Posted 11/26/2023, 11:00:00 PM
Sports Bicycle Market Set to Grow Over $5 Billion by 2027, Driven by North American Demand and Rising Fuel Prices
- The sports bicycle market is estimated to grow by USD 5.52 billion from 2022 to 2027, at a CAGR of 6.19%
- The market is fragmented due to many global and regional companies like Accell Group NV, Advanced Sports Inc., Alta Cycling Group, etc.
- North America accounts for 33% of market growth due to increasing cyclists and interest in recreational activities
- Increasing fuel prices is an impactful driver of market growth
- The market is segmented by application into adults and kids, with the adult segment expected to see significant growth