Luxury Bicycles Market Outlook 2031:
The Global Luxury Bicycles Market size was valued at USD 15.43 Billion in 2022 and is expected to surpass USD 27.66 Billion by 2031, expanding at a CAGR of 6.7% during the forecast period, 2023 – 2031. The demand for luxury bicycles is growing as many countries are raising awareness regarding the environmental-friendly lifestyles and products by taking initiatives such as encouraging people to use bicycles for daily commutes.
Moreover, players operating in luxury bicycles market are focusing on finding new materials and components for luxury bicycles to make them lighter and more efficient.
Luxury Bicycles Market Dynamics
The use of bicycles has increased with the rising awareness about urban pollution and traffic, as bicycles produce zero pollution. Growing inclination of people toward a healthy lifestyle has boosted the use of bicycles. Increase in the use of bicycles has fueled the demand for high-end or luxury bicycles. From last decade luxury bicycles are becoming a lifestyle statement.
Moreover, people prefer luxury bicycles for their comfort and design superiority. The demand for luxury bicycles is expected to rise during the forecast period. Growth in the demand for luxury bicycles is driven by increasing disposable income of people worldwide. People who ride bicycles regularly are opting for luxury bicycles that are more comfortable than conventional bicycles. Rapid growth in economy, rise in standard of living, and adoption on modern technologies are propelling the number of people buying premium or luxury bicycles. Luxury bicycle companies are making various innovations to cater to the rising demand for these bicycles.
Moreover, the market in many developing countries such as Asia, Middle East & Africa, and Latin America is expected to grow. Rising economy, disposable income in these countries, rising willingness to spend on luxury bicycles are creating opportunities for market players. Many luxury bicycle companies can easily penetrate the market in these countries. Developing economies are presenting lucrative opportunities for establishment luxury bicycle brands.
However, luxury bicycles are not as popular as conventional bicycles. Riding a luxury bicycle attract attention on the road and can lead to theft. This factor is hampering the demand for luxury bicycles, thus impeding the market
Scope of Luxury Bicycles Market Report
The report on the global Luxury Bicycles Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes |
Details |
| Report Title |
Luxury Bicycles Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year |
2022 |
| Historic Data |
2016 – 2021 |
| Forecast Period |
2023–2031 |
| Segmentation |
By Types (Hybrid Bikes, Mountain Bikes, Road Bikes, Track Bikes, and Others), By Applications (Racing, Transportation, Others), By Technology (Electric, Conventional), By End users (Men, Women, Kids) By Price Range (Premium priced (Above USD 10,000), Medium priced (from USD 5000 to 10,000), Low priced, (from USD 1000 to 5000)), and By Sales Channel (Offline and Online) |
| Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
| Key Players Covered in the Report |
Accell Group N.V., American Bicycle Group, Cannondale, Canyon Bicycles GmbH, Cervélo, F.I.V. E. Bianchi S.p.A., LIOS Bikes Ltd, Montante Cicli, Moustache Bikes, myStromer AG. Specialized Bicycle Components, Inc., The Moulton Bicycle Company, Trek Bicycle Corporation. |
Luxury Bicycles Market Segment Insights
The use of bicycles is rising significantly due to rising pollution caused by heavy traffic, the use of bicycles is increasing, as they produce zero pollution. Moreover, growing preference for a healthy lifestyle has increased the use of bicycles. Rise in demand for the luxury bicycles is attributed to increasing disposable incomes worldwide. People who ride bicycles regularly are choosing luxury bicycles that are more comfortable than conventional bicycles.
Types Segment
In terms of types, the global luxury bicycles market share is categorized as hybrid bikes, mountain bikes, road bikes, track bikes, and others. The mountain bikes segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period.
Applications Segment
Based on applications, the market is classified as racing, transportation, and others. The others segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period.
Technology Segment
On the basis of technology, the global luxury bicycles market share is bifurcated into electric and conventional. The conventional segment accounts for a major share of the market and is anticipated to expand at a considerable pace during the forecast period. The electric bicycle segment is anticipated to expand at significant CAGR during forecast period due to increasing need for luxury electric bicycles during the forecast period.
End users Segment
In terms of end-users, the luxury bicycles market share is segregated into men, woman, and kids. The men segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period.
Price Range Segment
Based on price range, the global luxury bicycles market share are segmented into premium priced (Above USD 10,000), medium priced (from USD 5000 to 10,000), and low priced, (from USD 1000 to 5000). The low-priced segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period.
Sales channel Segment
On the basis of sales channels, the luxury bicycles market is divided into online and offline. The offline segment accounts for a major share of the market and online segment is anticipated to expand at a considerable CAGR during the forecast period.
Regional Analysis
The global luxury bicycles market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is expected to continue dominating the market due to the increasing use of luxury bicycles and growing technological advancements in electric bicycles.
The market in Europe is estimated to expand at a substantial CAGR during the forecast period due to increasing accessibility & availability luxury bicycles and rising number of cycling evens, and high adoption of technologies. North America is projected to hold a considerable share of the market due to the presence of key manufactures of luxury bicycles in the US.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Luxury Bicycles market.
- Historical, Current and Projected Market Size in terms of Value.
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Luxury Bicycles Market Performance
Segments
By Types
- Hybrid Bikes
- Mountain Bikes
- Road Bikes
- Track Bikes
- Others
By Applications
- Racing
- Transportation
- Others
By Technology
By End users
By Price Range
- Premium priced (Above USD 10,000)
- Medium priced (from USD 5000 to 10,000)
- Low priced, (from USD 1000 to 5000)
By Sales Channel
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA)
- Rest of Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa (MEA)
Key Market Players Profiled in the Report
- Accell Group N.V.
- American Bicycle Group
- Cannondale
- Canyon Bicycles GmbH
- Cervélo
- F.I.V. E. Bianchi S.p.A.
- LIOS Bikes Ltd
- Montante Cicli
- Moustache Bikes
- myStromer AG
- Specialized Bicycle Components, Inc.
- The Moulton Bicycle Company
- Trek Bicycle Corporation
Competitive Landscape
- Key players in the market include Accell Group N.V., American Bicycle Group, Cannondale, Canyon Bicycles GmbH, Cervélo, F.I.V. E. Bianchi S.p.A., LIOS Bikes Ltd, Montante Cicli, Moustache Bikes, myStromer AG. Specialized Bicycle Components, Inc., The Moulton Bicycle Company, Trek Bicycle Corporation. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
- The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for luxury bicycles.
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