Bottles Cages Market By Material (Carbon, Fiber-Reinforced Material (FRP) and Metal); By Cage Type ( Aerobar Cages, Frame Cages, Rear Cages and Others); By Distribution Channel (Online Store, Offline Store) - Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
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.
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 SAMPLE REPORT
Our in-depth analysis segmented the bottles cages market in the following segments:
Global bottles cages market is further classified on the basis of region as follows:
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.
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