Gear Bicycle Market Poised for Remarkable Growth, Anticipated to Reach $63.5 Billion by 2032
Surge in health awareness coupled with the low maintenance cost of bicycle, growth of innovative manufacturing designs and surge in outdoor sports drive the growth of the global ๐๐๐๐ซ ๐๐ข๐๐ฒ๐๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ. The global gear bicycle market size was valued at $37.3 billion in 2022, and is projected to reach $63.5 billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A12256
Gear bicycle consist of toothed wheels connected by a chain, enhancing speed and facilitating the rider in overcoming resistance. The primary gear is affixed to the crank, a set of levers housing the pedals. The speed boost results from the tooth ratio between the front and rear gears. Each rotation of the pedals and crank propels the bike wheel forward. Presently, consumers find outdoor sports as an ideal medium of refreshment out of a busy schedule. In addition, associations and sports organizations are promoting bicycle events to encourage not only athletes but also regular cyclists.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
STRYDER CYCLE PRIVATE LIMITED, Accell Group N.V., SCOTT Sports SA, SPECIALIZED BICYCLE COMPONENTS, INC., Kross Bikes, Giant Bicycles India , Trek Bicycle Corporation, Colnago Ernesto & C. S.r.l., MERIDA INDUSTRY CO., LTD., Firefox Bikes
Prime determinants of growth
The global gear bicycle market has experienced significant growth and transformation, driven by surge in outdoor sports, increase in health awareness, low maintenance cost of gear bicycles. A gear bicycle serves as an environmentally friendly means of transportation, offered in a different type, including electric bikes and mountain bikes.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/1412312a48577ae52b9a1c29598b4437
By application, the adventure segment held the highest market share in 2022 and is estimated to maintain its leadership status throughout the forecast period with a CAGR of 6.2%, geared bicycle offers a solution for safe and comfortable rides. By adjusting the resistance levels to match the preferred pedaling pace, riders alleviate stress on their muscles and joints, owing to the flexibility provided by the multiple gears. However, the sports segment is projected to witness a CAGR of 5.6% from 2023 to 2032, owing to the ongoing trend towards increased competitive events and interest in leisure activities such as running and cycling globally.
There is a significant surge in the popularity of gear bicycle racing for diverse physical activities, which is contributing to a rising demand. The prominence of international sports events are motivating consumers to participate in various cycling activities. These sports events motive athletes and regular citizens to adopt cycling. This contributes toward the growth of the global market. Gear cycles are equipped with advanced braking systems, delivering superior stopping power. This feature facilitates easy navigation through busy roads and enables the person to avoid obstacles with increased efficiency.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
By region, Asia-Pacific held the highest market share in terms of revenue in 2022 witnessing a CAGR of 6.2%, as some of the major associations in Asia-Pacific are the Cycling Federation of India and the Chinese Association. These associations not only promote sports and events but also influence customers for usage of bicycles. Furthermore, electric bicycles are gaining high traction in the region. All these bicycles are equipped with gears owing to the customers preference. However, the LAMEA region is expected to witness the highest CAGR of 8.3% from 2023 to 2032, owing to the leasing of bikes in LAMEA. Leasing bicycles is not only cost-efficient but also provides health benefits to users. Furthermore, increasing usage of bikes is resolving the issue of traffic congestion.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎ'๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A12256
Manufacturers are incorporating modifications in the upcoming bikes. The modification includes aluminum and carbon body for a light bodyweight of bikes, aerodynamics in design for faster rides, and durable battery. Furthermore, these improvements in the quality of bikes are done at a reasonable rate. Furthermore, bicycle associations notably contribute toward the gear bicycle industry growth, as these associations organize various rallies and sports events.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By Sales Channel, the Online segment is anticipated to exhibit significant growth in the gear bicycle market in the near future.
By Application, the Adventure segment is anticipated to exhibit significant growth in the market in the near future.
By End User, Men segment is anticipated to exhibit significant growth in the market in the near future.
By Region, LAMEA is anticipated to register the highest CAGR during the forecast period.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Bicycle Lights Market - https://www.globenewswire.com/en/news-release/2023/01/10/2586410/0/en/Bicycle-Lights-Market-Size-to-Generate-772-3-Million-by-2031-Allied-Market-Research.html
Automotive Intelligent Lighting System Market - https://www.prnewswire.com/news-releases/automotive-intelligent-lighting-system-market-to-reach-9-25-billion-globally-by-2030-at-9-8-cagr-allied-market-research-301430767.html
Tire Bead Wire Market - https://www.globenewswire.com/en/news-release/2023/03/30/2637541/0/en/Tire-Bead-Wire-Market-Size-to-Reach-2-5-Billion-by-2031-Allied-Market-Research.html
Racing Tires Market - `https://www.prnewswire.com/news-releases/racing-tires-market-to-reach-18-70-billion-globally-by-2032-at-5-6-cagr-allied-market-research-301957462.html
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