Bicycle components market is expected to witness CAGR of 6.5% from 2022 to 2029 in the forecast period of 2022 to 2030 and is further estimated to reach USD 22.34 billion by 2030 ,Size, Trends

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.

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.

Explore Further Details about This Research Bicycle Components Market Report

https://www.databridgemarketresearch.com/reports/global-bicycle-components-market

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.

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