The prospects of bicycle parking rack market are directly related to the broader trends concerning overall interest in bicycling. Positive public perception on taking up bicycling as an activity, combined with growing carbon consciousness about reducing the use of automobiles are broader developments influencing the bicycle parking rack market.
Governmental initiatives to revitalize the bicycle infrastructure to create an emission-free ecosystem has also led to significant opportunities for stakeholders in the bicycle parking rack ecosystem. Several countries such as Denmark, Netherlands and Germany are proactively contributing to establish a green ecosystem by making cycling safe and comfortable. Governmental bodies are incentivizing people using bicycles and offering extensive bicycle parking solutions.
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.
Customer Preference for Technologically Advanced, Value-for-money Bike Parking Racks Growing
The adoption of technologically-advanced, value-for-money bike parking racks is continues to witness steady increase. With cyclists seeking better parking solutions, integration of digital security systems. Institutions such as schools, universities, and offices are promoting use of bicycles among their employees. In a bid to eliminate the risk of thefts, manufacturers are making efforts to provide advanced solutions armed with security alarms and camera surveillance. Apart from manufacturers, governments across various regions are proactively participating in a bid to tackle theft issues.
‘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.
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.
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.