This report analyzes the worldwide markets for Bicycles in Millions of US$. The major product segments analyzed are Adults Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles, & Specialty Bicycles), Children's Bicycles, Sports Bicycles, and Bicycle Parts & Accessories. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Annual forecasts are provided for each region for the period of 2001 through 2015. A ten-year historic analysis is also provided for these markets with annual market analytics. The report profiles 536 companies including many key and niche players worldwide such as Accell Group N.V., Amer Sports, Bell Sports Corporation, Caloi, Inc Campagnolo SRL, Cannondale Bicycle Corporation, Currie Technologies, Inc., Cycleurope AB, Giant Bicycles Inc., Hero Cycles Ltd, Huffy Bicycle Company, Merida Industry Co., LTD., Miyata Industry Co. Ltd., Pacific Cycle Inc., Raleigh UK Ltd., SRAM Corporation, Shanghai Forever Import & Export Co., Ltd., Shanghai Phoenix Company Ltd., Shenzhen China Bicycle Co. (Holdings) Ltd., Shimano Inc., Specialized Bicycle Components, Inc., Sunn Bicycle, Tandem Group PLC, Trek Bicycle Corp., Tube Investments of India Ltd., and Yuh Jiun Industrial Co., Ltd. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

BICYCLES									MCP-2776
A GLOBAL STRATEGIC BUSINESS REPORT


                                              CONTENTS


  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-2
       Quantitative Techniques & Analytics                              I-3
      Product Definitions and Scope of Study                            I-3
       Adult Bicycles                                                   I-4
        Mountain Bicycles                                               I-4
        Hybrid Bicycles                                                 I-4
        Touring Bicycles                                                I-5
        Specialty Bicycles                                              I-5
       Children's Bicycles                                              I-5
       Sports and Road Racing Bicycles                                  I-5
       Parts and Accessories                                            I-5


 II. EXECUTIVE SUMMARY

  1. Introduction                                                       II-1

  2. Industry Overview                                                  II-2
      Table 1: World Market for Bicycles (2006): Percentage  Share
      Breakdown of Production by Select Countries-  China, India,
      Brazil, and Others(includes  corresponding Graph/Chart)           II-2
      Production Bases Shift to Southeast Asia                          II-2
      Factors Affecting the Bicycle Market                              II-3
      Characteristics of the Industry                                   II-3
       Regional Usage Patterns                                          II-3
       Rising Oil Costs: Stimulus for Bicycles                          II-4
       Composite Industry                                               II-4
       Transforming from Traditional Manufacturing to  High-tech
        Industry                                                        II-4
       Electric Bicycles                                                II-5

  3. Product Overview                                                   II-6
      Adult Bicycles                                                    II-6
       Mountain Bicycles                                                II-6
        Demand for Mountain Bicycles                                    II-6
        Mountain Bicycle Models Based on Material Used                  II-7
       Hybrid Bicycles                                                  II-7
       Touring Bicycles                                                 II-8
       Specialty Bicycles                                               II-8
      Children's Bicycles                                               II-8
       Juvenile BMX Bicycle Models Based  on Materials Used             II-8
      Sports and Road Racing Bicycles                                   II-8
       Types of Road and Specialty Bicycles Based  on the Material      II-8
      Other Bicycles                                                    II-9
       Bamboo Bicycles: Take a Ride on Your Imaginations                II-9
      Parts and Accessories                                             II-9
      Electric Bicycles: An Emerging Segment                            II-9
       Advantages of an Electric Bike                                   II-10

  4. Distribution Channels                                              II-11

  5. New Uses of Bicycles                                               II-12

  6. Bicycle Offerings from Automobile Companies                        II-13

  7. Regulatory Environment                                             II-14
      The EU Lifts Anti Dumping Sanction on  Indonesian Bicycles        II-14
      CITT Probes into Imports from Vietnam                             II-14
      EC Investigates into Vietnam's Imports                            II-14

  8. Product Innovations/Introductions                                  II-15
      Sovereign Bicycles Rolls Out Bicycles in Kerala                   II-15
      Atlas Cycles Introduces E-bike                                    II-15
      Specialized Bicycle Components Releases New  Version of S-
       Works Tarmac                                                    II-15
      Cartoon Network Enters the Arena of Sporting Goods                II-15
      SwissBike Launches New SwissBike Brand  Bicycle Line              II-15
      Alenax Introduces Bikes with New Pedaling Techniques              II-16
      Cannondale Bicycles Unveils Two New Models of  AIDS/LifeCycle
       Bikes                                                            II-16
      Anaerobic Zone Launches Bike Bikini                              II-16
      Marin Launches New Women's Fit Geometry Bikes                     II-16
      Hayes Disc Brakes Introduces Improved Version  EC Trail Brake     II-16
      Dynamic Bicycles Launches New Generation SDTS  for Bicycles       II-17
      Rocky Mountain Launches FORM Tubing                              II-17
      Avon Cycles Rolls Out Electronic Bikes                            II-17
      LA Bicycles (Thailand) Unveils Electric Scooters  And Bikes       II-17
      Currie Technologies Introduces Electric Bicycles                  II-17
      Aurora Cycle Launches Two Product Line Ups                        II-17
      CIDETEC Launches Innovative Prototype Electric  Bicycle           II-18
      Cadillac Bicycles Rolls Out New State-Of-The-Art  Bicycles        II-18
      TI Cycles Introduces New Line of Kid's Bicycles                   II-18
      Firefox to Launch Premium Bicycles in India                       II-18
      Electric Version of Sting-Ray Launched                            II-18
      Cadillac Launches New Bicycle Models                              II-19
      Pacific Cycles Launches New Sting-Ray                             II-19
      Mongoose Launches Ritual                                          II-19
      Multivac Unveils Battery-Powered Bicycle                          II-19
      TI Launches New Range of Mountain Terrain Bikes                   II-19
      TI Inaugurates its First Cycleworld Outlet                        II-19
      Shanghai Greenlight Electric Bicycle Launches  Powerzinc Electric II-20
      Smith & Wesson Introduces Mountain Bikes in  Three Models         II-20
      Diggler Unveils a Hybrid Machine                                  II-20
      Avon Introduces New Range of Bicycle Models                       II-20
      Dorel Launches a New Line of Bicycle Ranges                       II-20
      Ford Vietnam Launches Electric Bicycles                           II-21
      Huffy Launches New Brand of X-Games Bicycles                      II-21

