USD 1.31 billion growth in Hybrid Bicycles Market | 17,000+ Technavio Reports

NEW YORK, Feb. 8, 2022 -- The hybrid bicycles market size will grow by USD 1.31 billion from 2020 to 2025, as per the latest report from Technavio. The report also identifies the market to witness an accelerating CAGR of 4.79% during the forecast period. This report also offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Hybrid Bicycles Market 2021-2025: Driver and Challenge Analysis

Rapid development in cycling infrastructure is one of the key factors driving the global hybrid bicycles market growth. There has been a significant increase in the adoption of hybrid bicycles in countries in APAC (China and Singapore), the US, and Western Europe owing to the features of hybrid cycles such as the better balance of control and speed on roads compared with mountain bikes and road bikes. Consumers across the globe are shifting from motor vehicles to bicycles as these are feasible modes of city transport. Moreover, improved cycling infrastructure with dedicated bicycle lanes, crossings, bicycle racks, and adequate lighting facilities for bicycle lanes will also facilitate the growth of the global hybrid bicycles market during the forecast period.

The fluctuation in raw material prices such as aluminum, steel, and rubber is one of the key challenges to the global hybrid bicycles market growth. The high cost of raw materials used in the production of hybrid bicycles will increase the total cost of manufacturing and reduce the profit margins of vendors. In addition, the imposition of trade tariffs on the import of bicycles and parts, by the US and other countries is expected to hamper the growth of the market in focus during the forecast period.

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Hybrid Bicycles Market 2021-2025: Segmentation Analysis

• Distribution Channel
• Offline
• Online
• Geography
• APAC
• Europe
• North America
• South America
• MEA

The offline distribution channel segment held the largest hybrid bicycle market share in 2020. The segment will continue to account for the highest share throughout the forecast period. The offline segment includes specialty stores, sporting goods retailers, and other offline distributors that attract customers owing to their large product portfolio, multiple brands, and knowledgeable customer service personnel who can give them product-related information.

In terms of Geography, APAC emerged as the largest revenue-generating regional segment of this market. APAC has seen a substantial surge in the use of hybrid bicycles. China is one of the world's top producers and exporters of hybrid bicycles in the recent years. Factors such as improved cycling infrastructure and growing consumer awareness about environmental pollution and a healthy lifestyle have resulted in a steady consumer transition from autos to hybrid cycles, in turn, leading the region to contribute over 46% of the overall market growth during the forecast period. China and Japan are the key markets for hybrid bicycles in APAC.

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Hybrid Bicycles Market 2021-2025: Scope and Vendor Analysis and

The report also covers the following areas:

• Hybrid Bicycles Market size
• Hybrid Bicycles Market trends
• Hybrid Bicycles Market industry analysis

The hybrid bicycles market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Some of the major vendors of the hybrid bicycles market include Accell Group NV, Firefox Bikes, Fuji Bikes, Giant Manufacturing Co. Ltd., Halfords Group plc, MONTRA, Raleigh America, SCOTT Sports SA, Specialized Bicycle Components Inc., and Tata International Ltd. Vendors are offering innovative products and launching unique market strategies to stay up in the game and strengthen their position in the market. 

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Hybrid Bicycles Market 2021-2025: Key Highlights

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist hybrid bicycles market growth during the next five years
• Estimation of the hybrid bicycles market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the hybrid bicycles market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hybrid bicycles market vendors

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