Lucintelís Analysis of Global Bicycle Industry Estimates $64.1 Billion Market for Industry Players in 2018
Irving, TX, July 16, 2014 --(PR.com
)-- Increasing concern for environmental issues and government pressure to reduce carbon emissions are expected to drive the bicycle industry in the future. The global revenue for the bicycle market is expected to reach an estimated $64.1 billion by 2018. Lucintel, a leading global management consulting and market research firm, has analyzed the global bicycle industry and presents its findings in “Global Bicycle Industry 2013-2018:Trends, Profit, and Forecast Analysis.”
The global bicycle manufacturing industry is highly fragmented with top player capturing more than 4% of the industry share. The Asia Pacific (APAC) region dominates the industry by representing majority of the global industry share. A combination of factors such as rising energy prices, growing environmental concerns, and consumer spending habits significantly influences the industry dynamics.
Lucintel’s research indicates that increasing fuel prices drives the demand for bicycles as it compels consumers on restricted incomes to change their preferences regarding transportation methods. These choices often turn toward low-cost alternatives for transportation, such as bicycles, to meet their personal budget constraints.
As indicated in the Lucintel study, the Rest of the World (ROW) countries indicate good growth potential as governments promote bicycles as a more prevalent means of transportation. People regard bicycle travel as cost savings, and bicycle transport is not seen as indicating high or low economic status. The North America industry is anticipated to grow with an increasing demand for high-end bikes as the region’s economy improves. Low penetration rate in APAC indicate potential for bicycles in that region.
Demand for traditional bicycles’ growth will be low, but with increasing purchasing power in major bicycle markets, good potential exists for premium bicycles and e-bicycles. The industry’s parts and accessories segment is expected to grow more than bicycles themselves. Because parts and accessories have higher margins, companies will focus more promoting those sales to improve their margins This study provides an overview of the global bicycle industry and tracks industry performance in four regions. For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides management consulting services that help clients effectively execute their corporate strategy. Lucintel also provides research reports on M & A, due diligence and growth consulting.
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