Bicycle

The bicycle market in India is expected to register a CAGR of more than 8% in terms of value during the forecasted period of 2016-17 to 2021-22. The key domestic players in the bicycle industry are Hero Cycles, Avon Cycles, TI Cycles, Atlas, Firefox Cycles and Starkenn Sports. The top two players together constitute approximately 50% of the market revenues. Likewise, the share of all other key players is given in the report in value and volume terms both. The bicycle industry has remained stagnant for a long time, but the winds are changing now, a lot is happening in the industry and in the country, due to which the market is set to grow in the future. The efforts made by manufacturers to grab the market through interventions like entering into joint ventures with foreign brands, revisions in the marketing and distribution strategies, introduction of wider product portfolio and innovations like carbon frames, etc. have impacted the market positively. On the other hand, the lifestyle changes in the society and inclination towards premiumisation in bicycles have also contributed to changed outlook towards bicycles.

INDIA: PEDALING TOWARDS GREENER DESTINATIONS

A growing consciousness is sweeping the country. The concern for the environment is forcing less-polluting measures and bicycling as a mode of alternate transport is fast emerging as a popular option. Some corporate parks and academic institutions with large campuses have restricted the entry of automobiles while in some cities corporate executives are cycling to work. The need for greater fitness is creating a movement towards cycling as a regular means of keeping fit. The market has shown an upward trend in customers due to an increased interest in leisure cycling, weekend biking and mountain biking. Fitness Equipment and Outdoor sports are fast becoming popular incorporates for team building & de-stressing activity. More and more Indians are taking weekend getaways & adventure holidays. A mounting appetite for global brands. There is a growing demand in India for a diversified range of bicycles of high quality, advanced features, enhanced aesthetics and durability. The Indian customer is now aware of developments in the international cycle industry and is demanding bicycles with world class features and accessories. One of the major segments where the past five years have witnessed a tremendous surge in sales for high-quality cycles is for children up to eight years of age. The traditional seasonal market for kids’ bikes has developed into a very profitable business with consistent demand all year round. Bianchi, Canondale, Ducati, Schwinn, Mongoose, GT, Trek, Focus, Giant, La, Raleigh, Merida, Orbea, KHS, Huffy, Dahon, Specialized, Scott, and Univega have already been introduced in India and are available in major cities. Similarly the discerning Fitness and outdoor sports enthusiast wants latest, most secure, strong and hardy lightweight fitness and outdoor equipment – which is also aesthetically designed in looks and the apparel to be multi-tasking and easy to use.

GEAR UP FOR NEW BUSINESS OPPORTUNITIES

CFOSE 2021 Ludhiana will provide a platform for international manufacturers to interact with domestic distributors, retailers and end users for exploring the immense business opportunities of the Cycle, Fitness & Outdoor Sports market in India. At CFOSE- 2021 Ludhiana a wide range of internationally acclaimed products will emerging is on display to create more awareness. Unlike several countries in the world where substantial bicycles are sold through department stores and Sports goods chains, India traditionally sells through exclusive bicycle outlets. The distribution chain begins with a wholesaler who in turn channelizes the inventory to distributors, and thereon to dealers and retailers who become the final touch-points for bicycle customers across the country. A few importers also choose the unconventional internet sales through portals like eBay, flipkart.

Fitness Equipment

Increasing number of gyms and health clubs coupled with government efforts towards promoting physical fitness are driving the growth of fitness equipment market in India. In 2017, the Central Government of India has ordered all its offices to facilitate gym facilities. In addition to this, the Department of Personnel and Training (DoPT) is promoting gym set-ups in offices by providing monetary compensation to offices. Additionally, growing consumer preferences towards physical fitness due to surging lifestyle diseases is further pushing the market growth. In terms of market sub-segments, treadmills and stationery bikes emerged as the most preferred cardiovascular training equipment in 2016, however, on account of higher calorie burn ratio, elliptical cross trainers are expected to register higher growth over the coming years. According to 6Wresearch, India fitness equipment market is projected to grow at a CAGR of 15% during 2017-23. The Western region bagged highest revenue share in 2016 with Maharashtra being the major contributor towards the growth of fitness equipment market in particular region. However, over the coming years, the Northern region is projected to exhibit highest growth on account of higher adoption across key states including Punjab, Haryana, Delhi/NCR, and Uttarakhand. Among different end-user applications, gyms and health clubs bagged highest revenue share followed by commercial applications. In-house fitness centers and health clubs are gaining popularity in fitness equipment market. Hotels, offices, public corporations and educational institutes are offering gym facilities within their premises. Additionally, the commercial segment is forecast to exhibit highest growth rate over the coming years. The report thoroughly covers fitness equipment market by types, end user applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers which would help the stakeholders to decide and align their market strategies according to the current and future market dynamics.

Electric Vehicle

Battery-ing down barriers: why electric vehicles are the future of transport in India and the world. Switching to an entirely electric eet can help reduce 1 gigatonne of carbon dioxide emissions by 2030, and save India $330 billion by cutting oil imports. The explosive economic growth in the last few decades in India has given us much to celebrate, but it has also had its unpleasant consequences. Today, 19 out of the 35 most polluted cities in the world are in India. For the last two years, New Delhi has had the ignominy of being the most polluted city in the world, as a conuence of factors turns the capital’s environment into a haze of smog and potentially lethal pollutants. A Green peace India report indicates that 47 million children under the age of 5 years are residing in areas with hazardous pollution, especially in urban areas. While various causes and solutions are discussed, it is well acknowledged and understood that 50-90 percent of the pollution in densely-populated urban areas is vehicular. According to the Economic Survey conducted in India over the last year, an increase in available disposable income among citizens has led to an increase in the purchase of vehicles and a reduction in the use of public transport. Roads are the dominant medium of travel in the country, and as of 2016 there were 229 million vehicles on the road. With over 3 million vehicles sold in 2016-17 in the fourwheeler segment alone, the total number of vehicles burning petrol and diesel, and spewing dangerous fumes into the air is over 230 million. Despite the increasing pollution in India’s cities, vehicles that run on conventional fossil fuels continue to be sold massive numbers. How then, can we save our cities from pollution? concerted effort to develop a robust infrastructure around electric vehicles. Once these elements are in place, the market can move to reduce the cost of electric vehicle ownership and help bring about a paradigm shift in how people in India perceive and use transportation.