The Global Bicycle Peripheral Market size is expected to surpass USD 52.4 BN by 2025 according to a new research report by Value Market Research. The market was valued at USD 41.4 BN in 2018 and can grow at a CAGR of 3.5% during the study period of 2019-2025. The technological development in the bicycle industry as well as in the electronic gadgets and peripherals that are used by a rider has led to a huge growth in the production in the bicycle peripheral market. Carbon footprints and such other environmental concerns are leading to the increased usage of bicycles. Bicycle riding is also considered as both a great fitness and a recreational activity due to which the market is being exposed to a growth.
Bicycle peripherals involve every type of equipment that is used for riding a bicycle. It involves everything that is used for ensuring the rider’s safety and comfort. The peripherals generally involve headgear, apparel, eyewear, protective gear, GPS trackers and fitness watches.
The bicycle peripheral market has been classified into human wear, accessories, parts and components. Human wear is further classified into clothing, headgear, eye gear, storage units and wearable devices and all these peripherals have different varieties depending on the type of bicycle, age group of the rider, the terrain where the bicycle is going to be ridden and any other the requirement of the rider. In terms of application it has been segmented into Retail, Non-Retail and E-Commerce.
The report “Global Bicycle Peripheral Market Report By Product (Human Wear, Accessory, Parts and Components) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2018-2025” exposes the reader to a wide range of upcoming opportunities which can be used to harness profitability for the company.
The advantage that the bicycle peripheral market is exposed to is that bicycles do not need any external fuel for their functioning and as exhibited by the fuel market the fuel prices have also skyrocketed thus making bicycles an inexpensive and preferable mode of transport. Bicycles are also the best solution to issues such as traffic congestion and urbanisation thus bringing up the bicycle peripheral market too along with the increased sale of bicycles. Bicycles are also being used as alternatives to reduce pollution levels.
The regional segmentation of the bicycle peripheral market involves North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Germany is the largest manufacturer of bicycles in Europe and China is the largest manufacturer of bicycles in Asia-Pacific. India and Japan are also moving towards their growth gradually.
The Report Segments Global Bicycle Peripheral Market –
Players Profiled In The Report:
Jaggad, Trek, Specialized Bicycle, Rapha, Cube, Verge Sports, Hincapie, POC, Assos, Troy Lee, Giro, Castelli, Pearl Izumi, Shimano, Louis Carneau, Sugoi, Gore Bike Wear, Others
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