PUBLISHER: Allied Market Research | PRODUCT CODE: 1447171
PUBLISHER: Allied Market Research | PRODUCT CODE: 1447171
A geared bicycle serves as an environmentally friendly means of transportation, offered in a range of variations, including electric bikes and mountain bikes. Just like cars, cyclists can manipulate gears to tailor their pedaling speed, thereby improving efficiency and comfort when traversing diverse terrains. Surge in health awareness, low maintenance cost of bicycle. However, low demand for gear bikes in developing countries hamper the market growth. In addition, growth of manufacturing designs, surge in outdoor sports presents significant opportunities for market expansion.
Technological advancements such as integration of Bluetooth, GPS, anti-theft locks, daily fitness tracker, and durable battery in electric bikes are anticipated to attract a large customer base, which is significantly propelling the market growth. Furthermore, the demand for lightweight bicycle components is increasing. As a result, manufacturers are producing bikes with aluminum or carbon fiber, which reduces the wight of with preinstalled gears in the bikes. Lightweight geared bicycles further promote faster and easier drive. As a result, the demand for lightweight gear bicycles is increasing among cyclists. Moreover, the production of gear bicycles with aluminum or carbon fiber is more affordable, which boosts their sales significantly. Thus, all these factors collectively are anticipated to drive market growth.
The trend of outdoor and adventurous sports is gaining traction in the global market. Presently, consumers find outdoor sports as an ideal medium of refreshment out of a busy schedule. In addition, associations and sports organizations are promoting bicycle events to encourage not only athletes but also regular cyclists. Each association operates at different levels but shares a common goal that is to increase the interest of citizens in bicycles and bicycle sports, which notably contributes toward the growth of the global market. The interest in bicycles is expected to increase, which is likely to offer growth opportunities for the market, globally.
The gear bicycle market is segmented into sales channel, application, end user, and region. On the basis of application, the market is classified into adventure and sports. On the basis of sales channel, it is categorized into online and offline. By end user, the market is divided into men and women. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global gear bicycle market are Stryder Cycle Private Limited, Accell Group N.V., Trek Bicycle Corporation, Kross Bikes, Colnago Ernesto & C. S.r.l., Giant Bicycles India , Firefox Bikes, Scott Sports SA, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd. among others. The leading companies adopt strategies such as product launch, partnership, acquisition, expansion, and collaboration to strengthen their market position.
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