmentation, By End-user
14.4.7 Asia-Pacific Bicycle Market Segmentation, By Distribution Channel
14.4.8 China
14.4.8.1 China Bicycle Market Segmentation, By Product
14.4.8.2 China Bicycle Market Segmentation, By Design
14.4.8.3 China Bicycle Market Segmentation, By Technology
14.4.8.4 China Bicycle Market Segmentation, By End-user
14.4.8.5 China Bicycle Market Segmentation, By Distribution Channel
14.4.9 India
14.4.9.1 India Bicycle Market Segmentation, By Product
14.4.9.2 India Bicycle Market Segmentation, By Design
14.4.9.3 India Bicycle Market Segmentation, By Technology
14.4.9.4 India Bicycle Market Segmentation, By End-user
14.4.9.5 India Bicycle Market Segmentation, By Distribution Channel
14.4.10 Japan
14.4.10.1 Japan Bicycle Market Segmentation, By Product
14.4.10.2 Japan Bicycle Market Segmentation, By Design
14.4.10.3 Japan Bicycle Market Segmentation, By Technology
14.4.10.4 Japan Bicycle Market Segmentation, By End-user
14.4.10.5 Japan Bicycle Market Segmentation, By Distribution Channel
14.4.11 South Korea
14.4.11.1 South Korea Bicycle Market Segmentation, By Product
14.4.11.2 South Korea Bicycle Market Segmentation, By Design
14.4.11.3 South Korea Bicycle Market Segmentation, By Technology
14.4.11.4 South Korea Bicycle Market Segmentation, By End-user
14.4.11.5 South Korea Bicycle Market Segmentation, By Distribution Channel
14.4.12 Vietnam
14.4.12.1 Vietnam Bicycle Market Segmentation, By Product
14.4.12.2 Vietnam Bicycle Market Segmentation, By Design
14.4.12.3 Vietnam Bicycle Market Segmentation, By Technology
14.4.12.4 Vietnam Bicycle Market Segmentation, By End-user
14.4.12.5 Vietnam Bicycle Market Segmentation, By Distribution Channel
14.4.13 Singapore
14.4.13.1 Singapore Bicycle Market Segmentation, By Product
14.4.13.2 Singapore Bicycle Market Segmentation, By Design
14.4.13.3 Singapore Bicycle Market Segmentation, By Technology
14.4.13.4 Singapore Bicycle Market Segmentation, By End-user
14.4.13.5 Singapore Bicycle Market Segmentation, By Distribution Channel
14.4.14 Australia
14.4.14.1 Australia Bicycle Market Segmentation, By Product
14.4.14.2 Australia Bicycle Market Segmentation, By Design
14.4.14.3 Australia Bicycle Market Segmentation, By Technology
14.4.14.4 Australia Bicycle Market Segmentation, By End-user
14.4.14.5 Australia Bicycle Market Segmentation, By Distribution Channel
14.4.15 Rest of Asia-Pacific
14.4.15.1 Rest of Asia-Pacific Bicycle Market Segmentation, By Product
14.4.15.2 Rest of Asia-Pacific Bicycle Market Segmentation, By Design
14.4.15.3 Rest of Asia-Pacific Bicycle Market Segmentation, By Technology
14.4.15.4 Rest of Asia-Pacific Bicycle Market Segmentation, By End-user
14.4.15.5 Rest of Asia-Pacific Bicycle Market Segmentation, By Distribution Channel
14.5 Middle East & Africa
14.5.1 Trend Analysis
14.5.2 Middle East
14.5.2.1 Middle East Bicycle Market, By Country
14.5.2.2 Middle East Bicycle Market Segmentation, By Product
14.5.2.3 Middle East Bicycle Market Segmentation, By Design
14.5.2.4 Middle East Bicycle Market Segmentation, By Technology
14.5.2.5 Middle East Bicycle Market Segmentation, By End-user
14.5.2.6 Middle East Bicycle Market Segmentation, By Distribution Channel
14.5.2.7 UAE
14.5.2.7.1 UAE Bicycle Market Segmentation, By Product
14.5.2.7.2 UAE Bicycle Market Segmentation, By Design
14.5.2.7.3 UAE Bicycle Market Segmentation, By Technology
14.5.2.7.4 UAE Bicycle Market Segmentation, By End-user
14.5.2.7.5 UAE Bicycle Market Segmentation, By Distribution Channel
14.5.2.8 Egypt
14.5.2.8.1 Egypt Bicycle Market Segmentation, By Product
