Global Bike Market to Grow by 38% up to 2024

NEW YORK, USA - According to a Persistence Market Research (PMR) report, the global market for bicycles is anticipated to expand by 37.5% over the period 2016-2024. In the eight years from 2015 to 2024 revenue growth is to get from US$ 45.08 billion to over US$ 62 billion by 2024. Asia Pacific is anticipated to be the most lucrative market for bicycles over the forecast period while e-bikes will be the leading segment of the market.
E-bikes, also named Hybrid bikes, is expected reach market valuation of US$ 24.43 billion by 2024. – Photo Cube