NEW YORK, July 5, 2021 /PRNewswire/ --
The bicycle gearbox system market is expected to grow by USD 2.12 billion during 2021-2025, according to the latest market research report by Technavio.
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Globally, there has been a rise in the number of commuters who prefer bicycles for their everyday activities. This is attributed to rising fuel prices and the need to reduce the air pollution caused by automobiles. For instance, many people in Europe now prefer bicycles to work. Besides, governments and municipal bodies in the region are constructing bicycle-friendly streets. Similarly, China is observing an increase in the number of commuters using battery-operated bicycles. With the growing adoption of bicycles, the demand for bicycle gearboxes will increase during the forecast period.
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As per Technavio, the availability of multiple gearbox configurations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Bicycle Gearbox System Market: Availability of multiple gearbox configuration
A variety of gears are available for bicycles in the market. Some are single-geared and some are multi-geared. The gear ratio is fixed in the single-geared system. In the case of a multiple gear system, a set of gears is used that allows riders to choose suitable gear ratios based on the terrain. This improves comfort and efficiency while riding. For instance, the derailleur gear systems are widely preferred in mountain bikes, whereas hub gear systems are preferred in bicycles that are used for long-distance riding. The availability of such multiple configurations is increasing the acceptance of bicycles among a variety of riders, thereby driving the market growth.
"An upsurge in bicycle users and the introduction of bicycle-sharing programs will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Bicycle Gearbox System Market: Segmentation Analysis
This market research report segments the bicycle gearbox system market by type (multiple gear and fixed gear) and geography (Europe, North America, APAC, South America, and MEA).
The Europe region led the bicycle gearbox system market in 2021, followed by North America, APAC, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increased use of bicycles, especially in rural areas in the region.
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Related Reports on Consumer Discretionary Include:
Global Bicycle Motors Market – Global bicycle motors market is segmented by type (hub motor and crank motor) and geography (APAC, Europe, North America, South America, and MEA).
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Global Bicycle Crank Motor Market – Global bicycle crank motor market is segmented by motor power (300W crank motor, 200W crank motor, and 400W crank motor) and geography (APAC, Europe, MEA, North America, and South America).
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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