![]() Additionally, according to the statistics provided by the American Diabetes Association, in 2018, 34.2 million Americans had diabetes, out of which 26.8 million were diagnosed. There has been a rapidly growing prevalence of diabetes at the global level.Īccording to the statistics by the International Diabetes Federation, by the year 2040, one out of ten adults will have diabetes. Furthermore, bicycling regularly at a medium pace helps mitigate the risk of several chronic diseases. This has led to an upsurge in demand for bicycles in many parts of the world because of growing concerns among people regarding a healthy lifestyle with easy exercise and physical activity. One of the key factors supplementing the demand for bicycles is the globally growing prevalence of chronic diseases such as obesity, diabetes, and CVDs, among others. Also, the growing penetration of bicycle-sharing services and an increase in the number of online platforms in various countries that offer dockless bicycle-sharing systems are fuelling market growth throughout the forecast period. The constantly growing penetration of electric bicycles further widens the business opportunities for the market players to tap the growing market potential. ![]() This further led to the closure of gyms, parks, and other public places, which led to an upsurge in demand for cycles by fitness maniacs. The recent outbreak of novel coronavirus is also expected to boost the sales of bicycles in many parts of the world as several restrictions have been imposed by the governments across the country, such as social distancing and lockdowns, among others. The market is also being driven on account of the growing prevalence of chronic diseases such as CVDs, obesity, and diabetes, among others which is further augmenting the demand for bicycles among the people suffering from these diseases to stay healthy and fit. Furthermore, there has been an increasing adoption of bicycles in both developed and developing economies owing to the fact that the majority of people are opting for cycling as their daily routine activity and as a form of leisure. The global cycle market is projected to show healthy growth throughout the next five years, primarily on account of the increasing consumer preference for a healthy living lifestyle. The global bicycle market was evaluated at US$54.973 billion for the year 2020 and is expected to grow at a CAGR of 6.93% and reach US$87.876 billion by 2027. 19, 2022 (GLOBE NEWSWIRE) - The "Global Bicycle Market - Forecasts from 2022 to 2027" report has been added to 's offering.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |