Bicycle bearings have a notable replacement rate. Moreover, the bicycle fleet is expanding at a pace. Driven by these factors, the global sales of bicycle bearings will be prominent via aftermarket, and would reach a value in excess of US$ 8 Bn in 2027, expanding at a robust CAGR during the forecast period of 2017-2027.
Traffic congestion will remain a major concern for commuters, increasing demand for bicycles, and in turn, bicycle bearings. The adoption of bicycles aids in the preservation of natural resources that power various modes of transport. Additionally, one does not need to hold a license to ride a bicycle, which makes these vehicles a cheap, healthy, and viable option for anyone.
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Connected car and electrification are the running trends in the automotive vertical. Electric vehicles are the talk of the emerging markets as well. Also, revolution on the part of after-sales is expected. This comes in light of call for certainty. Also, there would be a paradigm shift to computing power (from horsepower). In other words, automakers are needed to re-invent themselves in the form of digital company.
Automotive digital retail would be another form of organized automotive market. Contract durations would also be flexible. Easier vehicle swapping would be turning the tide in the favour of consumers. Persistence Market Research is looking through every facet of the automotives vertical through its dedicated team of analysts and consultants.
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Key Takeaways
The bicycle bearings aftermarket holds significant market share in the global bicycle bearings market, and is showing drastic growth with the expanding sales of electric and hybrid bicycles.
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Competition Overview
The bicycle bearings market has become increasingly sophisticated as manufacturers are looking to lower cost and increase margins through the use of more stylish, lightweight & extra lightweight bicycle bearings. Key players involved in the bicycle bearings market are Schaeffler Technologies AG & Co. KG, Boca Bearing Inc., Endura Bearings, Jiangsu Wanda Special Bearing Co., Ltd., SKF AB, National Engineering Industries Limited, SMB Bearing, Fuda Bearing Corporation Co., Ltd., Kogel Bearing, and Yuyao Bote Bearing Co., Ltd., among others.
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