According to a new market research report published by Credence Research “Bicycle Frames Market (By Material: Aluminum, Steel, Titanium, Carbon Fiber and Magnesium; By Types: Mountain Bikes, Road Bikes, Children’s Bikes, Folding Bikes and Others) – Growth, Future Prospects, Competitive Analysis and Forecast 2018 – 2026”, bicycle frames market is expected to grow at a CAGR of 5.1% during the forecast period from 2018 to 2026.
Rising concerns pertaining to air pollution coupled with increasing health awareness among people across the world have led to the growing popularity of bicycles in the recent years. A significant portion of the population has been preferring usage of bicycles over other modes of transport for regular commute. In addition, rising demand for bicycles for various sports and recreational activities has further boosted the demand for bicycles. Numerous end users of bicycles have shown a growing interest in bicycle frames made from advanced material such as carbon fiber and titanium in order to achieve higher level of robustness and stability in riding. Furthermore, various bicycle enthusiasts have been working towards building their own customized bikes by procuring and installing individual components such as bicycle frames. With growing adoption of bicycles across the world, the demand for bicycle frames is expected to continue during the forecast period from 2018 to 2026.
The global bicycle frames market is fragmented in nature with numerous providers operating all across the world. However, major manufacturers of bicycle frames are concentrated in the Asia Pacific region leveraging lower labor and material costs in countries such as China, Taiwan and India, among others. These players cater to a large amount of demand from bicycle brands located in various parts of the world. North America and Europe are home to specialized manufacturers of bicycle frames which offer customized solutions to their end users. Some of the leading manufacturers of bicycle frames include ADK Technology Limited, Advanced International Multitech Co. Ltd., Cicli Pinarello SRL, Dengfu Sports Equipment Co. Ltd., Felt Racing, LLC, Giant Manufacturing Co Ltd., Ideal Bike Corporation, Kona Bikes, Pinion GmbH, Quest Composite Technology Corporation, SCOTT Sports SA, Specialized Bicycle Components, Inc., TOPKEY CORPORATION and Velocite Tech Co Ltd.
The complete report is available on Bicycle Frames Market at http://www.credenceresearch.com/report/bicycle-frames-market
- Increasing use of carbon fiber and titanium for manufacturing of bicycle frames
- Large concentration of bicycle frame manufacturers in the Asia Pacific region
- Increasing labor costs in developing countries coupled with rising trend of local production driving manufacturers back to North America and Europe regions