There are many different types of protective gears are available to protect different parts of body such as helmets and face covers, knew protection, elbow protection, arm sleeves, gloves, horns and sensors. Bicycle safety gear market has shown a significant growth in last few years as many people are started adapting bicycle for routine life as they are more concerned with environmental factors. Bicycle safety gears have become essential equipment for cycling as there is rapid rise in number of cycling accidents on road, to protect riders and reduce risk of accidents people are also using bicycle safety gears such as loud electric horns and lights that help to increase visibility.Rise in innovation of bicycle safety gear is prime factor in growth of global bicycle safety gear market.
COVID-19 Impact Analysis-
- During COVID-19, globally many industries were suffering from economic crises; spread of COVID-19 virus has led to great ramificationson global bicycle safety gearmarket.
- To control spread of corona virus diseases, nation-wide lockdown was imposed by government resulted in huge disruption in supply chain of raw material and looming of production cycle of globalbicycle safety gear. Restraints were imposed by government on several sports equipment stores that led to great hampering in demand of bicycle safety gear market.
- Restraints were imposed by government on several cycling events and tournaments that is resulted into great decline in demand of bicycle safety gear.
- E-commerce has played prominent role in uplifting supply chain of bicycle safety gearas it helps to cover wider range and cater demands of customer. Customers are also started shifting to online shopping method and hesitating and avoiding to going for instore purchases to control spread of corona virus diseases.
Top Impacting Factors-
- In last few years there is rapid rise in number of bicycle accidents on roads, these accidents are usually caused due to less visibility on road and rash driving of peoples. Bicycle safety gears are lifesaving gadgets as bicycle accidents may causes chronic injuries and disposition, bicycle safety gears helps to avoid accidents and helps to reduce accidental consequence while cycling. Key players have also introduced some new bicycle safety gears that help to enhance safety of cyclist and increase visibility of bicycles on road. Rise in number of bicycle accidents cases is key factor in growth of global bicycle safety gear market.
- Key player are highly investing in innovation of products and engaged with research &development process, to offers improvised and innovative products to catering demand of consumers and to compete with competitors and rival products.Key players have introduced many new and unique bicycle safety gears that has some essential features such as holding airbag helmet, these helmets are 8 time safe than other normal airbags as it has collision detection system that helps to detect collision and open air bag 0.1 seconds. Many key manufacturers also introduced ice dot crash sensor, these is gadget usually mounted on helmet and detect accidental or emergency situations and send an alert to emergency contact person, this gadget is a life saver gadget. They have also introduced loud electronics bicycle horns with sense light that helps to increase visibility of bicycles and helps to make other people attentive, these electronics horns are more effective than normal horns. Innovation in bicycle safety gears is a prominent feature in growth of global bicycle safety gear market.
- Many organisations are conducting cycling event and certification programs every year to promote cycling tourism and cycling activities across the world. Cyclist are using bicycle safety gears while performing in several events such international cycling race, Tour de Singkarak, Tour de Flores, Tour de siak and international tour de, winners of these cycling events is awarded with certificates and other different benefits. Bicycle safety gears help to avoid reduce risk of saviour injuries that may led to permanent disabilities or disposition of bones. In many bicycle tournaments, wearing of bicycle safety gear is become mandatory to participate. Rise in number of bicycle tournaments and an event is a key driver in growth of global bicycle safety gear market.
Rise in Trend of Using Electrical Bicycle for Traveling
- Many people have started adapting electric bicycle for traveling as they are more concerned with environmental factors, environmental pollution is rising at significant rate to control and reduce environmental pollution people have started shifting towards electrical bicycles. Electrical bicycle are help reduce stress level and boosting paddling speed with help of machine. Many peoples are using electric bicycle for long route, to reduce chance of some hazardous accident peoples are using bicycle protective gears. Bicycle safety gears helps to reduce risk of injuries whereas preventive gears such as horns and censors are used as preventive measures. Rise in trend of using electrical bicycle for traveling is key trend that is fuelling growth of global bicycle safety gear market.
Rise in Number of People Choosing Cycling as Hobby
- Many peoples are opting cycling as hobby as it helps people to maintain healthy and fit life, cycling helps to reduce risk of many saviour diseases such as diabetes, heart diseases, cancer, obesity and stroke. Cycling is a good muscle exercise as cycling led to movement of whole body muscles while paddling and helps to build stamina, cycling helps in treatment of various factures and injuries as it helps to improve balance and strength. Peoples are using bicycle safety gear as a preventive measure, they are also attracted towards new and digital bicycles safety gear as it looks attractive and have various features such as navigation and kilometres tracking device. These devices are coming with some essential features such as censors for detecting hazard and inform emergency contact people about uncertain event. Rise in number of people choosing cycling as hobby is utmost factor that is boosting growth of global bicycle safety gear market.
Key Benefits of Report-
- This study presents the analytical depiction of the bicycle safety gear industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the bicycle safety gear market share.
- The current market is quantitatively analysed to highlight bicycle safety gearmarket growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed bicycle safety gear market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Report –
- Which are the leading players active in the bicycle safety gear market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is the bicycle safety gearmarket prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the current trends and predicted trend
Bicycle Safety Gear Market Report Highlights
By Product Type
By Price Point
By Distribution Channel
Key Market Players
Specialized Bicycle Components Inc., Mondragón Cooperative Corporation, LimarSrl, UVEX SPORTS GmbH & Co.KG, Trek Bicycle Corporation, Dorel Industries Inc., Vista Outdoor Operations LLC, MET SPA., SCOTT Sports SA., KASK S.p.a.