With projected annual growth of about 5.3% for the 2001-2010 period, the world bicycles market could surpass $61 billion by 2010, according to a report by Global Industry Analysts Inc.
Asia-Pacific, with a 47% market share last year, forms the largest market. The region is also expected to record annual growth of 6.3% during the same decade.
Adult bicycles account for about 44% of the total. And the sports bikes market is forecast to grow by 6.15% annually from 2001-2010. Mountain bikes and all-terrain bicycles make up two thirds of total sales.
Global Industry Analysts Inc. publishes off-the-shelf market research.