What is Global Road Bikes Market?
The Global Road Bikes Market is a vast and dynamic sector that encompasses a variety of bike types used worldwide. These bikes, designed for use on paved roads, are a popular choice for both professional cyclists and everyday commuters. The market's value was estimated at US$ 4181.4 million in 2022, and it is projected to grow to US$ 4550.1 million by 2029, with a compound annual growth rate (CAGR) of 1.2% during the forecast period from 2023 to 2029.
Aluminum Road Bike, Carbon Fiber Road Bike, Others in the Global Road Bikes Market:
The Global Road Bikes Market is segmented into different types based on the material used in their construction. These include Aluminum Road Bikes, Carbon Fiber Road Bikes, and others. Aluminum Road Bikes are the most popular, accounting for over 70% of the market. They are favored for their lightweight and durable nature, which makes them ideal for long-distance cycling and racing. Carbon Fiber Road Bikes, on the other hand, are known for their exceptional strength and stiffness, making them a preferred choice for professional cyclists. The 'Others' category includes bikes made from materials like steel and titanium. Each of these bike types caters to different user needs and preferences, contributing to the diversity and growth of the Global Road Bikes Market.
Transportation Tools, Racing in the Global Road Bikes Market:
The Global Road Bikes Market serves two primary areas: Transportation Tools and Racing. Road bikes are widely used as a mode of transportation in many parts of the world. They offer an eco-friendly and cost-effective alternative to motor vehicles, especially in urban areas where traffic congestion is a common issue. In addition to transportation, road bikes are also extensively used in racing events. These bikes are designed for speed and performance, making them ideal for competitive cycling. The use of road bikes in these two areas significantly contributes to the overall growth of the Global Road Bikes Market.
Global Road Bikes Market Outlook:
To rephrase the market outlook, the Global Road Bikes Market, valued at US$ 4181.4 million in 2022, is expected to increase to US$ 4550.1 million by 2029. This growth represents a CAGR of 1.2% during the forecast period of 2023-2029. The market is dominated by four major manufacturers who collectively hold a market share of over 35%. In terms of product segmentation, Aluminum Road Bikes lead the market with a commanding share of over 70%.
| Report Metric | Details |
| Report Name | Road Bikes Market |
| Accounted market size in 2023 | US$ 4235.8 million |
| Forecasted market size in 2029 | US$ 4550.1 million |
| CAGR | 1.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Giant, Trek, Merida, Scott Sports, Accell Group, Fuji Bikes, Specialized, Dorel Industries, Cube, Grimaldi Industri, Derby Cycle, Hero Cycles, Look Cycle, Xidesheng Bicycle, Shanghai Phoenix, KHS, Trinx Bikes, Atlas Cycles, Laux Bike, Cannondale, LOOK |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
