Bicycle Accessories Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Bicycle Accessories Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : February, 2021 | Automotive

Report Digest


Global Bicycle Accessories Market: Overview

Bicycle accessories refer to those standard features on bicycles that add to the visibility, comfort, scope safety, and effectiveness of a bicycle. Some of the bicycle accessories also give a sleek and smart look to the bicycle. Both sharing and rental services in many cities across the globe are emerging as one of the key growth factors for the global bicycle accessories market over the period of assessment, from 2019 to 2029. Many cities are gaining considerable support from various government authorities to make use of bicycles as an environment-friendly and safe mode of transport. These factors are expected to encourage growth of the global bicycle accessories market over the period of assessment, from 2019 to 2029.

The global bicycle accessories market has been segmented based on type, and region. The thorough analysis of the market comes with the objective of giving the market stakeholders a very clear and precise view of the global bicycle accessories market.

Global Bicycle Accessories Market: Notable Developments

The global bicycle accessories market has witnessed many developments and changes in the market over the last few years. One such event that has played an important role in influencing the future course of the market is mentioned as below:

  • In August 2018, Netherlands-based Accell Group N.V. acquired Swedish bicycle brand, Vélosophy Cycles AB. With this acquisition, the Dutch bicycle brand is expected to form innovative strategies with an emphasis on the development of mobility solutions in the urban areas.

Some of the key market players of the global bicycle accessories market are

  • Samchuly Bicycle Co., Ltd
  • Giant Manufacturing Co., Ltd.
  • Accell Group N.V.
  • DT Swiss, Inc.
  • Garmin Ltd
  • Merida Industry Co Ltd

Global Bicycle Accessories Market: Growth Drivers

Demand for Lightweight Aluminum Components to Support Growth of the Market

Rise in the number of biking expeditions to rough and tough terrains like steep mountain ranges in the last few years. The growing popularity of such expeditions is anticipated to drive the demand for bicycles, which, in turn, is expected to propel growth of the global bicycle accessories market over the period of assessment, from 2019 to 2027.  In addition, e-bikes or electric bicycle has gained popularity in recent times, thanks to the environment friendly features of these bicycles. Some of the European countries like the Netherlands, Denmark, the UK, and Germany have already developed good cycling infrastructure, such a separate lane for bicycles. Besides, governments of some countries also provide subsidized rate of bicycles so as to encourage adoption of bicycle as a means of commute.

In addition, prominent manufacturers of bicycle accessories are launching new products in a bid to increase their sale of products. Besides, this factor is expected to widen the reach of the manufacturers across the globe.

Global Bicycle Accessories Market: Regional Outlook

In the global bicycle accessories market, Asia Pacific is estimated to emerge as one of the rapidly growing region. Countries like Singapore, Japan, South Korea, and China encourage travel by bicycle so as to reduce the burden of road traffic and safeguard the environment. Europe is another prominent and leading region in the global bicycle accessories market with several countries encouraging daily commuting through bicycle.

The global bicycle accessories market is segmented as:

Type

  • Helmets
  • Gloves and Warmers
  • Jersey/ Tee/ Jacket
  • LED Lights
  • Mirror
  • Bottle Cage
  • Pump
  • Front Basket and Luggage Carrier
  • Bar Grips
  • Kisckstand
  • Saddles and Covers
  • Mudflaps
  • Speedometer
  • Horn
  • Fenders

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?