  9. Recent Industry Activity                                           II-22
      LA Bicycles Plans to Expand Its Presence In the Market            II-22
      Scott Newton Acquires Poison Spider Bicycles                      II-22
      Accell Group Expands Production at Hungarian Plant                II-22
      Jagwire Enters Distribution Pact with Norco                       II-22
      Accell Group Acquires Brasseur                                    II-22
      HB Performance Systems Takes Over Answer Products                 II-22
      Escape Velocity Awards 3-Year Supply Contract to  Louis
       Garneau Sports                                                   II-23
      Hayes Bicycle Group Takes Over Wheelsmith  Fabrications           II-23
      Dynamic Bicycles Acquires Majority Stake in Sussex  Enterprises   II-23
      Anhui Saifei Motor Car Sets Up Electric Bicycle  Production
       Facility                                                         II-23
      Sovereign Bicycles Forms a Joint Venture with  LA Thailand        II-23
      Hero Cycles Enters Collaboration Agreement with  Ultra Motors     II-24
      Seattle Bike Supply Signs Distribution Agreement  with Ten
       Pack Distribution                                                II-24
      HB Performance Systems Takes Over Sun  Metal Products             II-24
      Jalax Inks Joint Venture with Accell Group                        II-24
      Norco Products Enters Distribution Pact with  Light & Motion      II-25
      Pacific Cycle Enters into Partnership with Montague  Inventive
       Technologies                                                     II-25
      Trek Bicycle Corp Enters Agreement with Firefox Bikes             II-25
      Orange Sport Supply Becomes Distributor for Magura  Disc Brakes   II-25
      Tandem Group Shuts UK Based Manufacturing Facility                II-25
      Hayes Bicycle Selects Seattle Bike for Bicycle  Distribution      II-25
      Bell Sports Takes Over Bell Racing                                II-25
      Giant to Establish Electric Bicycle Production  Linein China      II-26
      Giant China Loses EU Anti Dumping Petition                        II-26
      Atlas Products to Establish New Bicycle Plant                     II-26
      ACCC Orders Recall of Retro Style Bicycles                        II-26
      Trek to Expand Chinese Operations                                 II-26
      Giant to Supply Carbon Fiber Bicycles to Colnago                  II-26
      Cannondale Bicycle to Acquire Sugoi  Performance Apparel          II-27
      Trek Adopts CFdesign                                              II-27
      Dorel Industries Acquires Pacific Cycle                           II-27
      TI Procures Rights to Market Bicycles under  Hercules Brand       II-27
      Land Rover Licenses its Brand                                     II-27
      Atlas Locks a Deal with Forever for Imports                       II-27
      Leading Brands Inc Inks Licensing Agreement with Trek  Bicycle
       Corp                                                             II-27
      Accell Group Declares Acquisition of Tunturi                      II-28
      Hero Cycles in Alliance with National Panasonic                   II-28
      Monark Exercise Wins Contract from Posten                         II-28
      Ford Motor Plans Termination of Power-Assisted  Bicycle
       Production                                                       II-28
      Velox Plans Re-entry into Peruvian Bicycle Market                 II-28
      Wind Point Acquires Brunswick Bicycles                            II-29
      Montague Corp Partners with Mitsubishi  Motor Sales of America    II-29
      Diamondback Bicycles Enters Into Agreement with  The Sports
       Authority, Inc                                                   II-29
      Bike-Frame Manufacturer Litespeed Acquires  Tomac Trademark       II-29
      Pacific Cycle Acquires Schwinn/GT                                 II-30
      EP Manufacturing Establishes EP-Bicycles                          II-30
      Shimano Establishes a Production Plant in Karvina                 II-30
      Seattle Bike Supply Recalls 1,400 Children's Bicycles             II-30
      Brunswick Starts Sourcing of Bicycles From Asia                   II-30
      GT Bicycles Collaborates with ThrottleBox Media                   II-30
      Airbomb.com Obtains B2B Order from Ellsworth  Handcrafted
       Bicycles Inc                                                     II-31
      Shimano Inc Plans Increase of Bicycle Parts Capacity              II-31
      Czech Bike Divests Stake in Favorit                               II-31
      New Online Bicycle Retailer Enters US MarketMybike.com  Offers
       Bargain-Priced Bicycle Online                                    II-31
      KTM Acquires LB                                                   II-31
      Motociclo and Radados Enter into a Joint Venture                  II-31
      Bridgestone and Merida Enter into a Comprehensive  Partnership    II-31
      BBF Granted Manufacturing License from Art  Merchandising & Media II-32
      Leisure Concepts and CX Sport/Cycle Express Enter into  a
       Contract                                                         II-32
      Cycle Citi Plans Manufacturing Plant in Bangor                    II-32
      A&J Established a Manufacturing Base in Newtown                   II-32
      Shimano Expands the Production Capacity of  Bicycle Parts
       Subsidiary                                                       II-32

  10. Focus on Select Global Players                                    II-33
      Accell Group N.V. (The Netherlands)                               II-33
      Amer Sports (Finland)                                             II-33
      Bell Sports Corporation (USA)                                     II-33
      Caloi, Inc (USA)                                                  II-33
      Campagnolo SRL (Italy)                                            II-33
      Cannondale Bicycle Corporation (USA)                              II-34
      Currie Technologies Inc (USA)                                     II-34
      Cycleurope AB (Sweden)                                            II-34
      Giant Bicycles Inc (USA)                                          II-35
      Hero Cycles Ltd (India)                                           II-35
      Huffy Bicycle Company (USA)                                       II-36
      Merida Industry Co., LTD. (Taiwan)                                II-36
      Miyata Industry Co Ltd (Japan)                                    II-36
      Pacific Cycle Inc. (USA)                                          II-36
      Raleigh UK Ltd. (UK)                                              II-37
      SRAM Corporation (USA)                                            II-37
      Shanghai Forever Import & Export Co., Ltd. (China)                II-38
      Shanghai Phoenix Company Ltd. (China)                             II-38
      Shenzhen China Bicycle Co. (Holdings) Ltd. (China)                II-38
      Shimano Inc (Japan) (Japan)                                       II-38
      Specialized Bicycle Components, Inc. (USA)                        II-38
      Sunn Bicycle (France)                                             II-38
      Tandem Group PLC (UK)                                             II-39
      Trek Bicycle Corp (USA)                                           II-39
      Tube Investments of India Ltd (India)                             II-39
      Yuh Jiun Industrial Co., Ltd (Taiwan)                             II-40

  11. Global Market Perspective                                         II-41
      Table 2: World Recent Past, Current & Future Analysis  for
      Bicycles by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East, and  Latin
      America Independently Analyzed by Annual Sales  for the Years
      2001 through 2010 in US$ (includes  corresponding Graph/Chart)    II-41

      Table 3: World Long term Projections for Bicycles by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 2011
      through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-42

      Table 4: World Historic Review for Bicycles by Geographic
      Region - US, Canada, Japan, Europe, Asia-Pacific  (excluding
      Japan), Middle East, and Latin America Independently Analyzed
      by Annual Sales for the  Years 1991 through 2000 in US$
      Million (includes corresponding Graph/Chart)                      II-43

      Table 5: World 20-Year Perspective for Bicycles by  Geographic
      Region - Percentage Breakdown of Dollar  Sales for US, Canada,
      Japan, Europe, Asia-Pacific  (excluding Japan), Middle East,
      and Latin America  for the Years 1991, 1995, 2005, 2007 and
      2010  (includes corresponding Graph/Chart)                        II-44

