Bicycle And Components Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global market for bicycles and their components is experiencing strong growth, largely driven by the rising popularity of competitive sports. The demand for sports bicycles is closely tied to advancements in industrialization and the introduction of new lightweight, yet durable, materials. These technological innovations have transformed bicycle manufacturing, leading to more efficient and longer-lasting products.

In particular, the sports and mountain biking sectors have embraced modern production techniques and cutting-edge technology, significantly improving the performance of bicycles. For instance, some bicycles now feature lightweight yet robust frames that have gained recognition in high-profile races, demonstrating their strength and reliability in challenging conditions. The introduction of these advanced models has fueled demand among professional athletes and cycling enthusiasts alike.

The rising appeal of cycling as a sport has been a major factor in the market's growth. The number of participants in competitive cycling events continues to rise, and this trend is expected to persist. In particular, international cycling events in emerging markets are boosting the demand for bicycles and components. Countries in regions like Asia, especially China and India, are increasingly hosting cycling competitions, driving growth in their respective local markets.

Shifting Consumer Preferences Towards E-Mobility Boosting Electric Bicycle Sales

Consumer preferences are evolving as more people turn to eco-friendly and sustainable transportation options, with electric bicycles gaining considerable popularity. The electric bicycle segment is expected to capture a significant portion of the market due to growing environmental awareness and the desire for greener mobility solutions. Electric bicycles are becoming a popular choice for both commuting and recreation because of their efficiency and convenience. As the shift towards e-mobility accelerates, the electric bicycle segment is projected to continue its steady growth.

Among different bicycle types, mountain bikes are seeing increasing demand thanks to their sturdy build and capability to handle tough terrains. This demand is being driven by the growing number of adventure sports enthusiasts and outdoor activity lovers. While hybrid bicycles hold a smaller market share, they are also gaining traction due to their versatility in both urban commuting and recreational use.

Additionally, rising disposable incomes in emerging economies are boosting the bicycle and components market. As economic conditions improve, consumers are increasingly able to afford high-quality bicycles and components, further expanding the market. Moreover, as employment rates improve in these regions, more people are purchasing bicycles for both commuting and leisure activities.

Low Manufacturing Costs and Rising Pollution Levels Promoting Bicycle Usage

The Asia Pacific region is emerging as a key player in the global bicycle and components market. Low manufacturing costs and a strong industrial base are drawing significant investment to the region. Many countries in the region are becoming hubs for bicycle production, with competitive manufacturing costs attracting both local and international manufacturers. The region's expanding industrial sectors, including oil, gas, construction, and automotive, are also contributing to the growth of the bicycle and components market.

In countries such as India, where pollution levels have reached critical levels, particularly in urban areas, bicycles are being promoted as a solution to reduce air pollution. Several government initiatives are in place to encourage the use of bicycles as a sustainable mode of transport, further supporting market growth. As global environmental concerns rise, bicycles are increasingly viewed as an eco-friendly alternative to motor vehicles, spurring demand for both traditional and electric bicycles.

Challenges to Long-Distance Bicycle Use

Despite the increasing popularity of bicycles, certain challenges continue to limit the market's growth. One key limitation is the unsuitability of bicycles for long-distance travel. While bicycles are ideal for short commutes, they require significant physical effort for longer distances, making them less practical for extended travel. Typically, individuals can only cover a limited number of miles per day on a bicycle, which is significantly smaller compared to motor vehicles.

Additionally, the relatively slower speed of bicycles compared to automobiles makes them less appealing to those who need to travel quickly or cover long distances. The growing affordability of motor vehicles, combined with rising disposable incomes, has led many consumers to opt for cars or mopeds for their daily commutes, posing a challenge to the bicycle and components market.

Regional Players' Growing Influence on Market Expansion

The global bicycle and components market is highly fragmented, with a significant share of the market held by smaller, regional players. In East and South Asia, many of these local companies hold a considerable portion of the market thanks to their deep regional knowledge and established distribution networks. While these companies may have limited global reach, their expertise in local markets allows them to compete effectively.

