Knowledge Sourcing Intelligence announces the publication of a new report on “Global Bicycle Market - Forecasts from 2020 to 2025” to their offering.
The need for maintaining optimum health, traffic-related issues resulting in the adoption of cargo bikes, significant resilience despite a myriad of technological advancements, prioritization in urban agenda among others that result in healthy market growth.
As per the report, the global market pertaining to Bicycle is expected to reach US$76.845 billion in 2025 from US$51.262 billion in 2019
The global bicycle market has undergone a plethora of developments that are anticipated to propel the growth of the market. Some of these developments are being mentioned below.
September 2018 – Expansion of Bicycle Product Accessories Offerings
LEATT™ (OTCQB: LEAT) which is known to develop ancillary products and personal protective equipment for all forms of sports, particularly xtreme high-velocity sports had announced that it is expanding its product portfolio with a new selection of performance wear for competitive bicycle enthusiasts, which comprises head-to-knee protection and a comprehensive range of apparel products. These offerings exhibit safety, precision, performance, and comfort. This development suggests the increased adoption of bicycles for sports.
March 2019 – Acquisition
STACYC which is known to offer a wide line of products that allows children of 3 years of age and above and who are less than 75 lbs to experience the thrill of riding and concomitantly bridges the gap between push bikes and bicycles or motorcycles was reportedly acquired by H-D U.S.A., LLC. (NYSE: HOG) which was marked by the introduction of a new Harley-Davidson branded version of the former’s electric 12-inch and 16-inch two-wheelers for children.
June 2020 – Portfolio Revitalization
Gates Corporation (NYSE: GTES) which is a globally renowned manufacturer of highly engineered innovative power transmission and fluid power solutions has been reportedly endeavoring overall product portfolio with a new and expanded line of components that constitutes belts, cranksets, and next-generation sprockets, that have been optimized for ebikes, entry-level commuter, and extreme performance bicycles. With a 40-year legacy of leveraging materials science expertise to further and enhance transportation technology, the company has been engaged in designing and manufacturing belt-drives as an alternative to chain drives for two-wheelers which are devoid of rust, relatively quiet and stronger, and needs lower maintenance as well as an alternative to chain drives for two-wheelers. Such a strategic initiative has been invested upon by the company when the demand for alternative methods of transportation that stems from the inclination of commuters to seek more affordable, more environmentally friendly transport solutions.
December 2020 – Product Launch
A supplementary development is that of the increasing cognizance of high user convenience of cargo bikes in the face of rising traffic-related issues in many urban regions. The aforementioned coupled with the surge in eCommerce has resulted in conditions that are conducive for growth in the demand for cargo bikes. To this end, Smartron India Private Limited which is India’s first true global technology OEM and IoT brand introduced the tbike flex, an e-bike, and cargo delivery platform for the last mile deliveries and connectivity. This product offers customized fleet and rider management features that aid easy integration into eCommerce companies, food delivery operators, and the native IT systems of logistics partners, facilitating real-time business intelligence.
December 2020 - Launch of Automatic E-Bike Transmission
Valeo (EPA: FR) which is a French auto supplier has reportedly developed a one-of-kind Smart e-Bike System to facilitate the integration of an adaptive automatic transmission and an electronic motor in an e-bike’s pedal assembly. It also comes with an anti-theft feature which when activated disables the use of the bike. The system comprises a seven-speed automatic, adaptive gearbox and a 48-volt electric motor in a single unit located in the pedal assembly. The USP of this feature is that instead of changing gears to match conditions, the transmission adapts to the rider's style and the amount of electric assistance the cyclist requires.
As a part of the report, the major players operating in the global bicycle market, which have been covered are Accell Group N.V., Atlas Cycles (Haryana) Ltd, Cervélo, Cube Bikes, Derby Cycle AG, Dorel Industries Inc., Fuji Bikes, Giant Manufacturing Co. Ltd., Hero Cycles Limited, Merida Industry Co., Ltd, Olympus Bikes, Scott Sports SA, Tandem Group plc, TI Cycles, and Trek Bicycle Corporation.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-bicycle-market
This report segmented the global bicycle market on the basis following terms