January 04, 2021
According to the research report titled ‘Global Bicycle Frame Market Size study, by Type (Alloy, Aluminum, Carbon Fiber, Composite, Scandium, Steel, Others) by Application (BMX Bike, Mountain Bike, Road Bike, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global bicycle frame market was valued at USD 20.6 billion in 2019 and is expected to record a 6.1% CAGR during 2020-2027.
Increasing acceptance of bicycles owing to growing health cognizance is primarily stimulating global bicycle frame market growth.
For those unversed, a bicycle frame is a basic structure that offers functionality and design to the bicycle. Traditionally, it is made from materials such as plastic, bamboo, aluminum, and steel. Notably, cycling is known to be a convenient form of exercise that promotes healthy lifestyle, and aids to manage obesity and other related issues.
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Escalating participation in recreational activities and sports is further augmenting global bicycle frame industry share. Citing an instance, United Nations General Assembly, in April 2018, declared 3rd June as World Bicycle Day, encouraging cycling events, thus promoting physical as well as mental health and wellbeing. As a result, in 2018, over 10,000 cyclists in New Delhi gathered to celebrate World Bicycle Day, and utilized it as an opportunity to introduce bike sharing system in the city’s core area.
In addition, mounting traffic congestion and growing awareness about environment safety among the population are contributing to global bicycle frame industry valuation.
Based on type, the market is split into steel, scandium, composite, carbon fiber, aluminum, alloy, and others. Elaborating on application spectrum, the industry is segmented into road bike, mountain bike, BMX bike, and others.
Considering the regional landscape, North America currently accounts for a major portion of worldwide bicycle frame market share, creditable to rising health cognizance and growing environmental concerns.
On the other hand, Asia Pacific bicycle frame industry is poised to amass massive returns by 2027, on account of booming population and rising disposable income.
Established players in global bicycle frame market sphere are F.I.V. Edoardo Bianchi S.p.A., Burley Design LLC, Calfee Design, Halter & Griswold LLP, Specialized Bicycle Components Inc., Hutch BMX, Carrera Bicycle, Litespeed, Rocky Mountain Bicycles, Miyata, and Motobécane.