Larger manufacturers, known as Tier-I and Tier-II players, are focusing on expanding their product lines and boosting production capacity to meet growing demand. One of the key strategies employed by these players is introducing innovative new products. For instance, a major manufacturer recently launched a lightweight handlebar designed for gravel riders, which has become a high-end offering in their product portfolio. Such innovations are expected to further fuel market growth by meeting the evolving needs of cycling enthusiasts.

Analyst's Insights

The bicycle and components market is witnessing robust growth driven by several key factors. The rise in competitive sports participation, increasing demand for electric bicycles, and growing environmental awareness are all contributing to market expansion. Regions such as East Asia and Europe are leading in bicycle consumption, with East Asia dominating production and sales.

The market is characterized by the presence of a few large manufacturers, particularly in East Asia and Europe. The electric bicycle segment is expected to maintain its dominance, driven by the increasing demand for sustainable transportation solutions. The market will likely continue to see innovations in bicycle components, with manufacturers prioritizing performance and durability improvements.

Competitive Analysis

Key players in the global bicycle and components market include: * Shimano, Inc.

VELO
Brooks England SRL
Specialized Bicycle Components, Inc.
Speedplay Inc.
Accell Group N.V.
Samchuly Bicycle Co., Ltd.
Strider Sports International, Inc.
Neco Technology Industry Co. Ltd.
LOOK
Crankbrothers
Endura Ltd.
Raj Cycles India Private Limited
Eastman Industries Limited
SIDI
DT Swiss AG

Key Segments of the Global Bicycle and Components Market

The Fairfield Market Research (Fairfield Market Research) study divides the global bicycle and components market into the following segments:

By Product:

Bicycles
- Mountain
- Road
- Hybrid
- Youth
- Comfort
- Cruiser
- Electric
Components
- Saddles
- Pedals
- Rims
- Frames
- Brakes

By Region:

North America
Latin America
Europe
South Asia Pacific
East Asia
Middle East & Africa

1. Executive Summary

1.1. Global Bicycle And Components Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2019 - 2023

3.1. Global Bicycle And Components Production Output, by Region, Value (US$ Bn) and Volume (Units), 2019 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2019 - 2023

4.1. Global Average Price Analysis, by Product, US$ Per Unit, 2019 - 2023
4.2. Prominent Factor Affecting Bicycle And Components Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit

5. Global Bicycle And Components Market Outlook, 2019 - 2031

5.1. Global Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Bicycle
    - 5.1.1.1.1. Mountain
    - 5.1.1.1.2. Road
    - 5.1.1.1.3. Hybrid
    - 5.1.1.1.4. Youth
    - 5.1.1.1.5. Comfort
    - 5.1.1.1.6. Cruiser
    - 5.1.1.1.7. Electric
  - 5.1.1.2. Component
    - 5.1.1.2.1. Saddle
    - 5.1.1.2.2. Pedal
    - 5.1.1.2.3. Rim
    - 5.1.1.2.4. Frame
    - 5.1.1.2.5. Brake
5.2. Global Bicycle And Components Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. North America
  - 5.2.1.2. Europe
  - 5.2.1.3. Asia Pacific
  - 5.2.1.4. Latin America
  - 5.2.1.5. Middle East & Africa

6. North America Bicycle And Components Market Outlook, 2019 - 2031

6.1. North America Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Bicycle
    - 6.1.1.1.1. Mountain
    - 6.1.1.1.2. Road
    - 6.1.1.1.3. Hybrid
    - 6.1.1.1.4. Youth
    - 6.1.1.1.5. Comfort
    - 6.1.1.1.6. Cruiser
    - 6.1.1.1.7. Electric
  - 6.1.1.2. Component
    - 6.1.1.2.1. Saddle
    - 6.1.1.2.2. Pedal
    - 6.1.1.2.3. Rim
    - 6.1.1.2.4. Frame
    - 6.1.1.2.5. Brake
- 6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. North America Bicycle And Components Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. U.S. Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 6.2.1.2. Canada Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 6.2.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Bicycle And Components Market Outlook, 2019 - 2031

