NEW YORK, Oct. 8, 2020 /PRNewswire/ — Rapidly develop cycling and e-bike infrastructure on a large scale and encouraging of cycling via pricing policies and information campaigns to proliferate are expected to increase the procurement rate of bicycles over the coming years. Subsequently, this will lead to the ascending demand for bicycle brake components.
As per PMR analysis, the global bicycle brake components market is anticipated to expand at a healthy CAGR of 7% during the forecast period of 2020-2030.
Key Takeaways from Bicycle Brake Components Market Study
- The adoption of cycling as a part of healthy lifestyle will have a considerable impact on the environment as well, and is expected to save trillions of dollars over next couple of decades.
PMR forecasts that, there will be a rather sound bicycle fleet growth rate in economies such as Europe, the U.S, and China, with key emphasis on