Allegra Strategies, a management consultant firm, has studied the cycling market in the U.K. and says that it is worth over £1.5 billion (€1.8bn-$2.3bn) and is growing by more than 20 percent per year. It cited the favorable conditions in the U.K., with rising sales of bikes and accessories at higher price points, and noted that Halfords sold more than 1 million bikes in the last year and other retailers such as Tesco are adding special bike “shops” in their stores. Allegra expects continued growth for the next three to five years. In London itself, the number of cycle trips has gone up by 91 percent, and this month the city will launch its Cycle Hire program, a short-term bike rental scheme whereby riders can get a bike at a special kiosk and return it to any other one in the city.