The Reports and Insights, a leading market research company, has recently releases report titled “Sports Bicycle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Sports Bicycle Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Sports Bicycle Market?
According to Reports and Insights analysis, the global sports bicycle market was US$ 17.6 Billion in 2022. Furthermore, the sports bicycle market to register a CAGR of 6.2% which is expected to result in a market forecast value for 2031 of US$ 30.24 Bn.
What are Sports Bicycle?
A sport bicycle is a type of bicycle designed for efficient and fast riding on paved roads engineered with features that aerodynamics, agility, and prioritizing speed. They include lightweight frames, narrow tires with low rolling resistance, and a geometry that highlights a more forward-leaning and aerodynamic riding position. It has drop handlebars that allow riders to change hand positions and these frames are made from materials like aluminum, steel, or carbon fiber to achieve the desired balance between weight, strength, and stiffness. The design and components of sport bicycles continually evolve with advancements in materials and engineering, contributing to their popularity among cycling enthusiasts worldwide.
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What are the growth prospects and trends in the Sports Bicycle industry?
The Sports Bicycle market growth is driven by several key factors and trends. Health and fitness are the leading factors to a rising demand for recreational and competitive cycling activities for low-impact cardiovascular exercise. Further, technological advancements play a crucial role with continuous innovations in materials such as lightweight carbon fiber frames, and improvements in aerodynamics enhance the performance of such bicycles. Additionally, the integration of electronic components, like advanced gear-shifting systems and smart connectivity features, also adds to the appeal of modern sports bicycles. Moreover, the growing awareness of environmental sustainability and the promotion of cycling as an eco-friendly mode of transportation further grow the market. Overall, the sports bicycle market growth is boosted by health consciousness, technological advancements, environmental awareness, and creating a favorable landscape for sustained expansion.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Product Type:
Road Bicycles
Mountain Bicycles
Hybrid Bicycles
BMX Bicycles
Electric Bicycles
Others
End-user:
Amateur Cyclists
Professional Cyclists
Recreational Riders
Fitness Enthusiasts
Commuters
Distribution Channel:
Offline Retail Stores
Online Retailers
Sports Equipment Stores
Specialty Bicycle Shops
Price Range:
Premium Segment
Mid-range Segment
Budget Segment
Technology:
Conventional Bicycles
Advanced Carbon Fiber Bicycles
Electric Assist Bicycles
Smart Bicycles
Frame Material:
Aluminum Frame
Carbon Fiber Frame
Steel Frame
Titanium Frame
Gender:
Men's Bicycles
Women's Bicycles
Unisex Bicycles
Application:
Racing and Endurance
Off-road and Mountain Biking
Commuting and Urban Cycling
Recreational and Touring
Segmentation By Region:
North America:
United States
Canada
Europe:
Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX
NORDIC
Rest of Europe
Asia Pacific:
China
India
Japan
South Korea
Australia
New Zealand
ASEAN
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa:
Saudi Arabia
United Arab Emirates
South Africa
Egypt
Israel
Rest of MEA.
Who are the key players operating in the industry?
The report covers the major market players including:
Giant Manufacturing Co., Ltd.
Trek Bicycle Corporation
Specialized Bicycle Components, Inc.
Merida Industry Co., Ltd.
Cannondale Bicycle Corporation
Scott Sports SA
Cube Bikes
Bianchi
Canyon Bicycles GmbH
Fuji Bikes
Orbea S. Coop.
Cervélo Cycles Inc.
Santa Cruz Bicycles
Full Report: https://www.reportsandinsights.com/report/sports-bicycle-market
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