Is the bicycle market growing?

Between April and September 2020, the UK cycling market saw a 27% rise in sales volume and a 26% increase in average prices, compared with the same period in 2019.

How big is the bicycle market?

The global cycling market will grow to $44.4 billion from 2018 to 2022, according to figures revealed by Research and Markets.

What trends are currently affecting the bicycle industry?

The cycling tech trends to look out for in 2019

  • Lightweight bikes return to the fore (with improved aerodynamics)
  • Bike clothing gets smarter than ever before.
  • Gravel bikes need gravel wheels.
  • Road tubeless gets a long-awaited industry standard.
  • 1x is dead, long live 1x!
  • Virtual racing takes off.

What is the target market for bicycles?

4.1 Market Segmentation The typical customer is someone who rides a couple of thousand of miles a year, either with a team or a club. The retail value of their bicycle is at least $1,800. The average household income is >$40,000. 64% have a college education.

How big is the bicycle industry in the US?

The Bicycles market in the U.S. is estimated at US$9.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.5 Billion by the year 2026 trailing a CAGR of 7.7% over the analysis period.

How can I advertise my bike?

7 Ways To Advertise Your Bike Rental Business

  1. Make sure your website ranks on the first page of search results.
  2. Squeeze the most out of social media.
  3. Facilitate action-oriented advertisement with online booking.
  4. Co-brand with other businesses and customers.
  5. Follow up with emails.
  6. Post content on a regular basis.

Will bicycle prices decrease in 2021?

And 2021 will likely see retail prices go up another 10-25%, experts say. Through last September the average retail price of bike products was up 22%, compared to the same period in 2019, according to NPD Group.

How big is the bicycle market in the world?

The global bicycle market was valued USD at USD 60,707.02 million in 2020 and is projected to witness a CAGR of 4.20 % during the forecast period (2021 – 2026). There’s a significant growth in the demand for bicycles due to COVID-19 as now consumers try to avoid public transportation due to fear of contracting the virus.

How is the bicycle market segmented by geography?

Bicycle Market is segmented by Type (Road Bicycle, Hybrid Bicycle, All Terrain Bicycle, E-Bicycle​ and Others​); by Distribution Channel (Offline Retail Stores, and Online Retail Stores); and by Geography (North America, Europe, Asia-Pacific, South America and Middle East and Africa).

Why does the bicycle market have a high market share?

The high market share is attributed to the presence of a large number of consumers opting to purchase from offline channels/stores due to the availability of test-drive options. Offline stores also offer personalized/customized buying options, wherein consumers can choose their personalized/customized bicycle designs and colors.

What’s the forecast for the e bike market?

Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period. The market has been segmented by propulsion type and application type.