The global eye shadow stick market leads to an estimated CAGR of 6% in the global market, during the forecast period and registers a revenue valued at US$ 18.41 Billion in 2022, and is expected to cross US$ 32.96 Billion by 2032. The bike saddles market is set to witness steady growth during 2021-2031, with a CAGR of around 8.1% – 8.9%. Growth is expected to be driven by an increase in the number of people cycling as a leisure. The preference for cycling as a convenient form of exercise to ensure a healthy life free from obesity and other disorders is expected to further drive the demand for bike saddles thereby expanding the market.
What is Driving Demand for Bike Saddles Market?
People are beginning to understand the importance of staying fit and leading a healthy life. They have also started to realize that regular cycling can keep disorders like obesity at bay. The market is likely to grow as more and more people are resorting to cycling as a regular exercise.
In addition, events such as the Tour de France and Ronde Van Vlaanderen are further increasing the popularity of these vehicles. Meanwhile, an increase in cycling events held in various countries in Asia, Africa and the Middle East is promoting the sale of mountain as well as road bicycles which in turn is increasing the demand for bike saddles.
Moreover, the adoption of leather saddles is expected to significantly increase the demand for bicycles as they are incredibly durable and classier. Chinese bike saddles companies are aggressively investing and expanding their operations to capitalize on market opportunities, especially in European countries. This is expected to further boost the growth of the market in the coming years.
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Continuous R&D and Celebrity Endorsement is Complementing the Market Sales
Increasing traffic congestion and lack of parking space, especially in metropolitan cities, are prompting people to consider cycling for shorter distances to save time. At the same time, various governments are aggressively pushing the necessary infrastructure to support cycle commutation, encouraging people to opt for bicycles.
This is expected to create a considerable demand for such product, thereby creating opportunities for the players operating in the bike saddles Market.
The outbreak of COVID-19 has definitely favored the growth of the market in the coming years as several governments across the world is promoting bicycles as the safest mode of transport, which enables people to maintain social distancing. In addition, the governments of major countries such as the UK and Italy provided subsidies on the purchase of new bicycles during the pandemic.
Hence, government support in the form of initiatives and subsidies, as well as increasing awareness about the benefits offered by cycles, augurs well for the growth of the market in the next few years.
US and Canada Bike Saddles Market Outlook
The US and Canada holds the maximum market share of bike saddles during the forecast period. The integration of advanced heated seats in heavy duty cruisers is one of the major trends being observed in the global bike saddles market. The bicycle market is witnessing high demand due to the availability of new models integrated with advanced safety, convenience and comfort systems.
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Europe Demand Outlook for Bike Saddles Market
Europe is expected to see significant growth over the forecast period. Europe is home to some cities that are considered ideal for cycling. Some of the most popular cycling events such as the Tour de France and Ronde van Vlaanderen are also held in Europe. European nations, including Belgium, Denmark, France and Italy, are aggressively advancing the infrastructure to support and encourage cycling and are contributing significantly to the growth of the regional market.
Moreover, the stores also offer personalized/customized shopping options, in which consumers can choose their personalized/customized bicycle saddle design and color. Plus, it allows the customers to get the product instantly. Moreover, availability of various branded bicycles in local supermarkets or other stores is likely to increase the demand for the bike saddles in the coming years.
Who are the Key Manufacturers and Suppliers of Bike Saddles Market?
Some of the leading manufacturers of bike saddles market include
- Zhonglu Co.Ltd.
- Merida Industry Co. Ltd.
- Selle San Marco
- Shenzhen Xidesheng Bicycle Co.Ltd.
- Shanghai Phoenix Bicycle Co.Ltd.
- Selle Italia
- ISM Seat
- Specialized Bicycle ComponentsInc.
- Selle Royal
- Giant Manufacturing Co. Ltd.
- Trek Bicycle Corporation
- ShimanoInc.
- WTB
- SCOTT Sports SA.
- among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Product Type:
- Plastic
- Leather
- Others
By Price Range:
- Hybrid Bike
- Mountain Bike
- Road Bike
- Other
By Sales Channel:
- Direct Sales
- Departmental Store
- Online Stores
- Other Sales Channel
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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