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The global bicycle market size is expected to reach USD 147.24 billion by 2027 backed by the growing focus by the governments across the globe to develop advanced cycling infrastructure to promote bicycles among the population. Fortune Business Insights published this information in its latest report, titled, “Bicycle Market Size, Share & COVID-19 Impact Analysis, By Type (Road, Mountain, Hybrid, and Others), Technology (Electric and Conventional), End-User (Men, Women, and Kids), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 65.43 billion in 2019 and is likely to exhibit a CAGR of 6.1% between 2020 and 2027.
Europe’s Largest Bicycle Brand, my Boo, Enters the U.K. Market to Strengthen its Position
In February 2019, my Boo, the Germany-based social cycle brand, commenced distributing its high-quality bamboo bikes in the lucrative market of the United Kingdom. With over five years of strong foundation across large European countries such as Austria, Germany, and Switzerland, along with more than 100 local dealers, the company aims to build a strong U.K network.
Several companies like my Boo are focusing on exploring the uncharted regions to build a presence and introduce innovative bicycles that will bode well for the growth of the market.
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Increasing Government Focus on Building Advanced Cycling Infrastructure to Augment Growth
In May 2020, the U.K. government proposed a plan to invest about USD 2,000 million for the development of cycling and walking infrastructure across the U.K. Along with the U.K., government agencies of several countries are focusing on developing advanced and user-friendly cycling infrastructure that is expected to promote the adoption of innovative cycles globally. Additionally, the growing demand for mountain bikes from off-road enthusiasts is expected to contribute to the global bicycle market growth during the forecast period.
Key Players Focus on Acquiring Other Small Companies to Expand Their Product Portfolio & Boost Sales Revenue
The global market comprises small, medium, and large companies striving to maintain a stronghold during the forecast period. The larger companies are actively focusing on acquiring other small companies to expand their product portfolio and further improve sales across the globe. Additionally, the development of advanced electric bicycles by other key players is expected to boost market growth.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
North America (By Type, Technology, End-User, and by Country)
Europe (By Type, Technology, End-User, and by Country)
Asia Pacific (By Type, Technology, End-User, and by Country)
South America (By Type, Technology, End-User, and by Country)
The Middle East and Africa (By Type, Technology, End-User, and by Country)