Global Bicycle Components Market 2025-2032: Valued at US$ 14.57 Billion in 2025, Projected to Reach US$ 22.49 Billion at 6.4 % CAGR - A Persistence Market Research Insight

The global bicycle components market is entering a strong growth phase underpinned by macro-mobility, fitness & recreation, and urban transport trends. According to Persistence Market Research, this market is projected to reach a valuation of US$ 14.57 billion in 2025 and expand to US$ 22.49 billion by 2032, representing a compound annual growth rate (CAGR) of 6.4% from 2025 to 2032. The phrase "bicycle components market" here covers the value of parts and sub-assemblies used in bicycles - such as drivetrains, brakes, wheels, and other functional components - rather than whole bicycle units.

Several key growth drivers are giving momentum: the rise of electric bicycles (e-bikes) which demand more advanced, high-value components; growing consumer demand for performance and lightweight parts; increasing aftermarket upgrades; and escalating focus on sustainable, non-motorised mobility solutions in urban centres. Within this context, one of the leading segments is the drivetrain systems category, which commands the largest share of revenue - driven by highly engineered cranksets, cassettes, and shifting systems. On the geography front, Europe and the Asia-Pacific region emerge as leading zones, with Asia reflecting strong manufacturing bases and increasing bicycle usage, while Europe benefits from mature cycling culture and premium component demand.

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Key Highlights from the Report

The bicycle components market is expected to grow from US$ 14.57 billion in 2025 to US$ 22.49 billion by 2032, at a CAGR of 6.4%.
Drivetrain systems represent the leading component category, with cranksets contributing nearly 40% of drivetrain value.
The e-bike sub-segment is acting as a major catalyst, creating demand for high-performance components (mid-drive motors, torque sensors, advanced braking systems).
Premiumisation of components (lightweight carbon, wireless shifting systems, digital integration) is lifting the average selling price and margins.
Asia-Pacific is emerging as a dominant geography for bicycle components, driven by manufacturing capacity, rising urban cycling and export orientation.
Supply-chain localisation, additive manufacturing (3D printed titanium or aluminium components) and strategic partnerships are reshaping competition and cost structures.

Market Segmentation

The bicycle components market can be analysed from multiple angles - for example by product type and by end-user / sales channel.

By product type: Components are segmented into categories such as drivetrain systems (gears, cassettes, cranksets, chains), braking systems (disc brakes, hydraulic, rim brakes), wheels and hubs, pedals and saddles, frames (though strictly frames border into bicycle structure), handlebars and forks, and other accessories. Among these, drivetrain systems lead in terms of revenue, reflecting both replacement and upgrade demand, especially from premium and performance-oriented bicycles. Braking systems and wheels are also significant sub-markets as improvements in safety, weight reduction and performance drive component innovation.

By end-user / channel: The market is also segmented into OEM (original equipment manufacturer) components used by bicycle manufacturers for new bikes, and the aftermarket channel for replacements, upgrades and customisation. The OEM side tends to dominate volume, but the aftermarket side offers higher growth potential as cycling enthusiasts increasingly seek specialised parts (for example wireless electronic shifting, custom carbon wheels) and as e-bikes mature and require component upgrades. Moreover, sales channels include direct-to-consumer online retail, traditional bike-shops and specialty component stores; trends such as e-commerce and online customisation are shifting the mix toward broader, global reach.

Regional Insights

In the Asia-Pacific region, growth is strong due to a combination of large scale bicycle manufacturing, increasing domestic consumption of bicycles and e-bikes, and rising exports of components. Countries like China, Taiwan and India host key manufacturing hubs for global brands, and are benefitting from shifts in global supply-chains and rising demand for performance and e-bike components.

In Europe and North America, the trend is driven by premium and performance segments, upgrading of existing bicycles, and strong cycling culture coupled with government policies promoting sustainable transport. These regions tend to adopt advanced components earlier (wireless shifting, carbon fibre wheelsets), thus lifting average values per component. Additionally, aftermarket customisation is more mature in these regions.

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Market Drivers

The global bicycle components market is driven by several robust forces.
Firstly, the growing adoption of e-bikes is a major driver. As e-bikes proliferate, they demand more advanced components: higher torque motors, integrated sensors, hydraulic disc brakes, stronger frames and wheels and precision drivetrains. This shifts demand from basic mechanical parts to higher-value, higher-tech components. The push for sustainable mobility in crowded urban environments is also driving replacement of motorised short-distance trips with bicycles, increasing component volumes and adoption of premium upgrades.

