Research Report Insights (RRI) forecasts modest growth for the global bicycles and components over the next decade. During this 10-year assessment, the market size is expected to grow to a CAGR of 3.5%, attaining a value of US $ 70.14 by the end of 2026. According to the company’s recent report entitled „Global Market Study on Bicycle and Components : US Market Expected to Remain Dominant in Terms of Value and Volume Through 2026, „The market wants to witness the popularity of lightweight bicycles. The report confirms continued dominance of Europe in the global bicycles and components market throughout the forecast period.
Rising awareness about physical exercising wants to make the demand for bicycles in near future. Moreover, a growing shift to eco-friendly transportation options, aggravated by burgeoning vehicle fuel prices, collectively foster the adoption. „Advent of cutting-edge bicycle components and technology is therefore important factor spurring the demand, in addition to providing consumers with a myriad options, such as road bicycles, city bicycles, mountain bicycles, etc.,“ the reports states further. Promising emergence of commuter bicycles with components.
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Amongst application segments, electric bikes. CAGR of 3.4% over 2016-2026, attributed to its superior battery life and high-fidelity battery technology. Other application segments include road bike, city bike, mountain bike, children bike, and others.
By technology, metal components will reportedly retain dominance through 2026. Owing to continuous growing demand for lightweight bicycles, fiber segment will gain higher traction, resulting in the highest CAGR of 4.3% during the assessed period. The third segment involves discontinuous fiber components.
On the basis of components, frames continue to lead saddles and rims, expanding at a relatively higher CAGR of 4.4% throughout the forecast period. Rims wants to represent the second largest component segment, according to Persistence Market Research.
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As per the company’s regional analysis, the global market for bicycles and components wants to see the maximum growth in Asia Pacific. However, the European market wants to continue to globally, representing the largest market size over 2016-2026. Accounting for the maximum revenue of over $ 13 bn by 2016 end, Europe wants to display moderate growth post-2016. APAC wants to witness a higher CAGR of 4.2% in terms of value.
„Global Market Study on Bicycle and Components: US Market Expected to Remain Dominant in Terms of Value and Volume Through 2026“, thus maintaining the dynamic competitiveness of the global market landscape , To mention a few of the leading companies, Giant Bicycles Inc., Atlas Cycles Inc., Avon Cycles Ltd., Cannondale Bicycle Corporation, Cycleurope AB, Accell Group NV, Caloi Inc., Merida Industry Co. Ltd., Currie Technologies Inc. , Dorel, Industries Inc., Shimano, Campagnolo Srl, Mavic, SunTour, Sachs-Huret, SABIC, Innovative Plastics, Toray Industrial, Mitsubishi Rayon, Toho Tenax, and BASF attract significant revenues.
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