Bicycle Component Market Size, Share, Growth, Analysis Report 2034

 The size of the bicycle components market worldwide is estimated to reach US$ 12.35 billion in 2024. Fact.MR's latest market report estimates market growth at a CAGR of 6.7% and a value of US$ 23.7 billion by 2034-end.

Bicycle parts consist of handlebars, pedals, brakes, gears, wheels, tyres, and frames. Each part plays a separate role in the functioning of the bike and can differ in appearance and structure for various purposes of cycling, such as road cycle, mountain cycle, or commuting. Rising fuel prices are motivating the public to use bicycles more.

For More Insights into the Market, Request a Sample of this Report:
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Country-wise Insights

East Asia, Europe, and North America are the markets that offer viable opportunities for bicycle component manufacturers. Cycling accessories and components have a well-developed supply chain in the Asia Pacific due to the fact that it has some of the world's largest bicycle manufacturers, such as Giant Manufacturing Co. Ltd. and Merida Industry Co. Ltd.

North America bicycle component sales are also expected to grow at a CAGR of 5.9% in the following ten years, with the United States commanding 74.3% of the North American bicycle component market share.

Chinese sales of bicycle parts are growing at a faster rate on account of government encouragement, development of infrastructure, and rising health awareness. As cycling is becoming popular, demand for bicycle parts is expected to keep growing on the positive side.

Category-wise Insights

Frames hold 38% market share, and brakes hold 18% share currently. Sales of both parts are projected to reach US$ 8.5 billion and US$ 4.3 billion, respectively, within the next 10 years.

The frame of the bicycle is paramount to the design and safety of a bicycle. It serves as the foundation of the structure of the bicycle and greatly contributes to its looks and safety aspects. With the rising popularity of recreational activities, the market for recreational cycling is expected to increase. The shift towards bicycles as a convenient fitness equipment that encourages a healthy lifestyle and alleviates issues such as obesity is expected to drive demand for bicycle parts.

Competitive Landscape

Major competitors in the bicycle component industry are Accell Group, Dorel Industries, Shimano Inc., SRAM LLC, Hero Cycles Ltd., Campagnolo S.R.L., Merida Bikes, Specialized Bicycle Components, Trek Bicycle Corporation, Marin Bikes, and Atlas Cycles Ltd.

Shimano, global manufacturer of bicycle components, will be utilizing its new facility in Singapore as a springboard for investigating Southeast Asia's sports bike high-potential market. This was stated by the company's Chair and Chief Executive Yozo Shimano, according to a report by the Financial Times.
SRAM is an American company that specializes in developing and manufacturing various bicycle components. In January 2023, the firm initiated a testing lab in Schweinfurt, Germany, which performs dynamic and static tests on various bicycle components.

Browse Full Report: https://www.factmr.com/report/bicycle-component-market 

Segmentation of Bicycle Component Market Research

  • By Type :
    • Mountain
    • Hybrid/Cross
    • Electric
    • Road
    • Comfort
    • Youth
    • Cruiser
  • By Component :
    • Frames
    • Saddles
    • Rims
    • Brakes
    • Pedals
  • By Sales Channel :
    • OEMs
    • Aftermarket
  • By Region :
    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

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