Market Introduction: Key Takeaways
The global bicycle components and accessories market is expected to reach a value of US$ 20.0 billion by 2028, growing at a CAGR of 6.5% during the forecast period 2023-2028. The market’s growth can be attributed to factors such as rising consumer disposable income, urbanization, and increasing government initiatives promoting cycling infrastructure.
The global bicycle components and accessories market is a thriving industry driven by the growing popularity of cycling as a recreational activity, increasing awareness of health and fitness, and the adoption of bicycles as a sustainable mode of transportation. Bicycle components and accessories include various parts, such as frames, gears, brakes, pedals, saddles, helmets, lights, and locks, among others, that enhance the performance, safety, and comfort of bicycles.
Market Drivers and Trend Analysis
The bicycle components and accessories market is driven by a variety of factors including increasing health and fitness consciousness among consumers. Growing concerns about environmental sustainability are encouraging the adoption of bicycles as an eco-friendly mode of transportation is also driving the demand for bicycles and related components and accessories. Technological advancements in bicycle components, such as lightweight materials, advanced gears, and aerodynamic designs, are enhancing performance and attracting cycling enthusiasts.
E-commerce platforms and online sales channels have gained significant traction, providing convenience and a wide range of options to consumers. The rising popularity of electric bicycles (e-bikes) with advanced components and accessories is fueling bicycle components and accessories market growth.
Key Segmental Analysis
The bicycle components and accessories market can be segmented based on product type, including frames, drivetrain systems, wheels, brakes, saddles, pedals, helmets, lights, and others. Among these, the drivetrain systems segment holds the largest market share due to the high demand for gears, chains, and derailleurs that enable smooth and efficient bicycle operations.
Global and Regional Market Analysis – Based on Market Intelligence
In terms of regional analysis, North America and Europe dominate the global bicycle components and accessories market. These regions have a mature cycling culture, well-developed cycling infrastructure, and a significant consumer base. Asia Pacific bicycle components and accessories market is witnessing substantial growth due to the increasing popularity of cycling as a sport and the adoption of bicycles for daily commuting purposes.
Competition Overview: Market Structure and Leading Players
The global bicycle components and accessories market is highly competitive, with several leading market players operating in the industry. Some of the prominent market players in the global bicycle components and accessories market include Shimano Inc., SRAM LLC, Campagnolo S.r.l., Giant Manufacturing Co., Ltd., Trek Bicycle Corporation, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd., Fox Factory Holding Corp., Accell Group N.V., Thule Group AB among others.
These companies are focused on product innovation, strategic partnerships, and expansion into new markets to gain a competitive edge. Additionally, the bicycle components and accessories market is characterized by the presence of several small and medium-sized players offering specialized products and services.
Key Market Segmentation: Global Bicycle Components and Accessories Market
Rationalstat has segmented the global bicycle components and accessories market on the basis of product type, including frames, drivetrain systems, wheels, brakes, saddles, pedals, helmets, lights, sales channel, bicycle type, end user, and region.
- By Product
- Bicycle Components
- Bottom Bracket
- Front Hub
- Free Hub
- Dual Control Lever
- Speed/Gear Shifter
- Brake Lever
- Rear Derailleur
- Front Derailleur
- Disc Brake Rotor
- Bicycle Accessories
- Bicycle Components
- By Bicycle Type
- Road Bicycles
- Leisure Bicycles
- Utility Bicycles
- By Sales Channel
- Brand Stores
- Local Retailers
- E-commerce Websites
- Company-owned Websites
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Nordic Countries
- Rest of Western Europe
- Eastern Europe
- Czech Republic
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Thailand, Philippines, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
- RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
- We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
- Strong language proficiency and capability with coverage across more than 70 language areas.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs
Why Buy this Report?
The report is intended for service providers, manufacturers, industry stakeholders, government organizations, marketing departments, R&D professionals, insurance organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.