Bicycle Bags Market size to grow by USD 31.65 mn | Arkel and ASG International SRL Among Key Vendors | Technavio

·4 min read

NEW YORK, Dec. 1, 2021 /PRNewswire/ -- North America will dominate the bicycle bags market during the forecast period. The market size is expected to increase by USD 31.65 mn from 2021 to 2026, accelerating at a CAGR of 4.07%.

Attractive Opportunities in Bicycle Bags Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026
Attractive Opportunities in Bicycle Bags Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026

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Market Dynamics

Factors such as growing disposable incomes and government initiatives to promote cycling will be crucial in driving the growth of the bicycle bags market. However, the presence of counterfeit products and stringent government regulations for procuring raw materials such as leather will restrict the market growth.

Company Profiles

The bicycle bags market report includes information on the product launches, sustainability, and prospects of leading vendors. Some of these vendors include Arkel, ASG International SRL, Axiom Cycling Gear, Basil BV, ORTLIEB Sportartikel GmbH, Thule Group AB, TOPEAK Inc., Trek Bicycle Corp., VAUDE Sport GmbH and Co. KG, and Vista Outdoor Inc.

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Competitive Analysis

The competitive scenario provided in the bicycle bags market report examines, assesses, and positions companies based on various performance indicators. A few of the factors considered for this analysis include the financial performance of companies over the last few years, product innovations, growth strategies, new product launches, investments, growth in market share, etc.

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Market Segmentation

  • Based on distribution channel, the market is classified into offline and online. The offline segment will contribute the largest share of the market.

  • Based on geography, the market is classified into North America, Europe, APAC, South America, and MEA. North America is expected to have the largest share of the market.

Regional Analysis

Technavio's market forecast report includes detailed information on the competitive intelligence, marketing gaps, and regional opportunities for vendors to assist organizations in creating efficient business plans. According to our analysis, 42% of the market's growth is expected to originate from North America during the forecast period. The US and Canada are the key countries for the bicycle bags market in the region. Factors such as growth of the online sales channel and the availability of import options in North America will drive the bicycle bags market growth in the region.

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Bicycle Bags Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.07%

Market growth 2022-2026

USD 31.65 million

Market structure

Fragmented

YoY growth (%)

3.60

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 42%

Key consumer countries

US, Germany, UK, France, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arkel, ASG International SRL, Axiom Cycling Gear, Basil BV, ORTLIEB Sportartikel GmbH, Thule Group AB, TOPEAK Inc., Trek Bicycle Corp., VAUDE Sport GmbH and Co. KG, and Vista Outdoor Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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