Bicycle Accessory Market to Expand at 7.2% CAGR by 2034

In 2024, the global bicycle accessory market (自転車アクセサリー市場) is forecasted to reach a value of US$ 18,322.2 million and is anticipated to grow at a compound annual growth rate (CAGR) of 7.2%. By 2034, it is expected to expand further, reaching a market value of US$ 36,721.9 million.

The bicycle accessory market is experiencing a significant surge in demand, driven by a global trend towards healthier and more sustainable lifestyles. As more people opt for cycling as a mode of transportation, leisure activity, or fitness regime, the market for bicycle accessories has witnessed steady growth. The market dynamics are influenced by various factors, including increasing urbanization, rising environmental awareness, and a growing emphasis on personal health and fitness.

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Market Dynamics:

The bicycle accessory market (자전거 액세서리 시장) is propelled by a combination of factors, including the increasing popularity of cycling as a recreational activity and a mode of transportation. Urbanization has led to congested roads and increased pollution, prompting people to seek alternative modes of travel, such as cycling. Additionally, the growing awareness about environmental issues and the benefits of physical exercise have contributed to the rising demand for bicycles and accessories.

Technological advancements have also played a significant role in shaping the market dynamics. Innovative accessories, such as smart helmets, GPS trackers, and bike lights, are gaining traction among cyclists. These accessories not only enhance the safety and convenience of cycling but also provide a more enjoyable riding experience.

Market Future Outlook:

The future outlook for the bicycle accessory market is promising, with continued growth expected in the coming years. The increasing focus on sustainability and eco-friendly transportation solutions is likely to drive demand for bicycles and accessories. Governments and organizations worldwide are promoting cycling as a means to reduce carbon emissions and improve public health, which bodes well for the market.

Moreover, the rise of electric bicycles (e-bikes) is expected to create new opportunities for accessory manufacturers. E-bikes require specialized accessories, such as batteries, chargers, and motor systems, which are expected to drive growth in the market. The growing popularity of cycling tourism is also expected to boost the demand for high-end accessories, such as bike racks, panniers, and bikepacking gear.

Market Insights:

The bicycle accessory market (marché des accessoires de vélo) is characterized by a high degree of fragmentation, with numerous players competing for market share. The market is segmented based on product type, including helmets, lights, locks, pumps, and others. Asia Pacific is expected to emerge as a lucrative market for bicycle accessories, owing to the growing popularity of cycling in countries like China and India.

Key Players:

Accell Group
Avon Cycles Ltd.
Campagnolo S.R.L
Garmin Ltd.
Giant Manufacturing Co. Ltd.
Merida Industry Co. Ltd.
Specialized Bicycle Components Inc.
Trek Bicycle Corp.
DT Swiss
Lezyne
Endura Ltd.

Competitive Landscape:

The competitive landscape of the bicycle accessory market is characterized by a diverse range of players vying for market share and driving innovation. Established brands, including traditional manufacturers and specialized cycling gear companies, compete alongside a surge of innovative startups entering the market.

Competition in key areas focuses on the development of technologically advanced accessories that enhance the overall cycling experience. This includes smart helmets and GPS-enabled devices. Additionally, safety features, design aesthetics, and environmentally sustainable practices play pivotal roles in distinguishing brands in this competitive space.

The expansion of e-commerce platforms further intensifies competition by offering consumers a wide array of choices and increasing brand visibility. Collaborations and strategic partnerships between accessory manufacturers and bicycle producers are common, allowing for bundled offerings and comprehensive solutions.

Recent developments in the bicycle accessory market include Mycle riders introducing a specialized range of accessories tailored explicitly for the Mycle 'Cargo' model. These accessories are designed to be compatible with other Mycle bicycles, catering to a broader spectrum of their customer base.

In addition, Cynisca Cycling has announced noteworthy collaborations with renowned brands to elevate their performance. They have forged partnerships with Ventum for frames, Shimano for groupsets and wheels, Vittoria for tires, WTB for saddles, and Arundel Bicycle Company for tape, cages, and bags.

As the market continues to grow, it is crucial for players in the bicycle accessory industry to stay abreast of evolving consumer preferences and swiftly adapt to emerging trends in order to achieve sustained success.

Segmentation of Bicycle Accessory Market Research

By Bicycle Type:
Mountain Bike
Hybrid/Cross
Road
Comfort
Youth
Cruiser
Electric & Others

By Product Type:
Helmets
Gloves & Warmers
Jersey/Tee
LED Lights
Mirror
Bottle Cage
Pump (Hand and Foot)
Bar Ends/Grips
Kickstand
Saddles & Covers
Mudflaps
Others

By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

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