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(India.CityRegions.Com, August 11, 2021 ) Global Bicycle Market was valued at USD 58.64 billion in 2020 which expected to reach at USD 148.25 billion in 2027 at a CAGR 7.8% from 2020-2027.
Bicycles are the easiest & economical mode of transport. They also helpful to curb pollution levels from other transportation & environmental negative impacts. Cycling is sustainable mode of mobility which has no dependence on fossil fuels & has zero emissions unlike other motorized modes of transport. The rise in the number of people opting for bicycling as a form of leisure is expected to drive the global bicycle market growth.
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Some prominent players operating in the global bicycle market are such as Accell Group, Trek Bicycle Corporation, SCOTT Sports SA, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd, Giant Bicycles, Dorel Industries Inc., Cervelo, Avon Cycles Ltd., Atlas Cycles Ltd, etc.
By Product Type
• Mountain Bicycle
• Hybrid Bicycle
• Road Bicycle
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
Also, the Global Bicycle Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC region emerged as the dominant segment in the year 2020 with a revenue share exceeding 36%. This region is also anticipated to emerge as the fastest-growing segment in the forthcoming years. Nations such as Japan, China, and Singapore emphasize rolling out the infrastructure necessary to encourage & support bicycle commutation.
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