Mobility-as-a-Service to redefine the Bicycle Components Market

New York, United States, 2022-Apr-14 — /EPR Network/ —

Global Bicycle Components Market during 2022-2030

PMR analysis says that, the global Bicycle Components Market is anticipated to expand at a healthy CAGR of over 5% during the forecast period of 2022-2030.

Bicycles are the most economical mode of transportation used in rural as well as urban areas across the globe. They are used by various demographics, and find use in personal as well as professional spaces. Bicycle production is highly dependent on the production of bicycle components, as they form critical elements in bicycle construction. With varied end-user requirements, the bicycle components market has evolved over the years with the introduction of integrated technologies, riding safety, new materials, and advanced features for all types of bicycles. Rising carbon emission concerns have led to increased use of bicycles across regions, which is another factor pushing the growth of the global bicycle components market.

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Key Players:

The report has profiled some of the Important players prevalent in the global like – SRAM LLC, KMC Group, Shimano Inc, Giant Manufacturing Co. Ltd, Campagnolo S.r.l, Atlas Cycles Ltd, Hayes Bicycle Group, Dorel, Industries Inc, Tektro Technology Corporation, Merida Industry Co. Ltd and more.

Key Takeaways from Bicycle Components Market Study

• Growth in population will create significant demand for bicycles, and indirectly surge the need for bicycle components. East Asia is the largest base for consumption as well as production of bicycles.
• In Europe, government regulations to boost green transportation have led to a spike in the number of people using bicycles for transportation. The bicycle components market in Europe is expected to grow at a healthy CAGR over the forecast period.
• Gradual inclination of today’s youth toward cycling sports has had a positive impact on the sales of sports bicycles such as mountain bikes and cruiser bikes. Cycling events across the globe attract many sponsors, which has also provided a commercial perspective toward using mountain bikes. The mountain bikes segment dominates the Europe market in terms of volume and value.
• Developments in component materials have led to improved performance characteristics, advanced mechanical properties, and lightweight construction. However, this has also led to increased costs.
• Due to restrictions brought about by the COVID-19 pandemic, production of bicycle components has been hit, which will negatively impact market growth in the short term.

“Bicycles will continue to be used in future because they act as a tool to reshape mobility with very little effort.  The future of bicycles will be dominated by digital technologies, which will make their way into every bicycle component and provide ultimate riding satisfaction,” says a PMR analyst.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Bicycle Components Market Manufacturers
Bicycle Components Market Distributors/Traders/Wholesalers
Bicycle Components Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

Key Questions Answered in This Report.

• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?

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