Global Bike Locks Market Overview:
Bike lock or bicycle lock is a device that is used to prevent theft of bike by unauthorized access. More people in cities opting to use bicycles as their mode of transportation to travel to and from work, theft prevention has now become a necessary consideration for many cyclists who buy expensive bikes. Fruther, cycling took off as a trend across many urban areas, it has led some cyclists into spending huge amounts on locks that would guarantee them their bikes would remain safe from theft. There are several types of locks available in the market that offers protection, convenience, and portability. Innovations in the bike lock market, including smart locks with IoT integration, advanced materials that increase durability, and advanced locking mechanisms, are significantly transforming the industry and attracting tech-savvy consumers. In addition, increasing consumer demand for customizable options, colors and designs reflects the growing interest in personalized locks. Manufacturers across the globe are increasingly expanding their presence through online sales channels in order to offer greater access and choice to consumers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (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 |
Influencing Trend:
Technological Advancement and Development of Smart Locks With Bluetooth and IoT Integration
Market Growth Drivers:
Increasing Use of Bicycle for Urban Transportation and Health Awareness and Rising Theft Concerns of Bicycles Especially Which Are Used for Commercial or Public Transport Purpose
Challenges:
Stiff Competition Due to Presence of Large Number of Small and Local Companies in the Global Market
Restraints:
High Cost Associated With Smart and Technologically Advanced Bike Locks
Opportunities:
Growing Demand of Compact and Lightweight Locks for Bike Security
Competitive Landscape:
The key players are targeting the innovations of the Solutions with better quality, better technical characteristics. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market.
Some of the key players profiled in the report are Decathlon (France), Giant Bicycles (Taiwan), Assa Abloy AB (Sweden), Hero Cycles (India), Bridgestone Corporation (Japan), Kryptonite (United States), ABUS (Germany), OnGuard (United States), Wenzhou Golden Key Lock Co., Ltd. (China), Master Lock Company LLC (United States), Plus 8 Industries Ltd. (United Kingdom), LINKA Smart Locks (United States) and Litelok (United Kingdom). Analyst at AMA Research see United States & European Vendors to retain maximum share of Global Bike Locks market by 2030. Considering Market by Category, the sub-segment i.e. U-Locks will boost the Bike Locks market. Considering Market by Sales Channel, the sub-segment i.e. OEMs will boost the Bike Locks market. Considering Market by Material Type, the sub-segment i.e. Steel will boost the Bike Locks market.
What Can be Explored with the Bike Locks Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Bike Locks Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Bike Locks
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bike Locks market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Bike Locks market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Bike Lock Manufacturers, Suppliers & Distributors, Bike Manufacturers and Distributors and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.