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, 2022 | 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

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?