Bicycle Components Market Expected to Achieve 6.7% CAGR by 2029: Growth Forecast Insights

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How Large Will the Bicycle Components Market Size By 2025?
In recent years, there has been a remarkable increase in the size of the bicycle components market. It is projected to rise from $12.71 billion in 2024 to $13.53 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The substantial growth noted in the historical period is due to various factors including heightened urbanization, stronger focus on health, growing recognition of cycling as a sport, amplified environmental awareness, development of bike-sharing initiatives, rising fuel costs, and increasing appeal of casual cycling.

How Big Is the Bicycle Components Market Size Expected to Grow by 2029?
The bicycle components market is projected to experience significant expansion in the coming years, with its value predicted to reach $17.53 billion in 2029 and a CAGR of 6.7%. The projected growth during the forecast period can be connected to factors such as rising health consciousness, growing environmental concerns, escalating levels of urbanization, the demand for effective travel alternatives, the surging prominence of e-bikes, improvements in cycling infrastructure, a shift in consumer trends towards more personalized and high-performance components, and the burgeoning worldwide bicycle tourism sector. Noteworthy trends during the forecast period encompass progress in lightweight materials, the inclusion of electronic shifting systems, the development of aerodynamic designs, the integration of smart technology into bicycles, and improvements in braking systems.

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Which Key Market Drivers Powering Bicycle Components Market Expansion and Growth?
Anticipated advancements in the bicycle component market are linked to the escalating sales of electric bicycles. Electric bicycles, which are designed with motors for propulsion assistance, are gaining fame due to their ease of use, environmental benefits, and potential to accommodate riders of differing physical capabilities. Enhancing the e-bike experience are specialized components such as motors, batteries, drive and braking systems, which make cycling accessible and enjoyable for a broader audience. The Office of Energy Efficiency and Renewable Energy, a US government agency, reported in December 2023 that e-bike sales in the United States hit 1.1 million units in 2022. Impressive growth was also observed in 2021, where sales more than doubled from 2020, indicating that the upsurge in electric bicycle sales will stimulate the bicycle components market.

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Which Fast-Growing Trends Are Poised to Disrupt the Bicycle Components Market?
The bicycle components market's key players are emphasizing innovations in electronic shifting systems, like wireless shifters, to augment the cyclist's experience by offering more accurate and efficient gear modifications. These wireless shifters are electronic parts that facilitate gear adjustments through electronic signals superseding the old mechanical cables for improved precision and operation. For example, Shimano Inc., a company based in Japan that manufactures cycling components, debuted the 2x12-Speed GRX Di2 in May 2024. The GRX Di2 system includes convenience and control-oriented dual control levers, a superior chain managing rear derailleur, and a front derailleur that's optimized for gravel to guarantee precise shifting. It's equipped with wireless shifters that connect to wired derailleurs via a central battery, with the latest shifters providing enhanced ergonomics. When paired with RX820 components, the system ensures reliable 2x12-speed gravel gearing performance.

What Are the Emerging Segments in the Bicycle Components Market?
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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Who Are the Global Leaders 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.

Which are the Top Profitable Regional Markets for the Bicycle Components Industry?
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.

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