Carbon Fiber Bike Market is Slated to Witness Tremendous Growth in Coming Years | by Alchemy Bikes, Colnago Ernesto & C. S.r.l, Cube Bikes

New Jersey, United States - Analysis of Carbon Fiber Bike Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The Carbon Fibre Bike Market is worth USD 2.23 billion. The market is anticipated to expand at a CAGR of 8.3% between 2021 and 2028, rising from USD 2.33 billion in 2021 to USD 4.08 billion in 2028. The COVID-19 pandemic's effects have been unprecedented and devastating on a global scale, with demand for this Carbon Fibre Bike declining slightly in every region. Our analysis showed that the global market would have a 6.1% reduction in 2020. When the pandemic is gone, this market's demand and growth will resume to pre-pandemic levels, which explains the abrupt increase in CAGR. The market expansion will be aided by the escalating upcoming developments in the automotive, aerospace & defence, and wind energy industries.

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The need for lightweight cars is expected to increase along with the demand for automobiles, which is expected to drive the Carbon Fibre Bike industry as a whole. The industry forecast is primarily driven by the demand for fuel-efficient vehicles and stringent government rules addressing carbon emissions.

The epidemic is causing OEMs and suppliers at all levels to reevaluate their supply chain models, from the sourcing of raw materials to the manufacturing of final goods. For instance, GM, Ford, and FCA stopped making parts in the United States and switched to making COVID-19 medical equipment. Toyota also stopped producing in Europe due to governmental constraints on the disruption of the supply chain, declining sales, and human movement. Honda shut down its four U.S. auto facilities as a result of the coronavirus outbreak-related market slump.

Up to 40% of contemporary aircraft are made of composite materials. For instance, the Boeing 787 Dreamliner passenger airliner is made up of almost 50% by weight of composite material, primarily sandwiched or laminated carbon fibre. The aircraft's main body, wings, tail, and fuselage are all made of fibre materials. Boeing claims that because carbon and other composite materials do not corrode, they require less maintenance. The product is becoming more well-known in the sporting world. The market expansion in sports & leisure applications will be driven by the rising use of high-performance and lightweight materials in sporting goods. Tennis rackets made from this material are lighter and more atypically formed, enabling players to strike the ball faster.

Segment Analysis:

The market is divided into aviation, aerospace & defence, automotive, wind turbines, sports & leisure, construction, and others based on the application. In 2020, the aviation, aerospace, and defence sector held the largest market share, and it's possible that it will maintain that position for the foreseeable future. Airbus and Boeing's increasing aircraft output is projected to fuel Carbon Fibre Bike Market expansion. In the aircraft sector, composite materials are utilised for interiors, engine blades, propellers/rotors, brackets, single-aisle wings, and wide-body wings, among other things. In addition, aerospace engineers are attempting to increase the safety and sustainability of flying, which has resulted in the usage of fibre composite materials in space shuttles, planes, and helicopters.

Due to its high performance and lightweight characteristics, carbon composites are frequently used in the aerospace, automotive, construction, oil & gas, and wind energy industries. However, the product is more expensive than metal. A significant barrier preventing the widespread use of carbon composites in many industries is the product's price. The yield and price of the precursor used to make CF have a direct impact on its price. Currently, PAN-based carbon fibres have a conversion efficiency of just 50% and cost an average of USD 21.5 per kg for non-aerospace grade materials.

Regional Analysis:

Europe, which had a market value of USD 0.76 billion in 2020, is anticipated to rule the Carbon Fibre Bike market during the projection period. The presence of a sizable base of electric car manufacturers and the rising demand for lightweight and fuel-efficient automobiles are credited with the region's growth. Regional market expansion is probably being driven by the aerospace & military industry's accelerating utilisation. Automobile manufacturers invest in R&D to create carbon composite materials that are affordable, driving the region's automotive industry.

The size of the North American market is projected to be driven by the increasing demand for Carbon Fibre Bike in the industry. Some of the major players operating in the area include Airbus, United Airlines, Inc., The Boeing Co., and American Airlines Group Inc. The construction and demand for wind farms in this area have increased as a result of the rising demand to use renewable resources.

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Competitive Analysis:

Corporation (Missouri, U.S.) Hexcel Corporation (Connecticut, U.S.) TEIJIN LIMITED (Tokyo, Japan) TORAY INDUSTRIES, INC. (Tokyo, Japan) Solvay (Brussels, Belgium) Formosa M Co., Ltd. (Gyeonggi-do, Korea) Mitsubishi Chemical Carbon Fibre and Composites, Inc. (California, U.S.) Nippon Graphite Fibre Co., Ltd. (Hyogo, Japan) Advanced Composites Inc. (Utah, U.S.) HYOSUNG ADVANCED MATERIALS (Seoul, South Korea)

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