The transmission parts segment by parts accomplished the largest revenue share in Europe Bicycle Parts and Accessories Market – 6Wresearch
By Parts, Transmission registered the highest revenue share because the wear and tear are reported maximum in the transmission parts of the bicycle be it chains, Gear set or Breaking system besides this customization of bicycles often requires the change of transmission system parts, increasing penetration towards mountain bicycle among adventure enthusiast has boosted the demand of new bicycles and the consumer often prefers bicycles which are modifiable instead of opting for two Bicycles simultaneously.
According to 6Wresearch, Europe Bicycle Parts and Accessories Market is expected to grow at a CAGR of 9.3% during 2023-2029. Europe Bicycle Parts and Accessories Market registered significant growth during the year 2019-2020 owing to booming consumer demand, expanding bicycle market with around 20 million units sold in 2019, and increasing investment in cycling infrastructure. Moreover, the rising health and environmental concerns would further push the bicycle parts and accessories market in Europe. The market is expected to grow at a healthy rate owing to rising fuel prices, transition to a green economy, and rising cycling infrastructure as Germany, Spain, and Italy are upgrading and expanding the EuroVelo network including EuroVelo 7 – Sun Route (Verona-Florence), adding 392km, and on EuroVelo 8 – Mediterranean Route (Venice-Turin), adding 732 km in Italy and others. Further with increasing potential in the E-bike segment in Europe, as more individuals express interest in utilizing them as a dependable, secure, and environmentally friendly means of transportation along with government funding and stringent regulations are anticipated to support the growth of the Europe Bicycle Parts and Accessories Market.
According to Ravi Bhandari, Research Head, 6Wresearch, Germany followed by Italy and France is the most significant industry for bicycle parts and accessories attributed to the continent’s overall sales originating from these countries. Germany along with France and Italy will remain the most significant market of the continent in the years to come.
The Europe Bicycle Parts and Accessories Market (2023-2029) report provides an in-depth analysis with 39 figures and 12 tables, covered in 97 pages. The report comprehensively covers the market by parts, types, and countries. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.