Bicycle Chain Market Poised for 6.6 % Growth, Set to Hit $28.66 Billion by 2029

What industry-specific factors are fueling the growth of the bicycle chain market?
The drug-eluting stent market is set to experience significant growth due to the rising population of cycling enthusiasts. These enthusiasts are individuals fervently interested in, and committed to, cycling, whether for sport or recreational purposes. Serving as an outstanding cardiovascular workout, cycling enhances heart health, boosts muscular strength, and improves stamina. Moreover, it is economically more feasible to purchase and maintain a bicycle than a car. The energy from pedaling is transferred to propel the bike forward via the bicycle chain, which interacts with the chainrings and rear cassette or freewheel. A report from the Outdoor Industry Association (OIA), a US-based nonprofit organization, reported in June 2023 that the number of outdoor cycling enthusiasts increased to 54.7 million, a rise of 6.5% from the previous year, 2022. In addition, there was an annual growth rate of 8.5% in BMX bicycling. Hence, the burgeoning population of cycling enthusiasts will notably influence the expansion of the bicycle chain market.

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What Is the projected market size and growth rate for the bicycle chain market?
The market size for bicycle chains has shown solid growth in the past few years. Set to increase from $7.43 billion in 2024 to $7.94 billion in 2025, it will experience a compound annual growth rate (CAGR) of 6.9%. The factors driving growth in this sector during the historic period include heightened urbanization and demand for more efficient transportation, increased consciousness about the health and fitness advantages of cycling, governmental policies supporting cycling, the establishment of cycling-friendly infrastructure, an expansion in bike-sharing programs, and rising fuel costs that make cheaper transportation attractive.

Over the coming years, the bicycle chain market is predicted to experience robust growth, reaching $10.24 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%. This surge during the forecast period can be linked to several factors including continuous urbanization and city congestions, advancements in electric bicycles (e-bikes), rising investments towards cycling infrastructure, increasing awareness towards environment and sustainable initiatives, as well as progress in lightweight and durable material technology. Key trends for the forecast period involve a surge in the uptake of electric bicycles (e-bikes), a spike in the demand for smart and connected bicycles, an increase in cycling tourism and events, growing options for bike-sharing and micro-mobility, and breakthroughs in technology for lightweight and durable materials.

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What new trends are reshaping the bicycle chain market and its opportunities?
In the bicycle chain market, major companies are focusing on personalization and customization of components by advancing the chain sprocket kits to improve performance and broaden their market footprint. A chain sprocket kit typically pertains to a collection of gears or sprockets designed for electric bicycles, encompassing elements like chainrings, cogs, or an entirely tailor-made cassette for the particular demands of electric bike motors and drivetrains. In December 2023, a notable development emerged from L. G. Balakrishnan & Bros. Ltd., an automotive component manufacturing company based in India. They launched the sector's inaugural electric bike chain sprocket kit, exclusively for Tork Motors, marking a noteworthy progression in electric mobility solutions. Concurrently, they introduced specialized chain sprocket kits for the Ultraviolette F77, targeting the unique needs of high-performance electric motorcycles. The company also broadened their product range with a new assortment of dampers made from poly PU rubber materials, thereby augmenting their automotive component portfolio.

What major market segments define the scope and growth of the bicycle chain market?
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

Subsegments:
1) By 6 Speed: Standard 6-speed Chains, Heavy-Duty 6-speed Chains
2) By 8 Speed: Standard 8-speed Chains, Heavy-Duty 8-speed Chains
3) By 10 Speed: Standard 10-speed Chains, Heavy-Duty 10-speed Chains
4) By Other Types: 9-Speed Chains, 11-Speed Chains, 12-Speed Chains, Single-Speed Chains, Variable Speed Chains

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Which region dominates the bicycle chain market?
North America was the largest region in the bicycle chain market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the bicycle chain industry growth?
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

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What Is Covered In The Bicycle Chain Global Market Report?

•Market Size Forecast: Examine the bicycle chain market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the bicycle chain market for a structured understanding.
•Key Players Overview: Analyze major players in the bicycle chain market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bicycle chain market.
•Segment Contributions: Evaluate how different segments drive overall growth in the bicycle chain market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bicycle chain market.
•Industry Challenges: Identify potential risks and obstacles affecting the bicycle chain market.
•Competitive Landscape: Review strategic developments in the bicycle chain market, including expansions, agreements, and new product launches.

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