Global Bicycle Components Market – Industry Trends and Forecast to 2030

Global Bicycle Components Market, By Component Type (Derailleurs, Road Group sets, Suspensions, Wheel Sets, Brakes, Caliper Type, Gears, and Others), Sales Channel (Specialty Bicycle Retailers, Discount Stores, Department Stores, Full-line Sporting Goods Stores, Outdoor Specialty Stores, and Other Sales Channel), Bicycle Type (Mountain Bike, Hybrid/Cross, Road, Comfort, Youth, Cruiser, Recumbent/Tandem, Electric, Folding) – Industry Trends and Forecast to 2030.

Bicycle Components Market Analysis and Size

The Bicycle Components Market refers to the global or regional marketplace where various parts and accessories used in the manufacturing, maintenance, and customization of bicycles are bought and sold. Parts and accessories for bicycles components include gears, brakes, frames, tires, pedals, and more. This market caters to various segments, including recreational cycling, professional sports, and urban transportation. Key drivers include growing fitness consciousness, environmentally friendly transportation solutions, and increasing urbanization. Market participants consist of manufacturers, wholesalers, retailers, and online platforms, all serving a diverse and expanding customer base. As the cycling industry continues to evolve, the Global Bicycle Components Market plays a pivotal role in shaping the cycling experience worldwide.         

Data Bridge Market Research analyses that the global bicycle components market which was USD 13.50 billion in 2022, is expected to reach USD 22.34 billion by 2030, and is expected to undergo a CAGR of 6.5% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Bicycle Components Market Scope and Segmentation

Market Definition

Bicycle components refer to the individual parts and accessories that constitute a bicycle's structure and functionality. These components include essential elements like frames, wheels, tires, brakes, gears, pedals, and handlebars, among others. Each component serves a specific role in the bike's operation and can vary in design and materials for different cycling applications, such as road cycling, mountain biking, or commuting. Manufacturers produce these components to meet various performance, durability, and weight requirements, allowing cyclists to customize and optimize their bikes for specific purposes. The quality and compatibility of bicycle components significantly influence the overall riding experience and safety, making them a crucial aspect of the cycling industry.

Global Bicycle Components Market

Drivers

• Increasing Use of Bicycle as Part of Fitness and Fun Activities

The upsurge in the use of bicycle as part of fitness and fun activities which is anticipated to boost the growth of bicycle components market. As bicycle delivers many mental and physical benefits with rising consumer acceptance of bicycle to improve the fitness and health activities. The increase in number of consumer which is opting for bicycling as a form of leisure is expected to boost the growth of the global bicycle components market.

• Rising Public Bicycle Renting Programs

Bike-sharing programs have become more popular worldwide, as an initiative to increase the use of cycling to reduce traffic congestion and minimize environmental pollution. These bicycles are available on rent therefore consumers don’t need to purchase a new bicycle for the use. The increasing initiative for bike sharing is increasing the bicycle demand, which are expected to boost the growth rate of the global bicycle component market.  

• Environmental Concerns

Concerns about environmental sustainability and reducing carbon emissions have encouraged the adoption of bicycles as an eco-friendly mode of transportation. This trend supports the bicycle components market, as people seek to upgrade or customize their bikes.

Opportunity

• Urbanization and Congestion

Urbanization and congestion drive the global bicycle components market as crowded cities seek sustainable transportation solutions. With urban areas growing, there is a rising demand for bicycles as an efficient, eco-friendly mode of transport, spurring the need for high-quality components. Bicycles are seen as a means to alleviate traffic congestion, reduce emissions, and promote healthier lifestyles, further propelling the market's growth. As a result, manufacturers and suppliers of bicycle components experience increased demand and innovation opportunities.

Restraints/Challenges

• High Competition in the Market

High competition can act as a restraint for the global bicycle components market by putting pressure on profit margins and limiting the pricing power of manufacturers and suppliers. Intense rivalry can lead to cost-cutting measures that may affect product quality and innovation. Additionally, a crowded market can make it challenging for smaller companies to gain market share, hindering their growth prospects. Moreover, the need to continually invest in research and development to stay competitive can strain the financial resources of companies in the industry.

• Economic Downturns as a Barrier of Market

Economic recessions and downturns can lead to decreased consumer spending on non-essential items like bicycles and components, affecting the market's growth.

This  global bicycle components market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global bicycle components market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In April 2019, Shimano, Inc. has launched “Discover Carbon Handlebar” which is lightweight equipping gravel riders with high-end options in the PRO Discover line
• In January 2019, Dorel Industries, Inc. is U.K. based company, this company has acquired Circle Bikes and Hot Wheels

Global Bicycle Components Market Scope

The global bicycle components market is segmented on the basis of component type, sales channel and bicycle type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component Type

• Derailleurs
• Road Group sets
• Suspensions
• Wheel Sets
• Brakes
• Caliper Type
• Gears
• Others

Sales Channel

• Specialty Bicycle Retailers
• Discount Stores
• Department Stores
• Full-line Sporting Goods Stores
• Outdoor Specialty Stores
• Other Sales Channel

Bicycle Type

• Mountain Bike
• Hybrid/Cross
• Road
• Comfort
• Youth
• Cruiser
• Recumbent/Tandem
• Electric
• Folding

Global Bicycle Components Market Regional Analysis/Insights

The global bicycle components market is analysed and market size insights and trends are provided by type and end user as referenced above.

The countries covered in the global bicycle components market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the global bicycle components market because of its advanced technological infrastructure and high adoption of smart city initiatives, strong presence of major players in the market and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth in the global bicycle components market during the forecast period of 2023 to 2030 due to of rapid urbanization, increasing infrastructure development, and the adoption of advanced technologies in countries such as China, Japan, and India. In addition, the region's expanding automotive and consumer electronics industries contribute to the growing demand for infrared LED lighting solutions. Furthermore, favourable government initiatives and investments in smart city projects further drive the market growth in the Asia-Pacific region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Bicycle Components Market Share Analysis

The global bicycle components market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global bicycle components market.

Some of the major players operating in the global bicycle components market are:

• Dorel Industries (Canada)
• Accell Group (Netherlands)
• Shimano Inc. (Japan)
• SRAM LLC (U.S.)
• Hero Cycles Ltd (India)
• Campagnolo S.R.L. (Italy)
• Merida Bikes (Taiwan)
• Specialized Bicycle Components (U.S.)
• Rohloff AG (Germany)
• Giant Bicycles (Taiwan)
• Currie Technologies (U.S.)
• OMAX Corporation (U.S.)
• Trek Bicycle Corporation (U.S.)
• Marin Bikes (U.S.)
• Atlas Cycles (Haryana) Ltd (India)