Market Overview:
The global cycle spoke wires market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for bicycles and motorcycles across the globe. In terms of type, the drawn cycle spokes segment is expected to hold a major share of the global market in 2018. This can be attributed to their high strength and durability as compared to other types of spokes. In terms of application, the bicycle segment is expected to hold a major share of the global market in 2018.
Product Definition:
A spoke wire is a thin metal wire used to reinforce the spokes of a bicycle wheel. They are usually made from stainless steel, but can also be made from other metals such as aluminum.
Drawn Cycle Spokes:
Drawn cycle spokes are made of high-grade steel and have a much longer life than the ones manufactured by casting. The material used in manufacturing is selected as per the requirement of the industry. For instance, drawn cycle spoked wheels are used for heavy load carrying capacity applications whereas cast cycle spoked wheels are preferred for light load carrying capacity applications.
Bright Cycle Spokes:
The Bright Cycle Spokes are the bright and colorful lines that run from one end of the cycle to another. It is used in cycle spoke wires market for identification of phases, positions, and lengths of wires. The main function performed by this product includes identifying position and length of wire easily during installation process. Additionally, it also helps in minimizing errors while installing electrical wiring systems as it provides clear picture about phase placement which further reduces chances of errors occurring during installations.
Application Insights:
Bicycle was the largest application segment in 2017 and is expected to maintain its dominance over the forecast period. Cycle spoke wires are widely used in bicycle manufacturing as they offer lightweight, corrosion-free, high strength and stiffness. Increasing demand for bicycles on account of rising disposable income levels coupled with favorable government regulations promoting cycling as a healthy activity is projected to drive the market growth over the forecast period.
The other application segment includes products such as motorized bicycles, unicycles and tricycles among others. These types of vehicles mainly use cycle spokes made from steel or aluminum alloy due to their light weight properties which makes them suitable for such vehicles along with ease of fabrication offered by these materials compared to carbon fiber or composites used in other applications like automobiles or aircrafts.
Regional Analysis:
Asia Pacific dominated the global cycle spoke market in terms of revenue with a share of over 40.0% in 2017. This is attributed to increasing production and sales of bicycles as well as motorcycles in countries such as China, Japan, and India. In addition, rising disposable income levels coupled with an increase in consumer spending on leisure goods will boost the demand for automobiles which will further propel industry growth over the forecast period.
Europe was valued at USD X billion in 2017 owing to growing product adoption by cyclists for recreational riding across countries such as Germany, France, Italy.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 20% during the forecast period. This would lead to an increase in the demand for cycle spoke wires, as they are used in the manufacture of electric bicycles.
- Rising popularity of cycling as a mode of transportation: Cycling is becoming increasingly popular as a mode of transportation, due to its health and environmental benefits. This would lead to an increase in the demand for cycle spoke wires globally.
- Technological advancements: The technology used in the manufacture of cycle spokes is constantly evolving, with new materials and designs being developed every year. This would lead to an increase in the demand for cycle spoke wires from manufacturers worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Cycle Spoke Wires Market Research Report
By Type
Drawn Cycle Spokes, Bright Cycle Spokes, Galvanized Cycle Spokes
By Application
Bicycle, Motorcycle, Other
By Companies
Bekaert, Tata Wiron, Vom Hofe Group, Outokumpu, Taixing Hongye wire manufacturing, Superdrawn Wire Industries, Nantong Youbang Spoke, Zhejiang Skyrit Metal, Bekaert
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
183
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Cycle Spoke Wires Market Report Segments:
The global Cycle Spoke Wires market is segmented on the basis of:
Types
Drawn Cycle Spokes, Bright Cycle Spokes, Galvanized Cycle Spokes
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bicycle, Motorcycle, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bekaert
- Tata Wiron
- Vom Hofe Group
- Outokumpu
- Taixing Hongye wire manufacturing
- Superdrawn Wire Industries
- Nantong Youbang Spoke
- Zhejiang Skyrit Metal
- Bekaert
Highlights of The Cycle Spoke Wires Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Drawn Cycle Spokes
- Bright Cycle Spokes
- Galvanized Cycle Spokes
- By Application:
- Bicycle
- Motorcycle
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cycle Spoke Wires Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cycle spoke wires are a type of bike wiring that allow you to connect your bike's electrical components in a more organized and efficient way. They're typically made from durable, corrosion-resistant materials, and they come with connectors that make it easy to attach your lights, brakes, shifters, and other accessories.
Some of the major players in the cycle spoke wires market are Bekaert, Tata Wiron, Vom Hofe Group, Outokumpu, Taixing Hongye wire manufacturing, Superdrawn Wire Industries, Nantong Youbang Spoke, Zhejiang Skyrit Metal, Bekaert.
The cycle spoke wires market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cycle Spoke Wires Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cycle Spoke Wires Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cycle Spoke Wires Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cycle Spoke Wires Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cycle Spoke Wires Market Size & Forecast, 2018-2028
4.5.1 Cycle Spoke Wires Market Size and Y-o-Y Growth
4.5.2 Cycle Spoke Wires Market Absolute $ Opportunity
Chapter 5 Global Cycle Spoke Wires Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cycle Spoke Wires Market Size Forecast by Type
5.2.1 Drawn Cycle Spokes
5.2.2 Bright Cycle Spokes
5.2.3 Galvanized Cycle Spokes
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cycle Spoke Wires Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cycle Spoke Wires Market Size Forecast by Applications
6.2.1 Bicycle
6.2.2 Motorcycle
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cycle Spoke Wires Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cycle Spoke Wires Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cycle Spoke Wires Analysis and Forecast
9.1 Introduction
9.2 North America Cycle Spoke Wires Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cycle Spoke Wires Market Size Forecast by Type
9.6.1 Drawn Cycle Spokes
9.6.2 Bright Cycle Spokes
9.6.3 Galvanized Cycle Spokes
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cycle Spoke Wires Market Size Forecast by Applications
9.10.1 Bicycle
9.10.2 Motorcycle
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cycle Spoke Wires Analysis and Forecast
10.1 Introduction
10.2 Europe Cycle Spoke Wires Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cycle Spoke Wires Market Size Forecast by Type
10.6.1 Drawn Cycle Spokes
10.6.2 Bright Cycle Spokes
10.6.3 Galvanized Cycle Spokes
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cycle Spoke Wires Market Size Forecast by Applications
10.10.1 Bicycle
10.10.2 Motorcycle
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cycle Spoke Wires Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cycle Spoke Wires Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cycle Spoke Wires Market Size Forecast by Type
11.6.1 Drawn Cycle Spokes
11.6.2 Bright Cycle Spokes
11.6.3 Galvanized Cycle Spokes
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cycle Spoke Wires Market Size Forecast by Applications
11.10.1 Bicycle
11.10.2 Motorcycle
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cycle Spoke Wires Analysis and Forecast
12.1 Introduction
12.2 Latin America Cycle Spoke Wires Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cycle Spoke Wires Market Size Forecast by Type
12.6.1 Drawn Cycle Spokes
12.6.2 Bright Cycle Spokes
12.6.3 Galvanized Cycle Spokes
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cycle Spoke Wires Market Size Forecast by Applications
12.10.1 Bicycle
12.10.2 Motorcycle
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cycle Spoke Wires Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cycle Spoke Wires Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cycle Spoke Wires Market Size Forecast by Type
13.6.1 Drawn Cycle Spokes
13.6.2 Bright Cycle Spokes
13.6.3 Galvanized Cycle Spokes
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cycle Spoke Wires Market Size Forecast by Applications
13.10.1 Bicycle
13.10.2 Motorcycle
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cycle Spoke Wires Market: Competitive Dashboard
14.2 Global Cycle Spoke Wires Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bekaert
14.3.2 Tata Wiron
14.3.3 Vom Hofe Group
14.3.4 Outokumpu
14.3.5 Taixing Hongye wire manufacturing
14.3.6 Superdrawn Wire Industries
14.3.7 Nantong Youbang Spoke
14.3.8 Zhejiang Skyrit Metal
14.3.9 Bekaert
