Bicycle Bearings Market reach a value in excess of US$ 8 Bn in 2027, expanding aPosted by Pradnya on March 4th, 2020 Bicycle bearings have a notable replacement rate. Moreover, the bicycle fleet is expanding at a pace. Driven by these factors, the global sales of bicycle bearings will be prominent via aftermarket, and would reach a value in excess of US$ 8 Bn in 2027, expanding at a robust CAGR during the forecast period of 2017-2027. Traffic congestion will remain a major concern for commuters, increasing demand for bicycles, and in turn, bicycle bearings. The adoption of bicycles aids in the preservation of natural resources that power various modes of transport. Additionally, one does not need to hold a license to ride a bicycle, which makes these vehicles a cheap, healthy, and viable option for anyone. Request For Report Sample@ https://www.persistencemarketresearch.com/samples/31044 Key Takeaways
The bicycle bearings aftermarket holds significant market share in the global bicycle bearings market, and is showing drastic growth with the expanding sales of electric and hybrid bicycles. Competition Overview The bicycle bearings market has become increasingly sophisticated as manufacturers are looking to lower cost and increase margins through the use of more stylish, lightweight & extra lightweight bicycle bearings. Key players involved in the bicycle bearings market are
What Lies Ahead? PMR forecasts an increase in traffic congestion in the forecast period with highest levels of traffic within the confinements of tier 1 and tier 2 cities. Higher demand for vehicles coupled with slower road infrastructure growth can result in increase in vehicles on the road, beyond the rated capacity, leading to congestions, creating surge in demand for bicycles, and subsequently bicycle bearings. Though fuel prices have come down as compared to prices of 2014 due to over exploitation and refining, it is likely that the prices may shoot up in the forecast period due to not so favorable demand for electric vehicles and decreasing resources. However, it must be noted that, exponential increase in prices can take place beyond 2028, and is estimated to create high growth for bicycle bearings in the forecast period. Know More About the Report Inclusions Persistence Market Research has published a market research report on the bicycle bearings market that contains global industry analysis for 2013–2017 and opportunity assessment for 2018–2027. The report provides insightful analysis of the bicycle bearings market through five different segments, namely, product type, bicycle type, application, sales channel, and region. The bicycle bearings market report also provides demand and supply trends, with a detailed overview of the parent market. About PMR’s Expertise in Automotive Domain Persistence Market Research’s team of Automotive market experts has been tracking the industry for nearly a decade now. The team has authored 1,000+ reports, covering a broad spectrum – from passenger cars and freight to components and railways. Our market research includes market sizing, forecasting, product and market segmentation, and a detailed discussion on prevailing and anticipated market conditions. Reach out to us for more information on how we can help. Like it? Share it!More by this author |