Increasing support of internet of things fuels the growth of the Global Two-Rider Bicycle Market.
According to TechSci Research report, “Two-Rider Bicycle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”. Global two-rider bicycle market is anticipated to hold an impressive CAGR for the future growth during the forecast years, on the account of growing demand for eco-friendly commuting vehicles. Growing concerns regarding depletion of environment also facilitates the growth of the global two-rider bicycle market in the upcoming five years. Factors like rapid urbanization, expanding automotive industry, growing vehicle fleets, and various environmental issues drive the growth of the global two-rider bicycle market in the upcoming five years. Market growth can also be attributed to growing advancement in the automotives that either don’t use any fuel or are considered ecological. Rising demands for the recreational activities and concerns for the poor health also substantiates the growth of the global two-rider bicycle market in the future five years. Although the governments have made stringent regulations toward consumption of fuel and exhaustive gases emitting from the automobiles, this has led to the consumers’ inclination toward bicycles and other green vehicles. These factors are further aiding to the growth of the global two-rider bicycle market in the forecast years.
Due to the COVID-19 pandemic, the automotive industry suffered drastically. Although various other industries were affected, automotive industry also faced disruptions due to restricted distribution channels and lack of import and export of the vehicles. With the relaxation in the rules and regulations, the industry is soon anticipated to regain its composure. With the effective precautionary steps, the products & services are back on road and the consumers have resumed the usage, thus substantiating the growth of the global two-rider bicycle market in the forecast period through 2027.
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The global two-rider bicycle market segmentation is based on propulsion, application, distribution channel, regional distribution, and competitive landscape. Based on propulsion, the market is differentiated between conventional and electric. Conventional propulsion is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of less repair and maintenance cost of conventional propulsions of the bicycles as compared to electric propulsion of the bicycles. Moreover, while the bicycle has been a convenient mode of transport, bicycling has been emerging as a leading sporting and leisure activity, especially in the women segment over the past few decades. Electric propulsion may also register significant growth in the future five years due to increasing influences of the electric vehicles in the market and rising concerns of the population over saving the environment.
By application, the market is fragmented into mountaineering, recreational, and conveyance. Mountaineering applications re anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to growing inclination of the younger generation toward the sports and rising events and races related to the mountaineering. Furthermore, the number of women and kids entering sports is increasing steadily and is likely to influence the segment growth. The establishment of new mountain bicycling circuits, coupled with the growing media coverage for such events, is expected to fuel the growth of the global two-rider bicycle market in the future five years. Based on distribution channel, the market is distinguished between offline and online. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European & CIS region, South American region, and Middle East & African region.
Some of the market players, dominating the global two-rider bicycle market are :
- Cycling Sports Group, Inc.
- Co-Motion Cycles.
- da Vinci Tandem
- Kinethic Bikes
- Privacyverklaring Accell Nederland BV (KOGA)
- Santana Cycles
- Hase Spezialräder (Hase Bikes)
- Cannondale Bicycle Corporation
- Ritchey International SAGL
- Seven Cycles, Inc.
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“North America is anticipated to hold the largest market for the two-rider bicycle in the future years owing to the increasing advancement in the technology and growing recreational and leisure bicycling activities demands. The economies like the United States and Canada with higher instances of on-road traffic are expected to support the regional growth in the future five years. Asia Pacific region may also hold significant growth due to rising population in the countries like India, China, South Korea, etc. Rising disposable income among the population and their tendencies to spend lavishly over recreational activities also facilitates the market growth in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Two-Rider Bicycle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Propulsion (Conventional, Electric), By Application (Mountaineering, Recreational, Conveyance), By Distribution Channel (Offline, Online), By Region”, has evaluated the future growth potential of global two-rider bicycle and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global two-rider bicycle market.
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