Bicycle Components Market - Forecast(2021 - 2026)

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Overview

Bicycle Component Market is forecast to reach $9.4 billion by 2025, growing at a CAGR 6.1% from 2020 to 2025. The global demand for bicycle components is directly correlated with the rapid industrialization and introduction of new, extremely light but very strong materials. That has transformed the bicycle component manufacturing industry. New technology and advanced methodology used to manufacture such bicycle components have been increasingly applied in the manufacturing sector of sports and mountain bicycles. In addition, there has been an increase in the number of participants involved in cycle sports, and their participation is expected to continue in the coming years. Increasing the number of international cycle racing events in emerging countries such as China, India, etc. is expected to drive growth over the forecast period in the global bicycle component market.

Report Coverage

The report: “Bicycle Component Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of Bicycle Component Market. 
By Components: Derailleurs, Road Group Sets, Suspensions, Wheelsets, Gears, Brakes, Others
By Material: Continuous Fiber Composites, Discontinuous Fiber Composites and Metals
By Sales Channel: Specialty Bicycle Retailers, Discount Stores, Department Stores, Full-Line Sporting Goods Stores, Outdoor Specialty stores, Other Sales Channel
By Application: Mountain Bike, Hybrid Bike, Road Bike, City Bike, Electric Bike, Children Bike and Others
By Geography: North America, South America, Europe, APAC, RoW

Key Takeaways

  • The global demand for bicycle components is directly correlated with rapid industrialization and new, extremely light but very strong materials being introduced. That transformed the manufacturing of bicycle components.
  • The growing need to change gears in the automotive industry has led to a surge in demand for derailleurs.
  • Strong development in emerging-country economies, including rising employment rates, is also driving consumer spending capacity, which in turn acts as another factor driving growth in the bicycle components market.
  • Asia-Pacific is the fastest growing market region for bicycles on the planet. China, Japan, Australia, India and South Korea are the major contributing countries in the region. Furthermore, these countries have started to host numerous cycling tournaments, which in turn will increase the popularity and demand for sport bikes.

By Component – Segment Analysis

During the forecast period Derailleurs segment is expected to grow at a CAGR of 7.9%.  Derailleur gears are a variable-ratio transmission system that is commonly used on bicycles, consisting of a chain, multiple sprockets of various sizes and a mechanism for moving the chain from one sprocket to another. The growing need to change gears in the automotive industry has led to a surge in demand for derailleurs. The derailleurs segment is expected to represent the highest growth in revenues on the basis of component type. This is expected to boost the market growth eventually.

By Application - Segment Analysis 

The Hybrid Bike Segment is projected to grow during the forecast period at the highest CAGR. Bicycling offers a variety of physical and mental benefits and with increasing consumer acceptance of bicycles to enhance health activities, demand has increased significantly in the recent past. In addition to health and wellness, Hybrid Bike has been used for transportation and recreational activities, which in turn is expected to drive global market growth in bicycle components over the forecast period. In addition, cycling is frequently recommended as an aerobic activity and helps protect against numerous diseases such as stress, hypertension, obesity, heart attack, some cancers, depression, diabetes and arthritis. Cycling is also used for weight control, maintenance and reduction. In addition, increased traffic congestion combined with higher fuel prices are expected to drive market growth of hybrid bike in near future. Trek Bikes, a U.S.-based bike manufacturer, introduced 34 bicycle models in Indian Market in premium and super-premium segments across the categories of hybrid and mountain. Strong growth in economies, including rising employment rates, also drives consumer spending capacity, which in turn acts as another driving factor for growth in the market for bicycle components.

By Geography - Segment Analysis

APAC is expected to dominate the global Bicycle Component market with a share of more than 35.5%. Asia-Pacific is the fastest growing bicycle market region on the planet. The region's top contributing countries are China, Japan, Australia, India and South Korea. These countries have begun hosting numerous cycling tournaments which, in turn, will increase the popularity and demand for sports bicycles. In India, the automotive industry has a strong grip but has started to face problems, mainly in New Delhi, on the back of the region's rising air pollution, which has reached an uncontainable limit. Bicycles are used as an effective substitute for lowering pollution levels around the globe and have encouraged numerous government authorities. All these factors are directly driving the bicycle components market growth. Similarly, China has more electric & conventional bicycles than road-driving cars. Sales in the Bicycle Components Aftermarket in the Asian region are directly impacted by middle and low-income consumers.

Drivers – Bicycle Component Market

Increasing use of bicycle as part of fitness activities and fun

Bicycling offers various physical and mental benefits and with increasing consumer acceptance of bicycles to enhance health activities, demand has increased significantly in the recent past. In addition to health and wellness, bicycles have been used for transport and recreational activities, which are expected to drive global growth in bicycles and components over the forecast period. Cycling is often recommended as aerobic activity and helps protect against numerous diseases such as stress, high blood pressure, obesity, heart attack, some cancers, depression, diabetes and arthritis. Cycling is also used to control, maintain, and reduce weight. In addition, increased traffic congestion combined with higher fuel prices is expected to drive market growth.

