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Asia Pacific Bicycle Market Outlook, 2029

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    Report

  • 109 Pages
  • December 2024
  • Region: Asia Pacific
  • Bonafide Research
  • ID: 6050744
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In the Asia-Pacific region, bicycles are frequently regarded as a practical and eco-friendly means of transportation, deeply embedded in the cultural fabric and daily routines of numerous individuals. Nations such as China, Japan, and Vietnam have historically adopted the bicycle as a fundamental mode of transit, supported by extensive networks of dedicated cycling paths and a profound cultural reverence for this simple two-wheeled conveyance. The term 'bicycle,' originating from the Latin roots 'bi,' meaning two, and 'cycle,' meaning wheel, signifies much more than merely a vehicle for travel.

It embodies a sustainable, efficient, and health-enhancing lifestyle, enabling individuals to maneuvers through congested urban environments, minimize their carbon emissions, and integrate physical activity into their everyday lives. The advantages of cycling are manifold; it alleviates traffic congestion, reduces air pollution, and fosters cardiovascular health, all while serving as an economical and accessible option for individuals across various age groups and socioeconomic statuses. In a region where rapid urban growth and development have occasionally compromised green spaces and air quality, the bicycle emerges as a symbol of a more sustainable and environmentally conscious future, empowering communities to reclaim their streets and engage with their environments in a significant and impactful manner.

According to the research report, “Asia-Pacific Bicycle Market Outlook, 2029”, the market is expected to grow with 5.35% CAGR by 2024-29. The Asia Pacific region has emerged as a powerhouse in the global bicycle market, driven by a confluence of factors that have fuelled rapid growth and expansion. One of the primary drivers is the region's burgeoning population, which has led to a heightened demand for affordable and efficient modes of transportation, particularly in densely populated urban centers.

The growing awareness of the environmental and health benefits associated with cycling has also catalysed a shift towards bicycle adoption, as governments across the Asia Pacific implement policies and infrastructure to promote sustainable mobility. Additionally, the rising middle class, coupled with increasing disposable incomes, has enabled consumers to invest in high-quality bicycles, ranging from commuter models to specialize recreational and sports variants. Furthermore, the region's temperate climate and diverse terrain have made cycling an attractive leisure activity, further bolstering the demand for bicycles across the Asia Pacific landscape.

The Asia Pacific bicycle market is a diverse and thriving industry, with various segments catering to the diverse needs and preferences of consumers. Among the key segments, road bikes, mountain bikes, hybrid bikes, and e-bikes stand out as the dominant players. Road bikes, with their sleek designs and efficient performance, have long been a favorite among urban commuters and fitness enthusiasts, while mountain bikes, with their rugged construction and off-road capabilities, appeal to adventure-seekers and outdoor enthusiasts. Hybrid bikes, blending the best features of both road and mountain bikes, have gained popularity as a versatile option for those seeking a balance between speed and comfort.

Notably, the e-bike segment has experienced a surge in demand, as consumers increasingly embrace the convenience and eco-friendliness of these electrically-assisted bicycles. Within this diverse landscape, e-bikes and road bikes emerge as the largest and most prominent categories, reflecting the growing preference for efficient, technology-driven transportation solutions and the enduring appeal of traditional road cycling.

The Asia Pacific region boasts a diverse landscape of bikers, catering to a wide range of demographics and preferences. When it comes to the end-user segment, the market is broadly divided into three key groups: men, women, and kids. Men make up a significant portion of the biking community, with their strong purchasing power and adventurous spirit driving much of the industry's growth. In contrast, the women's segment is steadily gaining traction, as more females embrace the thrill and freedom of riding, seeking bikes tailored to their needs and preferences. The kids' segment, meanwhile, represents a crucial investment in the future, as youngsters are introduced to the joys of biking and develop lifelong passions.

Delving deeper into the bikers' types, the Asia Pacific region showcases a vibrant ecosystem. The 'Highly Engaged' bikers are the true enthusiasts, spending significant time and resources on their machines, constantly seeking the latest upgrades and customizations. The 'Engaged' bikers represent a more mainstream segment, balancing their passion for riding with practical considerations. The 'Leisure' bikers, on the other hand, find joy in the casual, recreational aspects of biking, often using their machines for commuting or weekend getaways.

