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The global bicycle market in 2022 was US$ 1,300 million and is estimated to be US$ 2,650.23 million in 2023. The bicycle market is expected to increase at a CAGR of 8.92% between 2023 and 2033, totaling around US$ 6,229.4 million by 2033.

The increase in global bicycle market rises as customers prefer bicycles as a form of leisure increase. Maintaining an active and healthy lifestyle, and a life free from numerous ailments, bicycles are considered to be a handy method of exercise that is in great demand among consumers.

For more insights: https://www.futuremarketinsights.com/reports/bicycle-market 

Expansion in the demand for bicycles is rising globally as a result of a boost in public awareness of the health benefits of cycling. Dockless bicycle-sharing programs are gaining popularity at a significant pace among the general public, which is anticipated to support the expansion of the world bicycle market.

Key Takeaways from the Bicycle Market Study

• The global bicycle market expanded at a CAGR of 7.42% between 2018 and 2022.
• Based on the product segment, the road bicycle market had a revenue share of 70%.
• Under the end-user segment, men sector held a significant bicycle market share at 75%.
• Based on the technology segment, the conventional sector dominates the market share of 80%.
• North America is forecasted at a market share of 42.8%.
• Europe’s market is anticipated to increase with a market share of 38.4% in the bicycle market.

“Developments in GPS technology and Mobile App development is one of the key drivers of the bicycle market”, comments a Future Market Insights analyst.

Market Competition

Key players can create and advertise new, better goods at high price points to obtain a continuous competitive edge in the bicycle market. Additionally, a few significant bicycle market players are increasing their bicycle market share by choosing techniques including mergers and acquisitions, partnerships, and collaborations. 

Recent Developments Contributing to the Growth of the Bicycle Market

• Yulu is an app-based platform that offers on-demand bicycle/e-bike rentals in a few Indian cities. Through a mobile app, the business offers GPS and Bluetooth-enabled bicycles and electric bikes for rent. By scanning the QR code on the bicycle to unlock it, the user can ride after viewing nearby available bicycles on the app.
• Pony is an app-based platform for dockless bicycle rentals in a few locations across Europe. The software allows users to find nearby vehicles that are available and lock/unlock them by scanning a QR code. Users may leave the bicycle at any authorized spot when they reach their destination.

The global emission control catalyst market is expected to be valued at US$ 29.5 billion by 2033. The market is valued at US$ 13.1 billion as of 2023, and is expected to grow at a CAGR of 8.5% during the forecast period.

The market is most likely to be driven by an increase in the construction activities worldwide. The application of emission control catalyst would assist the construction firms in controlling the emission of pollutants. Apart from that, there has also been an increase in the number of waste to energy plants, which is expected to massively surge the demand for emission control catalyst.

Apart from that, unlike other types of catalyst, the usage of emission control catalyst does not lead to any side-effect. Furthermore, the cost associated is also low and also not much has to be spent on its maintenance. The robust mechanism of the emission control catalyst has attracted a lot of stakeholders, which might surge the sales of emission control catalyst.

Learn more insights @ https://www.futuremarketinsights.com/reports/global-emission-control-catalyst-market 

Most importantly, the growing automotive and automobile sector presents numerous opportunities in front of the market. For example, in December 2021, the EPA finalised the revised national GHG emissions for the period 2023-2026. The emission norms have been made stricter.

Apart from that, the automotive sector is particularly expanding in the developing countries, like India and China, which present massive opportunities. This along with an increase in the disposable income is expected to fuel the market growth. Moreover, even the automobile companies are looking for ways to cut carbon emissions, as a result of which they are making use of emission control catalysts.

However, increased adoption of electric vehicles is expected to pose a massive challenge to the market growth. The increase in sales of EV is bolstered by government norms. Furthermore, surging fuel prices is expected to have a negative impact over the market growth.

Thus, from the insights provided by FMI researchers, it can be concluded that, “increase in the construction activities, coupled with an increase in the growth of automotive sectors and many other influences are expected to surge the emission control catalyst market growth.”  

Key Takeaways:

• The market is expected to grow at a CAGR of 8.5% during the forecast period.
• As of 2023, the market is valued at US$ 13.1 billion.
• By 2033, the emission control catalyst market is projected to be valued at US$ 29.5 billion.
• Based on regional analysis, Asia Pacific is expected to be the largest market.
• USA market is expected to grow at a CAGR of 8.2%.
• UK market is projected to grow at a CAFGR of 10.9%.
• China market is anticipated to grow at a CAGR of 10.5%.
• India emission control catalyst market is expected to grow at a CAGR of 8.7%.
• Japan market is all set to grow at a CAGR of 6.1%.
• On the basis of application, mobile equipment segment is expected to hold the largest market share, growing at a CAGR of 8.8%.
• On the basis of end use, OEM segment is expected to have the highest market share, and is expected to grow at a CAGR of 8.4%.

Competitive Landscape

The major players operating in the market are focusing mainly on the activity of acquisitions. Looking at the growth of automotive and construction sectors especially in the developing countries, the manufacturers are acquiring the local players. This is owing to the fact that they would be well versed with the target market.