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Sports Bicycles Market Trends

Report ID: GMI9052
Published Date: Apr 2024
Report Format: PDF

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Sports Bicycles Market Trends

The sports bicycles industry has witnessed significant technological advancements. Innovative gear-changing methods, such as electronic shifting, allow smoother and more accurate gear changes. This enables cyclists to maintain the ideal pedaling rhythm for maximum efficiency and power transmission. For mountain bikes and gravel bikes, technological developments have resulted in more complex suspension systems that provide better control and comfort on uneven terrains, allowing riders to push their boundaries and explore more difficult tracks.

Aerodynamic developments on road bikes reduce wind-resistance, allowing riders to go faster with less effort. This is essential for both competitive riders and serious fans. Seatpost designs, ergonomic handlebars, and enhanced shock absorption systems increase long-distance comfort, lowering fatigue and encouraging riders to spend more time on their bikes.

For instance, in November 2023, Rotwild unveiled the R.X1000 and R.C1000 e-bikes with innovative gearbox units and a 960Wh battery. The R.X1000 is an electric mountain bike (E-MTB) designed for off-road adventures, featuring a classic mountain bike design with 150mm suspension travel and a sturdy build. On the other hand, the R.C1000 is an e-crossover bike suitable for everyday movement and off-road riding, equipped with mudguards, a luggage rack, an integrated lighting system, and other features for a smooth & safe ride.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of sports bicycles reached was worth USD 13.5 billion in 2023 and will register more than 7.5% CAGR between 2024 and 2032, attributed to global shift towards healthier lifestyles and increased awareness of environmental sustainability and advancements in bicycle technology.

The mountain bicycles segment achieved 44% of the market share in 2023, due to the increasing popularity of outdoor activities and adventure sports, advancements in mountain bike technology coupled with the rise in eco-tourism and off-road biking trails.

Asia Pacific market captured 50% revenue share in 2023, propelled by the region's growing population of health-conscious individuals seeking fitness and adventure and rising disposable income.

Some of the leading industry players include Bianchi, Cannondale Bicycle Corporation, Cube Bikes, Giant Manufacturing Co., Ltd., GT Bicycles, Jenson USA, Merida Industry Co., Ltd., Scott Sports SA, Specialized Bicycle Components, Inc, and Trek Bicycle Corporation.