Bicycle Gearbox System Market by Geography and Type — Forecast and Analysis 2020–2024
The bicycle gearbox system market size has the potential to grow by USD 1.57 billion during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by geographic landscape (Europe, North America, APAC, South America, and MEA) and type (multiple gear and fixed gear). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Campagnolo Srl, effiGEAR SAS, Efneo sp Zoo, Fallbrook Technologies Inc., microSHIFT, Pinion GmbH, Rohloff AG, Shimano Inc., SRAM, and Sun Race Sturmey Archer Inc.
The growing number of bicycle users because of the use of superior quality materials and advanced components is one of the major factors that will fuel market growth. There is a growing preference for gear bicycles from individuals in developed countries. Cycling has been ranked among the top 10 recreational activities in the US. Additionally, the increasing number of mountain trekkers has influenced the demand for gearboxes, which help cyclists in obtaining the optimal result.
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The market has seen a shift from traditional gears to electronic gears, one of the vital bicycle gearbox system market trends. Advanced gears avoid the teething problem and provide a reliable system. These electronic gears provide riders with easy access to change gears and do not require much maintenance as the cables are eliminated, and the calibration is automated. This also reduces the mechanical work for riders as it comprises automatic mechanism and battery backup. With the growing demand, the vendors are focusing on developing new products with technological advancements to make bicycles more efficient. Such factors will drive market growth at a CAGR of almost 7%.
