The bicycle market is expected to grow at a CAGR of 7% during the forecast period. Increasing number of bicycle sports events, drivers.2, and drivers.3 are some of the significant factors fueling bicycle market growth.
Increasing number of bicycle sports events
Market characteristics
The global bicycle market was a fragmented industry that was in a phase of growth in 2020. By 2025, the market structure would continue to be fragmented. Its lifecycle stage would continue to be in the growth phase.
The market characteristics have been analyzed considering:
Lifecycle stage of the market – innovation vs. growth vs. maturity
Structure of the market – fragmentation vs. concentration
Impact of external forces – disruptive and regulatory forces on the market
Market behavior of the participants to capture organic growth (innovation) vs. inorganic growth (M&A activity)