Finally, the 'Travel' bikers embody the spirit of adventure, traversing vast landscapes and exploring new horizons on their trusty two-wheelers. Within this diverse landscape, the data suggests that the men's 'Leisure' segment holds the highest market share, underscoring the enduring appeal of biking as a means of relaxation and enjoyment for the male demographic in the Asia Pacific region.

In the Asia Pacific region, the bicycle market is primarily segmented by technology type into electric and conventional bicycles, each catering to distinct consumer preferences and needs. Electric bicycles (e-bikes) have gained substantial traction, driven by increasing urbanization, the demand for eco-friendly transportation, and advancements in battery technology that enhance performance and rang.

On the other hand, conventional bicycles remain popular, particularly in rural areas and among traditional cyclists who appreciate the simplicity, lower cost, and fitness benefits associated with manual cycling. The growing emphasis on health and wellness, alongside government initiatives promoting cycling as a sustainable mode of transport, further supports the growth of both segments.

COVID-19 Impact

The COVID-19 pandemic significantly impacted the bicycle market. As lockdowns and social distancing measures were implemented, people turned to bicycles as a safe, healthy, and environmentally friendly mode of transportation and exercise. This led to a surge in demand, particularly for bicycles suitable for commuting and recreational activities. Additionally, the pandemic accelerated the development of cycling infrastructure in many cities, making cycling more accessible and convenient. While supply chain disruptions posed challenges, the long-term impact of the pandemic on the bicycle market is likely to be positive, with a sustained increase in cycling participation and a shift towards healthier and more sustainable lifestyles.

Considered in this report

  • Geography: Asia Pacific
  • Historic year: 2018
  • Base year: 2023
  • Estimated year: 2024
  • Forecast year: 2029

Aspects covered in this report

  • Asia Pacific Bicycle market with its value and forecast along with its segments
  • Country-wise toy market analysis
  • Various divers and challenges
  • On-going trends and developments
  • Five force models
  • Top profiled companies
  • Strategic recommendation

Countries covered in the report

  • China
  • Japan
  • India
  • Australia

Segment covered in the report

By Type

  • Road Bikes
  • Mountain Bikes
  • Hybrid Bikes
  • E-bikes
  • Others (Kids, standard, maas)

By End User

  • Men
  • Women
  • Kids

By Bikers Type

  • Highly Engaged
  • Engaged
  • Leisure
  • Travel

By Technology Type

  • Electric
  • Conventional

The approach of the report

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing the government- generated reports and databases.

After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have verified the details obtained from secondary sources.

