Bike Rack Market – Introduction
A bike rack is a device used to hold a bicycle, and is also known as bicycle carrier or bicycle stand. A bicycle carrier is attached to a vehicle (truck, bus, or car) and the bicycle is mounted on it. A bicycle carrier used for transportation of bicycles can be mounted in the front, rear, and on top of the vehicle. On the other hand, a bicycle stand is a device to which bicycles are attached securely for the purpose of parking. Bike racks can be free standing or attached to some stationary object or bolted to the ground. An indoor bike rack is used for private parking while outdoor bike racks are used in commercial areas. The most effective bike racks are those which can secure both wheels and frame.
Bike Rack Market – Competitive Landscape
CycleSafe is a U.S based company founded in 1980. CycleSafe holds the first patent in the U.S for bicycle storage. Along with bike racks, the company provides bike lockers, bike shelters, bike stations, and bike locker digital access. CycleSafe covers commercial, university, college, health care, municipal, retail, schools, and the corporate sector.
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SecuraBike was founded in 1995. From the past 20 years, SecuraBike
is involved in manufacturing and installing bicycle parking equipment and bike repair stations. In 2012, it opened a new office in China. SecuraBike has a wide range of products to choose from and also gives bike racks on rent.
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Giant bicycle brand was founded in 1972 by King Liu in Taiwan. The company has 12000 retail stores around the world, spread across 50 countries. Giant was the first company to make carbon fiber bikes. It provides on road, off road, X road, and E bikes along with rider gear, bike gear, and service gear.
Bike Rack Market – Dynamics
People these days are concerned about pollution and harmful gases emitted by vehicles and are also inclined toward fitness. The best alternative to a motorcycle is a bicycle. Use and installation of bike racks depends on the number of people riding a bicycle. Cycling has numerous benefits and it helps individuals to stay fit. Cycling improves strength, coordination, and balance. Recent trends show that the cycle market has grown in recent years and may further grow in the future at a good growth rate. Bike rack sales depend on the sale of bicycles. Riding a bicycle and its benefits are surfacing on social media, and promotional events have given a boost to cycle demand and in turn bicycle racks. Many companies and residential societies have implemented bicycle sharing platforms which has further given a boost to bicycles and racks. Companies have started installing secure bike parking, showers, and facilities to make things easier for employees cycling to work.
Bike Rack Market – Segmentation
The bike rack market can be bifurcated on the basis of:
- Distribution channel
Bike Rack Market Segmentation – by Type
On the basis of type, the bike rack market can be segmented into:
- Bike carrier
- Bike stand
Bike Rack Market Segmentation – by Style
Based on style, the bike rack market can be categorized into:
- U rack
- Wave rack
- Bollard style rack
- Grid style rack
- Rack mounted on top
- Rack at rear
- Rack in front
Bike Rack Market Segmentation – by Mount
- In ground mount
- Roof mount
- Surface mount
- Hitch mount
- Rail mount
- Spare tire mount
- Wall mount
- Trunk mount
- Removable mount
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Bike Rack Market Segmentation – by Finishing
- Powder coat
- Thermoplastic coated
- Recycled plastic
Bike Rack Market Segmentation – by Distribution Channel
In terms of distribution channel, the bike rack market can be split into:
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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