Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Europe Bicycle Market Report (2023-2028)," the market is estimated at USD 25.08 billion in 2023. It is expected to register a CAGR of 9.67% during the forecast period.
A bicycle, as far as meaning goes, consists of two wheels, which are held together by a frame. This frame is steered with handlebars and is propelled by pedals. Cycling is a great exercise for somebody who wants to lead a fit life.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 25.08 billion |
| Market Size (2028) | USD 39.79 billion |
| CAGR (2023-2028) | 9.67% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The rise in environmental concerns. |
| Mergers, acquisitions, and partnerships among leading cycle brands. |
Who are the Top Companies in the Europe Bicycle Market?
The market is highly competitive, with established players, both regionally and internationally. This also makes the market immensely fragmented in nature.
Noteworthy players in the European bicycle market are,
- Accell Group NV
- Trek Bicycle Corporation
- Pon Holdings BV
- Giant Manufacturing Co. Ltd
- Bulls Bikes
- Ribble Cycles
- Riese und Muller GmbH
- Merida Industry Co. Ltd
- Scott Corporation SA
- Simplon Fahrrad GmbH
Other Reports That Might Be of Your Interest:
- Home Fitness Equipment Market Report - The home fitness equipment market is expected to register a CAGR of 2.75% during the forecast period (2023-2028).
- Fitness Equipment Market Report - The fitness equipment market is expected to register a CAGR of 5.80% during the forecast period (2023-2028).
Key Highlights from the Europe Bicycle Market Report:
Rise in the Number of Cycling Events
- The use of bicycles has increased dramatically in recent years and is predicted to rise even more because sports bicycles are used for various recreational activities like trekking and cycling events.
- Constant cycling events all throughout the year play a major role in the growth of the market. These events cater to multiple segments of the population, be it employees, children, and families.
Rise in the Demand for German E-bicycles
- In Germany, a car-free cycle highway was created, which was meant only for cyclists, spanning 62 miles. This highway connects ten cities and four popular universities in Germany.
- Multiple government initiatives were undertaken to promote the sales of e-bicycles, which contributed to the growth of the market substantially.
What are the Latest Developments in the Europe Bicycle Market?
- In September 2022, the Dutch e-bike brand Veloretti was acquired by Pon Bike. Veloretti is a seller of bikes in Europe.
- In September 2022, a brand-new e-bike designed for the mountain bike category was launched by the Accell Group’s Haibike brand.
Mordor Intelligence has Segmented the Europe Bicycle Market Based on Type, Distribution Channel, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Road Bicycles
- Hybrid Bicycles
- All Terrain Bicycles
- E-bicycles
- Other Types
- By Distribution Channel (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Offline Retail Stores
- Online Retail Stores
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Spain
- United Kingdom
- Germany
- France
- Italy
- Netherlands
- Rest of Europe
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Europe Bicycle Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- North America Bicycle Market Report - The North American bicycle market size is estimated at USD 7.55 billion in 2023. It is expected to reach USD 8.31 billion by 2028, registering a CAGR of 1.92% during the forecast period (2023-2028).
- Asia-Pacific Bicycle Market Report - The Asian-Pacific bicycle market size is estimated at USD 25.40 billion in 2023. It is expected to reach USD 34.47 billion by 2028, registering a CAGR of 6.29% during the forecast period (2023-2028).
- North America Home Fitness Market Report - The North American home fitness market is expected to register a CAGR of 2.09% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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