Global Europe Bike Locks Market Based on Product Type ( U-Locks, Chain Locks, Folding Locks, Cable Locks ), Based on Distribution Channel (OEM, Aftermarket), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Europe Bike Locks Market Overview

This all-encompassing study was created in collaboration with core business professionals, as well as a specialized assessment inspection group, to lend this report a comprehensive representation of current market conditions, enabling its intended owner to make critical business decisions with confidence. The objective of this detailed guide is to assist our valued customers to develop plans that will re-calibrate existing business practices, allowing them to reach previously unattainable business success. This comprehensive analysis will include information on prospective mergers & acquisitions, as well as revenues recorded by various market players. A thorough study of this industry’s segmentation will help lead to a better comprehension of the various elements that influence this market.

Features of Europe Bike Locks Market Report

• Presents in-depth industry information in an easy-to-comprehend format.
• Well-structured market segmentation details key aspects of each sub-segment.
• Well-analyzed profiles of key market players along with their respective strategies.
• Accurate analysis of potential sales opportunities in each region and country.
• In-depth information regarding existing as well as upcoming trends in this market.
• Well-examined industry drivers and restraints influencing each segment and region.
• A precise comprehension of company expansion strategies, new product launches, as well as potential acquisitions.
• This report offers a combination of well-articulated literature, along with graphical representations of numerous market variables.

Market Overview:

A bike lock is a security device that is used to prevent bike theft. It works by locking one of the bike’s wheels, or by latching the bike to a fixed object such as a bike rack or a pole. These locking devices vary in shape, size, and security, with the bulkiest, largest, and least portable of these devices being the most secure ones. Thus, it becomes important for companies to have a balance between security, portability, and cost.

Social Impact:

• There has been a steady increase in climate change awareness among consumers over the past decade, particularly among younger generations. Due to this factor companies around the globe are investing towards research & development of environmentally-friendly products and services in order to meet market demand. There has also been a substantial change in the manufacturing sector in terms of ensuring minimum pollution levels caused by various production processes.

• Developed nations such as Norway, Switzerland, Finland, Sweden, etc., have some of the highest per capita incomes in the world. Due to this factor, individuals living in these countries have the highest standard of living. In order to maintain this, they spend on a wide range of high-quality goods and services. This factor makes these countries important playgrounds for brands competing in the bike locks market in Europe.

Major Market Trends:

• To expand their market presence, companies in the bike locks market in Europe are implementing innovative business strategies such as targeted marketing, CSR activities, etc.  A major industry trend is the setting-up of specific business activities in countries that have favorable policies. Doing so, allows companies to reduce costs and employ specialists for every step of business.

• Furthermore, technological advancements in the manufacturing industry have led to novel assembly line designs for the production of bike locks.  Businesses are increasing their expenditures on factory automation in order to boost production efficiency and ensure uniform product quality.

Europe Bike Locks Market Outlook:

The bike locks market in Europe was valued at $419.3 Мn. in 2020, and is projected to register а САGR of 5.8% by 2030.

Europe Bike Locks Market Outlook by Segments:

With respect to ‘product type’ market segmentation, the U-locks sub-segment accounted for the highest number of revenue shares (49.4 %) of the bike locks market in Europe and is anticipated to register a CAGR of 6.0% over the forecast period

On the basis of ‘distribution channel’ market segmentation, the aftermarket sub-segment achieved the highest attractiveness index of 8.3, and this sub-segment is expected to achieve a CAGR of 5.6% by 2030.

Europe Bike Locks Market Outlook by Countries:

In terms of “country” market segmentation, Germany accounted for a significant percentage (19.8%) of revenues earned by this industry in 2020. Whereas, the market in Spain generated the fewest number of revenue shares.

COVID-19 Impacts:

The bike locks market in Europe is projected to experience a temporary phase of restrained revenue growth. Supply-chain disruptions caused as a result of this outbreak have hampered production activities across multiple industries. The sales of the U-lock sub-segment, which accounts for the largest revenue share of this market, have taken a nosedive. Several companies such as Fortune Brands Home & Security Inc. (Master Lock), Giant Manufacturing Co. Ltd, August Bremicker Söhne KG, etc., were forced to halt their operations temporarily, following the enforcement of stringent restrictions and other government orders aimed at containing the spread of the virus.

Nonetheless, various industry players in the bike locks market in Europe are now increasing their focus on the establishment of successful collaborations, acquisitions, and/or joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local as well as global scale. This factor paired with cost-effective manufacturing facilities available in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Key Players:

• Fortune Brands Home & Security Inc. (Master Lock)
• Allegion plc.
• Giant Manufacturing Co. Ltd.
• August Bremicker Söhne KG
• Raleigh Bicycle Company
• Oxford Products Ltd.
• Sinox company Ltd.
• Hiplok
• Litelok (Zeal Innovation Ltd.)

Segmentation of the Europe Bike Locks Market:

Based on Product Type

• U-Locks
• Chain Locks
• Folding Locks
• Cable Locks

Based on Distribution Channel

• OEM
• Aftermarket

Based on Country

• Germany
• France
• UK
• Russia
• Italy
• Spain
• Rest of Europe

For the Europe Bike Locks Market research study, the following years have been considered to estimate the market size: