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Bicycle Accessories Market Rising Awareness of Bicycle Sharing System Expected to Fuel the Demand for Bicycle Accessories | Accell Group N.V.,Avon Cycles,Garmin,Shimano,Merida Industry,Samchuly Bicycle

Bicycle Accessories Market Rising Awareness of Bicycle Sharing

The global bicycle accessories market was pegged at approx. 2.4 Bn units at the end of 2018, and is projected to grow at a CAGR of around 7% during the forecast period (2019-2029), and go to 5.0 Bn units by the end of 2029. Bicycle accessories are standard features on bicycles that are meant to enhance their effectiveness, scope safety, comfort and visibility. Some bicycle accessories also provide an attractive look to the bicycle.
Under the scope of our research, we have considered bicycle accessories that are fitted in the aftermarket, and those accessories that are not mandatory while purchasing the bicycle. We have also studied the replacement rate of bicycles under the scope of the study. Low labor cost and manufacturing of affordable and economic range products in developed regions are important factors that are expected to create growth opportunities in the bicycle accessories market during the forecast period.

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Key Developments in the Bicycle Accessories Market

The global bicycle accessories market is a fragmented market, and unorganized players hold a significant share in the market. Some of the well-known manufacturers in the bicycle accessories market are Accell Group N.V., Avon Cycles Ltd, and Campagnolo S.R.L., among others.
• In August 2018, Accell Group N.V. successfully completed the acquisition of VELOSOPHY. By making this acquisition, the company has accelerated its innovation strategy that is focused on the development of urban mobility solutions.
• In March 2018, the Accell Group N.V. announced it was acquiring a 100% stake in Beeline Bikes, a mobile bike services company in North America, in sync with the company’s strategy to expand its mobile bike services.
• In 2018, Avon Cycles Ltd collaborated with French company - Cronus Sports Science & Technology Co., Ltd., in order to introduce bicycles of a French pedigree into the Indian market.
Moreover, prominent bicycle accessory manufacturers are introducing new products in the market in order to increase their sales and mark their footprint across the globe. These key developments are expected to boost the growth of the bicycle accessories market throughout the forecast period.

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Bicycle Accessories Market: Competitive Landscape

The bicycle accessories market is highly fragmented market, and unorganized players hold prominent share in the market. Tier-1 bicycle accessories market players have a strong presence only in developed economies, due to high purchasing power and demand for branded products. China is expected to hold a prominent share in the global bicycle accessories market.

Key Questions Answered in the Bicycle Accessories Market Report
• What are the historic (2014-2018) trends in the bicycle accessories market?
• Which type of light source is preferred for bicycle accessories?
• What are the key factors that will accelerate the growth of the bicycle accessories market?
• What are the key success factors in the bicycle accessories market?
• What are some of the prominent forecast factors estimated to affect the growth of the bicycle accessories market?
• How competitive is the bicycle accessories market, and what is the market share of top bicycle accessory manufacturers?
• How are prominent players expected to perform in the next 5 to 10 years?

Rising Number of e-Bikes and Application of Bicycles in Recreational and Trekking Activities to Push Bicycle Accessories Market Growth

The bicycle accessories market is correlated with bicycle sales. The bicycle market is being driven by the collective use of electric bicycles. Electric bicycles account for a significant share in the developing economies of the world, such as China. Moreover, governments of several countries promote electric bicycles in order to reduce carbon emissions and also traffic congestion.
For instance, in India, the government has taken up many initiatives such as 'Startup India' and 'Make in India', with the objective of boosting the manufacturing sector and also reducing the cost of manufacturing. These factors increase the sales of bicycles, which is estimated to boost the growth of the bicycle accessories market over the forecast period. Furthermore, low labor costs and favorable business conditions in developing countries such as India, China, and Mexico are expected to attract numerous manufacturers to invest in the manufacturing sector. This factor will create opportunities for the augmentation of electric bicycles, and will affirmatively impact on the growth of the bicycle accessories market.

Table Of Content:

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations

2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends
3.1. Key Trends Impacting the Market

4. Key Success Factors

5. Global Bicycle Accessories Market Demand Analysis 2014-2018 and Forecast, 2019-2029
5.1. Historical Market Volume (‘000 Units) Analysis, 2014-2018
5.2. Current and Future Market Volume (US$ Mn) Projections, 2019-2029
5.3. Y-o-Y Growth Trend Analysis

6. Global Bicycle Accessories Market - Pricing Analysis
6.1. Regional Pricing Analysis By Product Type
6.2. Global Average Pricing Analysis Benchmark

7. Global Bicycle Accessories Market Demand (in Value or Size in US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029
7.1. Historical Market Value (US$ Mn) Analysis, 2014-2018
7.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis

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About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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