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The Bicycle Accessories Market’S Growth Is to Be Defined by Innovation Continuously

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The Bicycle Accessories Market is stated to place itself in good stead In Upcoming Years. With the breakneck pace being witnessed regarding digital technologies, organizations across the globe are putting their best foot forward for serving their customers at ease. With over 40% of the IT budget being allocated to digitization, more than 70% of the workplaces have either resorted to it or are into the adoption mode herein. This trend is likely to change the entire industry scenario, with no room for mediocrity, as every solution would be tailor-made.

The need for flexible material storing and stacking architectures with new safety features and resource efficiency for all industries is a vital driving factor for the global bicycle accessories market. The industrial manufacturing sector has witnessed significant growth in recent years, which is estimated to persist over the coming years. As demand for bicycles surges across regions, especially e-bikes, mountain bikes, and road bikes, the need for bicycle accessories will be greater than before. There will be especially high demand for helmets, saddles, and fenders, and the customization trend will get even stronger over the coming years.

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The global bicycle accessories market is estimated to expand at a healthy CAGR of close to 7% over the forecast period of 2021-2031.

Company Profiles:

Continental AG
Accell Group N.V.
Avon Cycles Ltd.
Campagnolo S.R.L.
Garmin Ltd. Shimano Inc.
Giant Manufacturing Co., Ltd.
Merida Industry Co Ltd
Samchuly Bicycle Co., Ltd.
Raj Cycles India Private Limited
Endura Ltd
Eastman Industries Limited
DT Swiss AG

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Key Takeaways from Global Bicycle Accessories Market Study

Manufacturers are focusing on introducing lightweight bicycle accessories with better performance characteristics for all terrains. Such new technologies will set up growth of the market.
Low-cost manufacturing in parts of South-East Asia and Africa, and new transport corridors, are expected to provide significant opportunities in the logistics sector, which will directly boost demand for bicycle accessories.
European markets such as Germany, Denmark, and the Netherlands have appropriate cycling infrastructure, in addition to government laws and regulations that implement the provision of subsidies for the adoption of e-bikes.
South Asia & Pacific is picking up in the market due to robust outlook for bicycle sales. Aggressive marketing by perspective distributors in key countries of South Asia & Pacific and MEA could further benefit players in these regions.
During the COVID-19 pandemic, bicycles were flying off the shelves in major cities, worrying distributors that they may run out of supplies amid a lack availability of workers in factories. Sales even zoomed after the easing of lockdowns in several cities across the world, and a large chunk of demand came from fitness enthusiasts shut out from their gyms hitting the empty streets.
East Asia is projected to account for around half of the global demand for bicycle accessories.
Accessories for road bikes will be required the most, accounting for close to 30% of overall demand.
Specialty bike retailers and online sales will account for close to two-third of all sales of bicycle accessories.

“Growing traffic and worsening pollution & air quality are throwing special focus on the cycling culture as an environmentally-friendly mobility option. With continuous changing market conditions, companies are focusing on strengthening their distribution channels and also on online sales via own web shops and third-party online stores to synchronize with ongoing market trends,” says a Persistence Market Research analyst.

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Market Landscape Continues to Remain Moderately Fragmented

The global bicycle accessories market has been identified as a significantly fragmented market, with the unorganized sector occupying a major section of the overall market. Tier-1 manufacturers account for a minimal share in the global market. Some leading players included in the report are Giant Bicycles Inc., Accell Group, Shimano Inc., and Merida Industry Co. Ltd. Manufacturers such as Campagnolo S.R.L., Hero Cycles Ltd Specialized Bicycle Accessories, and tier-3 manufacturers such as Hero and many regional manufacturers across the globe are anticipated to create a tough competitive environment on a global level.

Global Bicycle Accessories Market: Conclusion

The global bicycle accessories market will grow substantially attributing to increasing sales of bicycles and larger audience opting for e-bikes that are environmentally-friendly. Also, government regulations on environment welfare are putting pressure on manufacturers to develop their products with technological innovations. Low-cost manufacturing of parts in South-East Asia and Africa and new transport corridors are expected to provide lucrative opportunities for the bicycle accessories market.

Want to Know More?

Persistence Market Research has published a market research report on the global bicycle accessories market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, product, bicycle, sales channel, and region. The report also provides supply and demand trends, along with an overview of the parent market.

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Original Article: manometcurrent.com

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People of Play Announces the the Winners of the Annual Young Inventor Challenge

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(PRWeb November 22, 2021)

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(PRWeb November 22, 2021)

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Smint.io Named “Hot Vendor 2021” in Content Experience Platforms by Aragon Research

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Smint.io, a leading provider of Content Experience Platform solutions, announced it has been selected as one of four ‘Hot Vendors’ in Content Experience Platforms for 2021 by Aragon Research. Smint.io is the only European vendor that has been selected in this category. Vendors selected for the “Hot Vendor” report are noteworthy, visionary, and innovative.

(PRWeb November 19, 2021)

Read the full story at https://www.prweb.com/releases/2021/11/prweb18343873.htm

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