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Bicycles Market to reach Valuation of USD 82 Billion by 2030: Transparency Market Research
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ALBANY, N.Y. , Sept. 2, 2020 /PRNewswire/ -- Over the forecast period of 2020 to 2030, the global bicycle market is set to grow at a healthy compound annual growth rate of 5.5 %, taking the market worth up to a hefty valuation of USD 82 billion by the end of the stated period.
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The global bicycle market is marked by a notable degree of competitiveness. It is a natural outcome of presence of a decent number of strong players in the market landscape. Some of these strong players in the market are BMC Switzerland AG, Boardman Bikes Ltd, Cannondale Bicycle Corporation (Cycling Sports Group, Inc.), Firefox Bikes, Fuji Bike Worldwide, Giant Bicycle, SCOTT Sports SA, Shimano Inc., Specialized Bicycle Components, Inc., and Trek Bicycle Corporation. Of the mix of organic and inorganic strategies that players often deploy to stay ahead of the curve, measures such as expansion of geographic reach via key alliances, better marketing initiatives, and new product launches are quite prominent. High product visibility is key to enlarge consumer base.
In its report on the market, Transparency Market Research has provided a deep dive into these growth strategies opted by different market players. Financials and product information (market share, new launches, etc.) is also enumerated in great detail.
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