      Table 6: World Recent Past, Current & Future Analysis for
      Adults Bicycles by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East, and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-45

      Table 7: World Long term Projections for Adults Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 2011
      through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-46

      Table 8: World Recent Past, Current & Future Analysis for
      Adults Bicycles by Product Segment - Mountain Bicycles, Hybrid
      Bicycles, Touring Bicycles, and Specialty Bicycles
      Independently Analyzed by Annual Sales for the  Years 2001
      through 2010 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-47

      Table 9: World Long term Projections for Adults Bicycles  by
      Product Segment - Mountain Bicycles, Hybrid Bicycles, Touring
      Bicycles, and Specialty Bicycles Independently  Analyzed by
      Annual Sales for the Years 2011  through 2015 in US$ Million
      (includes  corresponding Graph/Chart)                             II-48

      Table 10: World Historic Review for Adults Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-49

      Table 11: World Historic Review for Adults Bicycles by
      Product Segment - Mountain Bicycles, Hybrid Bicycles,  Touring
      Bicycles, and Specialty Bicycles Independently  Analyzed by
      Annual Sales for the Years 1991  through 2000 in US$ Million
      (includes  corresponding Graph/Chart)                             II-50

      Table 12: World 20-Year Perspective for Adults Bicycles by
      Geographic Region - Percentage Breakdown of Dollar Sales  for
      US, Canada, Japan, Europe, Asia-Pacific (excluding  Japan),
      Middle East, and Latin America for the  Years 1991, 1995,
      2005, 2007 and 2010 (includes  corresponding Graph/Chart)         II-51

      Table 13: World 20-Year Perspective for Adults Bicycles by
      Product Segment - Percentage Breakdown of Dollar Sales  for
      Mountain Bicycles, Hybrid Bicycles, Touring Bicycles,  and
      Specialty Bicycles for the Years 1991, 1995, 2005,  2007 and
      2010 (includes corresponding  Graph/Chart)                        II-51

      Table 14: World Recent Past, Current & Future Analysis  for
      Mountain Bicycles by Geographic Region - US,  Canada, Japan,
      Europe, Asia-Pacific (excluding Japan),  Middle East, and
      Latin America Independently Analyzed  by Annual Sales for the
      Years 2001 through 2010  in US$ Million (includes
      corresponding  Graph/Chart)                                       II-52

      Table 15: World Long term Projections for Mountain Bicycles
      by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East, and  Latin
      America Independently Analyzed by Annual Sales  for the Years
      2011 through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-53

      Table 16: World Historic Review for Mountain Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-54

      Table 17: World 20-Year Perspective for Mountain Bicycles  by
      Geographic Region - Percentage Breakdown of  Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Middle East, and Latin America for  the Years 1991, 1995,
      2005, 2007 and 2010 (includes corresponding Graph/Chart)          II-55

      Table 18: World Recent Past, Current & Future Analysis  for
      Hybrid Bicycles by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East,  and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-56

      Table 19: World Long term Projections for Hybrid Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 2011
      through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-57

      Table 20: World Historic Review for Hybrid Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-58

      Table 21: World 20-Year Perspective for Hybrid Bicycles  by
      Geographic Region - Percentage Breakdown of  Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Middle East, and Latin America for  the Years 1991, 1995,
      2005, 2007 and 2010 (includes corresponding Graph/Chart)          II-59

      Table 22: World Recent Past, Current & Future Analysis  for
      Touring Bicycles by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East,  and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-60

      Table 23: World Long term Projections for Touring Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 2011
      through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-61

      Table 24: World Historic Review for Touring Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-62

      Table 25: World 20-Year Perspective for Touring Bicycles  by
      Geographic Region - Percentage Breakdown of  Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Middle East, and Latin America for  the Years 1991, 1995,
      2005, 2007 and 2010 (includes corresponding Graph/Chart)          II-63

      Table 26: World Recent Past, Current & Future Analysis  for
      Specialty Bicycles by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East,  and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-64

      Table 27: World Long term Projections for Specialty Bicycles
      by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East, and  Latin
      America Independently Analyzed by Annual Sales  for the Years
      2011 through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-65

      Table 28: World Historic Review for Specialty Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-66

      Table 29: World 20-Year Perspective for Specialty Bicycles  by
      Geographic Region - Percentage Breakdown of  Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Middle East, and Latin America for  the Years 1991, 1995,
      2005, 2007 and 2010 (includes corresponding Graph/Chart)          II-67

      Table 30: World Recent Past, Current & Future Analysis  for
      Children's Bicycles by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East,  and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-68

      Table 31: World Long term Projections for Children's  Bicycles
      by Geographic Region - US, Canada, Japan,  Europe,
      Asia-Pacific (excluding Japan), Middle East,  and Latin
      America Independently Analyzed by Annual Sales  for the Years
      2011 through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-69

      Table 32: World Historic Review for Children's Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-70

      Table 33: World 20-Year Perspective for Children's Bicycles
      by Geographic Region - Percentage Breakdown of Dollar  Sales
      for US, Canada, Japan, Europe, Asia-Pacific  (excluding
      Japan), Middle East, and Latin America for  the Years 1991,
      1995, 2005, 2007 and 2010 (includes corresponding Graph/Chart)    II-71

      Table 34: World Recent Past, Current & Future Analysis  for
      Sports Bicycles by Geographic Region - US, Canada,  Japan,
      Europe, Asia-Pacific (excluding Japan), Middle East,  and
      Latin America Independently Analyzed by Annual Sales  for the
      Years 2001 through 2010 in US$ Million  (includes
      corresponding Graph/Chart)                                        II-72

      Table 35: World Long term Projections for Sports Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 2011
      through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-73

      Table 36: World Historic Review for Sports Bicycles  by
      Geographic Region - US, Canada, Japan, Europe,  Asia-Pacific
      (excluding Japan), Middle East, and  Latin America
      Independently Analyzed by Annual Sales  for the Years 1991
      through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-74

      Table 37: World 20-Year Perspective for Sports Bicycles by
      Geographic Region - Percentage Breakdown of Dollar Sales  for
      US, Canada, Japan, Europe, Asia-Pacific (excluding  Japan),
      Middle East, and Latin America for the Years  1991, 1995,
      2005, 2007 and 2010 (includes  corresponding Graph/Chart)         II-75

      Table 38: World Recent Past, Current & Future Analysis for
      Bicycle Parts & Accessories by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan),  Middle East,
      and Latin America Independently Analyzed  by Annual Sales for
      the Years 2001 through 2010  in US$ Million (includes
      corresponding  Graph/Chart)                                       II-76

      Table 39: World Long term Projections for Bicycle Parts &
      Accessories by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East, and  Latin
      America Independently Analyzed by Annual Sales  for the Years
      2011 through 2015 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-77

