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Bicycle Gearbox Market Segmented By product type such as Multiple gear and Fixed gear with application such as Conventional bikes and Electric bikes (e-bikes)
Global bicycle gearbox market is directly correlated with the end users preference of having high-tech features incorporated in their bicycle. Though the bicycle gearbox is not a new technology, its penetration in the market varies on regional basis. Concerns regarding the climate change and public health are among several factors that drive the global bicycle and bicycle gearbox market. In the coming years, need for bicycles is likely to grow in the developed countries.
For the ease of use, the original equipment manufacturers are focusing on mechanisms that could minimize the stress on rider’s legs. For this, mountain bikes, sports bikes and other bikes are equipped with gearbox that provides varied speed and require varied efforts depending upon application or the type of terrain.
The bicycle gearbox is incorporated into the frame near the crank. The gearbox consists of spur gears that multiply the effort applied by the rider. Furthermore, prominent and eco-friendly cities are promoting bicycles commuting by creating dedicated and safer bike lanes, aiding the growth of bicycle gearbox market. In order to reduce vehicle traffic congestion and air pollution, the governmental authorities have implemented a bicycle subsidy program.
Additionally, the provision of dedicated cycling infrastructure within an urban environment has been found to significantly impact individuals to choose bicycles. Furthermore, with the growing leisure activities, an anticipation of a substantial growth of bicycle gearbox market is expected.
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Growing focus and awareness towards green movement, the need to address health problems, environmental sustainability, and higher gas prices augur well for the future of human-powered transportation. Higher disposable incomes and growing penetration of low-priced gear assisted bicycles by marketing push are some of the key factors driving the growth of bicycle gearbox market. Increase in the popularity of bicycle rental programs also contributes to the demand for bicycle gearbox in sports bicycles.
The price range of mountain and e-bikes are relatively higher than road bikes owing to employed bicycle gearbox. In some regions ordinary road bicycles are preferred, thus slows down the pace of bicycles gearbox market I particular region.
In order to offer comfort to the rider and facilitate long journeys, manufacturers are striving to develop a combination of human strength and electromechanical support through design modification in bicycle gearbox.
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Netherlands, country of cyclists holds a strong number of per capita bicycles. Western European countries such as Germany, Denmark, Finland, Norway, Switzerland, Belgium and Sweden witness the mammoth number of people dependent on bicycle rides for the commute. Healthy growth of bicycle gearbox market is expected in this region. Latin America is foreseen to witness slower growth in bicycle production. Over dependency on local consumers may affect the bicycle gear market.
Bicycle industry in India has progressively shifted track in contemporary years, switching from standard segment to the specials bicycles comprised of additional bicycle gears. This will likely boost the need for efficient bicycle gearbox. Increase in recreational activities at the tourist spots is anticipated to trigger the demand for mountain bicycles and subsequently, increases the installations of bicycle gearbox in the bicycles. China is one of the prominent manufacturers of e-bicycles and mountain bikes. Among the bulk of bicycles manufactured, a vast amount of bicycles are exported by the country.
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Example of some of the market participants in the global bicycle gearbox market discerned across the value chain include
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