Bicycle Accessories Industry Set to Achieve $20.4 Billion Milestone by 2029 | Steady 7.7% CAGR

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What Is the Long-Term Growth Forecast for the Bicycle Accessories Market Size 2025?
The market size for bicycle accessories has experienced substantial growth in the past few years. It is projected to increase from $14.25 billion in 2024 to $15.19 billion in 2025, showing a compound annual growth rate (CAGR) of 6.6%. This growth, during the historic period, is linked to the escalating number of cycling aficionados, the trend of urbanization and commuting, cycling events and matches, customization and personalization options, as well as the impact of professional cycling.

What CAGR is Forecasted for the Bicycle Accessories Market Through 2029?
The market size of bicycle accessories is anticipated to witness robust growth in the coming years, expanding to a substantial $20.4 billion by 2029, driven by a compound annual growth rate (CAGR) of 7.7%. The projected growth during the forecast period can be credited to the increasing adoption of micromobility solutions, focus on health and fitness, incorporation of artificial intelligence, shift towards e-bikes, and a preference for sustainable and eco-friendly products. Emerging trends predicted for this forecast period encompass the incorporation of wireless technology, emphasis on compact and lightweight designs, trendy designs, intelligent navigation and aid, along with the embrace of aerodynamic accessories.

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What Are the Critical Factors Driving Bicycle Accessories Market Development?
The anticipated rise in e-bike purchases is predicted to stimulate the expansion of the bicycle accessories market in the future. An electric bicycle is a bike equipped with an electric motor that aids in propulsion. Bicycle components, such as a helmet, battery, headlight, rear light, and alloy pedals, make the task of bicycle riding easier for cyclists. For example, a January 2024 report from Rize Bikes, a well-known Canadian e-bike manufacturer, estimated the U.S. e-bike market to be worth $800 million, with a forecasted value of $1.2 billion by 2025. Hence, the surge in e-bike sales is pushing the bicycle components market forward.

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How Does the Bicycle Accessories Market Break Down Across Major Segments?
The bicycle accessories market covered in this report is segmented -

1) By Product: Apparels, Components
2) Bicycle Type: Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes, Other Bicycle Types
3) By marketplace: Original Equipment Manufacturer (OEM), After market
4) By Sale Channel: Offline, Online

Subsegments:
1) By Apparel: Cycling Jerseys, Cycling Shorts, Gloves, Jackets, Socks, Helmets, Footwear
2) By Components: Bicycle Lights, Locks, Pumps, Fenders, Racks, Mudguards, Bottle Cages, Repair Kits, Bike Computers

What Are the Major Trends Transforming the Bicycle Accessories Industry?
Key players in the bicycle accessories market are engaging in strategic alliances for the production of eBikes and the development of electrically-driven two-wheeler systems. This form of strategic collaboration allows the participating companies to utilize each other's assets and strong points for mutual advantage and success. As an example, in August 2022, Porsche eBike Performance GmbH, a bicycle manufacturing firm based in Germany, teamed up with Ponooc Investment B.V., an independent venture capital firm from Netherlands. This alliance will be directed by a new management team and Porsche has expressed a high degree of optimism towards the e-bike sector. The ventures of Porsche in this area show a steady increase. Porsche eBike Performance GmbH will be responsible for creating and producing potent eBike drive systems under the Porsche brand name, alongside smaller drive systems from Fazua. Looking ahead, both these product categories will be made available to global e-bike manufacturers, with the newly created joint venture acting as a tech-savvy partner. The eBike will find the use of these electric drive systems, which will also be incorporated into other manufacturing company's products.

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Which Players Are Driving Innovation in the Bicycle Accessories Market?
Major companies operating in the bicycle accessories market include Continental AG, Garmin Ltd., Shimano Inc., Giant Manufacturing Co. Ltd., Trek Bicycle Corp., Fox Factory Inc., Accell Group N.V., Merida Industry Co. Ltd., Thule Group AB, ABUS August Bremicker Söhne KG, SRAM LLC, Specialized Bicycle Components Inc., DT Swiss, Campagnolo S.R.L, Samchuly Bicycle Co. Ltd., Scott Sports SA, Endura Ltd., Cannondale Bicycle Corporation, Mavic SAS, Eastman Industries Ltd., Blackburn Design, Sigma Sport, Selle Italia S.p.A., Avon Cycles Ltd., Park Tool Company, Lezyne USA Inc, BBB Cycling, Cateye Co. Ltd., Topeak Inc., Giro

Which Regions Are Driving Global Bicycle Accessories Market Expansion?
Asia-Pacific was the largest region in the bicycle accessories market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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