Bicycle & Components Market to Witness Robust Expansion
throughout the Forecast Period 2018-2026
Bicycle & Components Market research provides industry analysis
by type, manufacturer, application along with key factors
influencing the growth of the market which include growth drivers,
restraints, opportunities and challenges, strategically profile key
players and comprehensively analyze their market share and core
competencies.
The bicycle & components market was valued at US$ 45,080 million in 2016 and is projected to
reach US$ 66,692 million by 2025, exhibiting a CAGR of 4.7% over the forecast period. Increasing
concerns regarding fitness has urged individuals to use bicycles as a mode of routine exercise.
Furthermore, novel designs of bicycles dedicated towards safety and comfort of the user has
further boosted the adoption of various types of cycles across wide range of users based on their
age, demographics, and interests. Constant fluctuations of prices for fuels used in motor vehicles
and increasing awareness of environment-friendly transportation is improving the adoption of
bicycles
worldwide.
To know the latest trends and insights read @
https://www.coherentmarketinsights.com/market-insight/bicycle-and-components-market-1449
Key Trends and Analysis of the Global Bicycle & Components Market:
Among bicycle types, city bike segment held dominant position in the bicycle & components
market in 2016. Increasing number of global population and rising urban population have led to
better intra-city transportation. Furthermore, increasing health issues due to smog, high carbon
concentration in the atmosphere, and other pollutants has urged governing bodies to promote
environment-friendly transportation systems such as bicycles inside the city. City bicycles have
emerged as a solution for aforementioned issues with improved designs and technological up-
gradations including smart bikes.