From GlobeNewswire: 2024-06-27 08:43:00

Exactitude Consultancy, the market research wing of Ameliorate Digital Consultancy, has released a detailed report on the Bicycle Market. The global market is expected to grow from USD 110.38 billion in 2023 to USD 215.1 billion by 2030, with a CAGR of 10%. Factors like increased awareness of health benefits have contributed to the industry’s growth.

The rise in urbanization, traffic congestion, and environmental concerns has fueled the demand for bicycles as a mode of transportation and recreation. The COVID-19 pandemic also played a role in boosting the bike market, showcasing their importance during uncertain times. Major players in the industry include Giant Manufacturing Co. Ltd, Accell Group, and Trek Bicycle Corporation.

The Bicycle Market Report offers insight into the historical growth of the market, with a CAGR of 7.42% from 2019 to 2023. The forecast predicts a 10% CAGR from 2024 to 2030, driven by advancements in mobile apps and GPS technology influencing dockless bicycle-sharing systems. Asia Pacific led the market share in 2023, with a predicted continued dominance through the forecast period.

Exactitude Consultancy also offers reports on other industries, such as Transportation Telematics, Automotive Coatings, and Water Bikes markets. These industries are expected to see significant growth with CAGRs ranging from 4.3% to 20%. These reports provide valuable insights into market trends, competitive landscapes, and growth opportunities.

With a focus on providing accurate and insightful research, Exactitude Consultancy helps clients navigate complex business challenges and make informed decisions. Their reports cover a wide range of industries, including automotive, marine, and aerospace, offering in-depth analysis and market intelligence to drive strategic decision-making. Explore their reports to gain a competitive edge in your industry.



Read more at GlobeNewswire: Bicycle Maket Size, Status And Industry Trends Outlook