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30 Jan 2024

A North Yorkshire cycle shop, which has become one of the largest bike businesses in the area, is celebrating its fifteenth anniversary.

30 Jan 2024

For our latest retailer profile, we spoke with Dallas Wiseman from BikeWise & Run, a Ceredigion-based bike shop that has become a hub for cyclists in the region.

30 Jan 2024

New data from market research firm Mintel suggests the UK bicycle market could on the road to recovery, with sales of new bikes set to reach almost £1 billion this year.
Mintel...

25 Jan 2024

With more than 500 cycle businesses having now signed up to its campaign for change to the Cycle to Work scheme, a delegation from the Association of Cycle Traders has met with All Party...

24 Jan 2024

The Office for Product Safety and Standards (OPSS) is taking enforcement action and warning consumers about a brand of e-bike battery – UPP – that has been linked to a number of...

16 Jan 2024

Walton Street Cycles, one of Oxford’s oldest bike shops, has been trading in the city since 1975.
 

16 Jan 2024

ACT Gold Member ICE Trikes has announced a new partnership announcement with British Cycling’s Limitless disability and para-cycling programme. This partnership will help to support the...

15 Jan 2024

An interesting article has appeared in Forbes reflecting many of the issues that ACT members will be experiencing – the challenges and opportunities that are currently...

15 Jan 2024

The Guardian has reported that ministers decided to prioritise driving over active travel because of worries about “15-minute cities”.

15 Jan 2024

Go Outdoors, which operates 75 stores across the UK, has announced an apprenticeship scheme involving Cytech training with the aim of addressing what it terms a nationwide shortage of...

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Global Bicycle Market Forecast to reach $130 billion by 2033

Posted on in Business News , Cycles News

New research from Research Nester has forecast that between now and 2033, the global bicycle market could reach an estimated value of approximately $130 billion, by expanding at a compound annual growth rate of around 7%. The market has generated revenue of approximately $80 billion this year. Major key factors propelling the growth of the market worldwide are cited as the higher number of people becoming aware of the benefits of cycling and the growing infrastructure of bicycle manufacturing.

City Cycling Woman

The growth of the global market can be attributed to the launch of several advanced bicycles by major players as well as a more general rise in the number of bicycles available in the market. According to estimates, there were more than 2 billion bicycles in use worldwide in 2015, and by 2050, that number is expected to rise to close to 5 billion. In addition, mountain bikes are predicted to be produced more than 72 million units by 2026, from an estimated 44 million units in 2020.

Out of all, the increasing popularity of electric bikes is expected to be the sector that generates the highest revenue by the end of 2033. In 2019, for example, around 288,000 electric bikes were sold in the United States, compared to nearly 437,000 in 2020.

The global bicycle market is also estimated to grow majorly on account of the following:

•    Rising demand for bicycles

•    Rise in the development of cycling manufacturing

•    Initiatives taken for riding bicycles

•    New product launches by key market players

•    Awareness of the health benefits associated with the bicycle riding

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