The Bicycle Market | United States

Bicycles are ridden to work, school, and almost everywhere. With the advent of electric bicycles, things have taken a turn for the better as transportation has gotten easier. The current global trends suggest that Asia Pacific will be the most lucrative market for electric bikes in the next eight years while e-bikes will be the leading highlight of current and future market trends.

The bike industry is forecasted to grow at a CAGR of 7.5% in the next eight years. The e-bike segment is expected to grow at a CAGR of 4% and estimated to be at a market valuation of USD 23.43 billion by 2024. Total revenue growth is set to expand from USD 45.08 billion to $62 billion.

The bicycle industry in the US was valued at 6.2 billion for the year 2015, this includes retail sales of bikes, parts and accessories through all channels. A trend that has been observed in the US market is the sale of used bicycles. Approximately USD 1.2 billion in used bicycles were sold in 2015.

Some of the main drivers behind the current growth in this segment of the industry are an increased desire for a healthy lifestyle, lower carbon footprint, global warming, depletion of natural resources, environmental factors and lower transportation costs. The development of high-end electric bicycles is driven by the demand and disposable income of the growing middle-class economies. Currently the global leader in this industry is Giant Bicycles, however, market trends suggest that other players in this field may catch up soon due to rising economies and other environmental factors

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Bianchi Bike

  • Country : Taiwan
  • Turnover : USD 1.8 billion
  • Position : Founded on October 27, 1972, it is the world’s largest bicycle manufacturer with manufacturing facilities in Taiwan, China and the Netherlands.

Trek

  • Country : United States
  • Turnover : USD 900 million
  • Position : Started in 1975, the company is a major manufacturer of electric bikes in the US and sells under various brand names like Trek, Elektra Bicycle Company, Gary Fisher, Bontrager, Diamant Bikes, Villiger Bikes, and most recently, LeMond Racing Cycles and Kle

Specialized Bicycle Components

  • Country : United States
  • Turnover : USD 5 billion
  • Position : A leading manufacturer of the world’s best high-performance bikes, Specialized derives its name from its bicycle related products catered for high-performance.

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