LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global mountain biking equipment market report until 2021. This research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
“Hard adventure sports like racing, riding, mountain biking, and other adventure sports involving bicycles has been a key market driver. There are many clubs and associations being formed to unite people with similar interests in these sports. Some of the largest meetups by sports bicycle groups and clubs are the Hudson Valley Hikers in New York, US, the Chicago Hiking Outdoors in Chicago, US, The Vancouver Hiking Meetup Group in Vancouver, Canada, and the Trailblazer in London, UK,” says Brijesh Kumar Choubey, one of the lead analysts at Technavio for outdoor gear research.
Another important driver of this market is the thriving global adventure tourism industry. Geographically, Europe and South America have been showing the best growth in this market. This growth, both in terms of participation and expenditure, will directly impact the mountain biking equipment market in the coming years.
Competitive vendor landscape
The mountain biking equipment market is marked by the presence of multiple big and small brands. Vendors in the market are very competitive and offer products both through physical stores and online platforms. The market environment is set to get more competitive due to an increase in product/service extensions and technological innovations. Over the forecast period, key players are expected to extend their presence in developing countries which have a high potential for growth.
In this market, companies armed with better technical and financial resources are able to develop innovative products that render the competitors' products obsolete. This makes it a little difficult for new players in the market to keep up with the established players. Additionally, many international players will establish their presence worldwide through acquisitions during the forecast period.
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Top five vendors in the global mountain biking equipment market:
Giant Bicycles manufactures bicycles and operates as a subsidiary of Giant Manufacturing. It offers off-road and x-road bicycles. The company’s broad range of offerings enables it to serve diversified end markets and offers it attractive long-term growth opportunities. It has more than 12,000 retail partners and sells its products in the US and other parts of the world. It has taken strategic initiatives to increase its customer base in the global mountain biking. The wide operational presence of the compay can help the company to explore various opportunities in different cities and states in the US and help increase its customer base.
Schwinn operates as a sub-brand of Pacific Cycle, which is owned by the multinational company Dorel Industries. It offers cruisers, hybrid, bike path, mountain, urban, and kids bikes. Under bike gear, they have helmets and pads, pumps, lights, storage, and extras. Strategic initiatives such as new agreements and collaborations will help the company enhance its business operations. Schwinn is a subsidiary of Dorel Industries and, therefore, can gain support from its parent company's well-established business operations and distribution channels. Through its parent company, Schwinn has competitive advantages such as low outsourcing costs and can acquire companies or assets to expand its business.
SCOTT Sports offers bicycles and motorsport, wintersport, and running products worldwide. It also offers bikes and bike parts, apparel, helmets, men’s and women’s shoes, protection products, and others. SCOTT Sports has distribution networks in Italy, Japan, Kosovo, Latvia, Lithuania, Luxembourg, Malaysia, Nepal, Mexico, Mauritius, Andorra, and Argentina.
Specialized Bicycle Components
Specialized Bicycle Components, more commonly known as Specialized, manufactures bicycles, cycling apparel, and accessories. It also offers bike helmets, bike shoes, cycling clothing, mountain bike clothing, and cycling gloves. The company has entered into various agreements to increase its customer base in global mountain biking equipment market. It operates through dealers and retailers located worldwide. Its wide range of product offerings also allows the company to increase its market share and customer base.
Trek Bicycle offers bicycles for men, women, and children. It operates as a subsidiary of Roth Distributing. The company has taken several strategic initiatives to increase its customer base in the mountain biking equipment market over the past few years. In December 2015, the company announced the launch of its online portal in the country. Trek Bicycle is the first US brand that allows customers to order bikes directly from its website. Such initiatives will enhance the brand image of the company and increase its customer base.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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