“Trends market research (TMR) forecasts modest growth for the global bicycles and components market over the next decade. During this 8-year assessment, the market size is expected to grow at a CAGR of XX%, attaining a value of US$ XX Bn by the end of 2025. According to the company’s recent report titled “Global Market Study on Bicycle and Components: U.S. Market Expected to Remain Dominant in Terms of Value and Volume Through 2025,” the market will possibly witness increased popularity of lightweight bicycles. The report confirms continued dominance of Europe in the global bicycles and components market throughout the forecast period.
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Rising awareness about physical exercising will drum up the demand for bicycles in near future. Moreover, a growing shift to eco-friendly transportation options, aggravated by burgeoning vehicle fuel prices, will collectively foster the adoption. “Advent of cutting-edge bicycle components and technology is also an important factor spurring the demand, in addition to providing consumers with a myriad options, such as road bicycles, city bicycles, mountain bicycles, etc.,” the reports states further. Promising emergence of commuter bicycles with components targeted to specific conditions is another key factor that the report highlights, impacting the market growth.
Amongst application segments, electric bikes segment will contribute a major revenue share to the global market. Compared to other counterparts, this segment is expected to witness a higher CAGR of XX% over 2018-2025, attributed chiefly to their superior battery life and high-fidelity battery technology. Other application segments include road bike, city bike, mountain bike, children bike, and others.
By technology, metal components will reportedly retain dominance through 2025. Owing to rapidly growing demand for lightweight bicycles, continuous fiber components segment will gain higher traction, resulting in the highest CAGR of XX% during the assessed period. The third segment involves discontinuous fiber components.
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On the basis of components, frames will continue to lead saddles and rims, expanding at a relatively higher CAGR of XX% throughout the forecast period. Rims will represent the second largest component segment, according to Trends Market Research.
As per the company’s regional analysis, the global market for bicycles and components will see the maximum growth in Asia Pacific. However, the European market will continue to lead globally, representing the largest market size over 2018-2025. Accounting for the maximum revenues of over US$ XXBn by 2018 end, Europe will display moderate growth post-2018. APAC will however witness a higher CAGR of XX% in terms of value.
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“Global Market Study on Bicycle and Components: U.S. Market Expected to Remain Dominant in Terms of Value and Volume Through 2025” also profiles some of the key players operating in the global bicycle and components market, which maintain the dynamic competitiveness of the global market landscape. To mention a few of the leading companies, Giant Bicycles Inc., Atlas Cycles Inc., Avon Cycles Ltd., Cannondale Bicycle Corporation, Cycleurope AB, Accell Group N.V., Caloi Inc., Merida Industry Co. Ltd., Currie Technologies Inc., Dorel, Industries Inc., Shimano, Campagnolo S.r.l., Mavic, SunTour, Sachs-Huret, SABIC, Innovative Plastics, Toray Industrial, Mitsubishi Rayon, Toho Tenax, and BASF attract significant revenues.”