      Table 40: World Historic Review for Bicycle Parts &
      Accessories by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Middle East, and  Latin
      America Independently Analyzed by Annual Sales  for the Years
      1991 through 2000 in US$ Million  (includes corresponding
      Graph/Chart)                                                      II-78

      Table 41: World 20-Year Perspective for Bicycle Parts &
      Accessories by Geographic Region - Percentage Breakdown  of
      Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Middle East, and Latin America for  the
      Years 1991, 1995, 2005, 2007 and 2010 (includes corresponding
      Graph/Chart)                                                      II-79


III. MARKET

  1. The United States                                                  III-1
      A.Market Analysis                                                 III-1
        Outlook                                                         III-1
        A Primer                                                        III-1
         Growth Drivers In a Capsule                                    III-1
         Facts & Figures                                                III-2
          Table 42: US Bicycles Market: Influence on  Purchase
          Decision (includes corresponding Graph/Chart)                 III-2
        Bicycling - A Popular Sport in America                          III-3
        Bicycling Demographics (2003)                                   III-3
         Table 43: Percentage Cyclists by Gender:  (includes
         corresponding Graph/Chart)                                     III-3

         Table 44: Percentage Cyclists by Age Group:  (includes
         corresponding Graph/Chart)                                     III-3
         Table 45: Percentage Cyclists by Marital Status:               III-4
         Table 46: Percentage Cyclists by Household  Income:
         (includes corresponding Graph/Chart)                           III-4

         Table 47: US Bicycle Market: Types of Bicycles Owned  in
         2000 - Mountain Bike, Road Bike, Hybrid Bike,  Racing Bike,
         Cruiser Bike, BMX Bike, Tandem Bike, Recumbent Bike,
         Electric Bike, and Other Type  (In '000 Units) (includes
         corresponding  Graph/Chart)                                    III-4
        Who's Leading the Pack?                                         III-4
         Table 48: US Market for Bicycles (2006): Percentage Market
         Share Breakdown of Leading Manufacturers - Trek,
         Specialized, Giant, and Others (includes corresponding
         Graph/Chart)                                                   III-4

         Table 49: Leading Bicycle Manufacturers in the US   for 200
         3: Percentage Breakdown of Value Sales  forTrek, Giant,
         Specialized and Others --  A Historical Review (includes
         corresponding Graph/Chart)                                     III-5
        Electric Bicycles Gaining Popularity                            III-5
         Issues Regarding Electric Bicycles                             III-5
        Distribution Dynamics                                           III-6
         Table 50: Bicycles Market in the US (2006):  Percentage
         Share Breakdown of Retail Channels -  Mass Merchants,
         Specialty Bicycle Retailers,  Chain Sporting Goods Stores
         and Others (includes corresponding Graph/Chart)                III-6

         Table 51: Bicycles Market in the US (2006):  Percentage
         Share Breakdown of Retail Channels - Specialty Bicycle
         Retailers, Mass Merchants,  Chain Sporting Goods Stores,
         and Others  (includes corresponding Graph/Chart)               III-6

         Table 52: Average Price of Bicycles Sold Through  Select
         Retail Channels in the United States As of  the Year 2006
         (In US$) (includes corresponding Graph/Chart)                  III-7
        Statistical Findings On the Specialty Bicycles  Market          III-7
         Table 53: Specialty Bicycles Market in the US (2006):
         Percentage Market Share Breakdown of Product Categories -
         Mountain, Road/700C, Youth,  Hybrid/Cross, Comfort,
         Cruiser, and Others  (includes corresponding Graph/Chart)      III-7

         Table 54: US Specialty Bicycles Market (2004): Breakdown of
         Average Selling Price Per Unit  by Product Type (In US $)
         (includes  corresponding Graph/Chart)                          III-8

         Table 55: Leading Segments in the US Specialty  Bicycle
         Market for 2002, 2003 and 2004: Percentage Breakdown of
         Unit Sales for Mountain Front  Suspension, Comfort,
         Hybrid/Cross, Freestyle,  Youth 20", Youth 19" & Below,
         Mountain Without Suspension, Road/700C, Youth 24", BMX,
         Mountain Full Suspension, and Cruiser-  A Historical Review
         (includes corresponding Graph/Chart)                           III-8

         Table 56: Leading Segments in the US Specialty Bicycle
         Market for 2002, 2003 and 2004: Percentage Breakdown of
         Dollar Sales for Mountain Front Suspension,  Comfort,
         Road/700C, Hybrid/Cross, Mountain Full Suspension,
         Freestyle, Mountain Without Suspension,  Youth 20", Youth
         24", BMX, Youth 19" and  Below, and Cruiser- A Historical
         Review  (includes corresponding Graph/Chart)                   III-9

         Table 57: Leading Segments in the US Bicycle  Shipments
         Market in 2004: Market Shares for 26 inch, 700c DB, 20
         inch, 700c UB, 24 inch, and Others  (includes corresponding
         Graph/Chart)                                                   III-10
        What Does the Future Hold?                                      III-10
        Export & Import Statistics                                      III-10
         Table 58: US Exports of New Pneumatic Rubber Tires  for
         Bicycles (2006): Percentage Share Breakdown of Export Value
         by Destination Country (includes corresponding Graph/Chart)    III-10

         Table 59: US Exports of Rubber Inner Tubes for Bicycles
         (2006): Percentage Share Breakdown of Export Value  by
         Destination Country (includes corresponding Graph/Chart)       III-11

         Table 60: US Imports of Rubber Inner Tubes for  Bicycles
         (2006): Percentage Share Breakdown of  Import Value by
         Country of Origin (includes corresponding Graph/Chart)         III-11

         Table 61: US Exports of Electrical Lighting/Visual
         Signaling Equipment For Bicycles (2006):  Percentage Share
         Breakdown of Export Value  by Destination Country (includes
         corresponding Graph/Chart)                                     III-12

         Table 62: US Imports of Electrical Lighting/Visual
         Signaling Equipment For Bicycles (2006):  Percentage Share
         Breakdown of Import Value  by Country of Origin (includes
         corresponding Graph/Chart)                                     III-12

         Table 63: US Exports of Bicycles And Other Cycles
         (Inclusive of Non-Motorized Delivery Tricycles)  (2006):
         Breakdown of Export Value by Destination Country (In US$
         Million) (includes  corresponding Graph/Chart)                 III-13

         Table 64: US Imports of Bicycles And Other Cycles
         (Inclusive of Non-Motorized Delivery Tricycles)  (2006):
         Breakdown of Import Value by Country  of Origin (In US$
         Million)                                                       III-14

         Table 65: US Bicycle Imports: Share of Top Four  Source
         Countries for 1999-2000 for China, Taiwan, Mexico and Hong
         Kong (includes corresponding Graph/Chart)                      III-14
        The US Bicycle Industry: A Historical Perspective               III-14
        Product Introductions/Innovations                               III-15
        Recent Industry Activity                                        III-18
        Key US Players                                                  III-24
      B.Market Analytics                                                III-27
        Table 66: US Recent Past, Current & Future Analysis for
        Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by Annual
        Sales for the Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-27

        Table 67: US Long term Projections for Bicycles by  Product
        Group/ Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 2011
        through 2015 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-28

        Table 68: US Historic Review for Bicycles by Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-29

        Table 69: US 20-Year Perspective for Bicycles by Product
        Group/Segment - Percentage Breakdown of Dollar Sales  for
        Adults Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring
        Bicycles & Specialty Bicycles), Children's  Bicycles, Sports
        Bicycles, and Parts & Accessories  for the Years 1991, 1995,
        2005, 2007 and 2010  (includes corresponding Graph/Chart)       III-30

  2. Canada                                                             III-31
      A.Market Analysis                                                 III-31
        Outlook                                                         III-31
        Market Structure                                                III-31
         Table 70: Bicycle Market in Canada (2004): Percentage
         Market Share Breakdown of Product Types - Mountain
         Bicycles, Hybrid Bicycles, Road Bicycles, and  Others
         (includes corresponding Graph/Chart)                           III-32
        End Users                                                       III-32
         Junior Vs Adult                                                III-32
         Women Vs Men                                                   III-32
         Mountain Vs Racing Vs Hybrid                                   III-32
         High-end Vs Low-end                                            III-32
        Import/Export Scenario                                          III-33
         Table 71: Canadian Imports of New Pneumatic Rubber Tires
         for Bicycles (2005): Percentage ShareBreakdown  of Import
         Value by Country of Origin (includes corresponding
         Graph/Chart)                                                   III-33

         Table 72: Canadian Exports of New Pneumatic Rubber Tires
         for Bicycles (2005): Percentage Share Breakdown  of Export
         Value by Destination Country (includes corresponding
         Graph/Chart)                                                   III-33

         Table 73: Canadian Imports of Rubber Inner Tubes for
         Bicycles (2005): Percentage Share Breakdown of Import Value
         by Country of Origin  (includes corresponding Graph/Chart)     III-34

         Table 74: Canadian Imports of Electrical  Lighting/ Visual
         Signaling Equipment For Bicycles (2005): Breakdown of
         Import Value by Country of  Origin (In US$)                    III-34

         Table 75: Canadian Exports of Electrical Lighting/Visual
         Signaling Equipment For Bicycles (2006): Percentage Share
         Breakdown of Export Value by Destination  Country (includes
         corresponding Graph/Chart)                                     III-35

         Table 76: Canadian Imports of Bicycles And Other  Cycles
         (Inclusive of Non-Motorized Delivery Tricycles) (2005):
         Percentage Share Breakdown of Import Value  by Country of
         Origin (includes corresponding Graph/Chart)                    III-35

         Table 77: Canadian Exports of Bicycles And Other  Cycles
         (Inclusive of Non-Motorized Delivery Tricycles) (2005):
         Percentage Share Breakdown of Export Value  by Destination
         Country (includes corresponding Graph/Chart)                   III-36

         Table 78: Bicycle Market in Canada: Breakdown of Domestic
         Production and Import Volumes for the  Years 2002 & 2004
         (In Thousand Units)                                            III-36

         Table 79: Finished Painted Bicycle Frames Market  in
         Canada: Breakdown of Domestic Production and Import Volumes
         for the Years 2002 & 2004  (In Thousand Units)                 III-36

         Table 80: Leading Import Sources for Bicycles in Canada
         (2000-2002): Market Shares for Taiwan, China, USA, Japan,
         Italy, Malaysia, Others, Thailand, Indonesia, France,
         Singapore, Philippines, and Others (In %)  (includes
         corresponding Graph/Chart)                                     III-37

         Table 81: Leading Export Destinations for Bicycles  in
         Canada (2000-2002): Market Shares for USA, Germany,
         Switzerland, Japan, Netherlands, UK,  Austria and Others
         (In %)  (includes  corresponding Graph/Chart)                  III-38
        Product Launch                                                  III-38
        Recent Industry Activity                                        III-38
      B.Market Analytics                                                III-40
        Table 82: Canadian Recent Past, Current & Future  Analysis
        for Bicycles by Product Group/Segment -  Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's  Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by Annual
        Sales for the  Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-40

        Table 83: Canadian Long term Projections for Bicycles  by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by Annual Sales  for the
        Years 2011 through 2015 in US$ Million  (includes
        corresponding Graph/Chart)                                      III-41

        Table 84: Canadian Historic Review for Bicycles by Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-42

        Table 85: Canadian 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 200, 2007  and 2010 (includes
        corresponding Graph/Chart)                                      III-43

  3. Japan                                                              III-44
      A.Market Analysis                                                 III-44
        Outlook                                                         III-44
        A Primer                                                        III-44
        Imports Steadily Gain a Large Slice of the Market               III-44
         Table 86: Japanese Bicycle Market: Percentage Share  of
         Domestic Production and Imports for the  Years 1999, 2002
         and 2004 (includes  corresponding Graph/Chart)                 III-44
        Recent Industry Activity                                        III-45
        Key Players                                                     III-45
      B.Market Analytics                                                III-46
        Table 87: Japanese Recent Past, Current & Future  Analysis
        for Bicycles by Product Group/Segment -  Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's  Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by Annual
        Sales for the  Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-46

        Table 88: Japanese Long term Projections for Bicycles  by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by Annual Sales  for the
        Years 2011 through 2015 in US$ Million  (includes
        corresponding Graph/Chart)                                      III-47

        Table 89: Japanese Historic Review for Bicycles by  Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-48

        Table 90: Japanese 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 200, 2007 and  2010 (includes
        corresponding Graph/Chart)                                      III-49

  4. Europe                                                             III-50
      A.Market Analysis                                                 III-50
        Outlook                                                         III-50
      B.Market Analytics                                                III-50
        Table 91: European Recent Past, Current & Future Analysis
        for Bicycle Parts & Accessories by Geographic Region -
        France, Germany, Italy, UK, Spain, Russia, and Rest of
        Europe Independently Analyzed by Annual Sales for the Years
        2001 through 2010 in US$ Million (includes corresponding
        Graph/Chart)                                                    III-50

        Table 92: European Long term Projections for Bicycles by
        Geographic Region - France, Germany, Italy, UK, Spain,
        Russia, and Rest of Europe Independently Analyzed by Annual
        Sales for the Years 2011 through 2015 in US$ Million
        (includes corresponding Graph/Chart)                            III-51

        Table 93: European Recent Past, Current & Future Analysis
        for Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by  Annual
        Sales for the Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-52

        Table 94: European Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by Annual Sales for  the
        Years 2011 through 2015 in US$ Million (includes
        corresponding Graph/Chart)                                      III-53

        Table 95: European Historic Review for Bicycle Parts &
        Accessories by Geographic Region - France, Germany, Italy,
        UK, Spain, Russia, and Rest of Europe Independently Analyzed
        by Annual Sales for the Years 1991 through  2000 in US$
        Million (includes corresponding  Graph/Chart)                   III-54

        Table 96: European Historic Review for Bicycles by Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-55

        Table 97: European 20-Year Perspective for Bicycle Parts &
        Accessories by Geographic Region - Percentage Breakdown of
        Dollar Sales for France, Germany,  Italy, UK, Spain, Russia,
        and Rest of Europe for  the Years 1991, 1995, 200, 2007 and
        2010 (includes corresponding Graph/Chart)                       III-56

        Table 98: European 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of Dollar Sales
        for Adults Bicycles (Mountain Bicycles, Hybrid Bicycles,
        Touring Bicycles & Specialty Bicycles), Children's Bicycles,
        Sports Bicycles, and Parts & Accessories for  the Years
        1991, 1995, 200, 2007 and 2010 (includes corresponding
        Graph/Chart)                                                    III-57

  4a. France                                                            III-58
      A.Market Analysis                                                 III-58
        Outlook                                                         III-58
        A Primer                                                        III-58
        Key Player                                                      III-58
      B.Market Analytics                                                III-59
        Table 99: French Recent Past, Current & Future Analysis for
        Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by  Annual
        Sales for the Years 2001 through 2010  in US$ Million
        (includes corresponding  Graph/Chart)                           III-59

        Table 100: French Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 2011 through 2015  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-60

        Table 101: French Historic Review for Bicycles by  Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories
        Independently Analyzed by  Annual Sales for the Years 1991
        through 2000  in US$ Million (includes corresponding
        Graph/Chart)                                                    III-61

        Table 102: French 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown  of Dollar
        Sales for Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 200, 2007  and 2010 (includes
        corresponding Graph/Chart)                                      III-62

  4b. Germany                                                           III-63
      A.Market Analysis                                                 III-63
        Outlook                                                         III-63
        Market Scenario                                                 III-63
        Germany Cheers Its Bicycle Market Ahead                         III-63
         The Newsmakers                                                 III-63
        Channels of Distribution                                        III-64
      B.Market Analytics                                                III-64
        Table 103: German Recent Past, Current & Future  Analysis
        for Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles,  Sports Bicycles,
        and Parts & Accessories Independently Analyzed by Annual
        Sales for the Years 2001  through 2010 in US$ Million
        (includes  corresponding Graph/Chart)                           III-64

        Table 104: German Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 2011 through 2015  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-65

        Table 105: German Historic Review for Bicycles by  Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories
        Independently Analyzed by  Annual Sales for the Years 1991
        through 2000  in US$ Million (includes corresponding
        Graph/Chart)                                                    III-66

        Table 106: German 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 200, 2007  and 2010 (includes
        corresponding  Graph/Chart)                                     III-67

  4c. Italy                                                             III-68
      A.Market Analysis                                                 III-68
        Outlook                                                         III-68
        A Primer                                                        III-68
         Table 107: Leading Product Segments in the Italian Bicycle
         Market for 2000 & 2001: Production Shares  by Category
         including MTB, City Bike, Children Bikes, Racing Bikes, and
         Others (In %) (includes  corresponding Graph/Chart)            III-68

         Table 108: Domestic Consumption in the Italian Bicycle
         Market from 2000 to 2003 (In '000 Units)  (includes
         corresponding Graph/Chart)                                     III-69
        Key Player                                                      III-69
      B.Market Analytics                                                III-70
        Table 109: Italian Recent Past, Current & Future Analysis
        for Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by  Annual
        Sales for the Years 2001 through 2010  in US$ Million
        (includes corresponding  Graph/Chart)                           III-70

        Table 110: Italian Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 2011 through 2015  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-71

        Table 111: Italian Historic Review for Bicycles by Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-72

        Table 112: Italian 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 200, 2007 and  2010 (includes
        corresponding Graph/Chart)                                      III-73

  4d. The United Kingdom                                                III-74
      A.Market Analysis                                                 III-74
        Outlook                                                         III-74
        Market Scenario                                                 III-74
        Recent Industry Activity                                        III-74
        Key Players                                                     III-75
      B.Market Analytics                                                III-76
        Table 113: UK Recent Past, Current & Future Analysis for
        Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by  Annual
        Sales for the Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-76

        Table 114: UK Long term Projections for Bicycles by Product
        Group/ Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories
        Independently Analyzed by Annual Sales for the Years 2011
        through 2015 in US$ Million (includes corresponding
        Graph/Chart)                                                    III-77

        Table 115: UK Historic Review for Bicycles by Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories
        Independently Analyzed by Annual Sales  for the Years 1991
        through 2000 in US$ Million  (includes corresponding
        Graph/Chart)                                                    III-78

        Table 116: UK 20-Year Perspective for Bicycles by  Product
        Group/Segment - Percentage Breakdown of  Dollar Sales for
        Adults Bicycles (Mountain Bicycles,  Hybrid Bicycles,
        Touring Bicycles & Specialty Bicycles), Children's Bicycles,
        Sports Bicycles, and Parts & Accessories for the Years 1991,
        1995, 2005, 2007  and 2010 (includes corresponding
        Graph/Chart)                                                    III-79

  4e. Spain                                                             III-80
      A.Market Analysis                                                 III-80
        Outlook                                                         III-80
        Product Launch                                                  III-80
      B.Market Analytics                                                III-80
        Table 117: Spanish Recent Past, Current & Future Analysis
        for Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed by  Annual
        Sales for the Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-80

        Table 118: Spanish Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by Annual Sales for the
        Years 2011 through 2015 in US$ Million (includes
        corresponding Graph/Chart)                                      III-81

        Table 119: Spanish Historic Review for Bicycles by  Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories
        Independently Analyzed by Annual Sales for the Years 1991
        through 2000 in US$ Million (includes corresponding
        Graph/Chart)                                                    III-82

        Table 120: Spanish 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 2005, 2007  and 2010 (includes
        corresponding Graph/Chart)                                      III-83

  4f. Russia                                                            III-84
      A.Market Analysis                                                 III-84
        Outlook                                                         III-84
      B.Market Analytics                                                III-84
        Table 121: Russian Recent Past, Current & Future Analysis
        for Bicycles by Product Group/Segment - Adults Bicycles
        (Mountain Bicycles, Hybrid Bicycles, Touring Bicycles &
        Specialty Bicycles), Children's Bicycles, Sports Bicycles,
        and Parts & Accessories Independently Analyzed  by Annual
        Sales for the Years 2001 through 2010 in US$ Million
        (includes corresponding Graph/Chart)                            III-84

        Table 122: Russian Long term Projections for Bicycles by
        Product Group/ Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by Annual Sales for the
        Years 2011 through 2015 in US$ Million (includes
        corresponding Graph/Chart)                                      III-85

        Table 123: Russian Historic Review for Bicycles by  Product
        Group/Segment - Adults Bicycles (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories
        Independently Analyzed by Annual Sales for the Years 1991
        through 2000 in US$ Million (includes corresponding
        Graph/Chart)                                                    III-86

