Bicycle Components Market Scope
Bicycle Components are the parts of the bicycle which enhance the bicycle to perform well as well as look good. These components help the traditional bicycles to become a modern bicycle such as the cycle with gears. The higher authorities in different countries are making an effort to adopt bicycles as public transportation. For instance, Netherlands is one of the countries which is known as the favorite spot for cyclists, it is observed that the as the city has more than 500 km of bicycle lanes and 50% of the total traveling is done on bicycles. Hence stringent rules made by the government for the pollution-free environment are driving the industry.
The market study is being classified by Type (Derailleurs, Road Group Sets, Suspensions, Wheelsets, Gears, Brakes and Others), by Application (Road/Standard Bicycle, MTB/Racing Bicycle, Kids Bicycle, E-bikes and Others) and major geographies with country level break-up.
Research Analyst at AMA predicts that Global Vendors will contribute to the maximum growth of Global Bicycle Components market throughout the predicted period.
Giant Bicycles (Taiwan), Atlas Cycles (India), Avon Cycles (India), Cannondale Bicycle (United States), Cycleurope (Italy), Accell Group (Netherlands), Currie Technologies (United States), Dorel Industries (Canada), Shimano (Japan) and Sr. Suntour (Japan) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Bicycle Components market by Type, Application and Region.
On the basis of geography, the market of Bicycle Components has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2018, Avon Cycles Ltd join forces with French company - Cronus Sports Science & Technology Co., Ltd., in order to introduce bicycles of a French pedigree into the Indian market, and In August 2018, Accell Group N.V. successfully completed the acquisition of VELOSOPHY. The main aim of this acquisition was that the company has accelerated its innovation strategy that is focused on the development of urban mobility solutions.
On 12th October 2019, GT goes electric with GT-E Force and GT-E Pantera mountain bikes. GT is entering the electric bike zone for the first time with the launch of a range of full-suspension and hardtail pedal-assist mountain bikes.
- Adoption of Advanced Bicycles Including E-Bikes
- Adoption of Collision-Warning Sensors to Detect the Possibility of a Collision through a Laser Sensor
- Increasing Trend of Bicycle Events in Different Organization in Various Countries
- Increasing Preference for Green Transportation is Favoring Bicycle Components
- Increasing Government Support for Green Transportation Modes is Driving the Market
- Growing Need for Riding Bicycles to Maintain Health and Fitness Will Continue to Fuel Growth of the Global Bicycle Components Market
- Increasing Consumer Inclination towards Fuel Conservation is Resulting in Increased Usage of Bicycles and the Components
- Lightweight Bicycles Used by Composite Materials Make them Expensive
- Lack of Infrastructure which is Necessary to Support and Encourage Bicycle Commutation and Component, Particularly in Developing Economies, Such as India
Analyst ViewThis market will have slow growth in the time of 2019- 2022, as there are still many countries that do not use a bicycle as a part and parcel of their daily life such as India, China, Japan among others. But in forecasted years, this market will take immense growth in both developed and developing nations, as many stringent regulations for the green environment will be taken in action. Such as Netherland is taking charge of this green environment, hence making 50% of people compute through bicycle
Key Target AudienceBicycle Components Manufactures, Bicycle Components Distributors, End-Users, Potential Investors and Others
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