Bicycle Market Size Is Expected To Reach USD 119.29 Billion By 2030
San Francisco, 6 May 2022: The Report Bicycle Market Size, Share & Trends Analysis Report By Product (Mountain, Hybrid, Road, Cargo), By Technology (Electric, Conventional), By End User, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030 The global bicycle market size is expected to reach USD 119.29 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.2% from 2022 to 2030. Increasing adoption of cycling as a form of leisure and awareness regarding the health benefits associated with cycling are the factors expected to bolster the market growth. Bicycles are being preferred for short-distance commutes as they save considerable time as compared to other vehicles. Moreover, limited parking spaces and growing traffic congestions are prompting people to reconsider bicycles as a primary option for the commute. Rising emphasis on the use of non-polluting vehicles for short-distance commutes by governments