Since COVID 19, Indian bicycle market saw huge growth both in terms of domestic sales and exports. According to MarketResearch.com, a total of 11.44 million units of bicycles were sold in India in FY 2022. The Indian bicycle industry has the potential to increase market size by 3 times in the next 10 years as per a KPMG report. India is the second-largest manufacturer of bicycles in the world and has been pedalling to decadal high demand growth. Given the global boom in this industry, manufacturers of bikes and related components are re-organising supply chains to meet the rising demand and making them more affordable.
'CFOSE' India – International Cycle, Fitness & Outdoor Sports Expo’s 14th edition will see Messe Frankfurt India’s strategic partnership by being the management consultant of the show. This will bring together Messe Frankfurt’s local expertise along with the world renowned Eurobike Exhibition which is part of the Messe Frankfurt’s global portfolio. A winning combination of expertise, knowledge of the market, global reach, brand strength, and speed will strengthen the CFOSE’s position in the future-facing markets for bicycles and e-bikes.
CFOSE is the most focused platform for the bicycle industry for networking, meeting new dealers and buyers while observing the latest trends and innovations. Since its inception in 2013, CFOSE has played a major role in introducing global perspectives to the present component-producing SMEs that are largely informal and unorganised, using conventional and mostly manual technology. The fair has since been on an upward trajectory attracting a record 85+ exhibitors from India, China, France and Holland last year. The 2024 edition, which will take place from 1st to 3rd February in Ludhiana of India, is set to be another sell-out with exhibition space rising to 14,500 sqm to accommodate continued growth.
Explaining the strengths that Messe Frankfurt India will bring in attracting more participation from Indian and international exhibitors, Mr Raj Manek, Executive Director & Board Member, Messe Frankfurt Asia Holdings Ltd says: “The strategic tie up between Messe Frankfurt India and Annex Media Marketing Network will help develop a focused concept for the bicycle industry and deliver a much more far reaching trade visitor audience from across pan India for the high growth domestic market. The tie up will also increase the Indian manufacturers’ opportunities globally through internationally acclaimed Eurobike Exhibition in Frankfurt. With our strong network across India and the globe, we bring a vast amount of experience in building bridges for Indian companies to attend trade fairs overseas.”
Sharing his views on the tie-up, Surinder Brar, Managing Director, CFOSE says: “Annex Media is delighted to associate with Messe Frankfurt India as a strategic partner for one of India's largest bicycle exhibition, ‘CFOSE’. This will not only benefit a particular entity, but the entire cycle industry. India has a huge bicycle market and through this tie-up with Messe Frankfurt India, we are sure to open international doors for India’s bicycle market. Messe Frankfurt also has the world's largest bicycle show ‘Eurobike’, through which Indian manufacturers will get exposure in the international bicycle industry. With our joint efforts we trust that CFOSE will become the biggest bicycle exhibition in India.”
The cycle market in India
India’s bicycle industry is pedalling to a decadal-high demand growth of 20% this fiscal year, with sales likely to touch 1.45 crore units compared with 1.21 crore units last fiscal year. The covid-19 pandemic had spurred demand for bicycles, owing to improving fitness consciousness and leisure requirements. At present, there are 100+ international brands in India and the industry has the potential to grow 3 times from USD 1.3 billion to USD 3.5 billion by 2030. The future of the electric bicycle (e-bike) market in India looks promising with opportunities in the areas of travelling, exercise/fitness, and recreational activities. The e-cycle market in India was valued at USD 1.02 million in 2020 and is expected to double to USD 2.08 million by 2026, projecting a CAGR of 12.69 per cent during the forecast period (2021-2026).
Cycles are looked as products of national importance & sustainable future. They deliver on the 11 out of 17 sustainable development goals and cycling shifts towards a better economy, society and planet for all. Bicycle uses are not only limited to commuting and leisure, but also for utility, services, cargo, military, touring, fitness, etc.
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Background information: Sustainable Messe Frankfurt
The Messe Frankfurt Group is one of the world’s leading trade fair, congress and event organisers with their own exhibition grounds. With a workforce of some 2,200* people at its headquarters in Frankfurt am Main and in 28 subsidiaries, it organises events around the world. Group sales in the financial year 2022 were around €450 million*. We serve our customers’ business interests efficiently within the framework of our Fairs & Events, Locations and Services business fields. One of Messe Frankfurt’s key strengths is its powerful and closely-knit global sales network, which covers around 180 countries in all regions of the world. Our comprehensive range of services – both onsite and online – ensures that customers worldwide enjoy consistently high quality and flexibility when planning, organising and running their events. We are using our digital expertise to develop new business models. The wide range of services includes renting exhibition grounds, trade fair construction and marketing, personnel and food services.
Sustainability is a central pillar of our corporate strategy. Here, we strike a healthy balance between ecological and economic interests, social responsibility and diversity.
For more information, please visit our website at: www.messefrankfurt.com/sustainability
With its headquarters in Frankfurt am Main, the company is owned by the City of Frankfurt (60 per cent) and the State of Hesse (40 per cent).
For more information, please visit our website at: www.messefrankfurt.com
*Preliminary figures for 2022