Published on : Sep 10, 2019
The global bicycle accessories market has been projected to expand at a substantial rate at over the forecast period 2019 to 2029 reveals an upcoming report by TMR.
The global bicycle accessories market has been increasing due to various factors. The sports enthusiasts are expected to create a demand for the accessories such as helmets, fenders, glasses, etc. Therefore, sport bicycles segment is expected to push the global bicycle accessories market during the forecast period.
Technological Advancement to Surge Global Bicycle Accessories Market
Bicycles have been in the market since time immemorial, but, with the changing times it is not a mere cycle. Cycling is now a different experience not just a mode of transport. This has led to advent of high tech accessories to cater the different needs of cyclists. Some of the latest accessories in the market include-
Garmin Edge 820- Garmin 820 is similar to a GPS system installed in the car. Here, it prompts the safest route while cycling. It also provides the user with detailed directions about every turn that a cyclist will take. It also prompts about the terrain and monitor the user statistics such as heart rate, blood pressure, and speed etc.
Garmin Edge 820 has been performing well in the market ever since it was introduced last year. Although there are alternatives such as Polar 450, but Garmin is ahead the race because of its performance, reliability, and innovation. Moreover, it is value for money invested in the product. Garmin has introduced advanced products such as Edge 1000 and 1030 for higher training metrics. Thus, the technological advancement in the product line is expected to drive the global bicycles accessories market in future.
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Asia Pacific Leads Bike Accessories Market
The global bicycle accessories market is expected to be led by Asia Pacific market due to increasing population and rising purchasing power of people.