Bicycle market in India is projected to grow at a CAGR of over 11% during 2016-2021, on account of rising population base in the country.
India is among the largest manufacturers of bicycles in the world. Rising from government initiatives, increasing health consciousness among all age groups, and booming demand for kids bicycles propelled growth in India bicycle market during 2011-2015.
Various state governments are focusing on the launch of bicycle distribution programs for school children and is anticipated to emerge as one of the major factors propelling demand for bicycles in the country in the coming years. Additionally, rising number of cycling events and emergence of cycling clubs is projected to augment demand for geared and sports bicycles across the country in the coming years. Consequently, various international bicycle manufacturers such as Bianchi, Giant, Cannondale, Mongoose, etc., have entered India bicycle market through their collaboration with Indian companies.
Roadster bicycle segment dominated India bicycle market in 2015, and the segment is anticipated to continue dominating the market through 2021. Growing demand for roadster bicycles in India can be attributed to implementation of bicycle distribution programs by various state governments and expanding rural population base. Few of the leading players operating in India bicycle market include Hero, TI Cycles, Atlas and Avon, among others.
India Bicycle Market report elaborates following aspects of bicycle market expansion in India:
India Bicycle Market Size, Share & Forecast
Segmental Analysis - By Type (Roadster, Sports and Kids), By Geared Vs Gearless, By Rim Size (26 Inch, 20 Inch, 28 Inch, 24 Inch, 18 Inch, 16 Inch, 29 Inch, 14 Inch, 12 Inch, 27.5 Inch and Others)
Policy & Regulatory Landscape
Competitive Landscape and Strategic Recommendations
Market Trends & Developments
Growing Demand for Premium Bicycles
Increasing Demand for Disc Brakes in Sports Bicycles
Increasing Sales of Bicycles through E-Commerce Channel