Global Bicycle Carbon Frames Market 2020-2024 | Development of High-Performance Carbon Fiber to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 5, 2019--
The global bicycle carbon frames market is expected to post a CAGR of more than 15% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global bicycle carbon frames market 2020-2024. (Graphic: Business Wire)
Consumers in developed and developing countries such as the US, Germany, Netherlands, China, and India are exhibiting a strong demand for premium bicycles. This is due to rising disposable incomes and growing affinity toward cycling among people. Also, with the popularity of e-bikes, many countries are witnessing a significant rise in the demand for carbon fiber bicycles. As a result of these factors, the demand for bicycle carbon frames is expected to increase during the forecast period.
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As per Technavio, the development of high-performance carbon fiber will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Bicycle Carbon Frames Market: Development of High-Performance Carbon Fiber
To meet the demand for premium bicycles, manufacturers are increasing the use of high-performance materials to offer light and durable bicycles. The use of high-performance carbon fiber improves the performance of bicycles in terms of impact resistance, vibrational dampening, and weight. As carbon fiber constitutes a major portion of bicycle carbon frames, this trend will have a positive impact on the growth of the global bicycle carbon frames market.
“Apart from the development of high-performance carbon fiber, the use of 3D printing in bicycle manufacturing and increasing online purchase of bicycle carbon frames are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Bicycle Carbon Frames Market: Segmentation Analysis
This market report segments the global bicycle carbon frames market by geography (APAC, Europe, MEA, North America, and South America) and application (manual bicycles and e-bikes).
The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing popularity of sporting activities such as road bicycle racing and mountain bike racing in the region.
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Five Forces Analysis
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INDUSTRY KEYWORD: SPORTS BIKING/CYCLING
SOURCE: Technavio Research
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PUB: 11/05/2019 06:30 AM/DISC: 11/05/2019 06:30 AM