United States Bicycle Crankset Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.8 Billion by 2030, growing at a CAGR of 8.1% from 2024 to 2030.
The U.S. bicycle crankset market is experiencing significant transformations, driven by technological advancements, evolving consumer preferences, and a growing emphasis on sustainability. As a cycling enthusiast and industry observer, I've witnessed firsthand the dynamic changes shaping this market.
**Market Overview and Growth Drivers**
In 2024, the U.S. bicycle crankset market mirrored global trends, with single chainring cranksets capturing over 50% of the market share. This design's simplicity and reliability have made it a favorite among both entry-level and seasoned cyclists. The absence of a front derailleur reduces mechanical failures, offering smoother transitions and less maintenance. citeturn0search0
Several factors contribute to the market's growth:
Technological Innovations: The integration of advanced materials like carbon fiber and aluminum alloys has led to lighter and more durable cranksets, enhancing overall cycling performance. citeturn0search1
Rise of E-Bikes: The increasing popularity of electric bikes has spurred demand for specialized cranksets capable of handling higher torque, leading to innovations tailored for e-bike applications. citeturn0search1
Sustainability Focus: Manufacturers are adopting eco-friendly production methods and materials, aligning with the broader industry shift towards sustainability. citeturn0search1
**Challenges in Domestic Manufacturing**
Despite efforts to localize production, a significant portion of bicycle components, including cranksets, are still manufactured overseas. For instance, Guardian Bikes, after relocating assembly to Indiana, found that about 90% of parts remained sourced from China. citeturn0news12 This reliance poses challenges for companies aiming to offer American-made products and affects the competitiveness of domestic manufacturing.
**Leading Manufacturers and Market Competition**
The U.S. market is home to several prominent crankset manufacturers, including Shimano, SRAM, and Campagnolo. These companies continually innovate to meet the diverse needs of cyclists, from casual riders to professionals. The competition drives advancements in design, material quality, and performance, benefiting consumers with a wider range of high-quality options. citeturn0search4
**Sales Channels and Consumer Preferences**
While online shopping offers convenience, offline sales channels, particularly specialty bike shops, continue to dominate the market. In 2024, offline sales accounted for approximately 66% of the market share. These establishments provide customers with the opportunity to assess quality, fit, and compatibility firsthand, which is crucial for performance-oriented cyclists seeking personalized advice and services. citeturn0search0
**Looking Ahead**
The U.S. bicycle crankset market is poised for continued growth, influenced by technological advancements, evolving consumer preferences, and a concerted push towards sustainable practices. As a cyclist, it's exciting to witness these developments, and as an industry observer, it's clear that adaptability and innovation will be key for manufacturers navigating this dynamic landscape.
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Shimano
SRAM
Campagnolo
ROTOR Bike Components
Miranda Bike Parts
BÃœCHEL Group
Full Speed Ahead
Race Face
Cane Creek
Easton Cycling
Hope Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Bicycle Crankset Market
Road Bikes
Mountain Bikes
Hybrids
Electric Bikes
Touring Bikes
Aluminum
Carbon Fiber
Steel
Composite Materials
Titanium
Single Chainring
Double Chainring
Triple Chainring
Modular Cranksets
Fixed Cranksets
Competitive Cycling
Cruising
Commuting
Off-Roading
Freestyle and Tricks
High-End Brands
Mid-Range Brands
Budget Brands
OEM Manufacturers
Custom/Aftermarket Brands
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Bicycle Crankset Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Bicycle Crankset Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Bicycle Crankset Market, By Type
6. US Bicycle Crankset Market, By Application
7. US Bicycle Crankset Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Bicycle Crankset Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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