U.S. & Canada Bicycle Accessories Market 2022
The North American bicycle accessories market is valued at US$ 2.33 Bn in 2022. Demand for bicycle accessories in North America is set to increase at 4.2% CAGR and reach US$ 3.53 Bn by 2032. Electric, Mountain, and Road Bikes to Account for 75% Demand for Bicycle Accessories: Persistence Market Research Study.
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Market growth is the result of the significant impact of technology, macroeconomic environment, and environment-conscious consumer behaviour that is driving the sales of bicycles and e-bikes.
Over the decade, demand for sports bicycles will rise as more people use bicycles for recreational and trekking purposes and cycling competitions. In the past few years, there has been an increase in the number of biking expeditions to challenging terrains such as steep mountain ranges. As such, from 2022 to 2032, the market for bicycles and bicycle accessories is likely to develop due to the increasing popularity of such adventures.
Key Companies-
- Accell Group
- Avon Cycles Ltd
- Campagnolo S.R.L.
- Garmin Ltd.
- Shimano Inc.
- Giant Manufacturing Co., Ltd.
- Merida Industry Co Ltd
- Samchuly Bicycle Co., Ltd.
- Trek Bicycle Corporation
- DT SWISS
- Endura Ltd.
- Eastman Industries Limited
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Key Takeaways from Market Study
- By product, speedometers are anticipated to witness prominent demand growth at 6.2% CAGR by volume during the forecast period of 2022 to 2032.
- Under bicycle type, the electric and others segment is projected to expand at a value CAGR of 7.7%.
- By country, the U.S. is anticipated to witness substantial demand growth for bicycle accessories and hold a value share of 79.3% in North America.
- By sales channel, offline sales are estimated to hold a prominent volume share of 65.9% in 2022.
“Governments in the U.S and Canada are supporting the use of electric bicycles to reduce both, road congestion and carbon emissions. Additionally, growing use of bicycles in recreational and trekking activities and rising number of e-bikes will drive the demand for bicycle accessories in the region,”says a Persistence Market Research analyst.
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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