Singapore Bicycle Parts and Accessories Market (2024-2030) | Growth, Revenue, Value, Industry, Trends, Companies, Size, Forecast, Share, Analysis & Outlook

Singapore Bicycle Parts and Accessories Market Synopsis

Singapore is one of the leading bicycle parts and accessories markets in Asia Pacific. The market has been experiencing a healthy growth rate over the past few years due to increasing demand for bicycles as an alternative mode of transportation, growing popularity of cycling as a leisure activity, and rising health awareness among consumers. In addition, government initiatives such as tax breaks on bike purchases are also contributing towards the growth of this market in Singapore

Market Drivers

The main drivers for the bicycle parts and accessories market in Singapore include increasing demand for bicycles as an alternative mode of transportation, growing popularity of cycling as a leisure activity, rising health awareness among consumers, increasing number of bike sharing services being offered by startups like oBike & Ofo Bike in different cities across Singapore , and government initiatives such as tax breaks on bike purchases are contributing towards the growth of this market.

Market challenges

The key challenges faced by companies operating in this industry include high cost associated with purchasing bikes or components/accessories required to customize them; limited availabilityof spare parts and repair shops; competition from low-cost vendors offering similar products at competitive prices; and lackof public infrastructure support for cyclists.

Key players

Major players operating intheSingaporebicyclepartsandaccessoriesmarketinclude Shimano Inc., SRAM LLC., Accell Group N.V., Giant Manufacturing Co Ltd., Trek Bicycle Corporation , Sugino Corp., Raleigh Cycles LimitedandKMC Chain Company Ltd

Covid-19 Impact

Due to Covid-19 pandemic there is reduction in sales volumes from retail outlets whichhas resultedin negative impact onthe overall revenue generatedby playersoperating in theSingapore bicycle parts and accessorie smarketduring 2020 as compared to 2019 figures. However that said, ecommerce platforms have seen an increase incustomer base during 2020 due to shiftin preference towardsonlinepurchases owin gto social distancing restrictions imposed duringthe lockdown period

Key Highlights of the Report:

• Singapore Bicycle Parts and Accessories Market Outlook
• Market Size of Singapore Bicycle Parts and Accessories Market, 2023
• Forecast of Singapore Bicycle Parts and Accessories Market, 2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Revenues & Volume for the Period 2020-2030
• Singapore Bicycle Parts and Accessories Market Trend Evolution
• Singapore Bicycle Parts and Accessories Market Drivers and Challenges
• Singapore Bicycle Parts and Accessories Price Trends
• Singapore Bicycle Parts and Accessories Porter's Five Forces
• Singapore Bicycle Parts and Accessories Industry Life Cycle
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Types for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Transmission Parts for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Frame & Forks Parts for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Wheel Parts for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Steering Components for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Mountain Bicycles for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Road Bicycles for the Period 2020-2030
• Historical Data and Forecast of Singapore Bicycle Parts and Accessories Market Revenues & Volume By Others for the Period 2020-2030
• Singapore Bicycle Parts and Accessories Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Applications
• Singapore Bicycle Parts and Accessories Top Companies Market Share
• Singapore Bicycle Parts and Accessories Competitive Benchmarking By Technical and Operational Parameters
• Singapore Bicycle Parts and Accessories Company Profiles
• Singapore Bicycle Parts and Accessories Key Strategic Recommendations