If you’re looking for an alternative to running, for your cardio or aerobic exercise, cycling is fantastic. Just riding a few miles to the grocery store will result in significant calorie burn. If one takes to the trails, one will burn even more calories. Compared to jogging, it is also considerably easier on body joints. Thus for this reason Bicycles Brands is expected to register a positive CAGR of 8% by accumulating a market value of US$ 138 Bn through the assessment period 2022-2032.
Numerous health advantages of cycling have encouraged people to consider it not just as a pastime but also as an investment in their well-being. Obesity, heart-related issues, and diabetes have increased among people across all age groups as a result of sedentary lifestyles brought on by changing work environments. Also encouraging people to cycle is a shift in exercise preferences. Thus, there is now more of a need for bicycles.
Furthermore, many people now use cycling as a means of fostering community. Bicycle sales are also being fuelled by measures by the government to promote public health, smart city development, and improved infrastructure. Another important factor that has made people more environmentally sensitive is the growing population. Consequently, the use of bicycles is spreading quickly among people.
As a result of the aforementioned factors, the global sales of bicycles garnered a market value of US$ 60 billion in 2021 and the bicycle market is expected to register a positive CAGR of 8% by accumulating a market value of US$ 138 billion through the assessment period 2022-2032. Download a free sample of the report.
Prominent manufacturers are emphasizing introducing newly designed bikes, strategic collaborations, and initiation of different campaigns. The mainstay players are-
Merida, a bicycle manufacturer with headquarters in Taiwan, has a long history of producing attractive, high-quality bikes, making it one of the major players in this market. The brand has received design and innovation awards for their most innovative bikes such as REACTO, eSILEX, ONE-TWENTY, and SCULTURA TEAM. The company has also recognized with this award in 2023 for its One-SIXTY brand bike.
It’s one of the big brands in the bicycle market right now. The brand launched in the USA with the vision to design great bikes that deliver high performance. In June 2019, Trek Bicycle Corporation introduced the all-new Madone SLR 6 Disc Speed. The bicycle is integrated with removable aero bars and is specially designed for riding in hilly areas with winding roads.
This US-based brand gained the first spotlight when it introduced a wheeled cycling product in terms of legendary bugger which was the first bicycle towed trailer in the world. Ever since its first bike the brand has gained recognition as the most innovative bicycle brand.
The brand has recently launched a variety of fitness bikes, Urban bikes, and adventure bikes. The brand has also raised sales of bicycles with the recent addition of the e-bike Adventure Neo 2EQ.
The brand is visionary to leave a positive impact of the bicycle on the user and overall cycling activities. The Q36.5 Pro Cycling Team and SCOTT have announced a multi-year sponsorship agreement. The top cycling manufacturer will supply the team with high-end, race-tested road bikes in addition to high-performance helmets and glasses.
The California-based brand is focused only on a niche market of high-end mountain bikes which are focused on the target audience who are passionate riders. Their bikes are priced ranging $ 1000 to $10,000 making them available for select wallets aimed to deliver a near-perfect high performance that makes them identified as “Downhill machines”
The company in Oct 2022 has launched Grizzly Grips which are their next generation of lock-on grips one of the best mountain bikes. These are comfortable, soft, and at the same time tough to break. The company has used sponsored marketing strategy by collaborating with risers who promote the brand on social media. The brand has increased its reach among the target audience with sponsored rider strategy.
The brand reported Net sales of USA 1377 million growing by 6.2% in 2021. With a total of 856000 bicycles sold in 2021, the brand also moving ahead in terms of sustainability with the “cycling moves the world forward initiative”. The company’s plant in Herenveen which produces bicycles for the European market will transition to solar energy. This is expected to reduce 1,100 tonnes of CO2.