How big will Giant become? If analyst predictions are to be believed the Giant in cycling could become a whole lot bigger. Giant Manufacturing Co. is the world’s largest maker of bicycles by sales, and according to Bloomberg News this week is looking at the expanding Chinese market.
While China has long had a bicycle culture, much of it has relied on low-end bicycles, but rising incomes and greater awareness about fitness are sell pricier models. This trend ironically comes just as automobiles gain popularity in the increasing upscale nation.
But as it is often said, a billion people can’t be wrong. And for a bicycle manufacturer that is potentially a lot of potential riders. China is also now the single-largest market for bicycles and much of the demand is now on mountain bikes rather than cheap commuter rides.
It is also worth noting that auto sales have spiked, and China actually surpassed the United States in 2009 as the world’s largest market for new vehicles as auto sales jumped by more than five times just in the last decade. The question now is whether bicycle demand will increase at anywhere near that rate?
[Via Bloomberg: Bike-Maker Giant Says Fitness Lifestyle Boosting China Sales]