Moderate Growth Forecasted for Global Bike Industry
DUBLIN, Ireland – The global bicycle industry is expected to witness moderate growth over the next five years and reach an estimated USD 64.1 billion (€ 49.2bn) by 2018. This is forecasted by a study from Research and Markets named “Global Bicycle Industry 2013-2018: Trend, Profit, and Forecast Analysis”.
Growing fitness consciousness among people, rising energy prices, growing congestion due to increasing population and the number of cars on roads is expected to drive the bicycle industry over the next five years.
Alternative for short distance transport
The growth of cycling as a leisure activity and due to growing environmental concerns by consumers, bicycles are emerging as an alternative for shorter distance transportation that causes no pollution. The industry, however, faces some challenges such as rising raw material costs and the increasing demand and popularity of motorbikes. Government initiatives to promote cycling in order to reduce carbon emissions and noise pollution are a strong growth driver. In addition, bicycles’ energy efficiency, coupled with cycling as a fitness activity, will help propel demand during the forecast period.
The study provides an overview of the global bicycle industry and tracks industry performance in four regions. The report studies manufacturers serving this segment, providing a five-year annual trend analysis that highlights market size, profit, and cost structure for North America, Europe, Asia Pacific, and the Rest of World regions. The report also provides a forecast, addressing market opportunities for five years for each region.
This report represents industry size from the consumption aspect. More than 80% of the industry sales are generated by private players.
- Accell Group
- Dorel Industries
- Giant Manufacturing Co. Ltd.
- Merida Industry Co. Ltd.
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