Bicycles Market Regional Analysis, Growth Insights during Forecast Period 2020-2027

The Global Bicycle Market was valued at US$ 51,770.6 Mn in 2019 and is forecast to reach a value of US$ 69,574.6 Mn by 2027 at a CAGR of 3.7% between 2020 and 2027.

The growing popularity of bicycling as a form of recreation is expected to drive market growth. Bicycles are expected to grow in popularity as a convenient form of exercise for living a healthy life free of obesity and other disorders. Dockless bicycle-sharing systems are becoming increasingly popular. This system allows users to locate and unlock nearby bicycles electronically. Dockless bicycle-sharing systems, which originated in Europe, are gaining popularity, particularly in Asian countries such as India and China.

Bicycles Market 

A bicycle, also known as a bike, is a human-powered or pedal-driven vehicle with two wheels attached to a frame. Bicycles are used for a variety of purposes, including sports, daily commuting, and adventure sports. Mountain bikes, road bikes, sports bikes, and hybrid bikes are all available on the market. Although bicycles have been used since the nineteenth century, they have evolved dramatically over the years, with the production of lighter and faster bikes. Luggage carriers, front-mounted baskets, child seats, training wheels, and other accessories are now being added to bicycles.

Increasing consumer awareness of the health benefits of cycling is expected to drive growth in the global Bicycle Market during the forecast period. People have been forced to work without adequate exercise due to modern lifestyles and hectic schedules. Obesity is becoming more prevalent as people consume more junk food at a younger age. According to the World Health Organization (WHO), over half of the adult population in 114 countries, including Europe, the Middle East, and the Americas, were obese in 2014. On the contrary, with increased awareness of the dangers of obesity, a healthier and more environmentally friendly lifestyle is becoming increasingly popular.

Many studies have shown that bicycling burns between 500 and 700 calories per hour. Bicycling has become popular in many countries as a healthy way to burn fat and maintain normal body mass. Even doctors around the world advise the general public to use bicycles as a must-have tool for living a healthy life, whether they are obese or not. As a result, these factors are expected to drive market growth in the near future. Over the forecast period, a significant increase in oil prices and a growing need to conserve natural resources are expected to propel the global bicycle market growth.

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