Handcycle Market - Forecasts from 2024 to 2029

The handcycle market is projected to grow at a CAGR of 5.85% from US$3.461 billion in 2022 to US$5.153 billion in 2029 during the forecast period.

The handcycle is a type of bicycle that is generally powered by pedals using the human legs to go a certain distance, but instead of powering the bicycle using the human legs, the pedals are moved using the human hands in the handcycle. These handcycles are generally tricycles or can be called cycles with three tires to support them. These handcycles are useful for disabled people who have a disability that affects their legs and mobility and can only use their hands.

These handcycles provide them a chance for mobility with ease and can be used by them in their daily lives to go from one place to another. These handcycles are not only used by people with disability but also by people who are perfectly normal and need to use these handcycles to keep up with a healthy lifestyle. These normal people use handcycles to improve their cardiovascular health, which keeps heart disease away. Further, these handcycles can provide increased upper-body strength and a healthy lifestyle if used daily by normal or disabled people.

HANDCYCLE MARKET INTRODUCTION:

The handcycle market is driven by the growing developments in handcycle technology over the years, which has increased the overall performance of the handcycle and safety provided by them to people with disability, which makes it more reliable for them to use in their daily lives and comfortable for the riders of the handcycles.

The growth in health awareness and people investing heavily in products related to health or which can enhance their health is growing rapidly. This rapid growth in health awareness among the general public is driving the demand for handcycles in the market as they can provide better upper-body strength and improved cardiovascular health, which can prevent any heart-related diseases in the future. Thus, these factors are contributing significantly to boosting the handcycle market over the forecast period.

HANDCYCLE MARKET DRIVERS:

Growth in technological advances in handcycle technology is predicted to propel market growth.

The technology has been improved significantly for handcycles over the years, which has made the handcycle more reliable and safe to use in a wide variety of applications like in the Olympics for races that happen which include the use of handcycles, the general public using it for improving health, and lastly for the people who have a disability and can only use their hands and not legs. These technological advancements include the electrification of the handcycle, which has improved the mobility and speed of the handcycle for disabled people so that they can use it in their daily lives without any hassle and with comfort. Hence, the growth in technology for handcycles is anticipated to fuel the handcycle market over the forecast period.

Various products offered by key players is another factor anticipated to propel the market growth.

There are various products offered by key players in the handcycle market. For instance, the Defier handcycle can be used by people aged 10 and above with a weight range of 225 lbs. These handcycles provide an enjoyable riding experience for the rider as it has some combined features from two of the previous handcycles series which were excellent in performance. The driver of this handcycle is assured safety with high-speed on the road as the on-road visibility will be there in these handcycles while going at high speed. This handcycle provides a stable ride to the driver, which doesn’t compromise the overall performance of the handcycle when going through the whole ride on the road.

Furthermore, the Top End Force 3 offered by Bike-On is the newest Force series of handcycles, which combines features from the previous models of the Force series like Force CC, Force 2, and Force G. The red color of the handcycles provides better on-road visibility and can be useful at schools, clubs, and teams by providing them with an enjoyable riding experience. This handcycle includes several features and accessories, such as adjustable seats, chain guards, safety flags, and reflectors. The new model of these handcycles comes with wider tires that are useful in different terrains like unpaved or gravel where the handcycle can perform efficiently.

HANDCYCLE MARKET RESTRAINT:

High manufacturing costs and the availability of cheaper alternatives can hinder market growth.

The handcycle market, despite having an important role in improving the daily mobility solutions for the public with disabilities or providing a good riding experience and enhanced performance of the handcycle while being easy-to-use and ensuring safe travel for people who buy these handcycles can lead to various challenges that can be faced by the manufacturers of these handcycles that may impact the handcycles market negatively over the forecast period.

For instance, the high-cost requirement for the development of electric or normal handcycles when compared to traditional bicycles with their high-tech electric components and additional components for the special design of handcycles. The limited amount of awareness among the people about these handcycles, coupled with its competitive alternatives growing significantly in the market like bicycles, are some factors that are expected to hinder the handcycle market growth over the forecast period.

HANDCYCLE MARKET - GEOGRAPHICAL OUTLOOK

The growth is projected to be prominent in the Asia Pacific region.

The Asia Pacific handcycle market is expanding rapidly, owing to several causes. One important factor is the increased emphasis on physical health and recreational possibilities for people with impairments. This shift in mentality is driving increased demand for adapted sports equipment such as handcycles. Furthermore, constant developments in technology and materials improve handcycle performance, comfort, and durability, making them more desirable to consumers in the region.

Government actions to promote inclusion and accessibility in sports, such as financing for infrastructure development and community programs, help to drive market expansion. Furthermore, changing cultural views towards disability and accessibility are creating a more inclusive environment, promoting increased involvement in hand-cycling as both a leisure activity and a viable mode of transportation. These factors, taken together, lead to the Asia Pacific handcycle market's consistent growth and optimistic forecast.

Handcycle Industry Updates:

• In March 2024,The Cycling and Health Tech Industry R&D Center or CHC, a leading bicycle designer from the country of Taiwan, announced the launch of handcycles that are specially designed for the physically challenged or disabled people who can ride this handcycle outside and enjoy the experience of riding this handcycle. During the launch of these handcycles, the CTC, along with BAS or Bicycle Alliance for Sustainability, who is their partner in this launch, joined hands together with several different key players involved in Taiwan to take a step towards this sustainable and social cause by providing these handcycles.
• In September 2022,HP Velotechnik announced the launch of their highly innovative product in the field of handcycles, which is called Hands-On-Cycle. This launch happened at the Eurobike trade fair in Friedrichshafen and impressed several people present there with its innovative technical solutions. This handcycle has several unique features including its extremely compact design with integrated cable pulls and a fully enclosed chain guide. This Hand-On-cycle is built such that it can become a daily vehicle for people with disabilities while ensuring a good riding experience with enhanced performance.

The Handcycle market is segmented and analyzed as follows:

By Type

• Manual
• Electric
• Hybrid

By Application

• Sports Hand Bikes
• Wheelchair Hand Bikes
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others