Indoor Bike Racks Market Report
Global Indoor Bike Racks Market, Dynamics, Market Analysis See less
Global Indoor Bike Racks Market, Dynamics, Market Analysis
The report on the global Indoor Bike Racks Market is segmented by Product (Floor Mounted Indoor Bike Racks, Wall Mounted Bike Racks, Ceiling Mounted Bike Racks), By Application (Home, Commercial), and Region.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global indoor bike racks market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
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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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 operating in the global indoor bike racks market are-
Growing concern regarding air pollution and global warming is creating a shift towards cycles as they don’t emit emissions.
Based on application, the global indoor bike racks have been bifurcated into home and commercial.
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.
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.
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Here is the list of the group of customers that the Indoor Bike Racks market hopes to have the greatest opportunity to convert-
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The indoor bike racks market is expected to witness an impressive growth of 5.2% CAGR in the foreseeable future.
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) are among the key players in the indoor bike racks market.
The indoor bike racks market size is expected to reach USD 130.5 million in the coming years.
Europe dominated the indoor bike racks market in 2020 with around 40% share and is projected to register a substantial CAGR.
The commercial segment witnessed largest share of indoor bike racks market in 2020.
Increasing focus on fitness as well as saving money on fuel, growing concern regarding air pollution and global warming are the factors driving the growth of indoor bike racks market.
Indoor bike rack companies, Indoor bike rack retailers, Bike retailers, Housing societies, Commercial complexes are the target audience in the indoor bike racks market.