What is Global Bike Locks Market?
The Global Bike Locks Market is a comprehensive study of the various types of bike locks available worldwide and their usage. This market is a significant segment of the global bicycle industry, focusing on the security aspect of bicycles. The market encompasses a wide range of products designed to protect bicycles from theft, including U-Locks, Chain Locks, Folding Locks, Cable Locks, and others. The value of this market was estimated at US$ 643.2 million in 2022 and is projected to reach US$ 913.9 million by 2029. The market is growing at a steady pace, with a Compound Annual Growth Rate (CAGR) of 4.6% expected from 2023 to 2029.
U-Lock, Chain Lock, Folding Lock, Cable Lock, Others in the Global Bike Locks Market:
The Global Bike Locks Market is segmented based on the type of lock. The U-Lock category holds the largest market share, accounting for 50% of the total market. These locks are popular due to their robust design and high level of security. Chain Locks are also widely used, offering flexibility and strength. Folding Locks are compact and easy to carry, making them a popular choice for cyclists on the go. Cable Locks are lightweight and versatile, suitable for securing bicycles in low-risk areas. The "Others" category includes various other types of locks, such as disc locks and wheel locks.
OEM, Aftermarket in the Global Bike Locks Market:
The Global Bike Locks Market is also segmented based on usage in Original Equipment Manufacturer (OEM) and Aftermarket. The OEM segment holds a larger market share, accounting for 60% of the total market. This segment includes bike locks that are sold as part of the bicycle package by the manufacturer. The Aftermarket segment, which accounts for the remaining 40% of the market, includes bike locks that are purchased separately by the bicycle owner after the original purchase. Both segments are crucial to the overall market, with the OEM segment driving initial sales and the Aftermarket segment ensuring ongoing demand.
Global Bike Locks Market Outlook:
Looking at the market outlook, the Global Bike Locks Market is expected to grow steadily over the forecast period. The market was valued at US$ 643.2 million in 2022 and is projected to reach US$ 913.9 million by 2029. This represents a CAGR of 4.6% during the forecast period. The Asia-Pacific region holds a significant share of the market, accounting for 35% of the total. The U-Lock category is the most popular product, holding 50% of the market share. In terms of application, the OEM segment holds a larger share of the market, accounting for 60%, while the Aftermarket segment accounts for the remaining 40%.
| Report Metric | Details |
| Report Name | Bike Locks Market |
| Accounted market size in 2022 | US$ 643.2 in million |
| Forecasted market size in 2029 | US$ 913.9 million |
| CAGR | 4.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Blackburn Design, Allegion, ABUS, OnGuard, TiGr lock, Master Lock, Seatylock, Litelok, Giant, TONYON, ZOLI, Yuema Security, Hiplok, Oxford Products |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
