Germany Bicycle Market Size, Share, and COVID-19 Impact Analysis, By Product (Mountain, Hybrid, Road, and Cargo), By Technology (Electric, Conventional), and Germany Bicycle Market Insights Forecasts 2023 - 2033.

Germany Bicycle Market Insights Forecasts to 2033

•  The Germany Bicycle Market Size was estimated at USD 6,389.7 Million in 2023
•  The Market Size is Growing at 8.91% CAGR from 2023 to 2033.
• The Germany Bicycle Market Size is Expected to Reach USD 14,996.4 Million by 2033.

The Germany Bicycle Market Size is expected to Reach USD 14,996.4 million by 2033, Growing at an 8.91% CAGR from 2023 to 2033.

Market Overview

The bicycle industry or cycling industry can be generally described as the business dealing with bicycles and cycling. It encompasses at least bicycle makers, part or component makers, and accessory makers. It may also encompass distributors, retailers, bicycle associations, bicycle event promoters, and bicycle-related service providers. In addition to advocating for more safety, comfort, and convenience for bicyclists, many members of the industry also promote bicycles for poverty reduction. Transport, if looked at for the cost-benefit analysis for rural poverty alleviation, has yielded one of the highest returns in this context. Individuals have begun to understand the significance of being fit and living a healthy life. People have also begun to understand that frequent bicycling can keep disorders, like obesity, at bay. The market is expected to increase as more and more individuals are turning towards bicycling as a frequent means of exercise.

Report Coverage

This research report categorizes the market for Germany bicycle market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Germany bicycle market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Germany bicycle market.

Driving Factors

The Germany bicycle market is driven by increasing traffic jams and paucity of parking space, especially in metropolitan cities, which is encouraging individuals to opt for bicycle commuting for small distances to avoid wasting time. Meanwhile, many governments are fervently implementing the infrastructure required for bicycle commutation, thus instigating people to use bicycles. The rise in the demand for bicycling as a mode of recreation is expected to drive the growth. The use of bicycles as an easy method of exercise to lead a healthy life, away from obesity and other diseases, is expected to drive the market growth further. 

Restraining Factors

The Germany bicycle market is restrained by the threatening shortage of infrastructure to support and promote bicycle commutation, especially in developing economies, which is expected to hamper the market growth of the bicycle market. Likewise, composite material-based lightweight bicycles are making them costly, which is not good for expanding the market.

Market Segment

• The road segment held the greatest share in 2023 and is estimated to grow at a significant CAGR during the forecast period. 

Based on the product, the Germany bicycle market is divided into mountain, hybrid, road, and cargo. Among these, the road segment held the greatest share in 2023 and is estimated to grow at a significant CAGR during the forecast period. The segment growth can be linked to the reason that these are the most fundamental bikes, which do not require any advanced accessories, like those for racing, mountain, or other special-use bicycles. The increasing trend among individuals to modify road bicycles for certain purposes is also likely to support the segment growth in the next few years.

• The conventional segment accounted for the majority of the share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.

Based on technology, the Germany bicycle market is divided into technology electric and conventional. Among these, the conventional segment accounted for the majority of the share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The reason for the high market share is due to several factors, including lower repair and maintenance expenditure of traditional bicycles compared to electric bicycles. In addition, though bicycles have been an easy means of transport, bicycling has been growing as a major sporting and recreational activity, particularly in the women category, in recent decades.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Germany bicycle market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Accell Group
• Dorel Industries Inc.
• SCOTT Sports SA
• Specialized Bicycle Components, Inc.
• Avon Cycles Ltd.
• Giant Bicycles
• Trek Bicycle Corporation
• Merida Industry Co., Ltd
• Others

Key Target Audience

•   Market Players
•   Investors
•   End-users
•   Government Authorities 
•   Consulting and Research Firm
•   Venture capitalists
•   Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Germany regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Germany bicycle market based on the below-mentioned segments:

Germany Bicycle Market, By Product

• Mountain
• Hybrid
• Road
• Cargo

Germany Bicycle Market, By Technology 

• Electric
• Conventional