The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
Bicycle Cassette Market: Introduction
Bicycle cassette is a mechanical component comprises of sprockets located on the rear hub of the bicycle. Most of the modern bicycles are equipped with bicycle cassette with five to twelve number of sprockets. Bicycle cassette provides a range of gearing options to attain a desired running speed of the bicycle. The consumption of the bicycle cassette directly depends on the production and existing fleet of the bicycle. The increasing concerns towards health & Safety as well as environmental sustainability are endorsing the usage of bicycle which significantly impacts the Bicycle cassette market. In global bicycle cassette market, Europe region is estimated to hold significant market share over the coming decade.
Bicycle Cassette Market: Drivers, Restraints and Opportunities
Rising inclination towards green transportation is estimated to propel the usage of human powered vehicles in several nations owing to rising environmental concern and higher fuel gas prices. Green transportation initiative is anticipated to boost the demand for bicycle and subsequently bicycle cassette. Present hectic human Lifestyle is leading towards the rising health issues obtaining due to lack of exercise. The rising health concerns and need for daily exercise are estimated to bolster the demand for bicycles and consecutively bicycle cassette in near future. In recent past, recreational activities have been witnessing significant traction owing to increasing tour and travel activities. This increasing recreational activities are estimated to bolster the demand for bicycle cassette market as bicycle is most preferred human powered transportation in recreational activities. This in turn is also expected to fuel the demand for sports and mountain bicycles and contribute to the growing market of bicycle cassettes.
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Global bicycle market has witnessed significant growth in the past few years, positively impacting the bicycle cassettes market. Changing focus towards green transportation and rising health concern are estimated to increase the sales which directly influence the fleet size of the bicycle. The increasing bicycle fleet is expected to boost bicycle cassette market in the coming future. The repair and maintenance activities are estimated to support the aftermarket sales of the Bicycle cassette. The existing fleet size and maintenance activities are resulted to significant Aftermarket share in the global bicycle cassette market. Many nations are promoting the use of bicycle owing to high traffic congestions and heavy pollutions caused by automobiles. The increasing promotional activities are estimated to boost the bicycle cassette market in coming years.
Bicycle Cassette Market: Segmentation
The global Bicycle Cassette market can be segmented on the basis of its Intended Use, Drivetrain Speed, Sales Channel, Gear Range, Materials and Region:
On the basis of Intended Use, global Bicycle Cassette market can be segmented as:
- Cross Country
- Mountain
- Road
- Sport
- E- Bike
On the basis of Drivetrain Speed, global Bicycle Cassette market can be segmented as:
- 7 Speed
- 8 Speed
- 9 Speed
- 10 Speed
- 11 Speed
- 12 Speed
On the basis of Gear Range, global Bicycle Cassette market can be segmented as:
- 9-46 to 9-50
- 10-24 to 10-51
- 11-23 to 11-50
- 12-23 to 12-36
- 14-25 to 14-28
- Others (33-46, etc.)
On the basis of Sales Channel, global Bicycle Cassette market can be segmented as:
- OEM
- Aftermarket
- Direct Sales
- Online Sales
On the basis of Materials, global Bicycle Cassette market can be segmented as:
- Aluminum
- Titanium
- Steel
- Others
Bicycle Cassette Market: Regional Outlook
In Global Bicycle Cassette market, Europe is estimated to account for a significant share owing to increasing bicycle fleet in the respective region. The Netherlands followed by Germany & Italy holds the prominent market share as these countries has maximum number of bicycle per capita. The increasing concern towards health and safety is increasing in North America region. This factor is estimated to boost the demand for bicycle cassette in near future. East Asia and South Asia is expected to witness maximum growth in bicycle cassette market owing to factors such as promoting the use of bicycle by governments and increasing preference towards smooth & comfortable riding. Latin America and Middle East & Africa Regions are estimated to register stagnant growth in bicycle cassette market.
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Bicycle Cassette Market: Key Participants
Some of the key participants identified in the global Bicycle Cassette market are:
- SHIMANO INC.
- SRAM LLC
- Praxis Cycles, LLC
- Box Components
- Sun Race Sturmey-Archer Inc.
- Shih Yeh Industry Co., Ltd.
- Shenzhen 365 Outdoor Gears Co., Ltd.
- CT Sports International Co., Ltd.
- Recon Co,Ltd
- The Hive Global
- Microshift - AD-II Engineering Inc.
- Hebei Hongchi Bicycles Co., Ltd.
- Ken Chang Ind. Co., Ltd.
- KENSTONE Metal Co., Ltd. Inc.
The Bicycle Cassette research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Bicycle Cassette research report provides analysis and information according to market segments such as geographies, application and industry.
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We leave no stone unturned to give clients an exhaustive coverage of the industry.Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our reports strive to offer superior quality reports based on authentic and accurate findings.
Customer Satisfaction
We aim to ensure that our client’s research needs are met with customized, top-of-the-line solutions.
Unmatched Expertise
Our analysts and consultants are among the best in their field and promise to deliver excellent market intelligence.
360-degree Analysis
We leave no stone unturned to give clients an exhaustive coverage of the industry.Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets.
Report Highlights:
- Shifting Industry dynamics
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- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
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