Industry Background:
Cycling equipment is the parts that are attached to the bicycle to address the problems which can be faced on the road or trail. The equipment such as helmets, gear, LED lights, mirror, bottle cage, and others are attached to the bicycle for too many reasons, it can be for transforming the simple look of a bicycle to a new one or it can be for some essential reason. The market of the cycle equipment is driving due to various opportunities such as low labor costs and affordable manufacturing costs.This growth is primarily driven by Increasing Inclination towards Various Accessories for Travelling Purpose
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Accell Group N.V. (Netherlands), Avon Cycles Ltd (India), Campagnolo S.R.L. (Italy), Garmin Ltd. (United States), Shimano Inc. (Japan), Giant Manufacturing Co., Ltd. (Taiwan), Merida Industry Co Ltd (Taiwan), Samchuly Bicycle Co., Ltd (South Korea) and Endura Ltd. (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On September 27, 2023, Shimano, a Japanese multinational manufacturer of bicycle components and fishing tackle, announced a partnership with Wahoo Fitness, a developer of fitness trackers and cycling computers. The partnership will see the two companies collaborate on the development of new cycling products and technologies.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Wearable technology has fitted into cycling over the past couple of years, with the aim of increasing the visibility on the road for the riders. The technology is getting smaller and more advanced. Tubeless was quickly adopted by mountain bikers, whereas road tubeless has been a slow burn. The e-bike, in particular, is currently undergoing a development, the electric motor has only pushed this development extremely again.
Market Growth Drivers:
Increasing Inclination towards Various Accessories for Travelling Purpose and Rising Preference for the Bicycle as an Exercise
Challenges:
Availability of Cheaper Substitutes in the Market
Restraints:
Fluctuations in Prices of Raw Materials
Opportunities:
Adoption of Advanced Bicycles and Lightweight Bicycles and High Demand for Bicycles in Developing Countries Due to Environment Concern
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Cycling Equipment Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Cycling Equipment Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Cycling Equipment players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cycling Equipment Study Sheds Light on
The Cycling Equipment Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cycling Equipment industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cycling Equipment industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.