Indoor Bike Racks Market Report

Market Insights

The Global Indoor Bike Racks Market is expected to grow from USD 96.2 million in 2020 to USD 130.5 million by 2026 at a CAGR of over 5.2% during the forecast period.

Figure: Global Indoor Bike Racks Market Size, 2020-2026 (USD Million)

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What are Indoor Bike Racks?

A bike rack is used to hold a bicycle, also referred to as a bicycle stand or bicycle carrier. A bicycle carrier is attached to a vehicle such as a bus, truck, or car and the bicycle is mounted on it. It is used for the transportation of bicycles can be mounted in the rear, front, and on top of the vehicle. Whereas, a bicycle stand is a device to which bicycles are attached securely for parking. Bike racks can be attached to some stationary, free-standing, or bolted to the ground. An indoor bike rack is used for private bicycle parking.

Key Players

Key players operating in the global indoor bike racks market are-

• Racor (The U.S),
• Saris (The U.S),
• Park Tool Co. (The U.S),
• Steadyrack (Australia),
• Delta Cycle (The U.S),
• Topeak (The U.S),
• Feedback Sports (The U.S),
• Cycloc (UK),
• Vadolibero s.r.l. (Italy),
• and Hornit (UK).

Market Dynamics

Growing concern regarding air pollution and global warming is creating a shift towards cycles as they don’t emit emissions.

• Also, increasing focus on fitness as well as saving money on fuel further drives the demand for bicycles.
• The use and installation of indoor bike racks directly depend on the number of people riding bicycles.
• Moreover, bike racks demand and sales depend on the sales of bicycles.
• Riding a bicycle and its advantages are gaining popularity in social media as well as promotional events are highlighting the usage of bicycles, further offering lucrative opportunities to the market players.

Segment Analysis

Application Trends

Based on application, the global indoor bike racks have been bifurcated into home and commercial.

• The commercial segment witnessed the largest market share in 2020 and is projected to grow at a healthy CAGR during the review period.
• This is mainly because of companies and residential societies have gradually begin to install bicycle sharing platforms which spurs the demand for bicycles and indoor bike racks.

Regional Trends

By region, Europe dominated the indoor bike racks market in 2020 with around 40% share and is projected to register a substantial CAGR during the review period.

• It is followed by North America with around 35% of the global market share in 2020.
• Increasing global warming awareness to shift to non-polluting bicycles as a mode of transport for short distances is a key regional driver for the bicycles, thus propels the product demand.

COVID-19 Impact on Global Indoor Bike Racks Market

The coronavirus pandemic has created a fear among the people regarding health and fitness and to improve the immunity to combat the COVID-19 virus. Cycle shops are the least affected type of business during this period. Moreover, there are more people riding bicycles riding now when compared to pre-COVID times, thus driving the demand for indoor bike racks in homes. Although, the indoor bike racks in commercial places such as malls and offices suffered due to work from home policies.

Critical Questions Answered in the Report

• What are the key trends in the global indoor bike racks market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global indoor bike racks market?
• What are the key strategies adopted by the major vendors to lead in the global indoor bike racks market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Indoor Bike Racks market hopes to have the greatest opportunity to convert-

• Indoor bike rack companies
• Indoor bike rack retailers
• Bike retailers
• Housing societies
• Commercial complexes

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