Global High-End Bicycle Market 2017-2021
About High-End Bicycle
High-end bikes are high-speed bikes that are built with advanced technology and modern designs incorporating high-quality materials to offer comfort and durability. These bikes are priced over $1000. Their penetration rate among price-sensitive consumers is low. High-end bikes are targeted at premium customers. Cycling enthusiasts, adventure seekers, and urban commuters are the key customers who drive the global high-end bicycle market.
Technavio’s analysts forecast the global high-end bicycle market to grow at a CAGR of 4.82% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global high-end bicycle market for 2017-2021. To calculate the market size, the report considers the sales/value and exclude services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global High-End Bicycle Market 2017-2021
Technavio recognizes the following companies as the key players in the global high-end bicycle market: Derby Cycle, Giant Bicycle, MERIDA, Specialized Bicycle Components, and Trek Bicycle
Other Prominent Vendors in the market are: Bianchi, CYCLING SPORTS GROUP, DAHON, Kona, Marin Bikes, Pacific Cycles, Samchuly Bicycle, Santa Cruz Bicycles, SCOTT Sports, and XDS BICYCLES.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Smart features in high-end bikes. To boost sales, the existing vendors in the global high-end bicycle market are increasingly focusing on incorporating smart features to the existing brands. Argon 18 is a high-end bike that qualifies as a smart bike. It comprises 30 aerodynamic sensors. It calculates muscle oxygenation levels, lactic acid levels, and heart-rate variations. It is incorporated with ANT+ technology that equips a Bluetooth device to enable the global positioning system (GPS) tracking facility. The pressure exerted on various parts of the saddle during long endurance rides can also be measured. Vendors plan to launch multiple varieties of the same bike with variations in size, structure, weights, and size of wheels. Vendors, of late, are investing in custom-made bike accessories and protective gear.”
According to the report, one of the major drivers for this market is Increasing demand for luxury products among affluent consumers. Consumers in developed economies prefer high-end bikes that are more expensive than the ordinary ones. Consumers from the high-income category are drifting from mainstream luxury items to high-end bikes and automobiles. Manufacturers in the global high-end bicycle market are tapping on the increasing demand for luxury among affluent consumers and introducing designs with stylish logos and brand symbols. Customized bikes that are elite-looking are sought-after by the target consumers of the market. Attractive bike saddles with alligator skin and 24-carat gold-plated frames are in vogue in the global high-end bicycle market.
Further, the report states that one of the major factors hindering the growth of this market is Increase in motor vehicular population. Over the last few decades, there has been a significant increase in the adoption of motorcycles. The demand for motorcycles is stimulated by increased income levels and rising standards of living of the global population base. Scooters and mopeds are currently available at lower prices when compared to high-end bicycles. Their demand is backed by easy maneuverability in congested areas. Gearless and light vehicles such as Vespa and Activa cater to the female customer segment as well. The advent of motor vehicles, therefore, pose a major challenge to the global high-end bicycle market.
Derby Cycle, Giant Bicycle, MERIDA, Specialized Bicycle Components, Trek Bicycle, Bianchi, CYCLING SPORTS GROUP, DAHON, Kona, Marin Bikes, Pacific Cycles, Samchuly Bicycle, Santa Cruz Bicycles, SCOTT Sports, and XDS BICYCLES.