The Latin America, Middle East and Africa Bicycle Market would witness market growth of 9.0% CAGR during the forecast period (2021-2027).
Consumers can now ride, while, maintaining social distance, and satisfying their social interaction needs among like-minded individuals, family, and friends. Consumers are also demanding distinct and enhanced experiences while maintaining their physical and mental wellbeing. Cycling satisfies this requirement by offering a healthy and safe exercise to people. Due to this, consumers would place a high value on cycling along with its intellectual, emotional, mental, and physical benefits. Cycling is becoming safer, socially acceptable, convenient, a reliable mode of personal mobility, more people are being encouraged to utilize a bicycle as their day-to-day commute.
Over the long term, the market analyzed is likely to be driven by an expanding number of cycling events as well as favorable government and employer initiatives. Moreover, different regulatory bodies in numerous countries encourage road racing, touring, and leisure cycling, as well as track racing, off-road racing, and mountain cycling events. These factors would significantly shift consumers' interest toward cycling in order to participate in such events
The growing import volume for bikes in various countries such as Argentina and Columbia is driving the South American market. This is anticipated to boost the consumption rate of bicycles in the region. According to data provided by the Dutch Ministry of Foreign Affairs, 22.13 million bicycles were imported into Argentina in 2018, up from 17.09 million in 2017. To minimize air pollution from four-wheeler carbon emissions, Brazilian customers pick walking and bike paddling as their usual commuting options over cars. This would certainly increase demand for paddle cycles among these customers.
In addition, the growing popularity of folding electric paddle bikes among the general public is also a major factor that is encouraging manufacturers to manufacture new and advanced bicycles, while to bring enhancements in the prevailing technology. Meanwhile, demand for mountain and road bicycles is being fueled by an increase in bicycling competitions being held in nations across Africa, as well as the Middle East. Hence, the growth of the regional market is anticipated to spur during the forecast period.
The Brazil market dominated the LAMEA Bicycle Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,812.2 Million by 2027. The Argentina market is anticipated to grow at a CAGR of 9.5% during (2021 - 2027). Additionally, The UAE market would showcase a CAGR of 8.7% during (2021 - 2027).
Based on Technology, the market is segmented into Conventional and Electric. Based on End User, the market is segmented into Men, Women, and Kids. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product, the market is segmented into Road, Mountain, Hybrid, Cargo, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Bicycle Market is Predict to reach $93.5 Billion by 2027, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Giant Manufacturing Co. Ltd., Cervélo (Pon Holdings BV), SCOTT Sports SA, Merida Industry Co., Ltd., and Specialized Bicycle Components, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Technology
By End User
By Distribution Channel
By Product
- Road
- Mountain
- Hybrid
- Cargo
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Accell Group
- Giant Manufacturing Co. Ltd.
- Cervélo (Pon Holdings BV)
- SCOTT Sports SA
- Merida Industry Co., Ltd.
- Specialized Bicycle Components, Inc.
TABLE 1 LAMEA Bicycle Market, 2017 - 2020, USD Million
TABLE 2 LAMEA Bicycle Market, 2021 - 2027, USD Million
TABLE 3 LAMEA Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 4 LAMEA Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 5 LAMEA Conventional Market by Country, 2017 - 2020, USD Million
TABLE 6 LAMEA Conventional Market by Country, 2021 - 2027, USD Million
TABLE 7 LAMEA Electric Market by Country, 2017 - 2020, USD Million
TABLE 8 LAMEA Electric Market by Country, 2021 - 2027, USD Million
TABLE 9 LAMEA Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 10 LAMEA Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 11 LAMEA Men Market by Country, 2017 - 2020, USD Million
TABLE 12 LAMEA Men Market by Country, 2021 - 2027, USD Million
TABLE 13 LAMEA Women Market by Country, 2017 - 2020, USD Million
TABLE 14 LAMEA Women Market by Country, 2021 - 2027, USD Million
TABLE 15 LAMEA Kids Market by Country, 2017 - 2020, USD Million
TABLE 16 LAMEA Kids Market by Country, 2021 - 2027, USD Million
TABLE 17 LAMEA Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 18 LAMEA Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 19 LAMEA Offline Market by Country, 2017 - 2020, USD Million
TABLE 20 LAMEA Offline Market by Country, 2021 - 2027, USD Million
TABLE 21 LAMEA Online Market by Country, 2017 - 2020, USD Million
TABLE 22 LAMEA Online Market by Country, 2021 - 2027, USD Million
TABLE 23 LAMEA Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 24 LAMEA Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 25 LAMEA Road Market by Country, 2017 - 2020, USD Million
TABLE 26 LAMEA Road Market by Country, 2021 - 2027, USD Million
TABLE 27 LAMEA Mountain Market by Country, 2017 - 2020, USD Million
TABLE 28 LAMEA Mountain Market by Country, 2021 - 2027, USD Million
TABLE 29 LAMEA Hybrid Market by Country, 2017 - 2020, USD Million
