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 Bicycle Parts and Accessories Market experienced significant growth from 2018 to 2022, driven by the increasing popularity of cycling across the globe. During this period, innovations in bicycle technology, such as the rise of electric bikes and the advancement of cycling gear, fueled demand. Furthermore, a growing interest in sustainable and healthy modes of transport pushed more consumers towards bicycles, contributing to market expansion. As a result, the global market saw a surge in sales for bicycle components like tires, frames, handlebars, and accessories including helmets, locks, and storage solutions.
Looking ahead, the demand for bicycle parts and accessories from 2023 to 2033 is expected to continue its upward trajectory. While the market during 2018-2022 was heavily influenced by individual riders and recreational cycling, the next decade will witness an increase in commercial demand. Factors like urbanization, government policies promoting green transportation, and the popularity of bike-sharing schemes are expected to play a crucial role in the market dynamics. As e-bikes become more mainstream, there will also be a growing demand for specialized parts like batteries and charging stations. Moreover, the rise of cycling as an alternative for last-mile delivery and sustainable transportation solutions is expected to further boost market growth.
In terms of regional demand, North America and Europe were major contributors to the bicycle parts and accessories market during the 2018-2022 period, but Asia-Pacific is anticipated to see the fastest growth through 2033. As the cycling culture continues to spread in countries like China and India, along with the development of cycling infrastructure, these regions will experience significant growth in both the demand for bicycles and their components. Market players are expected to focus on product innovation, specifically with lightweight materials, aerodynamic designs, and advanced safety features, to meet the evolving needs of cyclists.
The market also faces challenges that could affect its trajectory, such as fluctuations in raw material costs, supply chain disruptions, and regulatory hurdles in different regions. However, manufacturers and retailers are adapting by focusing on sustainability, customization, and expanding their online presence to reach a wider audience. Innovations like smart cycling gear, wearables, and app integration will likely play a significant role in the bicycle parts and accessories market over the next decade.
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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
Application I
Application II
Application III
Application IV
Based on Types the Market is categorized into Below types that held the largest Bicycle Parts and Accessories market share In 2023.
Transmission Parts
Frame and Forks Parts
Wheel Parts
Steering Components
Others
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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