Bicycle Apparels & Accessories Market-Overview:
Increased engagement in outdoor activities and increased knowledge of the benefits of these activities on a child's health have driven the global cycling apparels and accessories market in recent years. According to Market Research Future, the market will gain a CAGR of 5.05% and reach a value of USD 9,529.1 million by 2027.
The global Bicycle Apparels & Accessories Market grew due to increased participation in outdoor activities and an increase in the number of triathletes. Despite the growing popularity of outdoor activities among the public, the pandemic has had a negative impact on the participation of persons with stay-at-home orders in outdoor activities around the world.
Competitive Analysis:
Corporations need to think about automating low-value, time-consuming manual processes. The major concerns for businesses are future market access for competitors and the peer group's deep funds for acquiring market share. The company transformation's purpose was to maximize potential throughout the value chain. Despite their importance, companies' risk monitoring and mitigation strategies fall short of their board of directors' expectations. Organizations can benefit greatly from successful data, technology, and analytics integration. In order to develop a solid reporting and monitoring strategy, a combination of internal staff and external advisors must be used to integrate company knowledge with information about best practices. For executives improving customer experience is a top strategic priority, but rising expectations, fast-changing technologies, and market upheaval make it challenging to achieve. During this crisis, connectivity has been the most important enabler of social involvement. All stakeholders must work together to build the digital infrastructure to support new forms of remote working and advance the digital way of life.
The renowned companies in the Bicycle Frame Manufacturers are Giant Bicycles, Inc (TaiwanTrek Bicycle Corporation (US), Rapha Racing Limited (UK), POC Sports (Sweden), PEARL iZUMi (US), Manifattura Valcismon S.P.A. (Italy), ASSOS of Switzerland GmbH (Switzerland), Fox Head Inc (US), Adidas AG (Germany), 100% Speedlab, LLC (US), Specialized Bicycle Components, Inc. (US), Black Sheep Cycling (Australia), Velocio. (US), Pas Normal Studios (Denmark) and Vaude (Germany).
Bicycle Apparels & Accessories Market Segment Analysis:
The segmental study of the bicycle apparels & accessories market is carried out on the basis of type, category, distribution channel, and region.
The bicycle apparels & accessories market type segment consists of helmets, pants & shorts, shoes, jerseys & tees, gloves, goggles & glasses, protection gears, and socks.
The region segment of the bicycle apparels & accessories market consists of Asia-Pacific, South America, North America, Europe, and the Middle East & Africa.
The bicycle apparels & accessories market category segment consists of road bikes, mountain bikes, and city bikes. The distribution channel segment of the bicycle apparels & accessories market consists of store-based, which includes supermarkets & hypermarkets, specialty stores, and non-store-based.
Regional Analysis:
The regional overview of the Autonomous Bicycles apparels & accessories market includes Asia-Pacific, South America, North America, Europe, and the Middle East & Africa. One of the most significant growth factors of the regional market is the expanding product portfolio of leading manufacturers, which includes innovation in colors, materials, and designs of various product kinds. Technology advancements, such as the usage of LEDs and airbags in helmets, are projected to impact the region's overall bicycle apparel and accessories industry. In 2019, the European cycling apparel and accessories market held the largest share of the global market. In 2019, Germany, the United Kingdom, France, and Italy dominated the market, with Italy predicted to be the fastest-growing country-level market during the forecast period. Every year, a number of cycling events are held in the region, and many people participate, resulting in increased sales of bicycle equipment and accessories.
Recent Developments:
Few developments occurred in recent times, influencing the market growth of bicycle apparels & accessories are listed below:
- In February 2021, POC Sports introduced the world's first self-powered helmet, "Omne Eternal," which integrates Powerfoyle, an innovative light-harvesting material, which can convert any light source—indoor or outdoor—into electrical power.
- In March 2021, Speedlab introduced New Rideley and New Fade Colors of Spring 2021, including SP21 Active Performance sunglasses under the Ridely brand.
- In March 2021, Adidas AG partnered with Peloton Interactive, Inc.,a US-based exercise equipment company, to launch a range of off-bike clothing, such as hoodies, sweatshirts, and joggers, in a range of sizes, including plus sizes.
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