New York, Sept. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Bicycle Frames Global Market Report 2022” – https://www.reportlinker.com/p06319468/?utm_source=GNW
Cicli Pinarello SRL, Quest Composite Technology Corporation, Specialized Bicycle Components Inc, SCOTT Sports SA, Velocite Tech Co Ltd., Felt Racing, Harison Cycles, Kona Bikes and Pinion GmbH.
The global bicycle frames market is expected to grow from USD 24.30 billion in 2021 to USD 27.03 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. The bicycle frame market is expected to reach $42.47 billion by 2026 at a CAGR of 12.0%.
The bicycle frames market consists of the sale of bicycle frames by entities (organizations, independent traders, and partnerships) that are used to hold the entire bicycle together and allow one person to sit and steer the bicycle . The bicycle frame refers to the main structural part of the bicycle where the various components are assembled into the frame.
A bicycle’s frame contributes to its ability to get from point A to point B safely and comfortably.
The main types of bicycle frames are mountain, hybrid, road and other frames. A mountain refers to a natural elevation of the earth’s surface rising more or less abruptly to a peak and reaching a higher elevation than a hill, usually over 2,000 feet.
The materials used are aluminum, steel, carbon fiber, titanium and other materials. Relevant distribution channels are online and offline.
Asia-Pacific was the largest region in the bicycle frames market in 2021. North America is expected to be the fastest growing region during the forecast period.
Regions covered in this Bike Frames market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
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The growing use of bicycles is expected to propel the growth of the bicycle frame market in the future. Bicycles refer to a vehicle with two wheels in tandem, handlebars for steering, a saddle seat and pedals by which it is propelled.
Improvements in social infrastructure in developing countries have encouraged people to choose bicycles as a mode of transportation. The growing demand for bicycles is also increasing the demand for bicycle frames.
For example, in 2021, according to CBC News, a Canadian-based news outlet mentioned an increase in the number of bicycles by 75% compared to the previous year, 2020. Therefore, the increasing use of bicycles leads to the bicycle growth. frames market.
Product innovations are a key trend gaining popularity in the bicycle frame market. Major companies operating in the bicycle frame market are focusing on developing new product innovation solutions to strengthen their position in the market.
For example, in February 2021, Giant Manufacturing Co. Ltd., a China-based bicycle designer and manufacturer, introduced XTC Advanced SL 29 as a new bicycle frame. This new product is light, efficient and offers a competitive advantage for climbing, acceleration and spirit.
In February 2022, Cardinal Cycling Group, a US-based bicycle manufacturer, acquired Detroit Bikes for an undisclosed amount. This acquisition will help Cardinal Cycling Group expand its bicycle manufacturing in Asia and will also help expand the product line in the United States and Europe.
Detroit Bikes is an urban bicycle and bicycle frame manufacturer based in the United States.
The countries covered in the Bicycle Frame market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06319468/?utm_source=GNW
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