Women's Bicycle Demand to Witness Noteworthy Growth at 5.4% CAGR; Owing to Rise in Adoption of Sustainable Modes of Transportation: Transparency Market Research

WILMINGTON, DE / ACCESSWIRE / June 15, 2023 / The women's bicycle market was valued at US$ 7.8 Bn in 2022 and is projected to reach US$ 13.2 Bn by 2031, expanding at a CAGR of 5.4% from 2023 to 2031. Surge in awareness about health and fitness benefits of cycling is anticipated to bolster the demand for women's bicycle around the globe.

Significant increase in participation of women in road cycling racing events in numerous countries is expected to spur market growth in the next few years. Rapid increase in focus toward women empowerment is positively influencing the dynamics of the women's bicycle market. Sports such as cycling promote gender equality and inclusion.

Considerable rise in popularity of cycling in urban commuting is expected to broaden the market outlook. Governments of several countries in Europe and North America are encouraging environmental-friendly modes of transportation and emission-free micro-mobility by strengthening the road infrastructure. An instance is increase in number of safe pop-up bike lanes in cities to support cycling.

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Market Snapshot:

Key Findings of Study

• Rise in Adoption of Hybrid Bikes: Based on type, the hybrid bike segment[R1] accounted for the leading market share in 2022 and is anticipated to dominate from 2023 to 2031. Hybrid bikes are gaining traction among women, as these are combination[R2] of features of road bikes, touring bikes, and mountain bikes. Rapid utilization of hybrid bikes among women for fun, fitness, and recreation is therefore likely to fuel the segment.
• Surge in Demand for Women's Bicycle in Commercial Institutions: Considerable demand for women's bikes in commercial institutions, especially in the food service industry, is expected to accelerate market development. For instance, women's bicycles are significantly used for food delivery by fast food restaurants and for last mile delivery of parcels[R3]. Bicycles are being preferred over motorized vehicles for these transportations[R4] to avoid traffic congestion and reduce carbon emissions of urban logistics. Rise in participation of women in food delivery services is likely to bolster the adoption of bicycles.

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Key Growth Drivers: Women's Bicycle Market

• Rise in participation of women in cycling for fun, recreation, and fitness is a key driver of the women's bicycle market. Cycling constitutes a significant percentage of overall women's sports participation and is anticipated to grow further, strengthened by constant efforts in the society to promote gender equality.
• Surge in adoption of cycling as a sustainable mode of transport, especially in urban areas, is a key driver of the women's bicycle market. Considerable efforts by governments to design safe city roads for cyclist are expected to stimulate the demand for women's bicycles.

Regional Growth Dynamics

North America accounted for major share of the global market from 2023 to 2031. Rapid increase in participation of women in cycling and significant efforts by community programs to promote women's cycling events in the U.S. are anticipated to fuel the market in North America. Surge in adoption of sustainable modes of transportation is expected to boost the market in the U.S.

The USA Cycling Women's athlete programming[R5] is an instance of development programs to support women's cycling. Introduction of bicycle with consideration of women's specific frame geometry is expected to augment the market size in North America. Recent market trends that indicate such programs are expected to bolster the commercialization of women's bicycles in the region.

Competition Landscape

The business landscape is highly fragmented, with the presence of a large number of regional, global, and local players. Key companies are focusing on new product development to cater to the latest consumer preferences and trends in terms of new designs and functionalities. Leading players are focusing on launching environmental-friendly cycles at affordable prices to consolidate their position and expand their customer base.

Prominent companies in the women's bicycle market are

• Hero Cycles
• Giant Bicycles
• Trek Bikes
• Dorel Industries
• Atlas Cycles
• Accell Group
• Merida
• Halfords
• Samchuly Bicycle
• BSA Ladybird Cycles

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Women's Bicycle Market Segmentation

The women's bicycle market is segmented based on

Type

• Hybrid Bikes
• Cruiser Bikes
• Electric Bikes
• Others (Urban Bikes, Folding Bikes, etc.)

Price

• Low
• Medium
• High

Application

• Household
• Commercial

Distribution Channel

• Online
• E-commerce Websites
• Company-owned Websites
• Offline
• Specialty Stores
• Multi-brand Stores
• Other Retail Stores

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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