Site icon Fact.MR Blog

Bicycle Market Is Expected To Register A Positive CAGR Of 8% By 2032


Fact.MR states the global sales of bicycles are expected to surpass US$ 130 Bn by registering a CAGR of 8% in the forecast period 2022-2032. The growing importance of a healthy lifestyle along with improving infrastructure is driving the sales of bicycles. In addition, initiatives by government to reduce CO2 emissions is playing a key role in the adoption of bicycles.

Historically, from 2017 to 2022, the global sales of bicycles exceeded US$ 60 Bn by the end of the aforementioned period, inclining at a CAGR of 7%. The onset of the COVID-19 pandemic disrupted the supply and demand chain for various end user industries. Moreover, restrictions on movements across various countries affected the sales of bicycles. Thus, the sales of the same dipped in the initial quarter of the pandemic. With the world gaining back normalcy, the sales of bicycles are expected to upsurge.

Request Sample-

Key Takeaways from the Market Study

“Increasing health concerns amid prevalence of lifestyle disorders is prompting individuals to opt for sporting activities, which is widening growth prospects for bicycles to a major extent,” opines a Fact.MR analyst.

Key Segments Covered in the Bicycle Market Industry Report

Competitive Landscape

Prominent manufacturers are emphasizing on introducing newly designed bikes, strategic collaborations and initiation of different campaigns. In addition, there is also emphasis on incorporating sustainability in manufacturing practices, considering the need to reduce carbon footprint. Some notable developments are as follows:

Exit mobile version