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Growth Market Reports Analysis on Luxury Bicycles

The bicycle is one of the most versatile vehicles that offers an environmentally friendly, flexible, and healthy form of transport. Earlier bicycles were considered efficient, affordable, and convenient means of commuting. Today bicycles have become more of a lifestyle and fitness product. With the increasing demand for bicycles for fitness and lifestyle and growing technological advancements, companies are heavily investing in designing and innovating luxury bicycles.  

Why Luxury Bicycles are Expensive?

As the name suggests luxury bicycles, these bicycles are made up of high-quality and costly materials such as titanium and carbon fiber. Titanium and carbon fiber are used in luxury bicycles as they are lighter and stronger, offering speed and durability to bicycles and making them ideal for racing. We will further discuss some reasons in detail why luxury bicycles are expensive.

  1. Limited Edition: Luxury bicycles are manufactured as a limited edition which makes them expensive. Prominent players in the market are manufacturing limited luxury bicycles like Lexus manufactured only 100 units of F Sport Road bikes, which increases its price. 
  1. Brand Loyalty: Brand loyalty is powerful and it can often result in consumers paying more for Bicycles. The preference of people to pay a premium for a bicycle from a well-known and trusted brand makes luxury bicycles expensive. 
  1. Taxes and Duties: Luxury bicycles are majorly imported as very countries manufacture luxury bicycles. Import duties on imported products and import taxes add a significant amount to the final price of a luxury bicycle.
  1. Supply vs. Demand: Luxury Bicycles are high in demand due to enhanced quality and features but the supply of these bicycles is relatively low owing to limited production. This leads to higher prices, as producers charge more for their products.

Major Components of Luxury Bicycles

Luxury bicycles have unique features to traditional bicycles due to the variety of components used in the manufacturing of these bicycles. Here we will see some of the components that are used in luxury bicycles.

  1. Carbon fiber: Carbon fibers are utilized in luxury bicycles to make frames as they make the lightest bike frames, which increases the speed and velocity of bicycles. Manufacturers of luxury bicycles use this material as it allows them to adjust the compliance and stiffness of frames by aligning the carbon layers in varying ways.
  1. GPS Computers: Luxury Bicycles are equipped with GPS computers which provide riders with a wide amount of information from speed to heart rate. Computer GPS allows riders to plot or download routes on computers to avoid getting lost. It is also used to share riders’ data such as location, travel time, oxygen level, and others. 
  1. Electronic Groupsets: Electronic groupsets are provided in luxury bicycles to remove the manual adjustment of gear shifting. It uses wires or a wireless signal between the shifter and the derailleurs to communicate as it depends on a battery and motor.

Top Companies in Luxury Bicycle Space

Major market players are adopting key strategies such as mergers and acquisitions, product development, geographical expansion, and other strategies to increase their demand for luxury bicycles. Below this, we have discussed in detail some luxury bicycle manufacturing companies. 

  1. Trek Bicycle Corporation: Founded in 1976, it is the world’s largest manufacturer of bicycles sold by specialty retailers. The company sells close to a million bikes a year. Recently Trek Bicycle Corporation launched FX Sport 6 with the added benefit of a flat handlebar for additional comfort and control. It has a 400 Series OCLV Carbon frame, Bontrager carbon wheels, and a high-quality Shimano drivetrain, which makes it ideal for fitness riders. 
  1. Cervélo Cycles: Founded in 1995, by Phil White and Vroomen is a manufacturer of racing and track bicycles. It uses CAD, computational fluid dynamics, and wind tunnel testing to produce the best bicycles for the road. Recently, Cervélo Cycles launched the CERVELO ASPERO AXS DISC GRAVEL BIKE. It has reserve carbon-rimmed wheels, which offer aerodynamic advantages to bicycles to boost their speed. It has SRAM’s wireless technology, which provides an efficient and fast way to travel across any terrain.
  1. The Moulton Bicycle Company: Founded in 1962 by Alex Moulton is the original manufacturer of small-wheeled, full-suspension bicycles. This bicycle has a unique design with various features that set it apart from other bicycles. 

Future Aspects of Luxury Bicycles 

The introduction of foldable electronic bicycles created a lucrative future for luxury bicycles. Companies are heavily investing in foldable bicycles and electronic technology to launch their bicycles with these features. Recently, Svitch Bike has launched electric bicycles that come with smart features and foldable structures. It offers a speed of up to 80 kilometers per hour and has a 36V battery pack.

The introduction of bicycles with all-wheel drive opened a new gate for luxury bicycles. Recently GMC a luxury automotive brand introduced the GMC Hummer electric all-wheel drive. The top speed of this bicycle is claimed to be 45kmph and it has 160Nm torque. The continuous advancement in the bicycle world shows a potential future for luxury bicycles.

Conclusion

Luxury Bicycles offer a unique blend of style, performance, and craftsmanship to cater to the needs of enthusiastic cyclists. These bicycles have become an expression of individuality and a lifestyle and fitness product. These bicycles give a premium cycling experience and are expensive as they use cutting-edge materials and have exquisite or attractive designs. 

Luxury bicycles are manufactured by the use of various components such as carbon fiber, GPS computers, and electronic groupsets. The future of luxury bicycles is going to change drastically with the introduction of foldable, electronic, and all-wheel drive bicycles. The major companies in the market such as Trek Bicycle Corporation, Cervélo, and others are heavily investing in product development and geographical expansion to attract consumers from all around the world and to increase their sales. 

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