Industry Outlook and Trend Analysis
The Bicycle Components Market was worth USD 3.78 billion in the year of 2014 and is expected to reach approximately USD 5.61 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.48% during the forecast period. As bicycles are an eco-friendly method of commutation, their satisfying extra utility as exercise instrument is a major factor for their expanding requirement. The fast advancement of component technology in bicycle mechanism is appealing users to buy the contemporary models of street bicycles, mountain bicycles and city bicycles. Additionally, the rising demand for commuter bicycles having condition-particular segments has gained demand in the current past and is predicted to impact the bike components market development.
Application Outlook and Trend Analysis
On the basis of application, electric bicycles fragment is foreseen to witness a generally higher CAGR when contrasted with different portions amid the conjecture time frame. Enhanced battery life and consolidation of high-devotion battery innovation used as a part of four wheelers have fundamentally improved their execution, which is boosting their request in the market.
Technology Outlook and Trend Analysis
On the basis of technology, metal segments are anticipated to remain the predominant fragment of the market throughout the years, though constant fiber composites portion is evaluated to witness the quickest development. This is to a great extent ascribed to the developing interest for lightweight bikes from customers.
Component Outlook and Trend Analysis
In terms of component, the frames fragment is foreseen to witness the most astounding development on the basis of value amid the estimate time frame. The fragment is nearly trailed by the rims section.
Regional Outlook and Trend Analysis
In terms of regional prospect, the market in Europe is anticipated to be the most advantageous on the basis of revenue, whereas, the market in Asia Pacific is foreseen to encounter the fastest growth, in terms of value during the period of assessment.
The leading players in the market are Mitsubishi Rayon, Currie Technologies Inc, Sabic Innovative Plastics India pvt Ltd, Cannondale Bicycle Corporation, BASF, Giant Bicycles Inc, Accell, TORAY, Avon Cycles Ltd and Atlas Cycles Inc. Manufacturers are extensively focusing on creating enhanced and lightweight components.
The Bicycle Components Market is segmented as follows-
Discontinuous Fiber Composites
Continuous Fiber Composites
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?