According to the report published by Allied Market Research, the global bicycle maintenance products market was estimated at $1.3 billion in 2021 and is expected to hit $2.1 billion by 2031, registering a CAGR of 4.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
Forecast Period 2022-2031
Base Year 2021
Market Size in 2021 $1.3 Billion
Market Size in 2031 $2.1 Billion
CAGR 4.7%
No. of Pages in Report 257
Segments Covered Product Type and Region.
Drivers Rise in prices of bicycles
The
fact that growing awareness about the health benefits of cycling has
made cycle owners become more conscious of bicycle cleaning, frequent
lubrication, polishing, and other bicycle maintenance activities.
Restraints
Certain health risks associated with the use of solvents, such as
alcohol ethoxylates, iminodisuccinic acid tetrasodium salt, and others
that are further used in producing various bicycle maintenance products
Less awareness about using the products in the underdeveloped countries
Opportunities Growing inclination toward electric bicycles among individuals
However, as the global situation was back on track, the market also started gaining traction slowly and steadily.
The
global bicycle maintenance products market is analyzed across product
type and region. The report takes in an exhaustive analysis of the
segments and their sub-segments with the help of tabular and graphical
representation. Investors and market players can benefit from the
breakdown and devise stratagems based on the highest revenue-generating
and fastest-growing segments stated in the report.
𝐃𝐨 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/A30818
By
product type, the grease and lubes segment held more than two-thirds of
the global bicycle maintenance products market share in 2021, and is
expected to dominate by 2031. The same segment would also cite the
fastest CAGR of 1.3% throughout the forecast period. The other segments
analyzed through the report include cleaners, braking oil, and
degreaser.
Based on region, the market across Europe generated
more than three-fifths of the global bicycle maintenance products market
revenue in 2021, and is anticipated to retain the lion's share by 2031.
The same region would also manifest the fastest CAGR of 1.1% during the
forecast period. The other provinces analyzed through the report
include LAMEA, North America, and Asia-Pacific.
The key market
players analyzed in the global bicycle maintenance products market
report include Dr. O.K. Wack Chemie GmbH, Duck Smart, Dumonde Tech
Design Group, Fenwicks Ltd., FINISH LINE USA, JUICE LUBES, MAXIMA RACING
OILS, CeramicSpeed, White Lightning Co., MOTOREX-BUCHER GROUP AG,
MUC-OFF, PEATY'S, PMS Products Inc., Rock N Roll Lubrication, SILCA,
Squirt Cycling Products, Tri-Flow, Weldtite Products Ltd, and ProGold.
These
market players have embraced several strategies including partnership,
expansion, collaboration, joint ventures, and others to highlight their
prowess in the industry. The report is helpful in formulating the
business performance and developments by the top players.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/bicycle-maintenance-products-market/purchase-options
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