Growing Preference for Green Transportation
Air pollution has contributed to the death of approximately 3.7 million people, according to a WHO report. Passenger vehicles and trucks are the main causes of air pollution as they produce significant amounts of carbon monoxide, nitrogen oxides and other pollutants. Fuel-driven vehicles are responsible for more than half of nitrogen oxides and carbon monoxides and a quarter of hydrocarbons in the air. The aftermarket bicycle components are driven by the collective use of both electric and conventional bicycles. APAC will be the largest end-user of e-bikes and the biggest consumer of environmentally friendly modes of transport. China has more electric & conventional bicycles than road-driving cars. Sales in the Bicycle Components Aftermarket in the Asian region are directly impacted by middle and low-income consumers. India, with a strong foothold in the automotive industry, has begun to face serious concerns, prominently in metropolitan cities. As a result, bicycles are rapidly emerging as an effective means of curbing pollution levels, receiving strong support from governments and other authorities. Bike sharing schemes can be implemented with any level of cycling in a city. However, they are often introduced in cities with low cycling levels to encourage cycling and to raise the cycling profile within the city. Chinese dockless bike-sharing models have also penetrated the European market since the summer of 2017. Its aim is to penetrate the global bike market and obsolete bike ownership. This is also expected to boost the market growth.

Challenges - Bicycle Component Market

Unsuitability for Travelling Long Distances to Hinder Demand for Bicycle Components

Transportation with bicycles is ideal and suitable for shorter distances as the human capacity to travel by cycle is limited. The energy to be used over longer distances for cycling is comparatively higher and therefore it becomes a difficult task. This is small to the average distance traveled per day compared to gasoline-powered vehicles. Furthermore, the speed of bicycles is limited, while automobiles go faster and the destination can be reached sooner. This is a key restraint for the bicycle components market. Increasing disposable income among consumers of the lower and middle class has empowered them to buy four wheelers and mopeds. 

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Bicycle Component Market. Bicycle Component Market is expected to be dominated by major companies such as Giant Manufacturing Co., Ltd., Currie Technologies, Dorel Industries Inc., Trek Bicycle Corporation, Atlas Cycles Limited, Marin Bikes, Accell Group N.V., Merida Industry Co. Ltd., and Avon Cycles Ltd. SRAM LLC, SHIMANO INC., Mavic (Amer Sports), Campagnolo S.r.l., Derby Cycle Corporation, SR Suntour.

Acquisitions/Technology Launches

  • In April 2019, Shimano, Inc. introduced the new lightweight “Discover Carbon Handlebar” equipping gravel riders with high-end options in the PRO Discover line.
  • In January 2019, Dorel Industries, Inc. acquired Hot Wheels and Circle Bikes, a U.K.-based company.
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1. Bicycle Components Market - Overview
        1.1 Definitions and Scope
2. Bicycle Components Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Bicycle Components Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Bicycle Components Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Bicycle Components Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Bicycle Components Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Bicycle Components Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Bicycle Components Market - By Component Type(Market Size -$Million / $Billion)
        8.1 Derailleurs
        8.2 Road Group Sets
        8.3 Suspensions
8.4 Wheelsets
8.5 Gears
8.6 Brakes
8.7 Others
9. Bicycle Components Market - By Sales Channel(Market Size -$Million / $Billion)
9.1 Specialty Bicycle Retailers
9.2 Discount Stores
9.3 Department Stores
9.4 Full-Line Sporting Goods Stores
9.5 Outdoor Specialty stores
9.6 Other Sales Channel
10. Bicycle Components - By Bicycle Type(Market Size -$Million / $Billion)
        10.1 Mountain Bike
        10.2 Hybrid/Cross
        10.3 Road/700C
10.4 Comfort
10.5 Youth
10.6 Cruiser
10.7 Recumbent/Tamdem
10.8 Electric
10.9 Folding
11. Bicycle Components- By Geography (Market Size -$Million / $Billion)
        11.1 Bicycle Components Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Bicycle Components- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Bicycle Components- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Bicycle Components - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Bicycle Components - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Bicycle Components Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Bicycle Components Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Bicycle Components Market - Key Company List by Country Premium
15. Bicycle Components Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Accell Group N V
        15.3 Atlas Cycle Inc
        15.4 Avon Cycle Ltd
        15.5 Campagnolo
        15.6 Cannondale Bicycle Corporation
        15.7 Currie Technology Inc
        15.8 Cycleurope Ab
        15.9 Dorel Industry Inc
        15.10 Giant Bicycle Inc
        15.11 Hero Cycle
        15.12 Merida
        15.13 Shimano, Inc
        15.14 Specialised Bicycle Component
        15.15 Sr Suntour, Inc
        15.16 Sram Corporation
        15.17 Company 16
        15.18 Company 17 & More
*Financials would be provided on a best efforts basis for private companies
16. Bicycle Components Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Bicycle Components Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Bicycle Components Market Size 2018
2 Canada Bicycle Components Market Share 2018
3 Brazil Bicycle Components Market Outlook 2019 - 2023
4 Mexico Bicycle Components Market Research 2018
5 Germany Bicycle Components Market Trends 2019 - 2023 
6 France Bicycle Components Market Growth 2019 - 2023 
7 UK Bicycle Components Market Demand 2019 - 2023 
8 Italy Bicycle Components Market Segmentation 2018
9 Russia Bicycle Components Market Analysis 2019 - 2023
10 China Bicycle Components Market Revenue 2019 - 2023
11 Japan Bicycle Components Market Volume 2019 - 2023
12 South Korea Bicycle Components Market Potential 2019 - 2023
13 India Bicycle Components Market Leaders 2018
14 Saudi Arabia Bicycle Components Market Forecast 2019 - 2023 
15 Kuwait Bicycle Components Market Value 2018

List of Figures

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