14.5.2.8.2 Egypt Bicycle Market Segmentation, By Design
14.5.2.8.3 Egypt Bicycle Market Segmentation, By Technology
14.5.2.8.4 Egypt Bicycle Market Segmentation, By End-user
14.5.2.8.5 Egypt Bicycle Market Segmentation, By Distribution Channel
14.5.2.9 Saudi Arabia
14.5.2.9.1 Saudi Arabia Bicycle Market Segmentation, By Product
14.5.2.9.2 Saudi Arabia Bicycle Market Segmentation, By Design
14.5.2.9.3 Saudi Arabia Bicycle Market Segmentation, By Technology
14.5.2.9.4 Saudi Arabia Bicycle Market Segmentation, By End-user
14.5.2.9.5 Saudi Arabia Bicycle Market Segmentation, By Distribution Channel
14.5.2.10 Qatar
14.5.2.10.1 Qatar Bicycle Market Segmentation, By Product
14.5.2.10.2 Qatar Bicycle Market Segmentation, By Design
14.5.2.10.3 Qatar Bicycle Market Segmentation, By Technology
14.5.2.10.4 Qatar Bicycle Market Segmentation, By End-user
14.5.2.10.5 Qatar Bicycle Market Segmentation, By Distribution Channel
14.5.2.11 Rest of Middle East
14.5.2.11.1 Rest of Middle East Bicycle Market Segmentation, By Product
14.5.2.11.2 Rest of Middle East Bicycle Market Segmentation, By Design
14.5.2.11.3 Rest of Middle East Bicycle Market Segmentation, By Technology
14.5.2.11.4 Rest of Middle East Bicycle Market Segmentation, By End-user
14.5.2.11.5 Rest of Middle East Bicycle Market Segmentation, By Distribution Channel
14.5.3 Africa
14.5.3.1 Africa Bicycle Market, By Country
14.5.3.2 Africa Bicycle Market Segmentation, By Product
14.5.3.3 Africa Bicycle Market Segmentation, By Design
14.5.3.4 Africa Bicycle Market Segmentation, By Technology
14.5.3.5 Africa Bicycle Market Segmentation, By End-user
14.5.3.6 Africa Bicycle Market Segmentation, By Distribution Channel
14.5.3.7 Nigeria
14.5.3.7.1 Nigeria Bicycle Market Segmentation, By Product
14.5.3.7.2 Nigeria Bicycle Market Segmentation, By Design
14.5.3.7.3 Nigeria Bicycle Market Segmentation, By Technology
14.5.3.7.4 Nigeria Bicycle Market Segmentation, By End-user
14.5.3.7.5 Nigeria Bicycle Market Segmentation, By Distribution Channel
14.5.3.8 South Africa
14.5.3.8.1 South Africa Bicycle Market Segmentation, By Product
14.5.3.8.2 South Africa Bicycle Market Segmentation, By Design
14.5.3.8.3 South Africa Bicycle Market Segmentation, By Technology
14.5.3.8.4 South Africa Bicycle Market Segmentation, By End-user
14.5.3.8.5 South Africa Bicycle Market Segmentation, By Distribution Channel
14.5.3.9 Rest of Africa
14.5.3.9.1 Rest of Africa Bicycle Market Segmentation, By Product
14.5.3.9.2 Rest of Africa Bicycle Market Segmentation, By Design
14.5.3.9.3 Rest of Africa Bicycle Market Segmentation, By Technology
14.5.3.9.4 Rest of Africa Bicycle Market Segmentation, By End-user
14.5.3.9.5 Rest of Africa Bicycle Market Segmentation, By Distribution Channel
14.6 Latin America
14.6.1 Trend Analysis
14.6.2 Latin America Bicycle Market, By Country
14.6.3 Latin America Bicycle Market Segmentation, By Product
14.6.4 Latin America Bicycle Market Segmentation, By Design
14.6.5 Latin America Bicycle Market Segmentation, By Technology
14.6.6 Latin America Bicycle Market Segmentation, By End-user
14.6.7 Latin America Bicycle Market Segmentation, By Distribution Channel
14.6.8 Brazil
14.6.8.1 Brazil Bicycle Market Segmentation, By Product
14.6.8.2 Brazil Bicycle Market Segmentation, By Design
14.6.8.3 Brazil Bicycle Market Segmentation, By Technology
14.6.8.4 Brazil Bicycle Market Segmentation, By End-user
14.6.8.5 Brazil Bicycle Market Segmentation, By Distribution Channel
14.6.9 Argentina
14.6.9.1 Argentina Bicycle Market Segmentation, By Product
14.6.9.2 Argentina Bicycle Market Segmentation, By Design
