Us Bicycle Parts and Accessories Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Bicycle Parts and Accessories Market was valued at USD 25 Billion in 2022 and is projected to reach USD 40 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The U.S. bicycle parts and accessories market is experiencing significant growth, driven by increasing health consciousness and environmental awareness among consumers. In 2023, the market was valued at approximately $2.1 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2030. This surge reflects a broader trend toward sustainable transportation and active lifestyles.
One notable development in the industry is the shift toward domestic manufacturing. For instance, Guardian Bikes relocated production from China to the U.S. in 2022, aiming to reduce reliance on Chinese components. Despite challenges—90% of parts were initially sourced from China—the company plans to decrease this dependency to 20% by the end of next year. This move not only supports local economies but also addresses supply chain vulnerabilities.
Personal experience underscores this trend. As an avid cyclist, I've noticed a growing preference among peers for locally manufactured accessories. The quality and craftsmanship of domestically produced components often surpass their imported counterparts, enhancing both performance and durability.
The market's expansion is also fueled by the rising popularity of e-bikes. These electric-assisted bicycles offer an accessible option for those seeking to incorporate cycling into their daily routines without the physical strain of traditional biking. The convenience and efficiency of e-bikes have broadened the consumer base, encompassing a diverse demographic range.
However, the industry faces challenges, particularly in sourcing components. The dominance of Chinese manufacturing has made it difficult for U.S. companies to find domestic suppliers for certain parts. This reliance on foreign components can lead to supply chain disruptions, as evidenced during global events that impact international trade.
In response, some companies are investing in local production facilities. Guardian Bikes, for example, has established a factory in Indiana, producing up to 2,700 bikes daily. This initiative not only mitigates supply chain risks but also contributes to job creation and economic growth within the region.
From a consumer standpoint, there's a noticeable shift toward customization and personalization. Cyclists are increasingly seeking accessories that reflect their individual styles and preferences. This demand has led to a proliferation of niche markets catering to specific aesthetic and functional desires, from bespoke saddles to custom handlebar grips.
In conclusion, the U.S. bicycle parts and accessories market is poised for continued growth, driven by health trends, environmental concerns, and a shift toward domestic manufacturing. Companies that adapt to these dynamics, focusing on quality, sustainability, and consumer preferences, are likely to thrive in this evolving landscape.
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Shimano
SRAM
Fox Factory Holding
Campagnolo
HL CORP
GIANT
DT SWISS
Prowheel
MERIDA
Dorel Industries
Eastman Industries Limited
Colnago
Ralf Bohle
BÃœCHEL Group
RODI Industries
Magura
ROTOR Bike Components
Miranda Bike Parts
URSUS
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 Global Bicycle Parts and Accessories Market
Brakes
Transmission
Wheels and Tires
Frame and Forks
Helmets
Pads and Guards
Gloves
Visibility Gear
Cleaning Supplies
Repair Tools
Replacement Parts
Workstands
Jerseys
Shorts and Bibs
Outerwear
Base Layers
Bike Bags
Water Bottles and Cages
GPS and Navigation
Phone Accessories
Global (United States, Global 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 Global Bicycle Parts and Accessories 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. Global Bicycle Parts and Accessories Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Bicycle Parts and Accessories Market, By Type
6. Global Bicycle Parts and Accessories Market, By Application
7. Global Bicycle Parts and Accessories Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Bicycle Parts and Accessories Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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