Accell Group NV, Atlas Cycles (Haryana) Ltd. and Derby Cycle Holding GmbH are expected to remain the top players in the bicycle market during 2021-2025
The bicycle market is expected to grow at a CAGR of almost 7%. The growth can be mainly attirbuted to Health, environmental, and economic benefits of cycling and the unique business strategies adopted by vendors to capitalize on the fast-growing market segments.
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Based on the COVID-19 impact analysis done in the report, the bicycle market is expected to experience a Negative impact throughout the forecast period. According to the report, market growth is likely to Increase as compared to 2020. The pandemic-focused report highlights the impact of various factors such as lockdowns, supply chain disruptions, demand destruction, and change in customer behavior during 2020.
Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.
The recovery process involves various phases including:-
- Existing business model recognition
- Focusing on agile execution of proposed and approved changes.
- Mitigating future crisis situations conceptualize scenario-based planning.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Bicycle Market 2021-2025: Segmentation
Bicycle market is segmented as below:
- Product
- On-road And Track Bicycles
- Off-road Bicycles
- X-road And Hybrid Bicycles
- End-user
- Adults
- Children
- Distribution Channel
- Offline
- Online
- Geographic
- APAC
- Europe
- North America
- South America
- MEA
The bicycle market is driven by Health, environmental, and economic benefits of cycling. In addition, other factors such as increasing number of bicycle sports events are expected to trigger the bicycle market toward witnessing a CAGR of over almost7% during the forecast period.
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