Bicycle Industry In India 2019

More and more people are beginning to turn to cycling not only for effective low cost transportation in the face of traffic congestion and unstable oil prices but also as a recreational and fitness activity.

Bicycle industry in india 2019. Sales for passenger vehicles including cars suvs and even two wheelers witnessed a major decline last year dropping at its lowest in two decades. Apart from the increasing consumer preference toward recreational and adventure activities the adoption of e bike applications in several sectors like logistics and e bike rental services is. And developing countries bicycle penetration in india remains low. The e bike market was valued at usd 15 42 billion in 2019 and it is expected to witness a cagr of 7 49 during the forecast period 2020 2025.

Click for more details. An increase in india s import of bicycles under the hsn code 871200010 from bangladesh and sri lanka clearly reflects that chinese low cost bicycle manufactures are able to enjoy duty free. The bicycle industry is flourishing day by day and here are the top ten bicycle companies of india. Two wheeler sales dropped once again in the month of april.

This is a de growth of 11 7 per cent during fy 2019 20 as compared to the previous financial year. While bike rentals a 300 million market in india seem to be working the point a to point b solutions or last mile mobility a 5 billion market is a cash burner for most two wheeler. Here we enlist the top 10 best selling popular and widely known bicycle brands in india in 2019 and the countdown follows. Moreover these countries have started hosting numerous cycling tournaments which in turn will increase the popularity and demand for sports bicycles.

The bicycle industry is an industry that is growing worldwide and expected to hit 65 billion in global sales by 2019. Apart from the economic slump in the indian corporate sector financing issues elections and a negative buying sentiment heavily. In this context it was repeatedly felt by the various cycling stakeholders. The indian auto sector had a forgettable year 2019 as the industry soldiered on despite one of the worst periods.

Although india s national urban transport policy 2006 emphasizes the need for safe cycling infrastructure for pan india promotion of cycling the same is yet to be realized in urban and rural areas. China japan australia india and south korea are some of the top contributing countries in the region.