A hybrid bicycle is a mix of road, touring, and mountain bikes. Hybrid bikes incorporate particular features that make them do-it-all bikes with a broad range of uses. The correct type of hybrid bicycle for each user mainly depends on the usage of the bicycle. While purchasing a hybrid bicycle, buyers look for specifications such as wheel size, gears, brakes, suspension, fenders, and racks. The features determine the usage of the bicycle, its performance, and most importantly if it is suitable for users.
Hybrid bicycles offer more comfort to users. Currently, hybrid bicycles are also known as the workhorse of bicycles. Demand for hybrid bicycles is on the rise owing to their versatile properties. Hybrid bicycles are a mix of mountain bikes and road bikes, user can use the same bicycle for both the purpose. Moreover, electric hybrid bicycles are becoming a desirable option for tracking and biking among mountain and road bikers, owing to their wider tires, upright seat position, low weight, a large number of gears, and fast speed. Awareness regarding health and security among riders has resulted in high demand for hybrid bicycles. These factors are projected to boost the global hybrid bicycle market during the forecast period. However, low penetration of the hybrid bicycles in emerging and low economies is projected to hinder the global market growth.
The global hybrid bicycles market can be segmented based on product, material, suspension, gear, size, brake style, end-user, distribution channel, and region. Based on product, the hybrid bicycles market can be divided into fitness bicycle, dual sports bicycle, and urban & commuter bicycle. In term of material, the market can be classified into aluminum, steel, and carbon. Based on Suspension, the global hybrid bicycle market can be bifurcated into full suspension and front suspension. In terms of gear, the market can be segmented into single speed, 6-speed, 7-speed, and 21-speed. Based on size, the market can be classified into XXS, XS, S, M, L, XL, and XXL. In terms of break style, the global hybrid bicycle market can be divided into direct-pull brakes and disc brakes. Based on end-user, the market can be classified into men, women, and kids. In terms of distribution channel, the market can be categorized into online and offline.
Based on region, the global hybrid bicycles market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the hybrid bicycles market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the hybrid bicycles market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America hybrid bicycles market is segmented into Brazil, Mexico, and Rest of South America. North America is expected to dominate the hybrid bicycles market due to a large user base in the region and rise in the adoption of riding as a sport.
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Key players operating in the global hybrid bicycles market include Shimano Inc., Giant Bicycle, Inc., Boardman Bikes Ltd, Trek Bicycle Corporation, Firefox Bikes, Fuji Bike Worldwide, SCOTT Sports SA, Raleigh America, Specialized Bicycle Components, Cannondale Bicycle Corporation, Marin Bikes, Diamondback, Jamis Bikes, and BMC Group Holding AG. Key players are projected to witness rising demand for hybrid bicycles in the near future due to the increasing popularity of bicycle riding. Manufacturers are launching new, quality models and customized products. Furthermore, vendors are concentrating on improving distribution channels, especially the online channel, to increase efficiency in the market. Hybrid bicycles are an active product, and their improvement is supported by factors such as technology and innovation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
