Analysis of Bike Fenders market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The prominent transportation, bicycle is growing as sustainable means as across the geography. People with health concern also prefer bicycle for exercising and transportation. The transportation preference to bicycle also creates opportunities for associated industry such as gear and accessories. One of the vital parts of the bike is fenders or mudguard.
Bike fenders can be used as safety equipment in wet and slushy weather. Bike fenders protect the cyclist shoes, clothes and bicycle components from becoming wet. During the movement of the bicycle, the tires spray mud or water and make the further movement difficult. The bike fenders market is expected to grow due to the increase of bicycle fleet in the forecast period, 2018-2028.
The attraction of people towards sustainable transportation system such as the bicycle provides an opportunity for other markets. The rise in bicycle fleet or penetration across the globe is projected to contribute directly to the growth of global bike fenders market.
The protection against mud and water while cycling in the wet and slushy weather can be provided by bike fenders. Bike fenders shields the wheels and protects the cyclist from water and mud sprays. The essential features of bike fenders is likely to boost the growth of the global market in the forecast period.
The government initiative such as an awareness program to attract more people towards cycling and to provide the subsidy for purchasing bicycle likely to help for the growth of bicycling infrastructure. The macroeconomic factor through the growth of bicycling infrastructure is expected to contribute indirectly to the growth of global bike fenders market in the forecast period.
The global bike fenders market can be classified on the basis of regions as North America, Latin America, Europe, CIS & Russia, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East and Africa (MEA).
Among the segmented regions, North America is expected to hold a maximum share of global bike fenders market due to the increasing penetration of bicycle in the region. Europe and APEJ are projected to grow moderately for global bike fenders due to the growing bicycle penetration and bicycle fleet in the forecast period. Latin America and MEA are also increasing with a steady growth rate and expected to contribute more in the global bike fenders market in the forecast period, 2018-2028.
The growing bicycle fleet and attraction of people towards sustainable transportation are anticipated to boost the growth of the global bike fenders market in the forecast period.
The major players of global bike fenders market are
The key players of bike fenders are investing in the research and development of the product to attract more consumers. The subsequent work by manufacturers on providing the practical and economical product to the end users is expected to boost the global bike fenders market in the forecast period, 2018-2028.
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The bike fenders can be classified on the basis of bike type as mountain bikes, hybrid bike, road bicycle, and specialty bikes. The use of bike fenders are significant in road bicycles and are expected to hold maximum share in the forecast period.
The bike fenders can further be classified on the basis of materials as plastic, steel and iron and others.
The bike fenders market can also be classified on the basis of the buyer’s type as individual and institutional. An institutional segment is expected to hold a significant share of the global bike fenders market.
The bike fenders market can be classified on the basis of sales channel as direct-to-customer, sporting goods stores, modern trade channel and third-party online. Direct-to-Customer is expected to be the prominent sales channel and is anticipated to grow significantly in the near future.
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The bike fenders market worth is likely to grow at 3.9% over the forecast years.
Rising economic condition in emerging economies is driving the bike fenders market growth.
Asia Pacific region is expected to be most lucrative region for bike fenders industry players.
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