DOETINCHEM, the Netherlands – According to a recent study conducted by the international industry market research agency ‘Research & Market’ the value of the global bicycle market will increase to 39.3 billion euro between 2018 and 2022.
According to ‘Research & Markets’ “This rise will be largely driven by the growing popularity of e-bikes, integration of mechatronics and IoT, and by increased diversification.” The results of the study ‘Research & Markets’ were revealed by the Taiwan External Trade Development Council (TAITRA).
Taiwan benefits from the growing popularity of cycling as the country’s export of complete bicycles reached 1.65 million units, valued at US$1.09 billion (964 million euro) for January-September 2018. That’s a rise of 14.2% compared with the same period in 2017, according to a report released by Taiwan’s Ministry of Finance. Between January and September, Taiwan’s combined export value of bike components and complete bikes has exceeded US$2.5 billion (2.2 billion euro).
The Global Strategic Business Report on bicycles provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets. According to the publisher ‘Research & Markets’ the market data and analytics are derived from primary and secondary research.
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