Gear Bicycle Market

Global Gear Bicycle Market Report: By Gear Type (Single Speed and Multi-Speed), Bicycle Type (Road Bikes, Mountain Bikes, Hybrid Bikes, Commuter Bikes, Touring Bikes and Cyclocross Bikes), Distribution Channel (Offline and online), End-user (Men, Women and Children) Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Automobile & Transportation | February 2024 | Report ID: EMR00569 | Pages: 301

Global Gear Bicycle market is predicted to reach approximately USD 43.98 billion by 2032, at a CAGR of 4.82% from 2024 to 2032.

Gear bicycle bicycles are equipped with gear mechanisms, including derailleur or hub gears, enabling riders to adapt to various terrains, slopes, and riding conditions. The market has witnessed significant growth in recent years, driven by increasing urbanization, rising health and fitness consciousness, and the growing popularity of cycling as a sustainable mode of transportation. Additionally, technological advancements, such as the integration of electronic shifting systems and lightweight materials, have further propelled market expansion.

The gear bicycle market has grown significantly globally in recent years due to a number of important factors. Bicycles with gear systems are becoming more and more popular due to urbanisation trends, personal health concerns, and environmental sustainability. Cycling is becoming a more popular and environmentally friendly form of transportation for consumers, particularly in crowded cities with high levels of pollution and traffic jams. In addition, market expansion has been supported by the expansion of cycling events, fitness programmes, and government-led initiatives supporting cycling infrastructure.

 

 

Global Gear Bicycle report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 28.79 billion

Projected Market Value (2032)

USD 43.98 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Gear Type, By Bicycle Type, By Distribution Channel, By End-User & Region.

Segments Covered

By Gear Type, By Bicycle Type, By Distribution Channel, By End-User, & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Gear Bicycle dynamics

The dynamics of the worldwide gear bicycle market are influenced by a number of variables that affect the industry's supply and demand. Market dynamics are largely driven by shifting consumer preferences and lifestyle choices on the demand side. Gear bicycles are becoming more and more popular as a form of transportation and recreation as concerns about environmental sustainability and health and fitness increase. Furthermore, the global trend of urbanisation and the growth of cycling infrastructure in cities have opened up new markets as more people look for non-conventional ways to get around crowded cities. Additionally, the emergence of digital marketing techniques and e-commerce platforms has improved market accessibility, allowing producers and merchants to reach a wider audience and profit from new trends.

On the supply side, technological advancements and innovations continue to reshape the landscape of the gear bicycle market. Manufacturers are investing in research and development to improve the performance, durability, and design of gear systems, as well as integrate smart features and connectivity options to enhance the riding experience. Furthermore, strategic partnerships and collaborations between industry players, as well as mergers and acquisitions, are reshaping the competitive landscape and driving consolidation within the market. Regulatory initiatives and standards related to safety, environmental sustainability, and product quality also influence market dynamics, shaping manufacturers' strategies and product offerings. Overall, the global gear bicycle market is characterized by dynamic and evolving trends, driven by shifting consumer preferences, technological advancements, and regulatory.

 

Global Gear Bicycle drivers

  • Health and Fitness Consciousness

Gear bicycle demand is rising as people look for more environmentally friendly ways to travel and become more health conscious. Cycling provides a host of health advantages, such as stress relief, weight management, and cardiovascular exercise. A growing number of people are turning to cycling as a practical and pleasurable way to stay active and enhance their general well-being in light of growing concerns about sedentary lifestyles and the prevalence of chronic diseases. The use of gear bicycles is increasing due to this trend, especially among urban residents searching for environmentally friendly ways to commute and recreational cyclists looking for outdoor exercise opportunities.

  • Technological Advancements

The market is expanding due to the constant innovation in bicycle design and gear technology, which improves riders' comfort, convenience, and performance. In order to provide lighter materials, electronic shifting systems, and sophisticated gear mechanisms that provide smoother gear changes and increased efficiency, manufacturers are spending money on research and development. The integration of intelligent features like GPS navigation, fitness tracking, and mobile device connectivity is made possible by technological advancements, which improve the overall riding experience. Technological innovations are critical in propelling sales and expanding market opportunities as consumers seek out more sophisticated and user-friendly gear bicycles.

 

Restraints:

  • High Cost of Gear Bicycle

The initial cost of purchasing a gear bicycle can be prohibitive for some consumers, especially in regions where disposable incomes are relatively low. Gear bicycles typically command higher price points compared to conventional bicycles, primarily due to the added complexity of gear systems and advanced components. As a result, price sensitivity among consumers may limit market penetration, particularly in emerging economies where affordability is a key consideration for purchasing decisions. Manufacturers and retailers need to address this challenge by offering competitive pricing strategies, financing options, and entry-level models to attract a broader customer base.

  • Limited Cycling Infrastructure

Inadequate cycling infrastructure, including bike lanes, dedicated pathways, and secure parking facilities, poses a significant barrier to market growth in many regions. Without proper infrastructure support, cyclists may face safety concerns, traffic congestion, and limited access to key destinations, discouraging them from using gear bicycles for commuting and recreational purposes. Government initiatives and urban planning efforts are essential to address these infrastructure gaps and promote cycling as a viable transportation option. However, the lack of funding, competing priorities, and bureaucratic hurdles often hinder the development of comprehensive cycling infrastructure networks, limiting market opportunities for gear bicycle manufacturers and retailers.

 

Opportunities:

  • Rise of Electric Gear Bicycles

The advent of electric gear bicycles offers a substantial chance for market growth. With the help of electric-assist technology, cyclists can pedal more efficiently and thus reach a broader audience, including older adults and people with mobility impairments. With the help of electric power assistance and gear systems, electric gear bicycles allow riders to easily navigate longer distances and difficult terrain. Electric gear bicycle demand is predicted to soar as consumers seek out environmentally friendly substitutes for conventional modes of transportation and embrace electric mobility solutions more and more. Producers can take advantage of this trend by creating cutting-edge electric gear bicycle models that satisfy a range of consumer demands and lifestyle preferences.

 

Segment Overview

  • By Gear Type

By gear type, bicycles are classified into single-speed and multi-speed categories. Single-speed bicycles feature a simple gear mechanism ideal for flat terrain and urban commuting, offering low maintenance and ease of use. On the other hand, multi-speed bicycles are equipped with gear systems that allow riders to adjust speed and resistance, making them suitable for diverse riding conditions, including hilly terrain and off-road trails.

  • By Bicycle type

Bicycle type segmentation categorizes gear bicycles into distinct categories tailored to different riding preferences and purposes. Road bikes are designed for speed and efficiency on paved roads, featuring lightweight frames and narrow tires for optimal performance. Mountain bikes are built to handle rugged off-road trails and challenging terrain, equipped with suspension systems and durable components for enhanced stability and control. Hybrid bikes combine features of road and mountain bikes, offering versatility for commuting, fitness riding, and leisure cycling. Commuter bikes prioritize comfort and practicality for urban commuting, with features such as fenders, racks, and lights for everyday use. Touring bikes are designed for long-distance travel and loaded touring, featuring robust frames and gear systems capable of carrying heavy loads. Cyclocross bikes are versatile options suited for both on-road and off-road riding, featuring wider tires and clearance for mud and debris.

  • By Distribution Channel

Gear bicycles are distributed through both physical retail locations and internet retail platforms. Brick-and-mortar stores, specialty bicycle shops, and department stores are examples of offline retail. They offer customers in-person shopping experiences and individualised support from staff members who possess extensive knowledge. Customers can browse, compare, and buy gear bicycles from the comfort of their homes with options for doorstep delivery and hassle-free returns through online retail channels, which provide accessibility and convenience.

  • By End-User

End-user segmentation considers the diverse demographics of gear bicycle consumers, including men, women, and children. Gear bicycles are designed with ergonomic considerations and size options tailored to the specific needs and preferences of each demographic group, ensuring a comfortable and enjoyable riding experience for riders of all ages and gender.

