Impact Of Electric Bikes On The Bicycle Component Market: Major Factor in the Transformation of the Bicycle Components Market in 2025

How Will the Bicycle Components Market Grow, and What Is the Projected Market Size?
There has been a significant enlargement in the size of the bicycle parts market in the latest years. Expected to increase from $12.71 billion in 2024 to $13.69 billion in 2025, it boasts a compound annual growth rate (CAGR) of 7.7%. Factors contributing to this steady rise in the past include growing urbanization, heightened attention to health, increasing interest in cycling as a sport, rise in eco-consciousness, expansion of bike-sharing initiatives, escalating fuel costs, and growing fame of leisure cycling.

Strong expansion is expected within the bicycle components market in the coming years, with its value projected to reach $18.28 billion by 2029, growing at a compound annual growth rate of 7.5%. Factors contributing to this development can be accredited to heightened health and fitness consciousness, increasing environmental sensitivity, escalating urbanization and the requirement for effective transportation options, growing popularity of e-bikes, development of cycling infrastructure, shifting customer inclinations towards personalizable and high-performance elements, and burgeoning global bicycle tourism sector. Noteworthy trends anticipated in the forecast period encompass breakthroughs in lightweight materials, the adoption of electronic shifting systems, progress in aerodynamic designs, incorporation of intelligent technology, and enhancements in braking systems.

What Is Contributing to the Growth of the Bicycle Components Market?
The anticipated growth in the bicycle component market is largely fueled by the rising sales of electric bikes. These bicycles are outfitted with electric engines that assist in propulsion, gaining favor for their convenience, environmental advantages, and capacity to accommodate riders of diverse physical abilities. The incorporation of specialized elements such as motors, batteries, drive systems, and brake systems enhances the overall cycling experience on an e-bike, making it more popular among a wider audience. The Office of Energy Efficiency and Renewable Energy, a US government agency, reported that e-bike sales in the United States hit 1.1 million units in December 2023. The growth in 2021 was particularly impressive, with sales over double the numbers from 2020. Hence, the surge in electric bicycle sales is set to boost the bicycle components market.

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Who Are the Major Industry Players Fueling Bicycle Components Market Expansion?
Major companies operating in the bicycle components market are Trek Bicycle Corporation, SRAM LLC, Merida Industry Co. Ltd., Accell Group, Specialized Bicycle Components Inc., DT Swiss, Cycling Sports Group Inc., Campagnolo S.r.l., Hero Cycles, Mavic, Hayes Bicycle, Avon Cycle, Chris King Precision Components, Cane Creek Cycling Components, Rohloff AG, Look Cycle, Marin Bikes, Magura, Tektro Technology Corporation, PROLOGO, KMC Chain, Praxis Works, RockShox Inc.

Which Key Developments Are Influencing the Bicycle Components Market?
Leading firms in the bicycle components market are making strides in improving electronic shifting systems, like wireless shifters, to augment the cycling experience with more exact and effective gear transitions. These wireless shifters, an evolution of electronic components, permit gear transitions using electronic signals and supersede conventional mechanical cables, resulting in better precision and functioning. For example, Shimano Inc., a company headquartered in Japan and recognized for manufacturing cycling components, introduced the 2x12-Speed GRX Di2 in May 2024. The GRX Di2 configuration encompasses dual control levers for ultimate comfort and control, a superior rear derailleur for supreme chain handling, and a front derailleur tailored for gravel to promise accurate gear shifts. The system uses wireless shifters connected to wired derailleurs via a main battery, and boasts new shifters with enhanced ergonomics. Alongside the existing RX820 components, it offers a trustworthy 2x12-speed gravel geared performance.

How Is the Segmentation of the Bicycle Components Market Defined?
The bicycle components market covered in this report is segmented -

1) By Component: Frames, Saddles, Rims, Brakes, Pedals
2) By Bicycle: Mountain, Hybrid Or Cross, Road, Comfort, Youth, Cruiser, Electric
3) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket

Subsegments:
1) By Frames: Aluminum Frames, Carbon Fiber Frames, Steel Frames, Titanium Frames, Plastic Or Composite Frames
2) By Saddles: Gel Saddles, Foam Saddles, Leather Saddles, Padded Saddles, Racing Saddles, Comfort Saddles
3) By Rims: Alloy Rims, Carbon Fiber Rims, Stainless Steel Rims, Disc Brake-Compatible Rims, Tubeless Rims
4) By Brakes: Disc Brakes (Hydraulic, Mechanical), Rim Brakes (Caliper, V-Brakes), Drum Brakes, Coaster Brakes, Hydraulic Brakes
5) By Pedals: Clipless Pedals, Platform Pedals, Toe-Clip Pedals, Bmx Pedals, Mountain Bike Pedals, Road Bike Pedals

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What Is the Leading Region in the Bicycle Components Market?
North America was the largest region in the bicycle component market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Bicycle Components Global Market Report?

- Market Size Analysis: Analyze the Bicycle Components Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bicycle Components Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bicycle Components Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bicycle Components Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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