Secondly, consumer preferences are shifting toward high-performance and premium bicycles and components. Cycling for fitness and recreation is growing, and enthusiasts are willing to invest in lightweight materials (carbon, titanium), electronic shifting, power-meter-equipped components and other innovations. This elevates average selling prices and drives component innovation.

Market Restraints

Despite strong growth, the market faces some restraints.
For one, supply-chain challenges and raw-material cost inflation impact component manufacturers. Lightweight materials and high-precision manufacturing are expensive and vulnerable to fluctuations in aluminium, carbon fibre, and steel costs, which can compress margins or lead to higher retail prices. In addition, safety and infrastructure limitations in many emerging markets restrain growth; poor cycling infrastructure, regulatory gaps and safety concerns reduce cycling adoption and thus component demand in certain regions.

Another restraint is the fragmentation of the component market and increasing competition which can suppress pricing. While large players dominate key segments, many niche and emerging brands are entering the market, often forcing price erosion or requiring heavy investment in R&D to differentiate. Furthermore, the replacement cycle for many components (especially standard mechanical parts in commuter bikes) can be long, limiting aftermarket demand in lower-cost bicycle segments.

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Market Opportunities

There are rich opportunities in the bicycle components market.
An important one is the aftermarket upgrade and customisation segment. As more cycling enthusiasts invest in better bikes, the aftermarket demand for high-end components - wireless shifting systems, carbon fibre wheels, performance brakes - will grow. This is reinforced by the "upgrade not replace" trend and by the long life-cycle of modern bikes, meaning users increasingly spend on components rather than new bikes.

Another opportunity lies in emerging markets and the electrification of bicycles. In many developing countries there is still large pent-up demand for bicycles and components, especially as incomes rise and cycling infrastructure improves. Similarly, e-bike penetration in these markets remains low, offering component manufacturers the chance to introduce specialised e-bike components (motors, batteries, control systems). Also, localisation of manufacturing (closer to consumption points) and adoption of advanced manufacturing technologies (3D printing, additive manufacturing) provide cost-advantage opportunities to capture new segment share and drive component innovation.

The key players studied in the report include:

Key players operating in the global bicycle components market include:

• Shimano Inc.
• SRAM LLC
• Campagnolo S.r.l.
• Accell Group N.V.
• Giant Manufacturing Co. Ltd.
• Trek Bicycle Corporation
• Merida Industry Co., Ltd.
• DT Swiss AG
• Ritchey Design Inc.
• Fox Factory Holding Corp.
• Cane Creek Cycling Components
• Chris King Precision Components
• Vision (FSA - Full Speed Ahead)
• Hope Technology Ltd.
• Rotor Bike Components
• SR Suntour Inc.
• Magura GmbH
• Thomson Bike Products
• Zipp Speed Weaponry (SRAM subsidiary)
• ENVE Composites

Recent Developments

In June 2025, Shimano launched its Deore M6200 groupset bringing wireless electronic shifting down into more accessible price tiers, reflecting how premium technologies are migrating into broader segments.

In June 2025, SRAM unveiled updated Force and Rival AXS groupsets (2x12 road and 1x13 gravel/XPLR) focusing on improved brake modulation, ergonomics and lighter drive-trains, signalling intensifying competition and premiumisation in components.

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Frequently Asked Questions

What are the main factors influencing the bicycle components market 2025-2032?
Which companies are the major sources in this industry?
What are the market's opportunities, risks, and general structure?
Which of the top bicycle components market 2025-2032 companies compare in terms of sales, revenue, and prices?
How are market types and applications and deals, revenue, and value explored?

Future Opportunities and Growth Prospects

Looking ahead, the global bicycle components market is set to capitalise on multiple favourable trends. The forecast to 2032 - reaching US$ 22.49 billion - underscores sustained growth at 6.4% CAGR. As global urbanisation, sustainability concerns and mobility shifts continue, bicycles - especially high-performance and e-models - will gain stronger footholds across regions. For component manufacturers, success will increasingly rest on innovation (lighter materials, integration with digital systems), partnerships with bicycle OEMs, entry into emerging geographies, and servicing the growing aftermarket upgrade segment.

Companies positioned to invest in advanced manufacturing, global distribution, and brand-led premium components are likely to capture disproportionate value. At the same time, regional production hubs and supply-chain diversification will matter - especially given recent disruptions and rising cost pressures. For markets like India, Southeast Asia, Africa and Latin America, component providers that can offer cost-effective, locally tailored solutions - for both OEMs and aftermarket - can tap the large latent demand. In short, the bicycle components market is not just rising in volume, but shifting in value as components become smarter, lighter and more performance-oriented.

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