TABLE 30 LAMEA Hybrid Market by Country, 2021 - 2027, USD Million
TABLE 31 LAMEA Cargo Market by Country, 2017 - 2020, USD Million
TABLE 32 LAMEA Cargo Market by Country, 2021 - 2027, USD Million
TABLE 33 LAMEA Others Market by Country, 2017 - 2020, USD Million
TABLE 34 LAMEA Others Market by Country, 2021 - 2027, USD Million
TABLE 35 LAMEA Bicycle Market by Country, 2017 - 2020, USD Million
TABLE 36 LAMEA Bicycle Market by Country, 2021 - 2027, USD Million
TABLE 37 Brazil Bicycle Market, 2017 - 2020, USD Million
TABLE 38 Brazil Bicycle Market, 2021 - 2027, USD Million
TABLE 39 Brazil Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 40 Brazil Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 41 Brazil Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 42 Brazil Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 43 Brazil Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 44 Brazil Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 45 Brazil Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 46 Brazil Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 47 Argentina Bicycle Market, 2017 - 2020, USD Million
TABLE 48 Argentina Bicycle Market, 2021 - 2027, USD Million
TABLE 49 Argentina Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 50 Argentina Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 51 Argentina Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 52 Argentina Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 53 Argentina Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 54 Argentina Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 55 Argentina Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 56 Argentina Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 57 UAE Bicycle Market, 2017 - 2020, USD Million
TABLE 58 UAE Bicycle Market, 2021 - 2027, USD Million
TABLE 59 UAE Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 60 UAE Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 61 UAE Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 62 UAE Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 63 UAE Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 64 UAE Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 65 UAE Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 66 UAE Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 67 Saudi Arabia Bicycle Market, 2017 - 2020, USD Million
TABLE 68 Saudi Arabia Bicycle Market, 2021 - 2027, USD Million
TABLE 69 Saudi Arabia Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 70 Saudi Arabia Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 71 Saudi Arabia Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 72 Saudi Arabia Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 73 Saudi Arabia Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 74 Saudi Arabia Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 75 Saudi Arabia Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 76 Saudi Arabia Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 77 South Africa Bicycle Market, 2017 - 2020, USD Million
TABLE 78 South Africa Bicycle Market, 2021 - 2027, USD Million
TABLE 79 South Africa Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 80 South Africa Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 81 South Africa Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 82 South Africa Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 83 South Africa Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 84 South Africa Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 85 South Africa Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 86 South Africa Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 87 Nigeria Bicycle Market, 2017 - 2020, USD Million
TABLE 88 Nigeria Bicycle Market, 2021 - 2027, USD Million
TABLE 89 Nigeria Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 90 Nigeria Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 91 Nigeria Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 92 Nigeria Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 93 Nigeria Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 94 Nigeria Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 95 Nigeria Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 96 Nigeria Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 97 Rest of LAMEA Bicycle Market, 2017 - 2020, USD Million
TABLE 98 Rest of LAMEA Bicycle Market, 2021 - 2027, USD Million
TABLE 99 Rest of LAMEA Bicycle Market by Technology, 2017 - 2020, USD Million
TABLE 100 Rest of LAMEA Bicycle Market by Technology, 2021 - 2027, USD Million
TABLE 101 Rest of LAMEA Bicycle Market by End-user, 2017 - 2020, USD Million
TABLE 102 Rest of LAMEA Bicycle Market by End-user, 2021 - 2027, USD Million
TABLE 103 Rest of LAMEA Bicycle Market by Distribution Channel, 2017 - 2020, USD Million
TABLE 104 Rest of LAMEA Bicycle Market by Distribution Channel, 2021 - 2027, USD Million
TABLE 105 Rest of LAMEA Bicycle Market by Product, 2017 - 2020, USD Million
TABLE 106 Rest of LAMEA Bicycle Market by Product, 2021 - 2027, USD Million
TABLE 107 key information – Accell Group
TABLE 108 Key Information – Giant Manufacturing Co. Ltd.
TABLE 109 Key Information – Cervélo
TABLE 110 Key information – SCOTT Sports SA
TABLE 111 Key Information – Merida Industry Co., Ltd.
TABLE 112 Key Information – Specialized Bicycle Components, Inc.
List of Figures
FIG 1 Methodology for the research