The Bicycle Trip by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/bicycle-trip-global-market-report
According to The Business Research Company’s Bicycle Trip , The bicycle trip market size has grown rapidly in recent years. It will grow from $1.17 billion in 2023 to $1.35 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to rise in health and wellness awareness, cultural shift towards sustainable transportation, urbanization and traffic congestion, government initiatives for cycling infrastructure, emergence of bike-sharing programs.
The bicycle trip market size is expected to see rapid growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to focus on eco-tourism and sustainable travel, expansion of bike tourism initiatives, supportive policies for commuting by bike, introduction of bike-friendly accommodations, bicycle-friendly accommodations.. Major trends in the forecast period include technology integration, multi-day bicycle events, social media influence, bikepacking and adventure cycling, integration of electric bicycles, advancements in bicycle technology.
Increasing adventure tourism is driving the bicycle trip market forward. Adventure tourism refers to the movement of people from one place to another for the purpose of exploring new cultures and trying adventurous sports. Cycling tourism is a type of adventure tourism. For instance, in May 2022, according to a survey conducted by the Adventure Travel Trade Association, a US-based international trade association of adventure tourism business operators, 82 percent of the 142 business operators surveyed expected their 2022 revenues to be higher than or equal to those of 2021. As a result, increasing adventure tourism is propelling the bicycle trip market forward
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The Bicycle Trip Market Covered In This Report Is Segmented –
1) By Type: Multi-Day Bicycle Trips, Overnight Bike Trips, Long-Distance Bicycle Trips
2) By Age Group: 18-30 Years, 31-50 Years, Above 50 Years
3) By Application: Solo, Group
Product innovations are a key trend gaining popularity in the bicycle trip market. Major companies operating in the bicycle trip market are introducing innovative products such as Brompton foldable bicycles to sustain their position in the market. For instance, in February 2022, Brompton, a UK-based manufacturer of foldable bikes, introduced its lightest-ever lineup of foldable bikes. The new products launched included an innovative T-line, which includes a superlight 16.4-pound titanium bike, and a P-line, a superlight steel foldable bike. Other product lines launched included the C-line, which is a line of electric bikes, and the A-line, which is a line of entry-level foldable bikes.
The Bicycle Trip Market Report Table Of Contents Includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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