India Bicycle Market Research Report, 2029

In India, bicycles are often viewed as a practical and affordable mode of transportation, particularly in urban and semi-urban areas. The perception of bicycles varies across different cities, with some metropolitan hubs like Delhi, Mumbai, and Bengaluru seeing them as a common sight on the roads, used by a diverse range of commuters. In contrast, smaller cities and towns may have a stronger cultural association with bicycles, which are seen as a reliable and efficient way to navigate narrow streets and congested traffic. The term "bicycle" itself is derived from the Greek words "bi" meaning two and "kyklos" meaning wheel, highlighting the simple yet ingenious design that has made these vehicles an integral part of India's transportation landscape for generations. According to the research report "India Bicycle Market Research Report, 2029," published by Actual Market Research, the India Bicycle market is anticipated to grow at more than 8.73% CAGR from 2024 to 2029. Beyond their practical utility, bicycles also offer numerous benefits to both individuals and the wider community. They provide a eco-friendly and cost-effective alternative to motorized vehicles, reducing carbon emissions and easing the strain on public infrastructure. Cycling also promotes a healthier and more active lifestyle, offering physical exercise and cardiovascular benefits to riders. The growing popularity of bicycles in India can be attributed to several factors, including increased awareness of environmental sustainability, rising fuel prices, and government initiatives to encourage non-motorized transport. As the country continues to urbanize and grapple with the challenges of congestion and pollution, the bicycle market is poised to expand further, catering to the diverse needs and preferences of India's dynamic population.

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The Indian bicycle market is diverse, featuring several segments, with road bikes and e-bikes emerging as the largest categories. Road bikes are gaining popularity among cycling enthusiasts and fitness aficionados, particularly in urban areas where cycling clubs and events are on the rise. Their lightweight design and aerodynamic features cater to those seeking speed and performance. E-bikes are also experiencing significant growth, driven by increasing urban congestion and a growing emphasis on sustainable transportation. They provide an efficient solution for commuters, making cycling more accessible to a wider audience, including those who may prefer assistance on longer journeys. Mountain bikes remain popular among adventure seekers who enjoy off-road trails, while hybrid bikes offer versatility for both city commuting and recreational riding. In the Indian bicycle market, segmentation by end user includes men, women, and kids, with men holding the largest share due to their strong engagement in cycling activities. This segment is driven by a growing interest in fitness, commuting, and recreational cycling, particularly among younger demographics. The women's segment is also expanding as more women embrace cycling for health and leisure, supported by initiatives promoting cycling as a safe and enjoyable activity. Additionally, the market is categorized by biker types into highly engaged, engaged, leisure, and travel bikers. Among these categories, leisure bikers represent a significant portion of the market, as they prioritize comfort and enjoyment during their rides. Notably, men and leisure bikers have the highest market share inter-segmentally, indicating a strong preference for bicycles that cater to relaxed yet active lifestyles. This evolving landscape highlights the increasing acceptance of cycling in India as both a practical mode of transportation and a popular recreational activity, driven by rising health consciousness and environmental awareness. The Indian bicycle market is segmented by technology type into Electric and Conventional. While conventional bicycles have been a staple in India for decades, electric bikes are emerging as a popular choice, particularly in urban areas. E-bikes offer several advantages, such as reduced physical exertion, increased range, and the ability to navigate traffic congestion. However, factors such as high initial costs and limited charging infrastructure may hinder the widespread adoption of e-bikes. Despite these challenges, the Indian e-bike market is growing steadily, driven by increasing environmental concerns, rising fuel prices, and the government's push for sustainable transportation.

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Rahul Jagtap

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COVID-19 Impact: The market for bicycles was greatly disrupted by the COVID-19 outbreak. Bike riding became popular as a safe, healthful, and eco-friendly way to exercise and travel during lockdowns and social distancing measures. This resulted in an increase in demand, especially for recreational and commuter bicycles. Furthermore, the epidemic hastened the construction of bicycle infrastructure in numerous cities, increasing the accessibility and convenience of cycling. The pandemic's long-term effects on the bicycle market are probably going to be favorable, with a steady rise in cycling participation and a shift towards healthier and more sustainable lives, notwithstanding the difficulties caused by supply chain interruptions. Considered in this report • Geography: India • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • India Bicycle market with its value and forecast along with its segments • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation By Type • Road Bikes • Mountain Bikes • Hybrid Bikes • E-bikes • others By End User • Men • Women • Kids By Bikers Type • Highly Engaged • Engaged • Leisure • Travel By Technology Type •Electric •Conventional The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to bicycle products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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