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, and more electric bikes were sold in the U.S. in 2021 than electric and hybrid cars combined. The global bicycle market 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 electric bicycle industry has a future worth looking forward to.

According to the Light Electric Vehicle Association, the United States imported about 790,000 electric bicycles in 2021. Sales of e-bikes in Europe is expected to exceed sales of cars (electric and gasoline-powered) by 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 have switched from taking public transportation to electric bikes to save on the cost of commuting to work each day. Because fuel, insurance, car payments, parking fees, and other fees are required for a car, e-bikes offer families a more affordable family vehicle. When social distancing was promoted as a means of epidemic prevention, countries encouraged people to travel by bicycle, which led to rapid growth in 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. These market trends are expected to continue to expand the bicycle market, especially 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 generally 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:
    Because electric bicycles (e-Bikes), save energy, reduce carbon emissions, are low-polluting, simple to operate, labor-saving, and do not require a driver's license, they have gradually become a new choice for people's means of transportation. Whether for commuting to work, or for vacation and leisure, more and more riders are choosing 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. Smart Bikes:
    The introduction of intelligent design to E-Bikes has been a key to attracting consumers. Along with the E-life developing around us, the bicycle industry is developing automatic and intelligent bikes with the potential to influence many of our walks of life. It is foreseeable that in the future, bicycles will not only be transportation or sports tools, but also a convenient monitoring platforms for 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, manufacturers will develop bicycle products that are more in line with the smart market.
  3. Community sharing:
    As bicycle design moves more and more towards intelligence, riders hope to use intelligent networking as a community sharing tool to enjoy a more efficient riding lifestyle and to promote the formation of a new status quo of shared services in the bicycle industry. Integrating with GPS allows riders to upload their riding information to the community to be shared with other riders. It brings closer interaction between riders, and enhances visibility and brand awareness.
  4. Customization:
    Electrification and intelligence development depend on science and technology, but the design and development of customized bicycle products is also a key for bicycle brands to win new markets. Most consumers still expect to have a bicycle that is exclusive to them, where they can choose their favorite material, frame, color, etc., and they are willing to spend more for it.
  5. Globalization:
    Besides 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, smart manufacturing and building a flexible global supply chain are important. How to create a complete and flexible supply chain is an issue that the global bicycle industry needs to consider.

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

What Kinds of Bicycles are There?

  1. City bike:
    A city bike refers to a bicycle suitable for commuting within the city. For example, a U-Bike is a type of city bike. City bikes usually have a simple transmission to respond to the ups and downs of roads and terrain in the city, but city bikes generally have less suspension, so are not suitable for riding on gravel or unpaved roads.
  2. Lady's bike:
    Most ladies' bikes have no speed change options and have a low-span design so that users wearing skirts can easily get on and off, and ride at an elegant slow speed. The front and rear fenders prevent the clothes from getting dirty and lady's bikes usually have a basket for carrying items.
  3. Folding bike:
    The biggest feature of a folding bike is that it can be manually folded and unfolded without any tools. It is easy to carry and travel with, and is suitable for riding in cities or carrying on vehicles such as trains and tour buses.
  4. Electric auxiliary bike:
    Electrically assisted bicycles are bicycles that are mainly pedaled by human power but are supplemented by electricity to reduce the effort needed to pedal. It is one of the smart bicycles that offers a more flexible riding style and is very suitable for riders with lower physical strength.
  5. Road bike:
    Road bikes are the type of bikes most often used in cycling sports events. They offer the most efficient performance, pleasure, and reduced wind resistance for high-speed riding on flat terrain. They are lightweight, and have a wheel diameter larger than that of mountain bikes.
  6. Gravel bike:
    The main features of the gravel bike are that they are light weight like a road bike, but they deliver the performance of an off-road road. The tire width is highly selective, and can be chosen according to the riding conditions. Gravel bikes ensure comfort, whether riding on asphalt, gravel, mud, or other terrains, and are the first choice for outdoor sports and exploration riding.
  7. Mountain bike:
    Mountain bikes are mainly designed to respond to dusty, sandy, and rugged roads. There tires are usually thicker and the tread pattern is deeper. Mountain bikes are stable and shock-absorbing and perform better than other styles.
  8. Cyclocross bike:
    A cyclocross bike is a bike with the speed capabilities of a road bike and the ability to adapt to rough, off-road terrain.

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

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

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