Global Racing Bicycle Market - WishTree Insight

Global Racing Bicycle Market by Technology (Conventional and Electric), Product (Road, Cargo, Hybrid, Mountain), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2022 – 2032

The Racing Bicycle market size was valued at USD 60.1 billion in 2022 and is expected to surpass USD XX billion by 2032, expanding at a CAGR of 8.9 % during the forecast period, 2022–2032. The market's growth is attributed to the rising adoption of bicycles, and increasing awareness of health.

INTRODUCTION

A racing bicycle, also known as a road bike, is a bicycle designed for high-speed road use. They typically feature lightweight frames, narrow tires, and multiple gears to help the rider maintain a high speed on pavement. They are commonly used in road racing, but can also be used for commuting and fitness riding. There are several benefits to using a racing bicycle Riding a racing bike can improve cardiovascular health and endurance. Cycling is a low-impact form of exercise, making it easy on the joints, which is beneficial for people recovering from injuries or who have joint problems. Riding a racing bike can be an effective way to lose weight and tone muscles. Using a racing bicycle as a means of transportation is an environmentally friendly option. Regular cycling can help reduce stress and improve mental health. It is relatively cheaper than motorized vehicles in terms of maintenance and fuel costs. Racing bicycles are easy to store and transport, making them a convenient option for commuting or traveling

Market Trends, Drivers, Restraints, and Opportunities

• Rising adoption of bicycles looking towards health benefits is a key driver to propel the market growth.
• The popularity of dockless bicycle-sharing systems is rising market growth.
• Technological advancements in mobile app development and GPS systems are expected to spur the market.
• The rising bicycling events worldwide are expected to boost the market.
• The growing traffic congestion and lack of parking space in metropolitan cities are anticipated to the surge of racing bicycles creating lucrative growth in the market.

Scope of the Report

Market Segment Insights

The conventional segment is projected to register a considerable CAGR

Based on technology, the racing bicycle market is bifurcated into conventional and electric. The conventional segment is expected to expand at a rapid pace during the forecast period owing to less repair and maintenance costs. However, the electric segment is anticipated to hold a key share of the market in the coming years owing to higher capacity and long life.

The road segment is expected to expand at a rapid pace

Based on product, the racing bicycle market is divided into the road, cargo, hybrid, and mountain. The road segment is expected to expand at a rapid pace during the forecast period owing to convenience. However, the mountain segment is anticipated to hold a key share of the market in the coming years as a form of adventure and leisure.

The Asia Pacific is anticipated to constitute a key market share

In terms of regions, the racing bicycle market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is expected to constitute a key share of the market during the projected period owing to support bicycle commutation. However, the market of Europe is anticipated to expand at a rapid pace during the forecast period as it is considered home to bicycles and events of bicycle racing.

Competitive Landscape

Key players competing in the Racing Bicycle market are Atlas Cycles Ltd. (India); Avon Cycles Ltd. (India); Giant Bicycles (Taiwan); Trek Bicycle Corporation (U.S.); Accell Group (Netherland); Dorel Industries Inc. (U.S.).

FAQs

Mention the market size of the Racing Bicycle in 2022.

The market size of Racing Bicycles in 2022 was USD 60.1 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 8.9%.

What are the key drivers of the market?

The market's growth is attributed to the rising adoption of bicycles, and increasing awareness of health.

What segments are covered in the Racing Bicycle report?

The segments covered in the report are technology (conventional and electric), and product (road, cargo, hybrid, mountain).

Mention which region is expected to hold the highest share of the Racing Bicycle market.

The Asia Pacific region is expected to hold the highest share of the Racing Bicycle market.

Which segment holds the largest market share in the Racing Bicycle by 2032?

The Conventional segment holds the largest market share in the Racing Bicycle by 2032.

Mention the key players in the market.

Atlas Cycles Ltd. (India); Avon Cycles Ltd. (India); Giant Bicycles (Taiwan); Trek Bicycle Corporation (U.S.); Accell Group (Netherland); Dorel Industries Inc. (U.S.)