Bicycle Accessories Market Highlights On Future Development 2029 | Samchuly Bicycle Co., Ltd
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.
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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.
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.
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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:
Gloves and Warmers
Jersey/ Tee/ Jacket
Front Basket and Luggage Carrier
Saddles and Covers
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