7.1. Europe Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Bicycle
    - 7.1.1.1.1. Mountain
    - 7.1.1.1.2. Road
    - 7.1.1.1.3. Hybrid
    - 7.1.1.1.4. Youth
    - 7.1.1.1.5. Comfort
    - 7.1.1.1.6. Cruiser
    - 7.1.1.1.7. Electric
  - 7.1.1.2. Component
    - 7.1.1.2.1. Saddle
    - 7.1.1.2.2. Pedal
    - 7.1.1.2.3. Rim
    - 7.1.1.2.4. Frame
    - 7.1.1.2.5. Brake
- 7.1.2. Attractiveness Analysis
7.2. Europe Bicycle And Components Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Germany Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.2. U.K. Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.3. France Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.4. Italy Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.5. Turkey Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.6. Russia Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 7.2.1.7. Rest of Europe Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Bicycle And Components Market Outlook, 2019 - 2031

8.1. Asia Pacific Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Bicycle
    - 8.1.1.1.1. Mountain
    - 8.1.1.1.2. Road
    - 8.1.1.1.3. Hybrid
    - 8.1.1.1.4. Youth
    - 8.1.1.1.5. Comfort
    - 8.1.1.1.6. Cruiser
    - 8.1.1.1.7. Electric
  - 8.1.1.2. Component
    - 8.1.1.2.1. Saddle
    - 8.1.1.2.2. Pedal
    - 8.1.1.2.3. Rim
    - 8.1.1.2.4. Frame
    - 8.1.1.2.5. Brake
- 8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Asia Pacific Bicycle And Components Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. China Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 8.2.1.2. Japan Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 8.2.1.3. South Korea Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 8.2.1.4. India Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 8.2.1.5. Southeast Asia Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 8.2.1.6. Rest of Asia Pacific Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 8.2.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Bicycle And Components Market Outlook, 2019 - 2031

9.1. Latin America Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Bicycle
    - 9.1.1.1.1. Mountain
    - 9.1.1.1.2. Road
    - 9.1.1.1.3. Hybrid
    - 9.1.1.1.4. Youth
    - 9.1.1.1.5. Comfort
    - 9.1.1.1.6. Cruiser
    - 9.1.1.1.7. Electric
  - 9.1.1.2. Component
    - 9.1.1.2.1. Saddle
    - 9.1.1.2.2. Pedal
    - 9.1.1.2.3. Rim
    - 9.1.1.2.4. Frame
    - 9.1.1.2.5. Brake
- 9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Latin America Bicycle And Components Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Brazil Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 9.2.1.2. Mexico Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 9.2.1.3. Argentina Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 9.2.1.4. Rest of Latin America Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 9.2.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Bicycle And Components Market Outlook, 2019 - 2031

10.1. Middle East & Africa Bicycle And Components Market Outlook, by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Bicycle
    - 10.1.1.1.1. Mountain
    - 10.1.1.1.2. Road
    - 10.1.1.1.3. Hybrid
    - 10.1.1.1.4. Youth
    - 10.1.1.1.5. Comfort
    - 10.1.1.1.6. Cruiser
    - 10.1.1.1.7. Electric
  - 10.1.1.2. Component
    - 10.1.1.2.1. Saddle
    - 10.1.1.2.2. Pedal
    - 10.1.1.2.3. Rim
    - 10.1.1.2.4. Frame
    - 10.1.1.2.5. Brake
- 10.1.2. BPS Analysis/Market Attractiveness Analysis
10.2. Middle East & Africa Bicycle And Components Market Outlook, by Country, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. GCC Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 10.2.1.2. South Africa Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 10.2.1.3. Egypt Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 10.2.1.4. Nigeria Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
  - 10.2.1.5. Rest of Middle East & Africa Bicycle And Components Market by Product, Value (US$ Bn) and Volume (Units), 2019 - 2031
- 10.2.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2023
11.2. Competitive Dashboard
11.3. Company Profiles

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations