Published on : Mar 29, 2018
Albany, New York, March 29, 2018: A new research study titled “Cycling-UK-March 2018” has been freshly publicized to the wide repository of Market Research Hub (MRH). The research study offers a holistic outlook of the market covering market trends, factors along with industry growth prospects from 2013 to 2017, and forecast to 2022. With a prime focus on U.K. market, the research highlights various attributes such as consumer perspective, market background, key players, market strategies and latest innovations.
With an extensive forecast to 2022, the research aims to provide vital information regarding the future trends and upcoming opportunities in the market. Initially, the market overview section offers analysis of cycling trend in U.K. It has been analyzed that, regular cycling participation has dipped over past three years. Apart from that, there is still potential to double participation levels. This is possible through the safer roads of U.K. The report looks at the consumer's demand and find out that Millennials and MAMILs remain core customers in this market. They prefer cycling because it provides the benefit of fitness and stress relief. Leisure then commuting are most popular cycling purposes for the U.K. consumers.
Moving further, the study identifies the sales growth in the cycling industry. Presently, four in 10 cyclists likely to pay for a service in next 12 months. It has been analyzed that rising rail fares offer further incentive to cycle. According to the research key findings, bicycle sales value up, but volumes stagnating as going gets tough. On the plus side, ‘cycling enthusiasts’ remain willing to spend on their hobby. In terms of kay players market share, Halfords’ sales up for past two years. Also, Halfords increases market share and moves into the premium market.
In the overall market, the main product types include mountain bikes, road/gravel bikes, traditional and hybrid bikes, children’s cycles and small wheel bicycles, such as BMX and folding bikes. As per the study, continual innovation in bicycle design and components, and new premium bicycles, including e-bikes, should help to sustain growth in market value.
Presently, the market has some major facts which have been identified in the study include
- Rising prices help to grow market value
- Mountain bikes remain favorite but others gaining ground
- E-bike interest at the same level as road/hybrid/classic
- Consumer mood likely to remain cautious
- CWIS could be long-term game-changer for cycling
- Shops need to diversify and take a service-oriented approach to survive
In the end, the research concludes by defining the market competitive landscape. This section allows reader to know about the products, bicycle suppliers, channels to market, and their launch activity and innovation in the recent past.
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