Bicycle Bags Market size to grow by USD 31.65 mn | Arkel and ASG International SRL Among Key Vendors | Technavio
NEW YORK, Dec. 1, 2021
NEW YORK, Dec. 1, 2021 /PRNewswire/ -- North America will dominate the bicycle bags market during the forecast period. The market size is expected to increase by USD 31.65 mn from 2021 to 2026, accelerating at a CAGR of 4.07%.
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Factors such as growing disposable incomes and government initiatives to promote cycling will be crucial in driving the growth of the bicycle bags market. However, the presence of counterfeit products and stringent government regulations for procuring raw materials such as leather will restrict the market growth.
The bicycle bags market report includes information on the product launches, sustainability, and prospects of leading vendors. Some of these vendors include Arkel, ASG International SRL, Axiom Cycling Gear, Basil BV, ORTLIEB Sportartikel GmbH, Thule Group AB, TOPEAK Inc., Trek Bicycle Corp., VAUDE Sport GmbH and Co. KG, and Vista Outdoor Inc.
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The competitive scenario provided in the bicycle bags market report examines, assesses, and positions companies based on various performance indicators. A few of the factors considered for this analysis include the financial performance of companies over the last few years, product innovations, growth strategies, new product launches, investments, growth in market share, etc.
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- Based on distribution channel, the market is classified into offline and online. The offline segment will contribute the largest share of the market.
- Based on geography, the market is classified into North America, Europe, APAC, South America, and MEA. North America is expected to have the largest share of the market.
Technavio's market forecast report includes detailed information on the competitive intelligence, marketing gaps, and regional opportunities for vendors to assist organizations in creating efficient business plans. According to our analysis, 42% of the market's growth is expected to originate from North America during the forecast period. The US and Canada are the key countries for the bicycle bags market in the region. Factors such as growth of the online sales channel and the availability of import options in North America will drive the bicycle bags market growth in the region.
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Bicycle Bags Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.07%
Market growth 2022-2026
USD 31.65 million
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 42%
Key consumer countries
US, Germany, UK, France, and Canada
Leading companies, competitive strategies, consumer engagement scope
Arkel, ASG International SRL, Axiom Cycling Gear, Basil BV, ORTLIEB Sportartikel GmbH, Thule Group AB, TOPEAK Inc., Trek Bicycle Corp., VAUDE Sport GmbH and Co. KG, and Vista Outdoor Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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