BICYCLE AND COMPONENTS MARKET ANALYSIS

Bicycle and Components MarketSize and Trends

Market Insight- Global Bicycle and Components Market

Source: Coherent Market Insights

Market Trend

1. Growing adoption of lightweight bicycles among consumers

Increasing focus on lightweight bicycles is expected to be the major trend in the global bicycle and components market during the forecast period. This is owing to advent of composite materials and engineering plastics that help to reduce bodyweight of bicycles. Moreover, production of polymer-based components and lightweight plastics results in significantly lower emission as compared to manufacturing of metal frames and components of bicycles. Introduction of composites technology, manufacturers can meet legislative requirements set for the industry and gain competitive edge in the market.

2. Increasing need for greener vehicles is expected to be another major trend in the market

Since bicycles do not require any form of fossil fuel or energy, they do not produce harmful greenhouse gases such as CO2. Moreover, governments of various countries are supporting fuel-efficient vehicles and implementing strict regulatory policies on the use of gasoline-powered vehicles, in order to reduce air pollution. This, in turn, is expected to increase the adoption of bicycles and boost their demand in the near future.