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Market Overview of Global Bicycle Lock market:
According to our latest research, the global Bicycle Lock market looks promising in the next 5 years. As of 2022, the global Bicycle Lock market was estimated at USD 483.98 million, and it's anticipated to reach USD 656.11 million in 2028, with a CAGR of 5.2% during the forecast years.
A bicycle lock is a security device used to deter bicycle theft, either by simply locking one of the wheels or by fastening the bicycle to a fixed object, e.g., a bike rack.
Influence of COVID-19 Outbreak on Bicycle Lock Industry Development
The economy of the European Union is expected to shrink by 7.4 percent in 2020, following the outbreak of Coronavirus (COVID-19) in early 2020, with an economic recovery anticipated in 2021. Spain and the United Kingdom are set to be the worst affected economies, seeing GDP decline by 12.4 percent and 10.3 percent respectively, with Lithuania's GDP forecast to shrink by 2.2 percent and suffer the least damage.
The impact of the epidemic on the Bicycle Lock industry will involve all major links and all entities in the industry chain. In order to avoid large-scale population movements and gatherings, various countries have adopted prevention and control measures such as home isolation and extension of the holiday. More and more cities are entering the first-level response state, strictly isolating measures, strictly prohibiting vehicle entry and exit, strictly controlling the flow of personnel, and strictly preventing the spread of the epidemic. This makes it impossible for non-local employees to return or arrive immediately, the number of employees is insufficient, and normal commuting is also severely frustrated, resulting in a large-scale shutdown of production. The road closure and country closure measures adopted by various regions have hindered the transportation of raw materials as well as Bicycle Lock products. From the consumption perspective, people have nowhere to go since they are isolated at home, the demand for bicycle lock is negatively affected.
Drivers of Bicycle Lock
The bicycle theft is quite usual in Europe, the number of which has doubled since 90s.
According to a study conducted by The National Institute of Statistics and Economic Studies (INSEE), 354,000 households have suffered from bicycle theft in France in 2016. It represents 2,3% of bike-owning households around the country. This number has been constantly increasing since 2012. The study also shows that only 7% of the victims are recovering their stolen bikes. In the United Kingdom, according to the report "Crime in England and Wales" published by the Office of National statistics, 96,510 bicycles have been stolen from November 2017 to September 2018. In Italy this number seems to be even bigger with 320,000 bikes stolen in 2013, according to the Italian Cyclist Association FIAB-ONLUS.
In Germany, the United Kingdom, and Italy these numbers only include theft reports processed by the police. Just like in France only a small percentage of theft are declared to the authorities.
In Spain, the study "Barometro de la Bicicleta en Espana 2017" indicates that 10,3% of respondents have declared to have been a victim of one bike theft and 5,7% more than one, in the last 5 years.
This makes more than 800,000 bikes stolen per year. Across these 5 largest European countries bike theft can be estimated between 2.5 million and 3 million per year.
So many bicycle thefts have made bicycle locks very necessary. And bicycle lock boasting lightweight and specialty designs, is a great security for bicycles due to advantages such as effectiveness, anti-theft, flexibility, and user friendly. Therefore, rising awareness pertaining to the security of bicycle is expected to remain one of the primary drivers upholding the growth of the bicycle locks market.
Limitations of Bicycle Lock
The bicycle lock industry has seen rapid technological innovation, and rapid updating of related products. If the company cannot correctly grasp the market dynamics and industry development trends, it cannot further consolidate its dominant position and ensure its core in product research and development, market expansion, etc. There are market competition risks such as decline in business performance and decline in market share due to weakened competitive advantages. Moreover, there are an increasing number of competitors entering the market, which means the technology and professional knowledge of this industry are no longer unavailable. If the players still provide roughly the same products or services, or at least few obvious differences; Or if the players continue to compete on price in bicycle lock products, avoiding enhancing products with features and technological content that could increase costs, it will be hard for them to sustain the fierce market.
Region Overview:
Germany had the highest growth rate of all regions.
Company Overview:
ABUS is one of the major players operating in the Bicycle Lock market, holding a share of 11.56% in 2020.
ABUS is one of the premier consumer security and safety products manufacturers in the world. Celebrating over 90 years of German engineering and manufacturing, ABUS sets the standard for quality and innovation.
Over 40 years ago, Kryptonite began with a mission. While much has changed in bicycling, and bicycle security, its objective remains the same, it is here to empower customers to protect what they value.
Segmentation Overview:
Among different product types, U-Lock segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Offline segment occupied the biggest share from 2017 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Bicycle Lock market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Bicycle Lock Market Report:
Market Size Estimates: Bicycle Lock market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Bicycle Lock market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Bicycle Lock market
Segment Market Analysis: Bicycle Lock market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Bicycle Lock market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Bicycle Lock Market: Revenue and sales volume of major countries in each region
Bicycle Lock Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Bicycle Lock market in major regions.
Bicycle Lock Industry Value Chain: Bicycle Lock market raw materials & suppliers, manufacturing process, distributors, downstream customers
Bicycle Lock Industry News, Policies & Regulations
Key players in the global Bicycle Lock market are covered in Chapter 12:
Hiplok
Tonyon
ABUS
AXA
Master Lock
OnGuard
Kryptonite
Giant
In Chapter 2 and Chapter 15.1, based on types, the Bicycle Lock market from 2018 to 2028 is primarily split into:
U-Lock
Cable Lock
Chain Lock
Alarm
Foldable Lock
Frame Lock
Others
In Chapter 3 and Chapter 15.2, based on applications, the Bicycle Lock market from 2018 to 2028 covers:
Online
Offline
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Bicycle Lock market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028