Global Bicycle Parking Racks Market to Create an Incremental Opportunity of US$ 4 Billion by 2028

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A new research study envisages US$ 4 billion opportunity to emerge in the bicycle parking rack market by 2028, with urban centers and Tier II cities at forefront of new installations/construction. The growth is largely on account of a resurgence in bicycling on account of growing awareness on environmental conservation and health & wellness. The Fact.MR study opines that ‘mainstreaming’ of bicycling as a means of commute has the potential to create sizeable opportunities for stakeholders.

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The bicycle parking racks market is influenced by a combination of macroeconomic and microeconomic factors impacting growth. Awareness initiatives at grassroots levels, such as drives across universities and colleges, along with growing focus on positioning bicycling as a recreational activity continue to influence the dynamics in the market.

Introduction of bike servicing joints nearby a bicycle parking rack is an emerging trend in the bicycle parking rack market facilitating instant servicing at the nearest parking rack. Bicycle racks provide additional parking spaces which can be leveraged by customers to patronize local businesses, which is a substantial factor fortifying growth of bicycle parking rack market.

Chapter 1- Executive Summary

This section starts with a quick and brisk summary of bicycle parking rack market coupled with a megatrends in bicycle parking rack market responsible for influencing the industry growth. The market white spaces of bicycle parking rack market briefs on an opportunity assessment indicating prime opportunities in bicycle parking rack market for manufacturers to exploit.

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Chapter 2– Overview

This chapter, titled as overview of bicycle parking rack market, imparts a holistic introduction of bicycle parking rack market along with a formal definition of the product “bicycle parking rack”. Also, the scope of the report on bicycle parking rack market has been included in this chapter, which aids the readers to gauge the scope of bicycle parking rack market in a systematic manner.

Chapter 3- Bicycle Industry Outlook

This chapter focuses on the potential of bicycle market, which forms a foundation for framing anticipations for bicycle parking rack market. The prosperity of bicycle market is a directly proportional to growth of bicycle parking rack market. It also includes information about the bicycle fleet of every region, which is a preeminent factor responsible for determining growth of bicycle parking rack market in the respective region.

Chapter 4– Key Indicator Assessment

This chapter gives a sneak peak at the dynamics of bicycle parking rack market. The dynamics of bicycle parking rack market revolves around factors such as drivers, restraints, trends, and opportunities which are crucial for determining growth ambit of bicycle parking rack market. The investment feasibility matrix of bicycle parking rack market gives a clear understanding of areas which are remunerative enough for vendors to invest.

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Chapter 5- Price Point Analysis

This chapter embodies a price point analysis of bicycle parking rack market. The price point analysis of bicycle parking rack market has been done both ways, by region as well as by product type.

A new practice prevailing in the bicycle parking rack market is manufacturing new bicycle parking racks using old bicycles. This rage is grabbing headlines by virtue of being in line with the concept of sustainability and recycling for waste management. The vendors operating in the bicycle parking rack market are looking forward to leverage on recycling, which is just not a trend anymore but has evolved being a pragmatic business practice. The idea of refurbishing old bicycles and converting them to parking racks is helping manufacturers to fuel business ramification. This practice also adds to the CSR value of company and also makes it eligible for governmental recognition and subsidies in the long run.

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