According to statista data, the global bicycle market will reach $62.8 billion in 2024, and it is expected that by 2029, this figure will grow to $70 billion, with a compound annual growth rate of 2.19% during the forecast period.
Consumer trend analysis:
Hybrid power: As electric bicycle technology continues to mature, electric bicycles have begun to become a new consumer trend in the bicycle market. However, due to the limitations of electric bicycles in battery capacity, they will be used more for daily commuting and leisure riding.
Specialized bicycles: As consumers' demand for mountain bikes that can be used for off-road adventures and road bikes for long-distance riding grows, more and more brands focus on producing high-quality specialized bicycles. It is worth noting that this group of people will be willing to accept higher prices, but at the same time, their professional requirements for bicycles will also be very high.
Personalized customization: The younger generation is the main audience of bicycles, and the younger generation has a strong demand for personalization. This makes brands that can customize bicycle styles, colors, and accessories become the first choice for more and more young consumers.
Folding bicycles: With the acceleration of urbanization and the continuous growth of population, the space available to individuals is gradually shrinking, which makes folding bicycles that are easy to carry and store become one of the mainstream consumer trends. |
