Bangladesh Bicycle Accessories Market (2022-2028) | Share, Outlook, Forecast, Revenue, Growth, Industry, Size, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Product (Helmets, Gloves & Warmers, Jerseys/Tees, LED Lights, Mirrors, Bottle Cages, Pumps (Hand & Foot), Bar Ends/Grips), By Bicycle Type (Mountain Bikes, Hybrid/Cross, Road, Comfort, Youth, Cruisers, Electric, Others), By Type (OEM, Aftermarket), By Sales Channel (Online, Offline) And Competitive Landscape

Product Code: ETC431848 Publication Date: Nov 2022 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

Bangladesh Bicycle Accessories Market Synopsis

Bangladesh Bicycle Accessories Market is estimated to grow at tremendous rate in the upcoming years. The market is mainly driven by the increasing number of people opting for bicycles as an efficient mode of transportation, growing awareness about health benefits associated with cycling, and increasing demand for transportation. Additionally, the government's initiative to make cycling more accessible has also bolstered the interest in this mode of transportation. Moreover, the growing middle-class population is another key driver that is fueling the market growth.

However, the lack of awareness about cycling among citizens, which limits the Bangladesh Bicycle Accessories Market size. Moreover, high cost associated with importing bicycles and accessories from abroad is another obstacle to the market growth.

According to 6Wresearch, Bangladesh Bicycle Accessories Market is expected to grow during 2022-2028. The Asia Pacific Bicycle Accessories Market is anticipated to grow in the forthcoming years. This growth is mainly driven by the emerging cycling population and increasing awareness about bicycle safety and usage. In general, the cycling population is growing rapidly due to increasing awareness about health benefits that can be derived from cycling and it is one of the cost-efficient modes of transportation. Additionally, there is increased government investment in cycling infrastructure, which is driving the demand for bicycles. Moreover, the rising middle class in rural areas is also contributing to the Bangladesh Bicycle Accessories Market growth. The government's initiatives towards promoting cycling as an alternate mode of transportation are also expected to propel the growth of the market in the upcoming years.

However, there are several challenges faced by the industry such as lack of awareness about cycling among citizens, which limits its potential market size. Moreover, high cost associated with importing bicycles and accessories from other countries hinders the market expansion. Despite these challenges, there are opportunities for exporters owing to the growing awareness about cycling and health benefits paired with it.

Impact of COVID-19 on Bangladesh Bicycle Accessories Market

Amid the COVID-19 crisis, the Bicycle Accessories Industry in Bangladesh has encountered various challenges and hinderance in its growth on the account of disrupted supply chains and temporary closure of manufacturing units. Additionally, the demand for cycles has decreased owing the imposition of lockdown and restrictions. During the pandemic, the individuals were not allowed to go outside of their homes which in turn reduced the demand and supply of bicycle accessories.

Competitive Landscape

Bangladesh is a developing country with a huge population. It is situated in the eastern part of South Asia. The country's economy is heavily reliant on the agricultural sector. The Bangladesh Bicycle Accessories Market is small but growing rapidly. The major contributors to this market are exports from India, domestic demand, and investment by foreign companies.

The main types of bicycle accessories sold in Bangladesh include lights, baskets, racks, and handlebar tapes. The demand for these products is increasing due to rising disposable incomes and increased interest in cycling among the population. Currently, there are only a few manufacturers producing these items in Bangladesh, however, the market is expected to expand in the coming years.

Market analysis based on Products

By Products, the market is bifurcated into Helmets, Gloves & Warmers, Jerseys/Tees, LED Lights, Mirrors, Bottle Cages, Pumps (Hand & Foot), and Bar Ends/Grips). All these accessories hold a significant value in the market owing to the safety measures coupled with them while driving bicycles.

Market analysis based on Bicycle Type

By Bicycle Type, the market is segmented into Mountain Bikes, Hybrid/Cross, Road, Comfort, Youth, Cruisers, Electric, and Others. Among these, the road bikes are expected to held the largest Bangladesh Bicycle Accessories Market share during the forecast period.

Market analysis based on Sales Channel

By Sales Channel, the market is segmented into Online and Offline. The offline distribution channel is witnessing growth and accounted for the largest revenue generator owing to the large number of consumers in the traditional market and test-drive options. Whereas the online channel is expected to grow in the emerging market mainly due to the increasing penetration of smart phones and Internet.

Key attractiveness of the report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2018 to 2021.
  • Base Year: 2021.
  • Forecast Data until 2028.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Bangladesh Bicycle Accessories Market Outlook
  • Market Size of Bangladesh Bicycle Accessories Market, 2021
  • Forecast of Bangladesh Bicycle Accessories Market, 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Revenues & Volume for the Period 2018 - 2028
  • Bangladesh Bicycle Accessories Market Trend Evolution
  • Bangladesh Bicycle Accessories Market Drivers and Challenges
  • Bangladesh Bicycle Accessories Price Trends
  • Bangladesh Bicycle Accessories Porter's Five Forces
  • Bangladesh Bicycle Accessories Industry Life Cycle
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Product for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Helmets for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Gloves & Warmers for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Jerseys/Tees for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By LED Lights for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Mirrors for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Bottle Cages for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Pumps (Hand & Foot) for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Helmets Bicycle Accessories Market Revenues & Volume By Bar Ends/Grips for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Bicycle Type for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Mountain Bikes for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Hybrid/Cross for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Road for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Comfort for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Youth for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Cruisers for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Electric for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Others for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Type for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By OEM for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Aftermarket for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Sales Channel for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Online for the Period 2018 - 2028
  • Historical Data and Forecast of Bangladesh Bicycle Accessories Market Revenues & Volume By Offline for the Period 2018 - 2028
  • Bangladesh Bicycle Accessories Import Export Trade Statistics
  • Market Opportunity Assessment By Product
  • Market Opportunity Assessment By Bicycle Type
  • Market Opportunity Assessment By Type
  • Market Opportunity Assessment By Sales Channel
  • Bangladesh Bicycle Accessories Top Companies Market Share
  • Bangladesh Bicycle Accessories Competitive Benchmarking By Technical and Operational Parameters
  • Bangladesh Bicycle Accessories Company Profiles
  • Bangladesh Bicycle Accessories Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

  • Helmets
  • Gloves & Warmers
  • Jerseys/Tees
  • LED Lights
  • Mirrors
  • Bottle Cages
  • Pumps (Hand & Foot)
  • Bar Ends/Grips

By Bicycle Type

  • Mountain Bikes
  • Hybrid/Cross
  • Road
  • Comfort
  • Youth
  • Cruisers
  • Electric
  • Others

By Type

  • OEM
  • Aftermarket
  • By Sales Channel
  • Online
  • Offline
Bangladesh Bicycle Accessories Market: FAQs
The study period of this report is 2022-2028.
Lack of awareness about cycling among citizens and high cost associated with importing bicycles is another impediment to its growth.
The increasing demand from consumers in urban areas who prefers to buy quality products at affordable prices and increasing trend among businesses and institutions to promote cycling as an efficient means of transportation are the reasons for Bangladesh Bicycle Accessories Market growth.
The offline sales channel is growing owing to the test-drive options.
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