It is predicted that rising fitness consciousness among consumers will be the main factor driving the bicycle bearings industry. Today, a sizable portion of the world’s population incorporates cycling into their regular workout practise. According to studies, cycling can burn between 400 and 1000 calories each hour, depending on the weight of the cyclist.
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According to the World Health Organization, in 2014, over half the adult population in 114 nations including Europe, the Middle East, and the Americas was obese. Many countries in Europe and Americas have accepted bicycle riding as an effective way of burning fat and maintaining normal body mass, subsequently increasing demand for bicycle bearings.
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Even though doctors advise general public around the world to use bicycles for living a healthy life, irrespective of obesity; the bicycle market is expected to be more driven by the regions and countries where obesity is a concerning issue. The increasing adoption of bicycles is projected to drive growth for the market of bicycle bearings.
Green Transportation and Growing Number of E-bikes Boost Bicycle Bearings Demand
Rising concerns about air pollution and energy & oil prices are attracting population towards the use of pollutant-free transportation options. According to a report released by the WHO, air pollution contributed to the death of around 3.7 million people under 60 years of age in 2012. Trucks and passenger vehicles increase air pollution as they produce significant amount of carbon monoxide, nitrogen oxides, and other pollutants.
Fuel-driven vehicles emit over half of nitrogen oxides and carbon monoxides, and nearly a quarter of the hydrocarbons into the air. Hence, people are moving towards acceptance of green transportation and increasing use of bicycle, which is estimated to drive bicycle bearings demand in the global market.
Moreover, the use of electric bicycles as an eco-friendly mode of transportation is increasing each year. For instance, about 112,000 electric cars and 40 million e-bicycles were sold globally in 2013.
In China, there are more electric bicycles than cars running on the road. Middle and low-income consumers are driving the sales of e-bikes in the Asia Pacific region as these are cheaper. This factor will create significant growth opportunities the electric bicycle market, and increase the demand for bicycle bearings over the forecast period.
Bicycle Bearings Market Competition Analysis
Manufacturers involved in the bicycle bearings market are keen on adopting a multi-brand strategy to promote the sales of bicycle bearings. Moreover, they are also focused on increasing product offerings, geographic reach, and manufacturing capabilities.
Major players in the bicycle bearings market include 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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Key Segments of Bicycle Bearings Market
PMR’s study on the bicycle bearings market is divided into five significant segments- product type, bicycle type, application, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
| Bearing |
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| Bicycle |
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| Application |
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| Sales Channel |
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| Region |
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