WHAT IS THE SIZE OF THE CYCLE INDUSTRY
There are no clear data on the size and reach of the Cycle industry as there are no datasets globally available. But existing studies indicate the number of cycles that may be on the road is in the range of between 1 to 2 billion or roughly one sixth of the population have access to their wheels. According to one estimate The global bicycle market size was valued at USD 47.51 billion in 2017 and it is projected to reach US $ 75 billion by 2025 growing at around an estimated 6.1% . The increase in number of people opting for bicycling as a form of leisure is anticipated to propel the growth.
After China & Taiwan India is the world's largest manufacturer of cycles selling over 16.5 million units, valued at around around $ 800 million. Volume to value terms the the results are low considering that the country operates mostly at the lower end of the spectrum with cycles being sold in the range of US $ 80 to $ 150. The industry is expected to grow at 8 per cent.
WHICH ARE THE POTENTIAL GROWTH MARKETS?
WHO ARE THE LEADERS IN THE CYCLES GLOBALLY?
WHO ARE INDIAN BRAND LEADERS?
Once again, there are different leaders in different segments. Interestingly all dominant players offer a range of designs from the basic to the extreme equally matching the price ranges. The segment is dominated Hero Cycles followed by Atlas cycles which is currently under shut down. Avon, Hercules, Montra and BSA brands owned by TI cycles , La Sovereign and Firefox cycles among others.
The answer to this a bit complex as it depends on the perspective from which the data is being looked at. Majority of bikes sold in the USA are produced in Taiwan and China by just a handful of manufacturers-Giant being the largest of them all. Generally, low to mid-level bike units are manufactured in Asia whereas the high-end bikes are made in Taiwan if not in-house for a few brands.Purely from the brand perception the dominant names are Giant, the Taiwanese giant set up in 1972, Merida also a Taiwanese company, Canondale, Trek, Santa Cruz , Spcialized component,l GT, Kona all from USA, the Swiss SCOTT Sports SA, the Japanese Fuji Bike, Italian Bianchi, the German cube bike, the Indian Hero cycles, BSA, TI , the French BTwin,
Even though the industry growth rate has been confined to Western countries where the awareness about cycling and its benefits is very high, the sales is confined to premium segment while Asian Region is leading the industry growth by sheer numbers and not necessarily in value terms. India is a dominant player in the cycles both in cycle production and its use.
TI CYCLES ON AGGRESSIVE MARKET PENETRATION & BRANDING STRATEGY
The new business model has seen a 17% improvement in Return on Capital Employed (ROCE) in FY20 against 6% for the last year. ET Auto full story
Bamboo cycles demand is growing
In the Blog page of this website, there is a story on Bamboo cycles. Quite a few Indian manufacturers seem to have sprung up to meet the growing demand for the Bamboo bikes, which are seen to be environmentally friendly and functionally not very different from the normal steel or carbon fibre framed bikes. Here is a link to an informative video. The following websites may give more information: