A bicycle is a useful vehicle that helps to reach a destination without polluting the environment. Switching to walking or cycling for more of our shorter journeys helps to protect biodiversity. It creates less noise, less air pollution, and results in fewer emissions that are warming the atmosphere. From the research, it has been found that cycling to work is linked with a 45 per cent lower risk of developing cancer and a 46 per cent lower risk of cardiovascular disease, compared to commuting by car or public transport. Also, a surge in oil prices and the need to conserve natural resources are expected to drive the market for bicycles. More people around the world are choosing to pedal shorter distances to save on oil and fuel. Furthermore, riding a bicycle does not require a license, making it a healthy, inexpensive, and accessible mode of transportation for everybody.
According to the report, "Mexico Bicycle Market Research Report, 2027" published by Actual Market Research (ActualMR), the market is anticipated to witness prominent market growth during the upcoming timeframe. Continuously mounting demand for faster and cleaner modes of transportation is creating new opportunities for bicycle manufacturers across the country as the pollution created by emissions from gasoline-powered automobiles has reached new heights. In the meantime, green solution suppliers and manufacturers have seen this as an opportunity. Bicycle manufacturing companies present in the country are taking advantage of these circumstances to expand and grow their business. In addition to that, the bicycle market's growth is also driven by a rise in disposable income and a surge in consumer spending on the industry.
Further, increased demand for bicycles as a handy mode of transportation to maintain a healthy lifestyle free of overweight and other illnesses is predicted to fuel future growth in the market. As a result, dockless bicycle-sharing systems, which do not need a docking station, are becoming more popular. Using this method, users may detect a bicycle in their immediate vicinity and electrically unlock it. On the other hand, electric bicycles, or e-bikes, have the highest potential for growth and will register an absolute incremental opportunity during the forecast period of 2022-2027 across the country. Electric cycles have emerged as the most convenient option for local commutes, which will drive the bicycle sector due to their numerous advantages. Electric bicycles, also referred to as pedelecs, provide a faster commute than traditional bicycles, and they also require less human effort to ride, overcoming one of the major disadvantages of traditional cycles.
According to the report, the Mexico bicycle market is segmented into various types of bicycles, including road bikes, mountain bikes, hybrid bikes, and electric bikes. Among these types, e-bikes are projected to acquire a higher market share in 2021 and are expected to continue this growth. Further, the market is categorized into three end users, including men, women, and kids. The men's segment holds a major share of the market as the male population is more inclined towards biking and cycling than other segments. Additionally, men's growing inclination towards hiking and leisure activities is further driving the segmental growth. On the other hand, the kids & women segment is expected to showcase considerable growth during the forecast period owing to the increasing trend of holiday bicycling among households across the country. Based on the biker’s type, the market is segmented into four types, such as highly engaged, engaged, leisure, and travel. Among these types, leisure is anticipated to witness higher market growth by 2027 in the Mexico bicycle market.
Strong consumer demand for various kinds of exercise-related items such as indoor and outdoor bikes, dumbbells, rowers, and other gym equipment to maintain health and fitness during the COVID-19 pandemic is likely to skyrocket the demand for bikes in Mexico. Additionally, the lack of public mobility vehicles such as trains, buses, and others due to lockdown restrictions has further sparked the consumer’s interest in buying such vehicles. However, sudden supply chain disruptions in the automobile industry during the pandemic period are expected to impose severe challenges to the overall industry’s growth. These challenges primarily include tightening cash flows between the small-scale equipment distributors companies associated with this market. The growing popularity of remote work among corporate professionals and others is expected to reduce the number of daily road commuters across the country.
Key Players: Benotto, Bicicletas Ozeki, Bimex, Dorel Industries Inc., Giant Bicycles, Grupo Oriental, Magistroni, Maxcom Ltd., Santa Cruz Bicycle, Scott Sports
Considered in this report
Historic year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027
Aspects covered in this report
Mexico 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
Segment covered in the report
By End User
By Bikers Type
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, analyzing 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.
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.
Keywords: Mexico, road bikes, mountain bikes, hybrid bikes, e-bikes, bicycle, kid bicycle, men, women, kids, highly engaged, engaged, leisure, travel.
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List of Figures
Figure 1: Mexico Bicycle Market Size By Value 2016 to 2027F (In USD Billion)
Figure 2: Mexico Bicycle Market Share By Bicycle Type (2016, 2021 & 2027)
Figure 3: Mexico Bicycle Market Share By End User (2016, 2021 & 2027)
Figure 4: Mexico Bicycle Market Share By Bikers type (2016, 2021 & 2027F)
Figure 5: Market Attractiveness Index, By Bicycles Type
Figure 6: Market Attractiveness Index, By End User
Figure 7: Market Attractiveness Index, By Bikers Type
Figure-8: Porter's Five Forces Meter of Bicycle industry in Mexico
List of Tables
Table 1: Mexico Bicycle Market Size of Road Bikes (2016 to 2027F) (In USD Billion)
Table 2: Mexico Bicycle Market Size of Mountain Bikes (2016 to 2027F) (In USD Billion)
Table 3: Mexico Bicycle Market Size of Hybrid Bikes (2016 to 2027F) (In USD Billion)
Table 4: Mexico Bicycle Market Size of E-bikes (2016 to 2027F) (In USD Billion)
Table 5: Mexico Bicycle Market Size of others (2016 to 2027F) (In USD Billion)
Table 6: Mexico Bicycle Market Size of Men (2016 to 2027F) (In USD Billion)
Table 7: Mexico Bicycle Market Size of Woman (2016 to 2027F) (In USD Billion)
Table 8: Mexico Bicycle Market Size of Kids (2016 to 2027F) (In USD Billion)
Table 9: Mexico Bicycle Market Size of Highly Engaged (2016 to 2027F) (In USD Billion)
Table 10: Mexico Bicycle Market Size of Engaged (2016 to 2027F) (In USD Billion)
Table 11: Mexico Bicycle Market Size of Leisure (2016 to 2027F) (In USD Billion)
Table 12: Mexico Bicycle Market Size of Travel (2016 to 2027F) (In USD Billion)
Table 13: Key Facts of Company 1
Table 14: Key Facts of Company 2
Table 15: Key Facts of Company 3
Table 16: Key Facts of Company 4
Table 17: Key Facts of Company 5
Table 18: Key Facts of Company 6
Table 19: Key Facts of Company 7
Table 20: Key Facts of Company 8