Global Bicycle Components Market Projected to Surpass $18.28 Billion by 2029 with 7.5% Annual Growth

Which drivers are expected to have the greatest impact on the over the bicycle components market's growth?
The bicycle component market is poised for future growth, fueled by the surge in electric bicycle sales. Electric bicycles, equipped with propulsion-assist motors, are gaining popularity due to their user-friendly nature, environmental sustainability, and their ability to cater to riders of various fitness levels. The incorporation of specific components like motors, batteries, drive and braking systems in e-bikes elevates the cycling experience, making it an enjoyable activity for a diverse group of riders. As per the data shared by the Office of Energy Efficiency and Renewable Energy, a US government agency, the e-bike sales in the United States soared to 1.1 million units in 2022, showing remarkable growth in December 2023. This was a significant increase from the sales in 2021, with figures more than double those of 2020. Consequently, the expanding electric bicycle market is expected to boost the bicycle components industry.

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What is the future CAGR of the bicycle components market, and how will it impact industry expansion?
In recent years, the bicycle components market's size has expanded considerably. It is projected to increase from $12.71 billion in 2024 to $13.69 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. Factors contributing to the historical growth include the rise in urbanization, a growing emphasis on health, the heightened popularity of cycling as a sport, the enhanced awareness towards the environment, the spread of bike-sharing programs, higher fuel costs, and an uptick in recreational cycling.

Striking escalation is expected to be witnessed in the bicycle components market size over the upcoming years. The market is projected to hit a size of $18.28 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth over the projected period include a heightened health and fitness consciousness, rising ecological concerns, increasing urban development, a need for proficient commuting alternatives, rising popularity of e-bikes, expanded cycling infrastructure, a shift in consumer preferences towards modifiable, high-performance parts, and a burgeoning international bicycle tourism market. Pertinent trends during this forecast period comprise advancements in featherweight materials, incorporation of digitally shifted systems, advancements in aerodynamic design, integration of intelligent technology, and enhancements in braking systems.

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What are the most significant trends transforming the bicycle components market today?
Major bicycle component market players are integrating enhancements in electronic shifting systems, such as wireless shifters, to improve the quality of the ride by offering more accurate and effective gear modifications. Electronic components like wireless shifters, which bring about gear changes through electronic indicators, are replacing old-school mechanical wires to provide better precision and functionality. Take for example, in May 2024, the cycling component producer from Japan, Shimano Inc., introduced the 2x12-Speed GRX Di2. This system comprises double control levers developed for comfort and management, a rear derailleur for superior handling of the chain, and a front derailleur fine-tuned for gravel, guaranteeing precise shifting. The system operates on wireless shifters connected to wired derailleurs via a central battery. These new shifters promote improved ergonomics. Coupled with conventional RX820 components, it grants dependable 2x12-speed gravel gearing performance.

Which key market segments comprise the bicycle components market and drive its revenue growth?
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 regions are at the forefront of bicycle components market expansion?
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.

Who are the leading players fueling growth in the bicycle components market?
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.

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What Is Covered In The Bicycle Components Global Market Report?

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

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