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India Bicycle Market Report by Type (Road Bicycle, Mountain Bicycle, Hybrid Bicycle, and Others), Technology (Electric, Conventional), Price (Premium, Mid-Range, Low-Range), Distribution Channel (Online Stores, Offline Stores), End User (Men, Women, Kids), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A21825
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Market Overview:
India bicycle market size reached US$ 2.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.30% during 2024-2032. A healthier lifestyle choice for consumers and the rising popularity of eco-friendly modes of transportation are primarily driving the market growth across the country.
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Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
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2023 |
|
Forecast Years
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2024-2032 |
|
Historical Years
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2018-2023
|
| Market Size in 2023 | US$ 2.6 Billion |
| Market Forecast in 2032 | US$ 4.5 Billion |
| Market Growth Rate (2024-2032) | 6.30% |
A bicycle is a human-powered mode of transportation featuring two wheels, pedals, brakes, a seat, a carrier, a drive chain, and a handlebar. Additionally, it contributes to the reduction of anxiety and depression. In line with this, cycling promotes cardiovascular fitness, muscle strength, flexibility, and joint mobility. Riding a bicycle offers various health benefits, including stress reduction, body fat reduction, enhanced posture and coordination, strengthened bones, and the prevention and management of various diseases. Consequently, it is commonly chosen as a favored means of transportation for short distances.
India Bicycle Market Trends:
The bicycle market in India is undergoing a transformative phase, driven by a confluence of factors such as changing lifestyles, a focus on fitness, and increased environmental consciousness. Bicycles, once considered a traditional mode of transportation, are experiencing a resurgence in popularity across the country. This resurgence is not only attributed to their cost-effectiveness but also to the numerous health and environmental benefits they offer. In recent years, there has been a notable shift in consumer behavior towards adopting healthier lifestyles, and bicycles have emerged as a convenient and sustainable choice for commuting and recreational activities. Moreover, the government's initiatives promoting eco-friendly transportation and fitness have further fueled the demand for bicycles. Apart from this, cities are witnessing a growing trend of dedicated cycling lanes and bike-sharing programs, fostering a bicycle-friendly infrastructure. The bicycle market in India is characterized by a diverse range of offerings, including traditional cycles, electric bicycles, and high-performance models catering to different consumer preferences. Electric bicycles, in particular, are gaining traction as a viable solution for urban commuting, offering a blend of pedal power and electric assistance. Besides being an eco-friendly and cost-effective means of transportation, bicycles contribute significantly to addressing health concerns. They offer a low-impact exercise option, aiding in weight management, cardiovascular health, and overall well-being. As the awareness of health and environmental issues continues to rise, the India bicycle market is poised for sustained growth in the coming years.
India Bicycle Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, technology, price, distribution channel, and end user.
Type Insights:
- Road Bicycle
- Mountain Bicycle
- Hybrid Bicycle
- Others
The report has provided a detailed breakup and analysis of the market based on the type. This includes road bicycle, mountain bicycle, hybrid bicycle, and others.
Technology Insights:
- Electric
- Conventional
A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes electric and conventional.
Price Insights:
- Premium
- Mid-Range
- Low-Range
The report has provided a detailed breakup and analysis of the market based on the price. This includes premium, mid-range, and low-range.
Distribution Channel Insights:
- Online Stores
- Offline Stores
A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes online stores and offline stores.
End User Insights:
- Men
- Women
- Kids
The report has provided a detailed breakup and analysis of the market based on the end user. This includes men, women, and kids.
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Bicycle Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Road Bicycle, Mountain Bicycle, Hybrid Bicycle, Others |
| Technologies Covered | Electric, Conventional |
| Prices Covered | Premium, Mid-Range, Low-Range |
| Distribution Channels Covered | Online Stores, Offline Stores |
| End Users Covered | Men, Women, Kids |
| Regions Covered | North India, West and Central India, South India, East and Northeast India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the India bicycle market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India bicycle market?
- What is the breakup of the India bicycle market on the basis of type?
- What is the breakup of the India bicycle market on the basis of technology?
- What is the breakup of the India bicycle market on the basis of price?
- What is the breakup of the India bicycle market on the basis of distribution channel?
- What is the breakup of the India bicycle market on the basis of end user?
- What are the various stages in the value chain of the India bicycle market?
- What are the key driving factors and challenges in the India bicycle?
- What is the structure of the India bicycle market and who are the key players?
- What is the degree of competition in the India bicycle market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India bicycle market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the India bicycle market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India bicycle industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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