Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Bottles Cages Market
Bottles cages are referred to the cages which are used by cyclist to hold the water bottle, energy drink bottle and others within the bicycle. These bottles cages can be equipped on the rear and on the main frame of the bicycle. Rising trend of cycling bicycle on the mountains further propelled the demand for water drinking during cycling which in turn augment the demand for bottles cages to hold the bottle.
Market Size and Forecast
The global bottles cages market is expected to grow at a robust CAGR of 6.4% over the forecast period i.e. 2017-2024. Further, the market of bottles cages is driven by the changing lifestyle of the consumer coupled with increasing popularity of mountain biking as a sport.
The bottles cages market is segmented into material, cage type, distribution channel and region. Further, the material segment is sub-segmented into carbon, fibre-reinforced material (FRP) and metal, out of which carbon bottles cages segment is projected to grab lion share in the overall market of bottles cages. In addition to this, the growth of carbon bottles cages segment is attributed to the light weight design along with high strength. Apart from this, fibre-reinforced material (FRP) segment is expected to seize an outstanding CAGR by the end of 2024. Furthermore, frame cages segment by cage type captured the largest stake in the market of global bottles cages and is envisioned to grow significantly during the forecast period. Moreover, wide product availability of frame cages is also impelling the global market of frame cages to grow at significant rate.
North America and Europe region are the notable markets for bottles cages market in 2016. North America is slated to grow rapidly over the forecast period owing to presence of urban population. Further, wide product availability in this region is also helping the bottles cages market to garb noteworthy revenue. Further, U.S. is the dominating country in the market of bottles cages market in this region. Moreover, according to OECD, more than 35% of the population falls into obese category along with rising consumer preference for cycling as fitness sport is supplementing the growth of bottles cages market in North America. Further, rising number of health awareness programs have encouraged the population to involve in sports activities such as cycling which in turn expected to boost the demand for bottles cages. This factor is projected to foster the growth of bottles cages market.
Europe bottles cages market is accumulating noteworthy sales due to rising number of sales of sports bicycle. Further, Western Europe countries such as U.K. Germany, France and others are the major revenue collecting countries of frame cages market. Furthermore, presence of numerous vendors of bottles cages such as Giant UK and others in this region is anticipated to trigger the growth of bottles cages market.
In Asia-Pacific, bottles cages market is projected to showcase outstanding growth over the forecast period with the presence of largest bicycle industry. Additionally, China is the dominating country in this region. Moreover, China accounted for the largest country to manufacture bicycle and it is also the biggest exporter. Further, increasing adoption of bottles cages by the cyclist to drink water or energy drink during cycling is also expected to boost the growth of bottles cages market.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the bottles cages market in the following segments:
By Material
By Cage Type
By Distribution Channel
By Region
Global bottles cages market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Introduction of advanced bottles cages such as carbon fiber built bottle cages which are extremely light in weight and high in tensile strength is projected to foster the growth of bottles cages market over the forecast period. Moreover, robust expansion of sports cycle industry along with growing preference of cycling sport among the consumer is believed to be the dynamic factor behind the rapid growth of bottles cages market. Furthermore, increasing popularity of mountain biking as a sport is also up surging the demand for bottles cages. This factor is envisioned to foster the growth of bottles cages market over the forecast period.
Moreover, swelled disposable income of the consumers have backed them to adopt advanced sport cycles for cycling along with increasing cycling activities to reduce overall weight of the body is also predicted to propel the market of bottles cages across the globe. Additionally, rising manufacturing of bicycles of all ranges such as mountain bicycle, cyclo-cross bicycle and others is also impacting the market of bottles cages to grow rapidly. For instance, according to Confederation of the European Bicycle Industries (CONEBI), in Europe, the sales of bicycles was held 19,606 in 2016 as compared to 18,945 thousand units in 2000. Further, rising sale of bicycle is expected to foster the growth of bottles cages market.
Rapid urbanization is one of the key factors fuelling the market of bottles cages. In addition to this, population in urban region are more inclined towards fitness and wellness coupled with changing lifestyle of the consumers have encouraged them to adopt advanced cycles which in turn augment the demand for bottles cages. This factor is envisioned to foster the growth of bottles cages market all across the globe.
However, high cost associated with fibre-reinforced material (FRP) bottles cages is anticipated to dampen the growth of bottles cages market globally.
Key players
The major key players for bottles cages are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global bottles cages market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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