Wall-mounted Bike Storage: Introduction
- Wall-mounted bike storage ensures optimum usage of parking space. It is majorly used in different metro cities where cost of parking is high.
Key Drivers of the Global Wall-mounted Bike Storage Market
- Demand for wall-mounted bike storage has increased over the last few years as a result of increasing cost of parking space in metro cites across the globe. Increasing population in Tier 1 cities coupled with drastic change in parking cost has propelled the demand for wall mounted bike storage globally.
- On the basis of capacity, the 2 to 10 segment accounted for major share in the wall-mounted bike storage market at the global level. Most private and commercial places prefer to install wall mounted bike storage to increase their space usage. This segment is expected to maintain its dominance over the forecast period 2020 to 2030.
- As a result of Covid-19, the overall wall mounted bike storage market has witnessed a slowdown in 2020. The market is expected to grow at a significant pace in 2021 and 2022.
Rising Parking Cost Globally to Create New Market Opportunities
- Parking cost is increasing globally. This is one of the major factors creating new opportunity in the wall mounted bike storage market. Commercial places including IT companies are using wall mounted bike storage to decrease their overall parking cost.
High Bargaining Power of Buyers to Restrict Market Growth
- Wall-mounted bike storage is available in many product ranges. Moreover, many small-scale manufacturers offer this product in a lower cost. As a result, bargaining power of buyers is very high. This slows down the market for large scale wall-mounted bike storage manufacturers.
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Asia Pacific the Dominant Market for Wall-mounted Bike Storage
- Asia Pacific accounted for the fastest growing wall-mounted bike storage market in 2019. North America and Europe accounted for significant share of the wall-mounted bike storage market, with major players operating their global market from these regions.
- Many small & medium companies are present in North America, Asia Pacific, and Latin America. However, Germany and China are the hubs of wall-mounted bike storage manufacturers.
Key Players Operating in the Global Wall-mounted Bike Storage Market
The global wall-mounted bike storage market is fragmented in nature. Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the key players operating in the global wall-mounted bike storage market are listed below:
- Allen Sports USA
- Atera GmbH
- Car Mate Mfg. Co. Ltd.
- Kuat Innovations
- Mont Blanc Group AB
- Rhino Rack Pty Ltd.
- Thule Group AB
- Tyger Auto, Inc.
- VDL Groep BV
- Yakima Products, Inc.
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Global Wall-mounted Bike Storage Market: Research Scope
Global Wall-mounted Bike Storage Market, by Capacity
- Below 2
- 2 to 10
- Above 10
Global Wall-mounted Bike Storage Market, by Application
Global Wall-mounted Bike Storage Market, by Distribution Channel
Global Surface Grinding Machine Market, by Region
- North America
- Rest of North America
- Western Europe
- Nordic countries
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
The report on the global wall-mounted bike storage market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.