India is the second-largest producer of bicycles with 2.2 crores units sold every year.
India is the second-largest producer of bicycles with 2.2 crores units sold every year. Out
of which major demand was from rural areas, where people usually use bicycles
to commute but now as the development happens, people are switching to motor
vehicles which are a faster way to commute.
The demand of
kids and geared bicycles account for around 45% of the total sales and now it
is expected to hit around 55% to 60% said Mr. K.B. Thakur, General Secretary
All India Cycle Manufacturers Association.
It all seems
that the cycle industry which was previously growing at 4% to 5% annually, is
now expected to grow at 15 % to 20% annually lead by first-time users.
Not only in India, all across the world, demand in cycles increased and all is happening as
people are avoiding using public transport to maintain the norms of social
distancing. Countries like Mexico are adding extra lanes for bicycles, Mexico
added 70km of extra lanes for bicycles only. The demand in the USA has been
seen a 121% increase in bike sales. Bogota has a plan to increase the city’s
biking network by 50%. Budapest added temporary bike lanes and reduce bike
rentals so that people prefer cycling over public transport. France is also
planning to increase 3% of daily commuters by cycle to 9% by 2024.
The demand that
is surged in this time is facing a constraint of the disrupted supply chain.
Industries are working only with two-third or at some places, it is operating
with one-third workers only which limits the production of cycles and the
industry is not able to meet the demand, and customers have to face a wait time
of 1 week and at some places, it is of 2.5 months also. Although, major of the
parts of cycles are made in India, so we can expect that the industry will meet
the demand shortly.
Cycles is not a necessity product (Not for all), it is just in trend now. Also, it has a good impact on the environment as it doesn’t contribute significantly to pollution levels. The only thing that the industry wants to know is that is it going to fade away with time or it is going to last long and will settle as the new normal.
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