Bicycles Market to Witness Significant Growth due to Increasing Fitness Awareness Among People and Rising Fervor of Environmentalism Till 2021 | Million Insights

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Jul 03, 2018, 05:20 ET

FELTON, California, July 3, 2018 /PRNewswire/ --

Global Bicycles Market is segmented on the basis of technology as conventional and electric. Bicycle is said to be a significant means of sustainable transportation offering environment, performance, and price benefits and outshining the gasoline based vehicles. There are numerous features attached with bicycles starting from being eco-friendly, inexpensive and a healthy mode of transportation.

As we all are aware, the world is lately undergoing a crisis in conserving the natural resources and therefore it is estimated that sometime in future, a possibility of exhaustion of resources will occur. And that is why, for conserving and accumulating oil and fuel, more and more customers prefer cycling to travel the short distances. Through the means of cycling, people can stay away from massive traffic congestion and can reach their destination relatively faster.

The prominent factors that are playing a major role in raising the share of the market include rising fervor of environmentalism, rise in the adoption of cycling by self-proclaimed environmentalists and growing consciousness regarding health among the consumers across the globe. It has been observed that people are involving themselves in healthy and active exercises, which is, in turn, boosting the demand for bicycles.

Aspects like technological and design improvements in bicycle frames are also benefitting the market to develop at a much greater pace. Bicycles Market is segmented on the basis of product types as Road Bicycle, Mountain Bicycle, City Bicycle, Touring Bicycle, Track Bicycle, Track Bicycle, and Child Bicycle. Among the technology, comparatively, the conventional bicycles are gaining huge demand across the developing countries, the reason being existence of less disposable income and more middle class and labor population.

Browse 104 page research report with TOC on "Global Bicycles Market" at: https://www.millioninsights.com/industry-reports/bicycles-market

Bicycles Market is segmented on the basis of price as premium, mid-range, and low range. Among all, the premium bicycle segment is dominating the other segments. Bicycles Market is segmented on the basis of end user as men, women, and kids. Bicycles Market is segmented on the basis of applications as Transportation Tools, Recreation, Racing, Physical Training, and Others.

Bicycles Market is segmented on the basis of geographical location as North America, China, Europe, Japan, India, and Southeast Asia. As far as the geography is concerned, Asia Pacific is considered as the leader of the market. And it is estimated that the region will remain as the largest region in the next couple of years, the reason being huge population and rising employment of bicycle as a sustainable mode of transportation.

On the other hand, it has also been anticipated that the region will display a robust growth rate in the near future; the main factors that are responsible for the augmented growth include steady population growth, emergence of government initiatives to encourage sustainable transportation and a healthier life style. In addition, growth in economies and increasing disposable income of the middle class are some of the other factors that are also contributing to raise the demand for high-end bicycles in this particular region.

China, Europe, and North America are also coming up one of the promising regions in the market of bicycles. The key players operating in the bicycles market include Trinx Bikes, DAHON, Cycoo, Bridgestone Cycle, Laux, Samchuly Bicycle, Cube, Pacific Cycles, Grimaldi Industri, Gazelle, KHS, Forever, Scott Sports, Fuji Bikes, Pashley Cycles, Huffy, LOOK,Accell Group, Derby Cycle AG, Easy Motion, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, and Yadea Technology Group Co. Ltd.

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