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Bottle cages have been widely in use in the bikes for the convenience of the rider to carry the water, juices or other drinks. These cages are placed on the rear or on the frame of the bike. The growing number of bicycles in various sports such as racing, mountaineering, and others has increased the scope for bottle cages. Taiwan has a huge market of bicycles, largely produced and exported from Taiwan. Europe is the largest importer of bicycles from Taiwan. The various cycling sports such as the Taiwan Cycling Festival that includes multiple cycling events, attracts an increased supply of bicycles, equipped with bottle cages. New routes are being constructed in Taiwan that is highly suitable for cyclists. In 2017, 300 km route has been built, and Taiwan is considered as Asia’s leading bicycle city.
Taiwan Bottle Cages Market Segmentation
Bottle Cage Manufacturers
Cycling Bottle Manufacturers
Fiber Reinforced Material (FRM)
By Cages Type
Market Share by Region and Material
Based on geography, Central Taiwan had the largest share of 63.2% of the total Taiwan bottle cages market in 2017, with the presence of the maximum number of bottle cage manufacturers such as BEV International Corp., Karbona Parts Inc., and others. Central Taiwan is an opportunistic market and it is expected that it will continue to grow at a rate of 3.1% annually.
On the basis of material, fiber-reinforced material (FRM) accounted for the largest market share of 39.2% in 2017 of the total Taiwan bottle cages market. Taiwan has a sufficient supply of FRM and its lightweight property keeps the total weight of the bike low, hence bottle cages of FRM have been majorly purchased as compared to other material bottle cages. Aerobar cages market is growing at a fast rate of 4.3% annually, being convenient for the riders use as per the position and carrying space of the bottle cages.
Market Trends, Drivers and Challenges
There is a rising trend of new manufacturers of bottle cages are coming up from within the country and even the foreign companies, as Taiwan has become the preferred destination economy benefits from regional economic dynamics, high purchasing power population and the presence of high-technology penetration.
According to the report, the major driving factor for the growth of bottle cages market is the lack of space on the bikes and the requirement of space to carry bottles along. Using any other methods such as basket on rear makes the bicycle heavy and unbalanced. The mountain bicycles, cross-country bicycles, and others regularly need the use of a bottle, thus driving the growth of bottle cages.
Further, the application of FRM bottle cages is also associated with high prices, making the product costlier than other types of cycle accessories and thus it becomes difficult for the manufacturers to readily opt for such options.
Covered in This Taiwan Bottle Cages Market Report
The report covers the present ground scenario and the future growth prospects of the bottle cages market for 2017-2025 along with the sales and revenue of the bottle cages. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of shipment of the bottle cages, manufacturers and distributors of the bottle cages, market trends, raw material supply, cyclist population, demand and supply of bottle cages.
Bottle cages market outlook 2017-2025, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the bottle cages market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Taiwan bottle cages market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.
Key Market Players
Taiwan bottle cages market report comprises of the following companies as the key players in the bottle cages market: International Corp., Karbona Parts Inc., Shuz Tung Machinery Industrial Co., Ltd., Chern Shianq Enterprise Co., Ltd., Asia Bicycle Trading Company.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.