Singapore Bicycle Accessories Market Introduction and Overview
According to SPER Market Research, the Singapore Bicycle Accessories Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Singapore Bicycle Accessories market, including market size and trends, product mix, distribution channels, and supplier analysis. A bicycle is a manually operated vehicle with two wheels attached to a frame, one behind the other, and it can also be powered by pedaling or with a motor. It is widely recognized as an effective means to combat global pollution and is actively promoted by authorities as an eco-friendly mode of transportation. Additionally, the increasing problem of traffic congestion worldwide has led to a surge in the popularity of cycling as it offers a solution to avoid massive traffic jams and reach one's destination efficiently. Some of these accessories may not be provided by the original equipment manufacturers (OEMs) and may need to be added later. Furthermore, incorporating cycling into a healthy lifestyle can have a significant positive impact on the environment.
- January 2022: Singapore's Land Transport Authority (LTA) implemented new regulations for cyclists, aimed at improving technological controls and enhancing the overall cycling experience.
- Singapore is set to prohibit cyclists from riding in groups exceeding a length of five bicycles, based on recommendations from a road safety report. This new law, designed to enhance technological controls, has been passed with the aim of improving road safety.
Market Opportunities and Challenges
Opportunities:
- Current conditions offer growth prospects for bicycle manufacturers. Growing urbanization and traffic congestion are driving increased bicycle sales. As the demand for faster and more eco-friendly transportation options steadily rises, new opportunities will emerge for bicycle manufacturers. Meanwhile, the surge in pollution caused by gasoline-powered vehicle emissions has been acknowledged by green solution providers as an opportunity.
Challenges:
- One difficulty is the market's competitive environment due to the large number of accessory vendors. Pricing pressures and the requirement for businesses to differentiate their products may result from this. Additionally, for customers who are concerned with pricing, the price of high-quality bicycle accessories can occasionally be a barrier. Additionally, the adoption of certain accessories like larger racks may be hampered by the restricted space available for bicycle storage in metropolitan areas.
Market Competitive Landscape
The bicycle accessory market in Singapore has a competitive environment that is characterised by a mixture of local and foreign competitors who provide a wide range of products to meet the various needs of riders. The following are some crucial elements of the market environment: Bike Haus Intl, Hello, Bicycle! Showroom Bugis, Hup Leong Company, Jet Cycle Pte Ltd, Rodalink Singapore, Tay Junction, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Bicycle Type, By Sales Channel
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| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region
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| Companies Covered | Bike Haus Intl, Hello, Bicycle! Showroom Bugis, Hup Leong Company, Jet Cycle Pte Ltd, Rodalink Singapore, Tay Junction, Others
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COVID-19 Impact on Singapore Bicycle Accessories Market
The COVID-19 pandemic has brought substantial changes to the bicycle accessories industry. There has been a notable upsurge in bicycle and cycling-related product demand, driven by factors such as the quest for safe and socially distant transportation, gym closures, and a growing interest in outdoor activities. Conversely, factory closures and supply chain disruptions, coupled with a massive surge in online bike orders during the pandemic peak, have added to supply chain complexities. These disruptions have affected various bicycle manufacturers, resulting in product shortages and order delays. Consequently, the pandemic's impact on the bicycle accessories market has been multifaceted and intricate, encompassing increased demand alongside supply chain challenges.
