"E-bike Integration and Celebrity Endorsements Propel Sports Bicycle Industry
Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Sports Bicycle Market by Product Type (Cyclo-cross Bicycles, Mountain Bicycles, Road Racing Bicycles), Application (Offline Retail, Online Retail), End User, Vendor Type - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to * ResearchAndMarkets.com's* offering.
The global sports bicycle market has been racing towards new heights, with an estimated worth of USD 15.65 billion in 2022, a figure that surged to USD 16.94 billion in 2023.
This phenomenal growth is driven by a compelling Compound Annual Growth Rate (CAGR) of 8.40%. Anticipated to continue its ascent, the market is expected to breach the USD 29.83 billion mark by 2030.
*Market Segmentation & Coverage:*
This comprehensive research report delves deep into the Global Sports Bicycle Market, analyzing trends and forecasting revenues across various sub-markets:
Product Type: The market showcases a diverse range of product types, including Cyclo-cross Bicycles, Mountain Bicycles, Road Racing Bicycles, and Track Racing Bicycles. In 2022, Mountain Bicycles dominated the market, claiming a substantial 34.77% market share, closely followed by Cyclo-cross Bicycles.
Application: With a focus on application, the market is divided into Offline Retail and Online Retail. In 2022, Offline Retail held sway, commanding an impressive 96.94% market share, followed by Online Retail.
End User: The end-user landscape comprises Adult's Sports Bicycle and Kids Sports Bicycle. In 2022, Adult's Sports Bicycle dominated with an 85.54% market share, leaving Kids Sports Bicycle in its wake.
Vendor Type: Exploring vendor types, the market encompasses Aftermarket and OEM, with the OEM sector reigning supreme in 2022, capturing a commanding 72.54% market share.
Region: The market's geographical reach extends across the Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa led the way in 2022, claiming the lion's share at 33.85%, closely followed by the Americas.
*Market Dynamics:*
*Drivers:* The burgeoning demand for sports bicycles among hobbyists and athletes, coupled with the increased availability of branded sports bicycles through regional and online sales channels, is steering the market forward.
*Restraints:* The market does face some challenges, including the recall of sports bicycles, which can impact consumer trust and confidence.
*Opportunities:* Exciting prospects lie ahead with the integration of E-bike features in sports bicycles and the endorsement of brands through celebrity partnerships and promotional campaigns.
*Challenges:* The market must also address challenges related to injury incidence and risk factors associated with sports bicycles.
*The report provides valuable insights into:*
Market Penetration: Comprehensive information on the market offered by key players.
Market Development: In-depth analysis of lucrative emerging markets and penetration across mature segments.
Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
Market Trends: A comprehensive understanding of the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and high inflation.
Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
*The report addresses critical questions, including:*
· What is the market size and forecast of the Global Sports Bicycle Market?
· How are inhibiting factors and the impact of COVID-19 shaping the Global Sports Bicycle Market during the forecast period?
· Which products/segments/applications/areas hold promise for investment in the Global Sports Bicycle Market?
· What is the competitive strategic window for opportunities in the Global Sports Bicycle Market?
· What technology trends and regulatory frameworks prevail in the Global Sports Bicycle Market?
· Who holds the market share among the leading vendors in the Global Sports Bicycle Market?
· What modes and strategic moves are considered suitable for entering the Global Sports Bicycle Market?
*Key Attributes:*
· No. of Pages: 186
· Forecast Period: 2023 - 2030
· Estimated Market Value (USD) in 2023: $16.94 Billion
· Forecasted Market Value (USD) by 2030: $29.83 Billion
· Compound Annual Growth Rate: 8.4%
· Regions Covered: Global
*Companies Mentioned*
· Accell
· Diamondback Bicycles
· Dorel Sports by Pon Holdings
· F.I.V. E. Bianchi S.p.A.
· Firmstrong Bikes
· Fuji-ta Bicycle Co., Ltd.
· Giant Manufacturing Co. Ltd.
· GT Bicycles
· Hero Cycles Limited
· Jenson USA
· Kona Bikes
· Marin Mountain Bikes Inc.
· Merida Industry Co. Ltd.
· Pedego Electric Inc.
· Pon Holdings BV
· Pure Fix Cycles, LLC
· Redline Bicycles
· Santa Cruz Bicycles, LLC
· SCOTT Sports SA
· Seven Cycles, Inc.
· Shimano, Inc.
· TII
· Trek Bicycle Corporation
· Yadea Group Holdings Ltd.Group
For more information about this report visit https://www.researchandmarkets.com/r/htmylo
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*Attachment*
· Global Sports Bicycle Market
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