14.6.9.3 Argentina Bicycle Market Segmentation, By Technology
14.6.9.4 Argentina Bicycle Market Segmentation, By End-user
14.6.9.5 Argentina Bicycle Market Segmentation, By Distribution Channel
14.6.10 Colombia
14.6.10.1 Colombia Bicycle Market Segmentation, By Product
14.6.10.2 Colombia Bicycle Market Segmentation, By Design
14.6.10.3 Colombia Bicycle Market Segmentation, By Technology
14.6.10.4 Colombia Bicycle Market Segmentation, By End-user
14.6.10.5 Colombia Bicycle Market Segmentation, By Distribution Channel
14.6.11 Rest of Latin America
14.6.11.1 Rest of Latin America Bicycle Market Segmentation, By Product
14.6.11.2 Rest of Latin America Bicycle Market Segmentation, By Design
14.6.11.3 Rest of Latin America Bicycle Market Segmentation, By Technology
14.6.11.4 Rest of Latin America Bicycle Market Segmentation, By End-user
14.6.11.5 Rest of Latin America Bicycle Market Segmentation, By Distribution Channel
15. Company Profiles
15.1 Accell Group
15.1.1 Company Overview
15.1.2 Financial
15.1.3 Products/ Services Offered
15.1.4 SWOT Analysis
15.1.5 The SNS View
15.2 Avon Cycles Ltd.
15.2.1 Company Overview
15.2.2 Financial
15.2.3 Products/ Services Offered
15.2.4 SWOT Analysis
15.2.5 The SNS View
15.3 Cervelo
15.3.1 Company Overview
15.3.2 Financial
15.3.3 Products/ Services Offered
15.3.4 SWOT Analysis
15.3.5 The SNS View
15.4 Dorel Industries Inc.
15.4.1 Company Overview
15.4.2 Financial
15.4.3 Products/ Services Offered
15.4.4 SWOT Analysis
15.4.5 The SNS View
15.5 Atlas Cycles (Haryana) Ltd.
15.5.1 Company Overview
15.5.2 Financial
15.5.3 Products/ Services Offered
15.5.4 SWOT Analysis
15.5.5 The SNS View
15.6 Giant Bicycles
15.6.1 Company Overview
15.6.2 Financial
15.6.3 Products/ Services Offered
15.6.4 SWOT Analysis
15.6.5 The SNS View
15.7 Specialized Bicycle Components, Inc.
15.7.1 Company Overview
15.7.2 Financial
15.7.3 Products/ Services Offered
15.7.4 SWOT Analysis
15.7.5 The SNS View
15.8 Merida Industry Co., Ltd
15.8.1 Company Overview
15.8.2 Financial
15.8.3 Products/ Services Offered
15.8.4 SWOT Analysis
15.8.5 The SNS View
15.9 SCOTT Sports SA
15.9.1 Company Overview
15.9.2 Financial
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.10 Trek Bicycle Corporation
15.10.1 Company Overview
15.10.2 Financial
15.10.3 Products/ Services Offered
15.10.4 SWOT Analysis
15.10.5 The SNS View
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions
17. Use Case and Best Practices
18. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Automotive Telematics Market size was valued at USD 59 billion in 2023 & will reach USD 233.23 billion by 2032 and grow at a CAGR of 16.5% by 2024-2032
The Electric Vehicle Battery Charger Market Size was USD 11.9 billion in 2023 and will reach USD 73 billion by 2032 and grow at a CAGR of 22.4% by 2024-2032.
The Automotive Active Spoiler Market size was valued at USD 3.98 billion in 2023 and is expected to reach USD 6.82 billion by 2031 and grow at a CAGR of 6.96% over the forecast period 2024-2031.
The Air Brake System Market Size was valued at USD 5.59 billion in 2023 and will reach USD 7.81 billion by 2032 and grow at a CAGR of 3.8% by 2024-2032
The Automated Fare Collection Market Size was valued at USD 11.40 billion in 2023 and will reach USD 37.96 billion by 2032, growing at a CAGR of 14.30% by 2024-2032.
The Vehicle Analytics Market Size was valued at USD 4.20 billion in 2023, and expected to reach USD 25.87 billion by 2031, and grow at a CAGR of 25.5% over the forecast period 2024-2031.
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