Industry Background:
In the era of post covid situation many fitness enthusiasts sifted to Bicycling as an alternative to closed Gyms and to maintain social distancing norms. Road riding, time trailing, cyclo-cross, mountain biking, street cycling, BMX, and cycle speedway are some of the different types of bicycle racing. Artistic riding, cycle polo, freestyle BMX, and mountain bike trials are examples of non-racing cycling events. Cyclers require to carry essential materials including water bottles, Mobile Devices, etc. throughout their journey especially for long distance cyclers and professionals. This void is fulfilled by Bicycle Bags and Bag-packs as the sale of bicycles spike its impact is reflected on the demand for cycling bags across the globe. European market is characterized by key players in the industry relative to other regions which create an opportunity for new players to establish.This growth is primarily driven by Growing Fitness Awareness facilitated Demand for Cycles
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Unit |
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 Roswheel (China), Rockgeist (United States), Raidagears (India), Aero Tech Designs Cyclewear (United States), B'Twin (Decathlon) (France), Cosco In. Ltd. (India), Deuter Sport (Germany), Asgard Equipamiento (Argentina), Benjoy Inc. (Philippines) and Nivia (India), 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:
In September 2023, Timbuk2 announced a partnership with Chrome Industries to develop a new line of bicycle bags. The two companies will combine their expertise in bag design and manufacturing to create a line of bags that are both stylish and functional.
In October 2023, Osprey Packs announced the launch of the new Atmos AG Series, a line of lightweight and comfortable backpacks for cyclists. The new backpacks feature Osprey's Anti-Gravity suspension system, which helps to distribute the weight of the pack evenly and reduce fatigue.The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Influencing Trend:
Innovation in Bicycle Bag Designs
Market Growth Drivers:
Growing Fitness Awareness facilitated Demand for Cycles, High Investments in Celebrity Endorsement and Increasing member of Bicycle Users in Europe
Challenges:
Raw Material Price Fluctuation and Market Penetration
Restraints:
Additional Weight and Discomfort in Riding
Opportunities:
Low Penetration in Asian Region and Demand for Sustainable Alternatives to Motor Bikes
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 Bicycle Bags and Bag-packs 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 Bicycle Bags and Bag-packs 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 Bicycle Bags and Bag-packs 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, Bicycle Bags and Bag-packs Study Sheds Light on
The Bicycle Bags and Bag-packs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bicycle Bags and Bag-packs industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bicycle Bags and Bag-packs 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.