Key Target Audience:
- Bike Enthusiasts
- Bike Rental and Tour Companies
- Bike Repair and Maintenance Services
- Bike Shops and Retailers
- Commuters
- Cyclists
- Fitness and Sports Centers
- Folding Bike Users
- Mountain Bikers
- Road Bikers
- Tourism Industry
- Others
Our in-depth analysis of the Singapore Bicycle Accessories Market includes the following segments:
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By Product Type:
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Apparels
Components
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By Bicycle Type:
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Cargo Bikes
Hybrid Bikes
Mountain Bikes
Road Bikes
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By Sales Channel:
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Offline
Online
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Key Topics Covered in the Report:
- Singapore Bicycle Accessories Market Size (FY’2023-FY’2033)
- Overview of Singapore Bicycle Accessories Market
- Segmentation of Singapore Bicycle Accessories Market By Product Type (Apparels, Components)
- Segmentation of Singapore Bicycle Accessories Market By Bicycle Type (Cargo Bikes, Hybrid Bikes, Mountain Bikes, Road Bikes, Others)
- Segmentation of Singapore Bicycle Accessories Market By Sales Channel (Offline, Online)
- Statistical Snap of Singapore Bicycle Accessories Market
- Expansion Analysis of Singapore Bicycle Accessories Market
- Problems and Obstacles in Singapore Bicycle Accessories Market
- Competitive Landscape in the Singapore Bicycle Accessories Market
- Impact of COVID-19 and Demonetization on Singapore Bicycle Accessories Market
- Details on Current Investment in Singapore Bicycle Accessories Market
- Competitive Analysis of Singapore Bicycle Accessories Market
- Prominent Players in the Singapore Bicycle Accessories Market
- SWOT Analysis of Singapore Bicycle Accessories Market
- Singapore Bicycle Accessories Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Singapore Bicycle Accessories Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Bicycle Accessories Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Bicycle Accessories Market
7. Singapore Bicycle Accessories Market, By Product Type (USD Million)
7.1. Singapore Bicycle Accessories Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Apparels
7.2.1. Cycling Clothes
7.2.2. Cycling Gloves
7.2.3. Cycling Shoes
7.2.4. Protective Gears
7.2.5. Others
7.3. Components
7.3.1. Air Pumps & Tyre Pressure Gauge
7.3.2. Bar Ends/Grips
7.3.3. Fenders & Mud Flaps
7.3.4. Kickstands
7.3.5. Lighting System
7.3.6. Lock
7.3.7. Mirrors
7.3.8. Pedals
7.3.9. Saddles
7.3.10. Water Bottle Cages
7.3.11. Others
8. Singapore Bicycle Accessories Market, By Bicycle Type (USD Million)
8.1. Singapore Bicycle Accessories Market Value Share and Forecast, By Bicycle Type, 2023-2033
8.2. Cargo Bikes
8.3. Hybrid Bikes
8.4. Mountain Bikes
8.5. Road Bikes
8.6. Others
9. Singapore Bicycle Accessories Market, By Sales Channel (USD Million)
9.1. Singapore Bicycle Accessories Market Value Share and Forecast, By Sales Channel, 2023-2033
9.2. Offline
9.3. Online
10. Singapore Bicycle Accessories Market Forecast, 2019-2033 (USD Million)
10.1. Singapore Bicycle Accessories Market Size and Market Share
11. Singapore Bicycle Accessories Market, By Product Type, 2019-2033 (USD Million)
11.1. Singapore Bicycle Accessories Market Size and Market Share By Product Type (2019-2026)
11.2. Singapore Bicycle Accessories Market Size and Market Share By Product Type (2027-2033)
12. Singapore Bicycle Accessories Market, By Bicycle Type, 2019-2033 (USD Million)
12.1. Singapore Bicycle Accessories Market Size and Market Share By Bicycle Type (2019-2026)
12.2. Singapore Bicycle Accessories Market Size and Market Share By Bicycle Type (2027-2033)
13. Singapore Bicycle Accessories Market, By Sales Channel, 2019-2033 (USD Million)
13.1. Singapore Bicycle Accessories Market Size and Market Share By Sales Channel (2019-2026)
13.2. Singapore Bicycle Accessories Market Size and Market Share By Sales Channel (2027-2033)
14. Singapore Bicycle Accessories Market, By Region, 2019-2033 (USD Million)
14.1. Singapore Bicycle Accessories Market Size and Market Share By Region (2019-2026)
14.2. Singapore Bicycle Accessories Market Size and Market Share By Region (2027-2033)
14.3. Eastern Region
14.4. Northern Region
14.5. Southern Region
14.6. Western Region
15. Company Profile
15.1. Bike Haus Intl
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Hello, Bicycle! Showroom Bugis
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Hup Leong Company
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Jet Cycle Pte Ltd
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Rodalink Singapore
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Tay Junction
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
