Indoor Bike Racks Market Growth Analysis | 2021-2026

Market Insights

The indoor bike racks market was estimated at USD 96.2 million in 2020 and is likely to grow at a CAGR of 5.2% during 2021-2026 to reach USD 129.8 million in 2026.

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Market Dynamics

Introduction

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.

COVID-19 Impact

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.

Market Drivers

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.

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Key Players

Key players operating in the global 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),
• Hornit (UK).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Application Type

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 Insights

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.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects indoor bike racks market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The indoor bike racks market is segmented into the following categories:

By Product Type

• Floor Mounted Indoor Bike Racks
• Wall Mounted Bike Racks
• Ceiling Mounted Bike Racks

By Application Type

• Home
• Commercial

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].