Global Bicycle Accessories Market Overview:
Bicycle accessories are refer as the extra parts which can be attach to the bicycle to address the problems which can be face on the road or trail. This accessories can be helmets, gloves & warmers, LED lights, mirror, bottle cage, pump or any thing. Such accessories are attach to the bicycle for too many reason, it can be for transforming the simple look of bicycle to a new one or it can be for some essential reason during rising and all. The market of the bicycle accessories is driving sue to various opportunities such as low labor cost and affordable manufacturing cost.
Growth Drivers
- Growing fitness activity across the globe
- Increasing inclination towards various accessories for travelling purpose
Roadblocks
- Availability of cheaper substitutes in the market
Opportunities
- Low labor cost and manufacturing of affordable at economic range products
Challenges
- Dominance of local players
Competitive Landscape:
Prominent bicycle accessory manufacturers are introducing new products in the market in order to increase their sales and mark their footprint across the globe. Such key developments are expected to boost the growth of the bicycle accessories market throughout the forecast period, which is creating competitive landscape.
Some of the key players profiled in the report are 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), Endura Ltd. (United Kingdom), Raj Cycles India Private Limited (India) and Eastman Industries Limited (India). Analyst at AMA Research see Indians Vendors to retain maximum share of Global Bicycle Accessories market by 2027. Considering Market by Distribution Channel, the sub-segment i.e. Offline will boost the Bicycle Accessories market.
Latest Market Insights:
Accell Group N.V. successfully completed the acquisition of VELOSOPHY. By making this acquisition, the company has accelerated its innovation strategy that is focused on the development of urban mobility solutions.
Avon Cycles ltd collaborated with French company, Cronus Sports & Technology Co. Ltd.,, in order to introduce bicycles of a French pedigree into the Indian market.
What Can be Explored with the Bicycle Accessories Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Bicycle Accessories Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Bicycle Accessories
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 Bicycle Accessories 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 Bicycle Accessories 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 Industry Investors, Manufacturers, End User Industries, Traders, Distributors, and Suppliers, Government and Research Organizations and Associations and Industry Bodies.
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.