 

Global Gear Bicycle Overview by Region

In North America, the market is driven by a strong culture of recreational cycling, supported by extensive cycling infrastructure in urban centers and a growing emphasis on active lifestyles. The region also benefits from a robust retail landscape, with a wide array of specialty bicycle shops, online retailers, and outdoor recreation outlets catering to diverse consumer preferences. Europe stands out as a mature market for gear bicycles, with a long tradition of cycling as a mode of transportation and leisure activity. Countries like the Netherlands and Denmark have well-developed cycling infrastructure and high rates of bicycle ownership, fostering a conducive environment for market growth. Moreover, stringent environmental regulations and government initiatives promoting sustainable transportation further drive demand for gear bicycles across the continent. In the Asia-Pacific region, rapid urbanization, population growth, and rising disposable incomes are fuelling demand for gear bicycles as affordable and eco-friendly transportation solutions. Countries like China and India are witnessing a surge in bicycle sales, driven by increasing traffic congestion, air pollution concerns, and health-conscious consumer trends. Moreover, government investments in cycling infrastructure and initiatives to promote active transportation are creating opportunities for market expansion in the region.

 

 

Global Gear Bicycle market competitive landscape

Major manufacturers such as Giant Manufacturing Co., Ltd., Trek Bicycle Corporation, and Specialized Bicycle Components, Inc. dominate the market with a wide range of gear bicycle offerings catering to various riding preferences and demographics. These industry leaders invest heavily in research and development to introduce cutting-edge technologies, lightweight materials, and ergonomic designs that enhance performance and user experience. Moreover, strategic partnerships with professional cycling teams, sponsorship of cycling events, and celebrity endorsements help strengthen brand visibility and credibility, driving consumer loyalty and market share. Alongside established players, a diverse ecosystem of niche brands, boutique manufacturers, and start-ups contribute to market competitiveness by offering specialized gear bicycles tailored to specific riding disciplines, customization options, and lifestyle aesthetics.

E-commerce platforms and online marketplaces have also democratized market access, enabling emerging brands to reach global audiences and compete on a level playing field with established incumbents. Distribution channels play a pivotal role in shaping the competitive landscape, with offline retailers, specialty bike shops, and online retailers vying for market share and customer loyalty through competitive pricing, promotions, and value-added services.

 

Global Gear Bicycle Recent Developments

  • Dec 2022, Classified Cycling, a pioneer in developing cutting-edge gear shifting technology for the bicycle industry, has successfully secured a funding round totalling 22 million euros. The investment, spearheaded by UK-based Active Partners, underscores the company's commitment to advancing its product portfolio, especially in e-bikes, and forging strategic partnerships.

 

Scope of global Gear Bicycle repor

Global Gear Bicycle report segmentation

ATTRIBUTE

DETAILS

By Gear Type

  • Single Speed
  • Multi-Speed

By Bicycle Type

  • Road Bikes
  • Mountain Bikes
  • Hybrid Bikes
  • Commuter Bikes
  • Touring Bikes
  • Cyclocross Bikes

Distribution Channel

  • Offline Retail
  • Online Retail

End-User

  • Men
  • Women
  • Children

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Gear Bicycle size and forecast: To identify and estimate the market size for global Gear Bicycle market segmented by Gear Type, By Bicycle Type, By Distribution Channel, By End-User, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Gear Bicycle
  • Market Influencing Factors: To find out the factors which are affecting the market of global Gear Bicycle among consumers.
  • Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Gear Bicycle forecast period is 2024 - 2032.
According to global Gear Bicycle research, the market is expected to grow at a CAGR of ~ 4.82% over the next eight years.
The possible segments in global Gear Bicycle are based on by Gear Type, Bicycle Type, Distribution Channel, By End-User, & by region.
The expected market size for Global Gear Bicycle is USD 28.79 billion in 2023.
The major players in the market are Accell Group N.V., Colnago Ernesto & C. S.r.l., Firefox Bikes, Giant Bicycles India, Kross Bikes, Merida Industry Co., Ltd., SCOTT Sports SA, Specialized Bicycle Components, Inc., Stryder Cycle Private Limited and Trek Bicycle Corporation.