        Table 124: Russian 20-Year Perspective for Bicycles by
        Product Group/Segment - Percentage Breakdown of  Dollar
        Sales for Adults Bicycles (Mountain Bicycles,  Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 2005, 2007  and 2010 (includes
        corresponding Graph/Chart)                                      III-87

  4g. Rest of Europe                                                    III-88
      A.Market Analysis                                                 III-88
        Outlook                                                         III-88
        Focus on Select Markets                                         III-88
         Netherlands                                                    III-88
          A Primer                                                      III-88
          Bicycles Ride Smooth in Netherlands                           III-88
           Table 125: Bicycle Market in The Netherlands (2005):
           Percentage Market Share Breakdown of Leading Players -
           Batavus, Koga Miyata, Sparta, Giant, Gazelle, Union, and
           Others (includes corresponding Graph/Chart)                  III-89

           Table 126: Bicycle Market in The Netherlands: Percentage
           Market Share Breakdown of Product Type for the Year 2005
           (includes  corresponding Graph/Chart)                        III-89

           Table 127: Bicycle Market in The Netherlands: Percentage
           Market Share Breakdown of Bicycles Categorized by Price
           for the Year 2005  (includes corresponding Graph/Chart)      III-89

           Table 128: Bicycle Production in The Netherlands:
           Breakdown of Production Volume and Value for  the Years
           2003 through 2006 (includes  corresponding Graph/Chart)      III-90
         Switzerland                                                    III-90
         The Czech Republic                                             III-90
         Hungary                                                        III-90
         Poland                                                         III-90
        Recent Industry Activity                                        III-91
        Key Players                                                     III-92
      B.Market Analytics                                                III-93
        Table 129: Rest of Europe Recent Past, Current & Future
        Analysis for Bicycles by Product Group/Segment - Adults
        Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring
        Bicycles & Specialty Bicycles), Children's Bicycles,  Sports
        Bicycles, and Parts & Accessories Independently Analyzed by
        Annual Sales for the Years 2001  through 2010 in US$ Million
        (includes  corresponding Graph/Chart)                           III-93

        Table 130: Rest of Europe Long term Projections for Bicycles
        by Product Group/ Segment - Adults Bicycles (Mountain
        Bicycles, Hybrid Bicycles, Touring Bicycles & Specialty
        Bicycles), Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 2011 through 2015  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-94

        Table 131: Rest of Europe Historic Review for Bicycles  by
        Product Group/Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 1991 through 2000  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-95

        Table 132: Rest of Europe 20-Year Perspective for  Bicycles
        by Product Group/Segment - Percentage Breakdown of Dollar
        Sales for Adults Bicycles  (Mountain Bicycles, Hybrid
        Bicycles, Touring Bicycles & Specialty Bicycles), Children's
        Bicycles, Sports  Bicycles, and Parts & Accessories for the
        Years 1991, 1995, 2005, 2007 and 2010  (includes
        corresponding Graph/Chart)                                      III-96

  5. Asia-Pacific                                                       III-97
      A.Market Analysis                                                 III-97
        Outlook                                                         III-97
        Focus On Select Markets                                         III-97
         China                                                          III-97
          A Primer                                                      III-97
          Manufacturing Facilities                                      III-97
           Table 133: Bicycle Production in China:  Breakdown of
           Production Volume for the  Years 2003 through 2005 (In
           000 Units)  (includes corresponding Graph/Chart)             III-98
          Export Scenario                                               III-98
           Anti-Dumping Policies Tame Chinese Exports  to Most
            Overseas Markets                                            III-98
           Challenges                                                   III-99
            Table 134: Geographic Composition of China's Bicycle
            Exports (2006): Percentage Breakdown  of Geographic
            Regions - North America,  Asia, Middle East & Africa,
            Europe, Central & South America, and Others (includes
            corresponding Graph/Chart)                                  III-99

            Table 135: Bicycle Export Industry in China (2004):
            Percentage Breakdown of Exports  by Product Type -
            Children's Bicycles,  City Bicycles, Electric Bicycles,
            Dirt Bicycles, Racing Bicycles, and Mountain Bicycles
            (includes corresponding Graph/Chart)                        III-99
          Electric Bikes Riding on Top Gear                             III-99
           Table 136: Production of E-Bikes in China for  the Years
           2003  through 2007 (In 000 Units)  (includes
           corresponding Graph/Chart)                                   III-100

           Table 137: Electric Bicycle Market in China  (2005):
           Percentage Share Breakdown of Product Types Based On
           Prices - Luxury, Moderate,  and Economical (includes
           corresponding Graph/Chart)                                   III-100
         Australia                                                      III-100
          What's New Down Under?                                        III-100
          Who's Biking and Why?                                         III-101
           Table 138: Prevalence of the Cycling Habit Among Select
           Age Groups in Australia: A Comparison Between Years 2002
           & 2004 (In %) (includes corresponding Graph/Chart)           III-102
         New Zealand                                                    III-102
         Indonesia                                                      III-102
          Table 139: Leading Export Destinations of the Indonesian
          Bicycle Market in 2000: Exports and  Market Share of
          Canada, Japan, England, Denmark, Saudi Arabia, Germany,
          Netherlands, Australia,  East Timor, Singapore,
          Philippines, and Others  (In US$ '000 and %) (includes
          corresponding Graph/Chart)                                    III-102
         Taiwan                                                         III-103
          Market Snippets                                               III-103
          A Primer                                                      III-104
           Table 140: Bicycle Production & Average Selling Price in
           Taiwan & China for the Years 2002  Through 2005: A
           Comparison (includes corresponding Graph/Chart)              III-104

           Table 141: Bicycle Market in Taiwan: Average Selling
           Price (ASP) for the Years 2002  Through 2007 (In US$)
           (includes  corresponding Graph/Chart)                        III-104
          Anti-Dumping Tariff: A Blessing in Disguise                   III-105
           Table 142: Exports of Bicycles in Taiwan (2007):
           Breakdown of Export Value & Volume By  Destination -
           NAFTA, European Union &  Others (includes corresponding
           Graph/Chart)                                                 III-105
          Electric Bikes                                                III-105
          China: The Destination of Choice for  Taiwanese Manufacturers III-106
          Future Trends                                                 III-106
          Historic Market Scenario                                      III-107
          Exports in the Year 2001                                      III-107
         India                                                          III-108
          Fancy Bikes: A Product Market to Mine                         III-109
          'Made in China' Threatens India                               III-109
          Anti-Dumping Duties Offer Respite                             III-109
          Future Scenario                                               III-110
          Import & Export Statistics                                    III-110
           Table 143: Percentage Breakdown of Export  Value of
           Bicycles, and Bicycle Parts &  Components in India for
           the Years 2002,  2003 & 2004                                 III-110

