Listen to Queen's song "Bicycle Race" from their 1978 album, Jazz, and you'll have a perfect description of an enthusiast's yearning for a bicycle. The bicycle needs no introduction as the two-wheeled, simple-to-use means of transportation has continued to be popular since its creation in the 19th century.
That popularity gave way to the bicycle industry. It is a continuously growing industry, and according to expert analysis, it is projected to be worth $127.8 Billion by the end of the decade.
The projected growth for the industry is backed up by economic factors such as:
- Soaring fuel prices
- Various fees for cars
- Commuting woes
These problems for the everyday person make it necessary to purchase a bicycle or an electric bicycle (e-bike). They are easy to use and maintain, don't take up lots of road space, and are eco-friendly, easily modifiable, and fun to ride. From city bikes to mountain bikes, there's always one that can meet your needs.
What Lies for The Future of the Bicycle Industry?
The bicycle industry always has room for improvement and can reinvent the wheel with new technologies. With new and practical technology comes trends that will dictate the industry’s future. Some of these are:
E-Bikes - An e-bike is steadily becoming people's choice of commuting because it is fast, nimble, reliable, easy to operate, and doesn't require a driver's license. It's becoming a worthy alternative to motorcycles and cars as it only needs to be charged and does wonders for the environment.
Customization - Stock bikes are great and all, but there's something about having something that is distinctly and uniquely yours. Some shops or brands allow customers to mix and match parts to build their bikes. With the availability of 3D printed materials, your business can offer unique and inexpensive features that your customers may find indispensable.
Adaptive Bicycles - People with disabilities deserve as much enjoyment and freedom as anyone. New technology and sensible designs make it possible to manufacture bikes that provide equity to people with special needs.
Sustainability - Cycling aside, new manufacturing practices help reduce our carbon footprint and negative environmental impacts. The processes could entail the use of eco-friendly materials and recycled components.
Stationary Bikes - Some don't have the leisure of going to different locales, so the way to stay close to the hobby and be fit is stationary biking. It's a trend that can be further enhanced with apps and platforms like virtual reality.
Lead the Race for Innovation
With the current trends, you should know where the industry should go. Use them to help you innovate and create a trend yourself.
We have a library of bicycle industry case studies with solutions from various brands you can reference. Utilize all the solutions you may find relevant to refine existing bicycle technologies or create new ones that have never been tried before.
