Asia Pacific Bicycle Market Trends and Growth Opportunity 2021-2026

1. Asia Pacific Bicycle Market Trends and Growth Opportunity 2021-2026 [ 2023 UPDATE Available – Forecast 2023-2030*] The global bicycle market is poised for significant growth in the Asia Pacific region, fueled by increasing demand for e-bikes and the region's favorable manufacturing landscape. According to a recent report, the market, which was valued at US$42.4 billion in 2018, is projected to reach a staggering US$100.8 billion by 2026, with a remarkable compound annual growth rate (CAGR) of 12.7% between 2021 and 2026. Access Full Report: https://www.fairfieldmarketresearch.com/report/bicycle-market The surge in bicycle sales can be attributed to various factors, including growing concerns about environmental impact, the preference for greener transportation options, and the promotion of healthier lifestyles. With the rise in chronic diseases and traffic congestion, bicycles have emerged as a popular means of promoting physical activity and combating pollution.

2. One of the key drivers of the market is the rapid adoption of e-bikes in the Asia Pacific region. Governments and regulatory bodies are taking steps to encourage the use of e-bikes, which provide pedal-assisted support and have a maximum speed of up to 25 km/h. China, the largest electric bike market globally, recently introduced regulations classifying e-bikes based on their speed and motor power. While this move may lead to increased prices for e- bikes, it also paves the way for traditional bicycles to gain traction in the market. Europe, particularly countries such as Germany, Denmark, and the Netherlands, leads the adoption of e-bikes and boasts robust cycling infrastructure and supportive regulations. These factors have contributed to substantial sales growth in the region. The Netherlands alone accounted for one-fifth of all electric bicycle sales in Europe in 2015. In terms of manufacturing, the Asia Pacific region offers favorable conditions, including low manufacturing costs and an expanding network of production facilities. These factors have attracted new investors and propelled the growth of the bicycle market. However, the COVID-19 pandemic has presented challenges to the industry, impacting production, demand, and supply chains. The second half of the year remains uncertain as the virus continues to affect market dynamics. Key players in the global bicycle market include Accell Group, Dorel Industries Inc., Giant Bicycles, Merida Industry Co., Ltd, and Trek Bicycle Corporation. These multinational companies face fierce competition from regional players, indicating a diverse and dynamic market landscape. As the global bicycle market continues to thrive, the Asia Pacific region is expected to play a pivotal role in driving its growth. With supportive regulations, expanding infrastructure, and a growing consumer base, the region presents immense opportunities for manufacturers, investors, and industry stakeholders. Web: https://www.fairfieldmarketresearch.com/ Email: sales@fairfieldmarketresearch.com