Global Hybrid Bicycles Market 2019-2023
SKU ID :TNV-13130128 | Published Date: 18-Feb-2019 | No. of pages: 112Description
About this market
There has been a rapid consumer shift worldwide from motor vehicles to bicycles as a feasible mode of city transport, especially for work commute. Hybrid bicycles offer a better balance of control and speed on roads compared with mountain bikes and road bikes. The betterment of cycling infrastructure with high emphasis on establishing dedicated bicycle lanes, crossings, bicycle racks, and adequate lighting facilities for bicycle lanes have been key drivers for the growth of the global hybrid bicycles market over the last few years. Hence, the rising emphasis on the betterment of cycling infrastructure is expected to boost the growth of the global hybrid bicycles market during the forecast period. analysts have predicted that the hybrid bicycles market will register a CAGR of almost 4% by 2023.
Market Overview
Rise in government initiatives promoting cycling
Owing to growing constraints related to city traffic management, several countries are increasingly encouraging the adoption of cycles as a mode of transport. Hence, the growing support through government initiatives is expected to boost the growth of the global hybrid bicycles market during the forecast period.
Fluctuation in prices of raw materials
The fluctuations in prices of raw materials such as aluminum, steel, and rubber have adversely impacted the production costs and profit margins of hybrid bicycles over the last few years. Hence, with the fluctuations in prices of raw materials, the production costs of hybrid bicycles are expected to increase considerably during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the hybrid bicycles market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
There has been a rapid consumer shift worldwide from motor vehicles to bicycles as a feasible mode of city transport, especially for work commute. Hybrid bicycles offer a better balance of control and speed on roads compared with mountain bikes and road bikes. The betterment of cycling infrastructure with high emphasis on establishing dedicated bicycle lanes, crossings, bicycle racks, and adequate lighting facilities for bicycle lanes have been key drivers for the growth of the global hybrid bicycles market over the last few years. Hence, the rising emphasis on the betterment of cycling infrastructure is expected to boost the growth of the global hybrid bicycles market during the forecast period. analysts have predicted that the hybrid bicycles market will register a CAGR of almost 4% by 2023.
Market Overview
Rise in government initiatives promoting cycling
Owing to growing constraints related to city traffic management, several countries are increasingly encouraging the adoption of cycles as a mode of transport. Hence, the growing support through government initiatives is expected to boost the growth of the global hybrid bicycles market during the forecast period.
Fluctuation in prices of raw materials
The fluctuations in prices of raw materials such as aluminum, steel, and rubber have adversely impacted the production costs and profit margins of hybrid bicycles over the last few years. Hence, with the fluctuations in prices of raw materials, the production costs of hybrid bicycles are expected to increase considerably during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the hybrid bicycles market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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