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