Handcycle Market Outlook – 2027
The handcycles are a form of bicycles that allows the rider to propel by using hands rather than feet pedal. Most handcycles have three wheels containing 2 coasting rear wheels and one wheel in the front which is used to steer and power the bicycle. Moreover, handcycles comes in variety of styles according to the end-use of consumers. The handcycles are widely adopted for health activities as it provides exercise and maintains the health in active lifestyle. Additionally, the handcycles are also suitable for disabled people. The basic difference between conventional cycle and handcycle is that the pedals of the handcycle is positioned in the hand instead of feet.
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COVID-19 scenario analysis:
- The novel coronavirus is possessing a burgeoning threat on economies. Besides the shutdown of industries has impacted in revenue generation and recession.
- Manufacturing firms are looking to position themselves for recovery and will need to adapt to faster industry cycles and shorter planning.
- Also, with lockdown measures, the fitness activities have halted.
- Moreover, the need for fitness equipment will rise significantly post lockdown. This will gravitate consumers to buy handcycles.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rising obesity problems amongst people is primarily driving the handcycle market. Additionally, rising fitness concerns among consumers is propelling the market growth. Besides, increasing demand for racing handcycles is favoring the handcycle market growth. Moreover, technological advancements are anticipated to proliferate the market of handcycle. However, volatile raw material prices are anticipated to restrain the market growth. Furthermore, increasing adoption of handcycles from physically disabled consumers segment is surging the market growth.
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The handcycle markettrends are as follows:
Olympic events to increase the consumer base
The Olympic events have wide popularity across the world. Moreover, the viewers of Olympic events have proliferated with rising number of events. Besides, inclusion of sports for physically disabled people have gained significant viewer base. Additionally, with inclusion of sports in Olympics, the sales of accessories and equipment used in the sport also increases. The para-cycling event is one such event which has aided in growth of handcycle. The handcycling classification in Paralympics was included for the first time at the 2008 Summer Paralympics.
Electric powered handcycle to drive the growth
Over the years, the electrification of vehicles has gained significant momentum in the automotive industry. Moreover, this trend is also witnessed in electric handcycles. The electric powered handcycles use motive force from electric source of energy. The electric powered handcycles have benefited hugely to the physically disabled people. Owing to the popularity gained, the manufacturers have accelerated their activities to develop the electric handcycles. For instance, in 2017, Wolturnus launched electric powered handcycle Wolturnus Fatbike. The Fatbike was developed in cooperation with Hjelpmiddeleksperten. The off-road electric handcycle comes with electrical support – a 250 W motor with a range of up to 60 km.
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Key benefits of the report:
- This study presents the analytical depiction of the handcycleindustry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed handcycle marketanalysis based on competitive intensity and how the competition will take shape in coming years.
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