Global Sports Bicycle Market to see Rapid Growth by 2028

The global sports bicycle market is anticipated to grow at a CAGR of 5.9 % during the forecast period (2022-2028). The global sports bicycle market is growing due to the increasing demand for cycling globally. Bicycle is an eco-friendly mode of transportation and is available in a wide range including cargo bikes, electric bikes, and mountain bikes. The increasing number of sports tournaments, fun activities, bicycle rallies, and competitions globally is further boosting the growth of the market. Furthermore, the increasing attraction of the millennial in different types of bicycle tournaments such as Tour de France and LoToJa are contributing growth to the market during the forecast period.

The awareness among the individual about the environmental pollution caused by the emission from petrol and diesel vehicles and their initiative to change the environment and adopt some environment-friendly mode of transport is also driving the demand for sports cycles. Additionally, bicycles are easy to use and do not require any kind of driving license enabling customers of different age groups to adopt the bicycle as their mode of communication and is expected to propel the growth of the global sports bicycle market in the forecast period.

Some major players in the market include Cervelo, Dorel Industries, Giant Bicycles, Merida Bikes, Olympus Bikes, Scott Sports SA, and Specialized Bicycle Components, Inc. among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,

• In January 2022, Brompton Bicycle Ltd. announced the launch of the first titanium fold-up bicycle made in the UK which aims to use lightweight metal, more typically used for aircraft, rockets, and Formula 1 cars, to take advantage of the pandemic boom in cycling.
• In September 2021, Rapha Racing Ltd. announced their partnership with Baum Factory for the launch of a special edition version of Baum’s next-generation all-rounder titanium road bike, the Orbis.
• In May 2021, SILCA announced the launch of its first 3D printed bike product, a titanium computer mount dubbed the Mensola which claimed to be stronger, lighter, and more aerodynamic than a CNC-machined aluminum equivalent.

Market Coverage                                                                            

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
  • By End-Users
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Cervelo Cycles, Dorel Industries, Inc., Giant Manufacturing Co., Ltd., Merida Bikes, Olympus Bikes, Scott Sports SA, Specialized Bicycle Components, Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Sports Bicycle Market Report by Segment

By Product Type

• Mountain Bicycles
• Cyclo-Cross Bicycles
• Road Racing Bicycles
• Track Racing Bicycles

By Application

• Online
• Offline

By End-Users

• Kids
• Adults