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Bicycle Subscription Market

Emergence of Subscription-based Ownership Has Driven the Need for Bicycle Subscription Platforms, States Fact.MR

Published : 12 Oct 2021 Industry: Technology

As per industry analysis by Fact.MR, a market research and competitive intelligence provider, the global market for bicycles stood at US$ 58 Bn in 2020, wherein, around 140 Mn bicycles are produced annually across the globe. The market is set to reach a valuation of little over US$ 127 Bn by 2030, with a projected growth of above 8% CAGR.

The European market holds the highest share of around 1/3 of the total bicycle market, and COVID-19 has also had a positive impact in Europe. As more and more people are shifting to bicycles post the pandemic effect, the bicycle subscription market will gain momentum over the coming half-decade.

Key Takeaways from Market Study

  • Chinese bicycles are priced lower than Indian-made ones by nearly 15%, as raw materials contribute nearly 70-80% to the cost of manufacturing, and that is where China takes the lead due to abundant availability.
  • In 2018, the worldwide e-bike market was valued US$ 20 Bn, and it is expected to reach US$ 40 Bn by 2025.
  • Between January and November 2020, Vietnam exported around 150,000 e-bikes to Europe, while Turkey shipped nearly 50,000 units to the EU.
  • From 4.3 Mn in 2019 to 5.2 Mn in 2020, total market volume of e-bikes and bicycles climbed 17% in Germany.
  • In 2019, the average cost of a bicycle in the United States was US$ 23.9 per unit.
  • The online food delivery industry has made the most out of the pandemic and is expected to reach a market valuation of US$ 190 Bn by 2025, showcasing 11% CAGR from 2020-2025, which is the prime user of bicycle subscriptions.

“E-bikes have become the talk of the town, and bicycle subscription vendors are likely to leverage this trend to gain higher profits,” says a Fact.MR analyst.

Winning Strategy

As the volume of bicycles is rising, bicycle subscription providers are leveraging the trend of healthy and fit lifestyle that has been adopted by people. Advertisement and marketing campaigns are drafted in such an approach to reach individual- as well as enterprise-level customers.

As the market is in its introduction phase, a large number of commercial giants have invested in bicycle subscription platforms, making it the most attractive industry in terms of revenue generation, Furthermore, prominent players have used plan customization as a crucial tactic because it helps end users feel unique in their bicycle subscriptions and are likely to stay more on the platform.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global bicycle subscription market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of fleet location (personal parking and dedicated parking), bicycle type (roadsters, premium, kids, and e-bikes), subscription type (weekly, monthly, yearly, and one-way passes), and end user (individuals, enterprises (universities, hospitals, manufacturing, logistics, last mile delivery, hotels & resorts, corporate offices, and others)), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Technology Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant – Technology

E-mail: shubham@factmr.com

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Bicycle Subscription Market to Witness Rise in Demand for E-bike Subscription during 2021-2031