Intended audience

This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global Bicycle Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Type
5.4. Market Size and Forecast, By End User
5.5. Market Size and Forecast, By Bikers Type
5.6. Market Size and Forecast, By Technology Type
5.7. Market Size and Forecast, By Sales Channel
6. Asia-Pacific Bicycle Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Type
6.4. Market Size and Forecast, By End User
6.5. Market Size and Forecast, By Bikers Type
6.6. Market Size and Forecast, By Technology Type
7. Market Dynamics
7.1. Market Drivers & Opportunities
7.2. Market Restraints & Challenges
7.3. Market Trends
7.4. COVID-19 Effect
7.5. Supply chain Analysis
7.6. Policy & Regulatory Framework
7.7. Industry Experts Views
7.8. China Bicycle Market Outlook
7.8.1. Market Size By Value
7.8.2. Market Size and Forecast By Type
7.8.3. Market Size and Forecast By End User
7.8.4. Market Size and Forecast By Bikers Type
7.8.5. Market Size and Forecast By Technology Type
7.9. Japan Bicycle Market Outlook
7.9.1. Market Size By Value
7.9.2. Market Size and Forecast By Type
7.9.3. Market Size and Forecast By End User
7.9.4. Market Size and Forecast By Bikers Type
7.9.5. Market Size and Forecast By Technology Type
7.10. India Bicycle Market Outlook
7.10.1. Market Size By Value
7.10.2. Market Size and Forecast By Type
7.10.3. Market Size and Forecast By End User
7.10.4. Market Size and Forecast By Bikers Type
7.10.5. Market Size and Forecast By Technology Type
7.11. Australia Bicycle Market Outlook
7.11.1. Market Size By Value
7.11.2. Market Size and Forecast By Type
7.11.3. Market Size and Forecast By End User
7.11.4. Market Size and Forecast By Bikers Type
7.11.5. Market Size and Forecast By Technology Type
8. Competitive Landscape
8.1. Competitive Dashboard
8.2. Business Strategies Adopted by Key Players
8.3. Key Players Market Positioning Matrix
8.4. Porter's Five Forces
8.5. Company Profile
8.5.1. ATLAS CYCLES (HARYANA) LIMITED
8.5.1.1. Company Snapshot
8.5.1.2. Company Overview
8.5.1.3. Financial Highlights
8.5.1.4. Geographic Insights
8.5.1.5. Business Segment & Performance
8.5.1.6. Product Portfolio
8.5.1.7. Key Executives
8.5.1.8. Strategic Moves & Developments
8.5.2. Hero Cycles Limited
8.5.3. Accell Group
8.5.4. Bridgestone
8.5.5. Camplagnolo
8.5.6. Cannondale
8.5.7. Cervélo Cycles
8.5.8. Cube Cycles
8.5.9. Dorel Industries Inc.
8.5.10. Fuji-ta
8.5.11. Giant Bicycles
8.5.12. Merida Bikes International
8.5.13. Orbea
8.5.14. Scott Sports
8.5.15. Specialized Bicycle Components, Inc
8.5.16. STRiDA
8.5.17. XDS Shenzhen Xidesheng Bicycles Co
8.5.18. Amer Sports
9. Strategic Recommendations
10. Annexure
10.1. FAQ`s
10.2. Notes
10.3. Related Reports
11. Disclaimer
List of Figures
Figure 1: Global Bicycle Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Bicycle Market Share By Region (2023)
Figure 6: Asia-Pacific Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Asia-Pacific Bicycle Market Share By Country (2023)
Figure 8: China Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Japan Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: India Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Australia Bicycle Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Competitive Dashboard of top 5 players, 2023
Figure 13: Porter's Five Forces of Global Bicycle Market
List of Tables
Table 1: Global Bicycle Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Bicycle Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 6: Global Bicycle Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 7: Global Bicycle Market Size and Forecast, By Bikers Type (2018 to 2029F) (In USD Billion)
Table 8: Global Bicycle Market Size and Forecast, By Technology Type (2018 to 2029F) (In USD Billion)
Table 9: Global Bicycle Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 10: Asia-Pacific Bicycle Market Size and Forecast, By Type (2018 to 2029F) (In USD Billion)
Table 11: Asia-Pacific Bicycle Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 12: Asia-Pacific Bicycle Market Size and Forecast, By Bikers Type (2018 to 2029F) (In USD Billion)
Table 13: Asia-Pacific Bicycle Market Size and Forecast, By Technology Type (2018 to 2029F) (In USD Billion)
Table 14: Influencing Factors for Bicycle Market, 2023
Table 15: China Bicycle Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 16: China Bicycle Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 17: China Bicycle Market Size and Forecast By Bikers Type (2018 to 2029F) (In USD Billion)
Table 18: China Bicycle Market Size and Forecast By Technology Type (2018 to 2029F) (In USD Billion)
Table 19: Japan Bicycle Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 20: Japan Bicycle Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 21: Japan Bicycle Market Size and Forecast By Bikers Type (2018 to 2029F) (In USD Billion)
Table 22: Japan Bicycle Market Size and Forecast By Technology Type (2018 to 2029F) (In USD Billion)
Table 23: India Bicycle Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 24: India Bicycle Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 25: India Bicycle Market Size and Forecast By Bikers Type (2018 to 2029F) (In USD Billion)
Table 26: India Bicycle Market Size and Forecast By Technology Type (2018 to 2029F) (In USD Billion)
Table 27: Australia Bicycle Market Size and Forecast By Type (2018 to 2029F) (In USD Billion)
Table 28: Australia Bicycle Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 29: Australia Bicycle Market Size and Forecast By Bikers Type (2018 to 2029F) (In USD Billion)
Table 30: Australia Bicycle Market Size and Forecast By Technology Type (2018 to 2029F) (In USD Billion)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • ATLAS CYCLES (HARYANA) LIMITED
  • Hero Cycles Limited
  • Accell Group
  • Bridgestone
  • Camplagnolo
  • Cannondale
  • Cervélo Cycles
  • Cube Cycles
  • Dorel Industries Inc.
  • Fuji-ta
  • Giant Bicycles
  • Merida Bikes International
  • Orbea
  • Scott Sports
  • Specialized Bicycle Components, Inc
  • STRiDA
  • XDS Shenzhen Xidesheng Bicycles Co
  • Amer Sports