Market Trends of Asia-Pacific Bicycle Industry
This section covers the major market trends shaping the APAC Bicycle Market according to our research experts:
Continuation of Increasing Demand for Bicycles in India
Cycling is and has been a major mode of mobility in India. These days, due to an increase in pollution and health reasons, people are opting to use bicycles instead of cars and bikes. Additionally, cycling sports are also gaining popularity among all the generations in India. The government and the Cycling Federation of India are launching new cycle races and championships to promote the use of bicycles. For instance, in December 2022, the Cycling Federation of India announced its 27th senior, junior, and sub-junior road cycling championship. The championship is supposed to be in January 2023 at Sinner, Nasik, Maharashtra. Furthermore, due to adult and child obesity in India, the demand for cycles is increased as it helps in weight loss. Considering the demand for products, foreign companies are launching their products in the Indian market. For instance, in February 2022, New Zealand Bicycle brand Avanti entered the Indian market in association with Scott Sports India and launched the Avanti Giro FM1 bike. The bike is made for men, women, and kids.
Increasing Inclination Toward E-Bicyles
E-bicycle features an electric motor to power, which has taken off over the last few years with numerous models available in the market, produced by various regional and global manufacturers. Moreover, there has been a continuous focus on innovation in the e-bikes segment by the major manufacturers. E-bikes are being launched and sold in the market in different types, such as e-mountain bicycles, e-road bikes, and e-hybrid bikes. E-mountain bikes are bicycles with electric motors. For instance, in January 2022, Lifestyle e-mobility startup VAAN Electric Moto Pvt. Ltd launched its all-new electric bicycle in India. The e-bike is available in two variants - Urbansport and Urbansport Pro.
