Malaysia Bicycle Market Size By Product, By Application And Forecast

Malaysia Bicycle Market Size And Forecast

Malaysia Bicycle Market size is growing at a faster pace with substantial growth rates over a few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

Increasing fitness consciousness among people, as well as increasing concern towards the environment and government schemes to promote cycling, has led to an increase in the demand for bicycles. In addition, emerging trends, which have a direct impact on the dynamics of the bicycle industry, include increasing use of folding electric bicycles and increasing demand for bicycles with better safety features and appearance drives the Malaysia Bicycle Market. The Malaysia Bicycle Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Malaysia Bicycle Market Definition

A bicycle also called a bike or cycle, is a human-powered or motor-powered, pedal-driven, single-track vehicle, having two wheels attached to a frame, one behind the other. A bicycle rider is called a cyclist, or bicyclist. They are the principal means of transportation in many regions. They also provide a popular form of recreation and have been adapted for use as children’s toys, general fitness, military and police applications, courier services, bicycle racing, and bicycle stunts. However, many details have been improved, especially since the advent of modern materials and computer-aided design. These have allowed for a proliferation of specialized designs for many types of cycling. A bicycle is an eco-friendly mode of transportation, which is available in a range of varieties such as cargo bikes, electric bikes, and mountain bikes.

Bicycle is simple to operate and is considered as one of the safest modes for traveling. The bicycle’s invention has had an enormous effect on society, both in terms of culture and of advancing modern industrial methods. Several components that eventually played a key role in the development of the automobile were initially invented for use in the bicycle, including ball bearings, pneumatic tires, chain-driven sprockets, and tension-spoked wheels. Although bike and cycle are used interchangeably to refer mostly to two types of two-wheelers the terms still vary across the world. Bicycle refers only to a two-wheeler using pedal power whereas the term bike is used to describe a two-wheeler using an internal combustion engine or electric motors as a source of motive power instead of a motorcycle.

Malaysia Bicycle Market Overview

The Malaysia Bicycle Market is expected to observe critical development during the conjecture time frame. Factors such as people have started realizing the importance of staying fit and having a healthy life. They are more health-conscious and regular bicycling can keep disorders away such as obesity, at bay. The market is likely to grow as more and more people are resorting to bicycling as a regular form of exercise. Major bicycle associations, bicycle clubs motive to increase the interest of customers toward cycling. Thus, they are involved in hosting various sports tournaments, fun activities, bike rallies, and competitions, which motivates customers for bicycle use this can attribute to fuel the market growth.

Furthermore growing government initiatives to promote cycling, increasing number of bicycle sports events, and rising popularity of bicycle rental services will boost the Malaysia Bicycle Market during the forecast period. The growing traffic congestions and shortage of parking space, particularly in metropolitan cities, are prompting people to consider bicycle commutation for short distances to save time.

In addition, companies are mainly focused on introducing electric bicycles with anti-theft control and speed control features that can drive the Malaysia Bicycle Market during the forecast period. However, the wide availability of alternative traveling chances such as trains, buses, autos, and others can hamper the market. Similarly, lightweight bicycles made using composite materials make them expensive, which does not bode well for market expansion.

Malaysia Bicycle Market Segmentation Analysis

The Malaysia Bicycle Market is segmented on the basis of Product, And Application.

Malaysia Bicycle Market, By Product

• 20 Inch• 24 Inch• 26 Inch• 27 Inch• Others

Based on Product, The market is bifurcated into 20 Inch, 24 Inch, 26 Inch, 27 Inch, and others. This different wheel and frame sizes help companies design bicycles that will fit kids of all ages. The wheel size is based on the diameter of the tire. Kids bicycles & adult bicycles come in these different sizes which are based on the wheel size of the bike.

Malaysia Bicycle Market, By Application

• Transportation Tools• Recreation• Racing• Physical Training• Others

Based on Application, The market is bifurcated into Transportation Tools, Recreation, Racing, Physical Training, and others. Bicycle remains as one of the most popular means of transportation tools due to their positive impact on the environment and zero cost. Bicycle racing is the cycle sport discipline of road cycling, held on paved roads. Road racing is the most popular professional form of bicycle racing, in terms of numbers of competitors, events and spectators expected to drive the market.

Key Players

The “Malaysia Bicycle Market” study report will provide a valuable insight with an emphasis on the market. The major players in the market are Giant Bicycles, Hero Cycles, TI Cycles, Trek, Shanghai Phonex, Atlas, Flying Pigeon, Merida, Xidesheng Bicycle and OMYO. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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