Bicycle Parking Racks Market Growth Rate and Revenue Forecast 2018 to 2028

Posted on 2019-08-12 by Mark Hub in Industrial // 0 Comments

A new research study envisages US$ 4 billion opportunity to emerge in the bicycle parking rack market by 2028, with urban centers and Tier II cities at forefront of new installations/construction. The growth is largely on account of a resurgence in bicycling on account of growing awareness on environmental conservation and health & wellness. The Fact.MR study opines that ‘mainstreaming’ of bicycling as a means of commute has the potential to create sizeable opportunities for stakeholders.

The bicycle parking racks market is influenced by a combination of macroeconomic and microeconomic factors impacting growth. Awareness initiatives at grassroots levels, such as drives across universities and colleges, along with growing focus on positioning bicycling as a recreational activity continue to influence the dynamics in the market.

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The research study on bicycle parking rack market by Fact.MR for the forecast period of 2018 to 2028 has been diligently compiled post analyzing the growth of bicycle parking rack market over the forecast timeline. This report on bicycle parking rack market has been comprehensively crafted to offer most actionable business insights for participants in the bicycle parking rack market space to grasp. The bicycle parking rack market report has been backed by rigorous industry intelligence procured from both secondary and primary research sources. The report addresses precise data on bicycle parking rack market, which have been gleaned from a series of meticulous research and interaction with domain leaders and market experts.

Secondary research performed for the study on bicycle parking rack market is based on the methodical data inscribed from relevant publications such as investor presentations, certified authorities, international magazines, organizational annual reports, SEC filings, respected industry associations, whitepapers, databases, and so on. On the contrary, primary research methodology for bicycle parking rack market entails assembling of the primary data related to bicycle parking rack market through direct interactions with SMEs and key opinion leaders present across the value chain of bicycle parking rack market.

Customer Preference for Technologically Advanced, Value-for-money Bike Parking Racks Growing

The adoption of technologically-advanced, value-for-money bike parking racks is continues to witness steady increase. With cyclists seeking better parking solutions, integration of digital security systems. Institutions such as schools, universities, and offices are promoting use of bicycles among their employees. In a bid to eliminate the risk of thefts, manufacturers are making efforts to provide advanced solutions armed with security alarms and camera surveillance. Apart from manufacturers, governments across various regions are proactively participating in a bid to tackle theft issues.

‘Shared Bikes’: An Evolving Trend that’s Likely to Create Ample Opportunities

With shared bikes evolving as the latest trend facilitating public commute, companies offering bike sharing solutions are vying to expand across multiple regions. Ofo and Mobike, the two biggest bike-share operators of China, are planning to expand across more than 200 cities by the end of 2018. Having said that, Reckless parking of shared bikes has turned up as one of the major concerns evoking high demand for bicycle parking racks. Reckless parking has led to issues with distribution of bikes and blocking of public spaces, which has persuaded town councils to include parking racks as an imperative in their bicycle sharing schemes.

Additional Questions Answered

This report on bicycle parking rack market can help industry stakeholders to align their market-centric strategies. In addition to that, this report on bicycle parking rack market will also help in developing an in-depth competitive knowledge about the industry landscape of bicycle parking rack market. Some of the additional questions answered in the report on bicycle parking rack market include-

What are the key actionable insights on competitive dynamics and industry participants’ behavior of bicycle parking rack market?
What are the key sustainability strategies adopted by the key players of bicycle parking rack market?
Will recreational activities like cycle sports, bicycle race, and so on provide revive the demand in bicycle parking rack market?
How will pervasiveness of motorbikes and four wheels as compared to bicycles inhibit growth of bicycle parking rack market?
How will parking solutions blended with advanced security facilities catalyze growth of bicycle parking rack market?

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