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Bicycle Accessories Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Bicycle Accessories
The Business Research Company's Bicycle Accessories Global Market Report 2023 identifies e-bike sales as the major driver for the Bicycle Accessories market's growth in the forecast period. Bicycle accessories assist the rider in riding a bicycle by providing various accessories such as a helmet, battery, front lamp, rear lamp, front lamp, and alloy pedals.
the global bicycle accessories market is expected to grow from $12.26 billion in 2022 to $13.30 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bicycle accessories market is expected to reach $17.94 billion in 2027 at a CAGR of 7.8%.
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Major competitors in the Bicycle Accessories market are Continental AG, Garmin Ltd., Shimano Inc., Giant Manufacturing Co. Ltd., Trek Bicycle Corp., Fox Factory Inc., Accell Group N.V.
A key trend in the Bicycle Accessories market includes product innovations. Major companies operating in the bicycle accessories market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2022, Sigma Sport, a Germany-based manufacturer of electronic sports equipment, introduced the AURA 100 and BLAZE LINK lighting sets to let cyclists train and relax securely and comfortably. It includes an innovative link function, where lights can be coupled with each other in a flash through BLE, which can be switched on and off via the AURA 100 LINK front light and controlled intuitively. Furthermore, in Auto mode, an integrated brightness sensor automatically switches both lights on and off, ensuring visibility and safety even during the day.
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The Bicycle Accessories market is segmented -
• By Product: Apparels, Components
• Bicycle Type: Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes, Other Bicycle Types
• By Marketplace: Original Equipment Manufacturer (OEM), Aftermarket
• By Sale Channel: Offline, Online
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Bicycle Accessories market.
The Business Research Company's "Global Bicycle Accessories Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Bicycle Accessories Market Include:
1. Bicycle Accessories Market Executive Summary
2. Bicycle Accessories Market Segments
3. Bicycle Accessories Market Size And Bicycle Accessories Market Growth Rate
4. Key Bicycle Accessories Market Trends
5. Major Bicycle Accessories Market Drivers
……
25. Key Mergers And Acquisitions In The Bicycle Accessories Market
26. Top Bicycle Accessories Companies
27. Bicycle Accessories Market Opportunities And Strategies
28. Bicycle Accessories Market, Conclusions And Recommendations
29. Appendix
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