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Lucintel Anticipates Global Bicycle Industry To Reach $65 Billion By 2019
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The global bicycle industry is expected to reach an estimated $65 billion by 2019. The major driver of bicycle industry is emergence of cycling as a preferred recreational and fitness activity, growing traffic congestion, and rising fuel prices. Increasing demand for low-cost transportation in developing countries helps to drive the bicycle industry. Electric bicycle use in North America and Western Europe is a new trend as a growing transit option in these regions. Despite various challenges, the market for bicycle is expected to grow over the next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the global bicycle industry by segments and region, and has come up with a comprehensive research report “Global Bicycle Industry 2014-2019: Trend, Forecast, and Opportunity Analysis.” This market report provides an analysis of the global bicycle industry and its accessories including analysis of the market trend, competitive landscape, company profiles, mergers and acquisitions, emerging trend, and key drivers of industry growth. The study also includes global forecasts for bicycle through 2019, segmented by region such as North America, Europe, Asia Pacific and Rest of World and by end user segments such as road bicycles, mountain bicycles, e-bicycles, and others.
On the basis of its comprehensive research, Lucintel forecasts that majority of the segments for bicycle industry will grow moderately in 2014-2019. Electric bicycle market will remain strong due to increasing demand from China. Developed countries such as Japan, USA, and the European countries are also likely to witness a substantial growth in this segment due to its growing popularity there. Bicycle manufacturers are continuously adopting new strategies to gain market share in this industry. Shimano Inc., Giant Manufacturing Co. Ltd, Merida Industry Co. Ltd, Accell Group N.V, Dorel Industries Inc are the major industry players. Innovation in battery technology would further enhance battery life and lower overall cost for consumers which will drive the electric bicycle market. The biggest challenge the industry faces is increasing popularity of motor vehicles, weak distribution network and rising price of raw materials. Hence it is crucial for the manufacturers to maintain a balance between price and quality. Regular innovation of products is very important for companies to sustain their successful position in the market.
This 118-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, market insight, and cost efficiency. Lucintel offerings include Consumer Goods Report, Consumer Market Report, Business Plan, Strategic Growth Consulting and Capital Investment Analysis. To learn more, visit www.lucintel.com. You can also contact us through Live Chat in its website to answer your questions in real time.
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