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Bicycle Chain Market Report, Overview, Size, Share, Trends, Growth And Forecast By 2033
Bicycle Chain Market Report
As per the report, the bicycle chain market size has grown strongly in recent years. It will grow from $6.97 billion in 2023 to $7.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The bicycle chain market size is expected to see strong growth in the next few years. It will grow to $9.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Rising Cycling Enthusiast Population Sparks Surge In Bicycle Chain Market Growth
The growing cycling enthusiast population is expected to propel the growth of the drug-eluting stent market going forward. Cycling enthusiasts are individuals passionate about and dedicated to cycling as a recreational activity or sport. Cycling is an excellent cardiovascular exercise that improves heart health, builds muscle strength, and enhances endurance. Moreover, bicycles are more affordable to purchase and maintain compared to cars. The bicycle chain supports the transfer of energy from pedaling to propel the bicycle forward by engaging with the chainrings and rear cassette or freewheel. For instance, in June 2023, according to a report by the Outdoor Industry Association (OIA), a US-based non-profit organization, participation in outdoor cycling grew to 54.7 million enthusiasts, marking a 6.5% increase from 2021 to 2022. Additionally, BMX bicycling saw an annual growth rate of 8.5%. Therefore, the growing cycling enthusiast population will drive the growth of the bicycle chain market.
Advancements In Electric Bike Chain Sprocket Kits And Customized Component Solutions
Major companies operating in the bicycle chain market are engaged in customizing and personalizing components by advancing chain sprocket kits to enhance performance and expand market reach. A chain sprocket kit typically refers to a set of sprockets or gears designed for electric bicycles/bicycles, which include components such as chainrings, cogs, or a complete cassette tailored to the specific needs of electric bike motors and drivetrains. For instance, in December 2023, L. G. Balakrishnan & Bros. Ltd., an Indian-based automotive component manufacturer, introduced the industry's first electric bike chain sprocket kit, exclusively supplied to Tork Motors, marking a significant advancement in electric mobility solutions. Additionally, they unveiled specialized chain sprocket kits designed for the Ultraviolette F77, catering to the specific requirements of high-performance electric motorcycles. Alongside these advancements, the company expanded its offerings with a new range of dampers made from poly PU rubber materials, enhancing its portfolio of automotive components.
The bicycle chain market covered in this report is segmented -
1) By Type: 6 Speed,8 Speed, 10 Speed, Other Types
2) By Material Type: Carbon Steel, Alloy Steel, Nickel Plated
3) By Application: Road Bikes, Mountain Bikes, Hybrid And Commuter Bikes, Electric Bikes, E Cargo Bikes
4) By Sales Channel: First Fit, Replacement
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Major companies operating in the bicycle chain market are Shimano Inc, Tsubakimoto Chain Co. , SRAM LLC, Renold PLC, KettenWulf Betriebs GmbH, Campagnolo Srl, Sedis, Wippermann GmbH, SunRace Sturmey-Archer Inc, Taya Chain Co. Ltd., Full Speed Ahead (FSA), Sugino Machine Limited, BBB Cycling, Miche S.p.A., Regina Chain, CeramicSpeed Sport A/S, KMC Chain Industrial Co Ltd., Izumi Chain Mfg Co Ltd, Kettenfabrik Unna AG, Atlas Engineering Works (Atlas Chains), Token Products USA, HKK Chain, OMO Bikes, VisionTech
Contents of the report:
1. Executive Summary
2. Bicycle Chain Market Report Structure
3. Bicycle Chain Market Trends And Strategies
4. Bicycle Chain Market - Macro Economic Scenario
5. Bicycle Chain Market Size And Growth
…..
27. Bicycle Chain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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