With Advanced Features and Initiatives Regarding Clean Energy, the Global Bicycle Market is expected to Witness Significant Growth in the Near Future

Bicycle is seen to be an important mode of sustainable transport offering performance, price and environment benefits as compared to gasoline-based vehicles. Bicycles are eco-friendly, affordable and healthy mode of transportation. The global bicycle market is projected to reflect 3.7% CAGR during 2016 to 2024 to account for a market value of US $62.39 billion by 2024 end according to a study by Persistence Market Research (PMR).

Factors Propelling the Growth of Global Bicycle Market Include

  • More than half of adult population were observed to suffer from obesity in 114 nations including Middle East, Europe and America, which in turn led people adopt to bicycles owing to its health benefits
  • No necessity of any source supply or external fuel to drive a bicycle
  • Preservation of natural resources and possibility of natural resources depletion
  • Customer inclination towards bicycle for travelling to short distances in order to save fuel and oil
  • Ability to avoid the massive traffic congestion and reach destination comparatively faster

“Trin Trin”- An Initiative by Mysore for Reducing and Controlling Pollution

Along with the advancements in bicycle market, many cities and nations are coming up with several initiatives regarding clean environment and conservation of fuel. One such initiative, known as “Trin Trin”, was commenced recently by Mysore, the cleanest city of India. The southern region of Mysore is introducing bicycle sharing in order to control and reduce pollution. The city corporation is set to rent bicycles to travelers and commuters for getting around in a clean and much more fun way. The city has bought around 430 bicycles and has parked them at the docking stations at prominent locations so that people could rent bicycles on an hourly basis. Users are made to register online for a smart card and preload it with money for utilizing the service on a weekly, monthly and yearly basis.

This initiative is for encouraging more tourists and people for adoption of bicycles owing to its properties of being cheap and environment-friendly. Mysore is already the cleanest Indian City and this initiative will help to retain its position. With an estimated price of Rs. 20.5 crore, funded by Global Environment facility Grant of World Bank, the city is set to replicate a model which has been successful among other global cities. The cycles for this initiative are being produced by Green Wheel Ride, a local vendor. The response for this initiative’s initial trials were observed to be highly positive. This is the first time such an initiative is taken, not only in India but in the whole Asia Region.

Following are Some Trends Observed in 2017 Regarding Bicycles

  • Lightweight Disc Brakes– Disc brakes in bicycles are gaining more traction than ever. Major bicycle companies are focusing on completely new designs accommodating additional braking power.
  • More Sophisticated Carbon– Bicycles nowadays are made from material with grapheme content. However, sophisticated carbon is a more suitable term addressed to graphene. Graphene helps in weight reduction and adds strength to bicycles body.
  • Soaring Bike Integration– 2017 is expected to be the time when bicycle companies would adopt to integration bandwagon. Last year, a bike used more than 30 sensors that helps in finding the best aero position for user. This bicycle was named Argon 18 Smart Bike.
  • Wider Tires and Wider Rims– Introduction to disc brakes has nullified the issues related to the clearance between wheel and frame of a bicycle. Wider tires and rims aid better grip and comfort during the ride inspiring greater confidence.
  • Costs to Leap Higher– Political events such as Brexit have effected not only Europe but also the whole world. Thus prices of most of the products are seen to gain an uptick accordingly. With the advent of advanced features in bicycles, the prices too are expected to leap higher in the near future.

For more information visithttp://www.persistencemarketresearch.com/market-research/bicycle-market.asp


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