           Table 144: Indian Exports of Bicycles: Breakdown  of
           Export Value by Destination Countries for  the Year 2004
           (In Rs. Crores) (includes corresponding Graph/Chart)         III-110

           Table 145: Indian Exports of Other Cycles*: Breakdown of
           Export Value by Destination Countries for the Year 2004
           (In Rs. Crores) (includes corresponding Graph/Chart)         III-111

           Table 146: Indian Exports of Pedals and  Crank Gear &
           Parts: Breakdown of Export Value  by Destination
           Countries for the Year 2004  (In Rs. Crores) (includes
           corresponding Graph/Chart)                                   III-111

           Table 147: Indian Exports of Bicycle Free Wheels:
           Breakdown of Export Value by Destination  Countries for
           the Year 2004 (In Rs. Crores)  (includes corresponding
           Graph/Chart)                                                 III-111

           Table 148: Indian Exports of Bicycle Rims: Breakdown of
           Export Value by Destination  Countries for the Year 2004
           (In Rs. Crores)  (includes corresponding Graph/Chart)        III-112

           Table 149: Indian Exports of Brakes*: Breakdown  of
           Export Value by Destination Countries for  the Year 2004
           (In Rs. Crores) (includes corresponding Graph/Chart)         III-112

           Table 150: Indian Exports of Bicycle Hubs: Breakdown of
           Export Value by Destination  Countries for the Year 2004
           (In Rs. Crores)  (includes corresponding Graph/Chart)        III-112
         Pakistan                                                       III-113
         Singapore                                                      III-113
        Product Introductions/Innovations                               III-113
        Recent Industry Activity                                        III-116
        Key Players                                                     III-120
      B.Market Analytics                                                III-123
        Table 151: Asia-Pacific Recent Past, Current & Future
        Analysis for Bicycles by Product Group/Segment - Adults
        Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring
        Bicycles & Specialty Bicycles), Children's Bicycles,  Sports
        Bicycles, and Parts & Accessories Independently Analyzed by
        Annual Sales for the Years 2001  through 2010 in US$ Million
        (includes  corresponding Graph/Chart)                           III-123

        Table 152: Asia-Pacific Long term Projections for  Bicycles
        by Product Group/ Segment - Adults Bicycles (Mountain
        Bicycles, Hybrid Bicycles, Touring Bicycles & Specialty
        Bicycles), Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by  Annual Sales for the
        Years 2011 through 2015  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-124

        Table 153: Asia-Pacific Historic Review for Bicycles by
        Product Group/Segment - Adults Bicycles (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and  Parts &
        Accessories Independently Analyzed by Annual Sales for the
        Years 1991 through 2000 in US$ Million (includes
        corresponding Graph/Chart)                                      III-125

        Table 154: Asia-Pacific 20-Year Perspective for  Bicycles by
        Product Group/Segment - Percentage Breakdown of Dollar Sales
        for Adults Bicycles  (Mountain Bicycles, Hybrid Bicycles,
        Touring Bicycles & Specialty Bicycles),  Children's
        Bicycles, Sports Bicycles, and  Parts & Accessories for the
        Years 1991,  1995, 2005, 2007 and 2010 (includes
        corresponding Graph/Chart)                                      III-126

  6. Middle East                                                        III-127
      A.Market Analysis                                                 III-127
        Outlook                                                         III-127
      B.Market Analytics                                                III-127
        Table 155: Middle East Recent Past, Current & Future
        Analysis for Bicycles by Product Group/Segment -  Adults
        Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring
        Bicycles & Specialty Bicycles),  Children's Bicycles, Sports
        Bicycles, and Parts & Accessories Independently Analyzed by
        Annual Sales for the Years 2001 through 2010  in US$ Million
        (includes corresponding  Graph/Chart)                           III-127

        Table 156: Middle East Long term Projections for  Bicycles
        by Product Group/ Segment - Adults  Bicycles (Mountain
        Bicycles, Hybrid Bicycles,  Touring Bicycles & Specialty
        Bicycles), Children's  Bicycles, Sports Bicycles, and Parts
        & Accessories Independently Analyzed by Annual Sales for
        the Years 2011 through 2015 in US$ Million  (includes
        corresponding Graph/Chart)                                      III-128

        Table 157: Middle East Historic Review for Bicycles  by
        Product Group/Segment - Adults Bicycles  (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed  by Annual Sales for the
        Years 1991 through 2000  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-129

        Table 158: Middle East 20-Year Perspective for Bicycles  by
        Product Group/Segment - Percentage Breakdown of Dollar Sales
        for Adults Bicycles (Mountain Bicycles,  Hybrid Bicycles,
        Touring Bicycles & Specialty Bicycles), Children's Bicycles,
        Sports Bicycles, and Parts & Accessories for the Years 1991,
        1995, 2005, 2007  and 2010 (includes corresponding
        Graph/Chart)                                                    III-130

  7. Latin America                                                      III-131
      A.Market Analysis                                                 III-131
        Outlook                                                         III-131
        Chile                                                           III-131
        Costa Rica                                                      III-131
        Guatemala                                                       III-131
        Recent Industry Activity                                        III-131
      B.Market Analytics                                                III-132
        Table 159: Latin American Recent Past, Current & Future
        Analysis for Bicycles by Product Group/Segment - Adults
        Bicycles (Mountain Bicycles, Hybrid Bicycles, Touring
        Bicycles & Specialty Bicycles), Children's Bicycles,  Sports
        Bicycles, and Parts & Accessories Independently Analyzed by
        Annual Sales for the Years 2001 through  2010 in US$ Million
        (includes corresponding  Graph/Chart)                           III-132

        Table 160: Latin American Long term Projections for Bicycles
        by Product Group/ Segment - Adults Bicycles (Mountain
        Bicycles, Hybrid Bicycles, Touring Bicycles & Specialty
        Bicycles), Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed by Annual Sales for the
        Years 2011 through 2015 in US$ Million (includes
        corresponding Graph/Chart)                                      III-133

        Table 161: Latin American Historic Review for Bicycles  by
        Product Group/Segment - Adults Bicycles  (Mountain Bicycles,
        Hybrid Bicycles, Touring Bicycles & Specialty Bicycles),
        Children's Bicycles, Sports Bicycles, and Parts &
        Accessories Independently Analyzed  by Annual Sales for the
        Years 1991 through 2000  in US$ Million (includes
        corresponding  Graph/Chart)                                     III-134

        Table 162: Latin American 20-Year Perspective for  Bicycles
        by Product Group/Segment - Percentage Breakdown of Dollar
        Sales for Adults Bicycles  (Mountain Bicycles, Hybrid
        Bicycles, Touring  Bicycles & Specialty Bicycles),
        Children's Bicycles,  Sports Bicycles, and Parts &
        Accessories for  the Years 1991, 1995, 2005, 2007 and 2010
        (includes corresponding Graph/Chart)                            III-135


 IV. COMPETITIVE LANDSCAPE