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What is the Bicycle Market Size & Growth Rate in India?

The market is likely to grow due to the increased emphasis on fitness and a growing awareness of environmental sustainability by urban customers. Additionally, government initiatives to improve existing infrastructure and the increased adoption of shared mobility options will further support this tremendous growth.

Key Growth Drivers

• Growth in bicycle-sharing services.
• Growing health awareness and fitness lifestyle.
• Increased demand for last-mile connectivity in urban and semi-urban areas.
• Growth of dedicated cycling tracks and cycling-friendly infrastructure in Indian cities.
• Affordability and lower maintenance costs compared to motorized alternatives.

India Bicycle Market Trends聽

The India bicycle market is likely to witness a dynamic transformation, with bike purchase moving from budget ranks to premium and smart bicycles for youth and urban consumers. Growth in electric bicycles is being witnessed, advancements in smart bikes connected with IoT and a shift toward sustainable mobility options are changing consumer perception. The bicycle manufacturing is also growing with a "Make in India" initiative, resulting in higher localization.聽

Major companies in the India Bicycle market

• TI Cycles of India聽
• Atlas Cycles Ltd.
• Avon Cycles Ltd.聽
• Hero Cycles Ltd.聽
• AlphaVector Pvt. Ltd.

Frequently Asked Questions About the Market Study (FAQs):