1. Business

Global Bicycle Brake Components Market Analysis & Professional Market Research Report | Growth Market Reports

Disclaimer: This is a user generated content submitted by a member of the WriteUpCafe Community. The views and writings here reflect that of the author and not of WriteUpCafe. If you have any complaints regarding this post kindly report it to us.

The Global Bicycle Brake Components Market was valued at USD 33.6 Million in 2019 and is projected to reach USD 48.6 Million by 2027 expanding at a CAGR of 5.8 % during the forecast period, 2020-2027. Bicycle brakes are considered to be one of the prominent parts of a bicycle, as they decelerate the force reducing the speed and halting the cycle. The components of the braking system such as disc brake, rim brake, coaster brake, duck brake, and drag brake are often made from aluminum due to its properties such as lightweight, strength, and corrosion-resistance. Other components of a bicycle’s brakes include brake pedal, brake pads, rear brakes, and hand lever. Bicycle brake components are different for various bicycles, as they are differentiated on the basis of applications such as downhill vehicles and mountain bike vehicles.

Market Dynamics

The global bicycle brake components market is driven by factors such as increasing demand of bicycle in rural area. Advancements in bicycles such as the introduction of e-bikes and the addition of various bicycle segments such as racing bikes, kid bikes, and fitness bikes. Moreover, growing number of bicycle brake manufacturers is expected to crate traction and boost market growth during the forecast period.

Segmental Outlook

 In terms of types, the global bicycle brake components market is segmented into rim brake, disc brake, drum brake, coaster brake, drag brake and band brake. The disc brake segment is expected to hold a significant share of the market, and is projected to expand at high CAGR during the forecast period. Rim brakes are said to be one of the most effective braking systems; therefore, they’ve been extensively used for many years. Disc brakes are not connected to the rim; therefore, they work even if the tires are warped, thereby providing superior braking. These factors have significantly increased the demand for these breaks in the past few years. Conversely, drum brakes are considered to be weather resistant and are commonly used in utility bicycles and commuter bikes. The drum brakes mechanism work with a cable that is attached to the hand lever and gets triggered as the lever is pulled. The large drum braking system provides stronger braking than the smaller ones, as the braking power of the drum brakes depends upon its size.

Regional Outlook

 In terms of regions, the market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Countries such as, Taiwan, China, and Japan, are actively engaged in foreign expansions, due to increasing population and availability of niche resources. Moreover, countries such as Japan and Taiwan are leading manufacturers of bicycles, which attract large number of industries from the region. North America holds the highest value share in 2019 whereas Asia Pacific is expected to expand at highest CAGR during the forecast, followed by Latin America and the Middle East & Africa.

Click For Free Sample Report – https://growthmarketreports.com/request-sample/108

Competitive Landscape

  • Key players in the market include Maxway Cycles Co., Ltd, TEKTRO TECHNOLOGY CORP, SHIMANO INC, SRAM LLC, Gustav Magenwirth GmbH & Co. KG, Fibrax Limited, Hayes Performance Systems, TRP CYCLING COMPONENTS, Promax Components, and Galfer USA. These companies are considered as key manufacturers of bicycle brake based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition and geographical expansion where potential opportunity for the bicycle brake extraction is added in the company’s capacity.
  • Active involvement of major players in R&D, increasing usage of bicycle brake in refrigeration are the key trends in the market.

About Growth Market Reports:

GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

Contact:

Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter

0

Login

Welcome to WriteUpCafe Community

Join our community to engage with fellow bloggers and increase the visibility of your blog.
Join WriteUpCafe