The demand within the global bicycle accessories market is set to escalate in the years to follow. Growing inclination of the masses towards physical activity and fitness has created ripples across the bicycle manufacturing sector. There has been humongous demand for new-age technologies in bicycles, and this is an important dynamic of market expansion. Riders prefer to equip their bicycles with speedometers and other devices that can help in manoeuvring and handling of the bike. This is an important consideration for the vendors operating in the global bicycle accessories market. These vendors are expected to focus on developing leading-edge technologies for assisting bikers. In view of the factors stated herein, the growth index of the global bicycle accessories market is projected to improve.
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This review is a deft explanation of the trends and dynamics that have aided the growth of the global bicycle accessories market. Transparency Market Research (TMR) throws light on some of the leading factors that have driven sales across this market in recent times. The need to ride bikes with all safety measures has necessitated the use of bicycle accessories. Several bicycle accessories are meant to offer better control and vision to riders. Besides, use of certain bicycle accessories such as light and bells is mandatory across a number of regions. Therefore, the total volume of revenues within the bicycle accessories market is slated to escalate.
Global Bicycle Accessories Market: Notable Development
- The leading vendors operating in the global bicycle accessories market have tapped into the needs and requirements of the masses. Some of the riders cycle across long treks, through woods and wild tracks. This makes it necessary for them to equip their bike with premium support accessories for tyres and seats. The quest of the market players to stay congruent with the needs of bikers shall aid market expansion.
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- The trend of customization of bicycles has gathered momentum in recent times. This trend could give an impetus to the growth of the global bicycle accessories market, mainly because customization is impossible without the use of premium accessories. The market vendors can leverage this propensity of bikers to earn fresh revenues.
Key Players
- Giant Manufacturing Co., Ltd.
- Avon Cycles Ltd
- Garmin Ltd.
- Campagnolo S.R.L.
- Shimano Inc.
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