(MENAFN- Ameliorate Digital Consultancy) According to a recent analysis from Persistence Market Research, the bicycle bearings market would grow at a 6.7% CAGR from 2023 to 2033. A number of macroeconomic and demographic factors, including population, the demographic dividend, urbanisation, etc., have a considerable impact on the demand for bicycle bearings.
Bicycle bearings are an integral component of bicycles, as they allow for smoother pedaling and greater efficiency. The bicycle bearing market is burgeoning, driven by the increasing demand for mobile transportation, the trend towards cycling both as a leisure activity and as a mode of commuting, and the rising uptake of electric bicycles. Additionally, technological advancements in the bicycle bearings sector coupled with innovative product offerings from leading players are propelling the market growth further. Manufacturers are increasingly investing in research & development activities to create efficient and reliable products that can effectively withstand wear and tear. This will open up new opportunities in this market.
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Key Takeaways
North America and Europe bicycle bearings market expected to show significant growth owing to the increasing use of bicycles in the regions. Corporate sectors in North America and Europe are promoting usage of bicycles and electric vehicles as modes of transportation inside campuses to improve air quality and decrease pollution index. Growth in demand for mountain and sport bicycles due to increase in number of terrain cycling events is expected to boost revenue growth of the global bicycle bearings market. Increasing use of bicycles, regular maintenance activities, and average operational life directly impact the growth of the bicycle bearings market. Bicycle ball bearings category is estimated to dominate the market over the forecast period as these bearings have applications in wheel hubs, bottom brackets, and chain sprockets.
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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.
Bicycle Bearings Market Segmentation
By Bearing Type:
Ball Bearing Plain Bearing Roller Bearing
By Bicycle Type:
Mountain Bike Bearings Hybrid Bike Bearings Electric Bicycle Bearings Comfort Bicycle Bearings Cruiser Bicycle Bearings Youth Bicycle Bearings Road Bicycle Bearings
By Sales Channel:
By Application Type:
Wheel Hubs Bearings Frame Pivot Bearings Pedals Bearings Steering Columns Bearings Bottom Bracket Bearings Gear Shifters Bearings Chain Pocket Bearings Suspension Bearings
By Region:
North America Latin America Europe East Asia South Asia and Pacific Middle East and Africa
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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