The Future Development Trend of the Bicycle Industry

The Future Development Trend of the Bicycle Industry

Electric bikes are one of the keys to the future of transportation, with more electric bikes sold in the U.S. in 2021 than electric and hybrid vehicles combined. The global bicycle market size is expected to grow by 38% by 2024.
Published: May 11, 2022
The Future Development Trend of the Bicycle Industry

Global Bicycle Industry:

By the end of 2030, the value of the global electric bicycle industry is expected to surge to 40.98 billion US dollars. The future electric bicycle industry is an industry worth looking forward to.

According to the Light Electric Vehicle Association, the United States imported about 790,000 electric bicycles in 2021. Outside of the US, sales of e-bikes in Europe are expected to exceed sales of cars (electric and gasoline-powered) as early as 2025. Asia is still the world's largest e-bike market, with tens of millions of e-bikes sold every year. Europe is close behind, while North America is third.

Although the e-bike market was already expanding at an alarming rate before the COVID-19 pandemic, the changing world is driving sales further. Commuters to work have switched from taking public transportation to electric bikes to save on the cost of commuting to work each day. In addition, fuel, insurance, car payments, parking fees, and other fees are required to purchase a car, and e-bikes can bring families a more affordable family vehicle. Social distancing is still an important means of epidemic prevention. Therefore, countries have encouraged people to travel by bicycle (bike), which has led to the recent rapid growth of the global bicycle industry.

People also regard cycling as a fun and healthy activity, especially since tourism has not yet been opened around the world, and seeking new hobbies has become a joy in people's lives. In conclusion, these rising market figures are expected to continue to expand the size of the bicycle market with the increasing popularity of e-bikes.

The improvement of science and technology in recent years has also driven the bicycle industry to carry out reform and innovation. The traditional bicycle industry simply pursues lightweight products. It must further integrate new thinking of technology and innovative services, and provide products and services that are more in line with consumer needs, to continue to win the favor of the market.

Future Trends in the Bicycle Industry:

  1. Electricization:
    To move toward the issue of energy saving and carbon reduction, electric bicycles (e-Bikes), which are low-pollution, simple to operate, labor-saving, and do not require a driver's license, have gradually become a new choice for people's means of transportation. Whether for work commuting or vacation and leisure, more and more riders choose e-Bikes with power pedals to enjoy their riding life. While saving energy, reducing carbon, and caring for the environment, you can also maintain a good exercise routine.
  2. Wisdom:
    The introduction of intelligent elements is the key to attracting consumers. The e-life has been all around us, and all walks of life are developing towards automatic and intelligent development, and so is the bicycle industry. IoT, big data, and digital life are changing the ecology of various industries and continue to change our lives. It is foreseeable that in the future, bicycles will not only be transportation or sports tools, but also the most convenient monitoring unit in smart cities. Environmental information can be collected at any time, and even traffic data can be monitored. In response to the comprehensive transformation of the bicycle industry to the direction of intelligence, combined with the soft power of the Internet of Things and smart applications, we will develop bicycle products that are more in line with the smart market.
  3. Community sharing:
    As the bicycle life is fully moving towards intelligence, riders hope to use intelligent networking as a community sharing tool to enjoy a more different riding life and to promote the formation of a new situation of shared services in the bicycle industry. Integrate the GPS bike watch, allowing riders to upload their riding knowledge and information to the community and share them with riders. It also brings closer interaction with everyone, and at the same time enhances the visibility and stickiness of the brand.
  4. Customization:
    Electrification and intelligence depend on the addition of science and technology, but to satisfy consumers' awareness, focusing on the design and development of customized bicycle products is also the key for bicycle brands to win new market consumption patterns. Most consumers still expect to have a bicycle that is exclusive to them, and they can choose their favorite material, frame, color, etc., and even riders are willing to spend a higher amount to buy it.
  5. Globalization:
    Given the intensified competition in the global bicycle industry, the US-China trade war has had a global impact on Taiwan's bicycle industry. In addition to product and service innovation, move towards smart manufacturing and build a global supply chain support system that can be quickly adjusted. How to create a complete and flexible supply chain is an issue that the global bicycle industry needs to ponder.

Taiwan has the potential to develop high-value-added electric bicycles. Bicycle manufacturers can provide corresponding overall solutions for different demand scenarios, and provide diversified application options in-vehicle, service platforms, and logistics management, from car models to App design. Providing customized products or services to specific customers, and integrating Taiwan's domestic key components and systems into the vehicle platform, will further create Taiwan's bicycle output value and enhance the international competitiveness of the future bicycle industry.

What Kinds of Bicycles are There?

  1. City bike:
    A city car refers to a bicycle suitable for commuting and mobile use in the city. For example, a U-Bike is a type of city car. A city car usually has a simple transmission to respond to the ups and downs of roads and terrain in the city, but pay attention to Yes, city bikes generally have lower suspension, so they are not suitable for riding on gravel, unpaved roads.
  2. Lady's bike:
    Most ladies' cars have no speed change and low-span design so that users wearing skirts can easily get on and off, and ride at an elegant slow speed. The basket and front and rear fenders prevent the clothes from getting dirty while riding and are also suitable for daily load use.
  3. Folding bike:
    The biggest feature of a folding bike is that it can be manually folded and unfolded without any tools. It is suitable for riding in cities or moving with vehicles such as trains and tour buses. It is a type of bicycle that is easy to carry and travel.
  4. Electric auxiliary bike:
    Electrically assisted bicycles are bicycles that are mainly pedaled by human power and supplemented by electricity. They can help the rider to use the power output as kinetic energy assistance when pedaling to help reduce the burden on the body. It is very suitable for low physical strength. It is one of the smart bicycles with a more flexible riding style.
  5. Road bike:
    Road bikes are a type of vehicle that often appears in cycling sports events. They mainly pursue the high-speed pleasure that is integrated with the wind. Therefore, they are mainly designed lightweight, and the wheel diameter is also larger than that of mountain bikes. On the terrain, it can play the best riding performance.
  6. Gravel bike:
    The biggest feature of the gravel bike is that it has the lightness of a road bike and the performance of an off-road vehicle at the same time. The tire width is highly selective, which can well solve the riding restrictions and ensure comfort, whether it is asphalt, gravel, mud, and other terrains can be conquered. It is the first choice for outdoor sports and exploring secrets.
  7. Mountain bike:
    Mountain bikes are mainly designed to respond to loess roads, sandy roads, and rugged roads. Therefore, the tires are usually thicker and the tread pattern and particles are deeper. In addition, mountain bikes are stable and shock-absorbing. In terms of performance, it is also better than other models.
  8. Cyclocross bike:
    A road bike refers to a vehicle that has the sense of speed of a road bike and the ability to adapt to rough terrain off-road.

To meet the diverse needs of riders, the development of bicycle types is becoming more and more compre

Published: May 11, 2022 Source :bike, Source :ieatpe

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