Efforts are being made by manufacturers in bicycle parking rack market to expand with strategic interventions including promising ventures, revamps in production and marketing framework, introduction of enhanced product portfolio and technological breakthroughs in bicycle parking rack market. Some of the key players operating in bicycle parking rack market include Bikeep Inc., Cycle-Works Ltd., Dero Bike Racks Inc., Falco BV Ltd., Forms and Surfaces Inc., Graber Manufacturing Inc., Ground Control Systems, Leda Security Products Pty Ltd., Reliance Foundry Co. Ltd., Saris Cycling Group Inc., and Urban Bicycle Parking Systems Inc.
Some of the promising initiatives or developments brought into picture by premium companies in bicycle parking rack market include double up vertical bicycle racks, inclusion of bike repairing stations nearby parking racks, huge parking spots with extended capacity, double decker operational bike racks, as-assisted two tier bike racks, and so on.
Research Methodology
The research study on bicycle parking rack market by Fact.MR for the forecast period of 2018 to 2028 has been diligently compiled post analyzing the growth of bicycle parking rack market over the forecast timeline. This report on bicycle parking rack market has been comprehensively crafted to offer most actionable business insights for participants in the bicycle parking rack market space to grasp. The bicycle parking rack market report has been backed by rigorous industry intelligence procured from both secondary and primary research sources. The report addresses precise data on bicycle parking rack market, which have been gleaned from a series of meticulous research and interaction with domain leaders and market experts.
Secondary research performed for the study on bicycle parking rack market is based on the methodical data inscribed from relevant publications such as investor presentations, certified authorities, international magazines, organizational annual reports, SEC filings, respected industry associations, whitepapers, databases, and so on. On the contrary, primary research methodology for bicycle parking rack market entails assembling of the primary data related to bicycle parking rack market through direct interactions with SMEs and key opinion leaders present across the value chain of bicycle parking rack market.
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Market Definition
A bicycle parking rack, widely known as bike rack and bicycle stand, is a device which is used for parking bicycles. Bicycles are attached to these racks for safe and secure parking. A bike rack can be free standing or can be safely attached to the ground or to some stationary object such as a building.
‘Shared Bikes’: An Evolving Trend that’s Likely to Create Ample Opportunities
With shared bikes evolving as the latest trend facilitating public commute, companies offering bike sharing solutions are vying to expand across multiple regions. Ofo and Mobike, the two biggest bike-share operators of China, are planning to expand across more than 200 cities by the end of 2018. Having said that, Reckless parking of shared bikes has turned up as one of the major concerns evoking high demand for bicycle parking racks. Reckless parking has led to issues with distribution of bikes and blocking of public spaces, which has persuaded town councils to include parking racks as an imperative in their bicycle sharing schemes.
Bike Racks for Corporate Branding: An Investment with a Significant Impact
Psychology states that customers tend to quickly draw metaphors from physical cues of a brand or business, which further encourages the customers to come up with specific conclusions. With reference to this, several businesses have started making bicycle parking racks a brand addition adding to their aesthetics. Requirements from businesses for underlining a well-constructed corporate brand is spurring revenues of bicycle parking rack market. Both small and large businesses across the world are evolving as demand generators in bicycle parking rack market for displaying a signature of engagement and goodwill.
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