PUBLISHER: The Business Research Company | PRODUCT CODE: 1539627
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539627
A bicycle chain serves as a vital component in the drivetrain system of bicycles. Comprising interconnected metal segments, it facilitates the transfer of power generated from pedaling, thereby propelling the bicycle forward. Its primary function is to transmit the pedaling force exerted on the chainring (connected to the pedals) to the rear sprockets, which are part of the rear wheel hub.
Bicycle chains are available in various types such as 16-speed, 8-speed, and 10-speed, each tailored to different gear systems. These chains are designed to withstand the typical torque and stress levels associated with their respective setups, ensuring seamless gear shifting and durability. They are manufactured using materials such as carbon steel, alloy steel, and nickel-plated variants, catering to diverse bicycle types including road bikes, mountain bikes, hybrids, commuter bikes, electric bikes, and e-cargo bikes. Sales channels typically encompass first-fit installations and replacement markets.
The bicycle chain market research report is one of a series of new reports from the business research company that provides bicycle chain market statistics, including bicycle chain industry global market size, regional shares, competitors with an bicycle chain market share, detailed bicycle chain market segments, market trends and opportunities, and any further data you may need to thrive in the bicycle chain industry. This bicycle chain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bicycle chain market size has grown strongly in recent years. It will grow from $6.97 billion in 2023 to $7.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The increase in urbanization, coupled with the need for efficient transportation, rising awareness of health benefits, government initiatives supporting cycling, development of cycling infrastructure, growth in bicycle-sharing programs, and high fuel prices driving demand for cost-effective transportation, contributed to the growth during the historic period.
The bicycle chain market size is expected to see strong growth in the next few years. It will grow to $9.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Continued urbanization and city congestion, advancements in electric bicycles (e-bikes), increased investments in cycling infrastructure, rising environmental consciousness, efforts towards sustainability, and innovations in lightweight and durable materials are expected to drive growth in the forecast period. Key trends include the rising adoption of e-bikes, growing demand for connected and smart bicycles, expansion of cycling tourism and events, increasing availability of bike-sharing and micro-mobility options, and technological advancements in lightweight and durable materials.
The increasing number of cycling enthusiasts is expected to drive growth in the drug-eluting stent market. Cycling enthusiasts are individuals passionate about cycling as a recreational activity or sport. Cycling provides excellent cardiovascular exercise, improves heart health, builds muscle strength, and enhances endurance. Moreover, bicycles are more cost-effective to buy and maintain compared to cars. The bicycle chain facilitates energy transfer from pedaling to propel the bicycle forward by engaging with chainrings and rear cassette or freewheel mechanisms. In June 2023, the Outdoor Industry Association reported a 6.5% increase in outdoor cycling participation to 54.7 million enthusiasts from 2021 to 2022, with BMX bicycling showing an 8.5% annual growth rate. Consequently, the expanding cycling enthusiast base is poised to boost the bicycle chain market.
Leading companies in the bicycle chain market specialize in customizing and personalizing components, enhancing performance, and broadening market reach. A chain sprocket kit includes components such as chainrings, cogs, or a complete cassette tailored for electric bicycles/bicycles. In December 2023, L. G. Balakrishnan & Bros. Ltd., an Indian automotive component manufacturer, introduced the industry's first electric bike chain sprocket kit exclusively for Tork Motors, a significant advancement in electric mobility solutions. They also launched specialized chain sprocket kits for the Ultraviolette F77, addressing the specific requirements of high-performance electric motorcycles. Additionally, the company expanded its product range with new poly PU rubber dampers, enriching its automotive components portfolio.
In November 2021, GASGAS, a Spain-based manufacturer of high-performance off-road motorcycles and electric bicycles, forged a partnership with TAYA Chain Co. Ltd. This collaboration aims to integrate TAYA's expertise in high-performance bicycle chains with GASGAS's innovative electric bike technology. The goal is to enhance the durability, efficiency, and overall riding experience of GASGAS e-bikes by developing advanced chain solutions. By meeting the rigorous demands of electric bike riders, including reliable performance, minimal maintenance, and superior power transmission, this partnership aims to set new standards in e-bike components. TAYA Chain Co. Ltd., headquartered in Taiwan, specializes in manufacturing bike chains renowned for their quality and performance.
Major companies operating in the bicycle chain market are Shimano Inc, Tsubakimoto Chain Co. , SRAM LLC, Renold PLC, KettenWulf Betriebs GmbH, Campagnolo Srl, Sedis, Wippermann GmbH, SunRace Sturmey-Archer Inc, Taya Chain Co. Ltd., Full Speed Ahead (FSA), Sugino Machine Limited, BBB Cycling, Miche S.p.A., Regina Chain, CeramicSpeed Sport A/S, KMC Chain Industrial Co Ltd., Izumi Chain Mfg Co Ltd, Kettenfabrik Unna AG, Atlas Engineering Works (Atlas Chains), Token Products USA, HKK Chain, OMO Bikes, VisionTech
North America was the largest region in the bicycle chain market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bicycle chain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bicycle chain market consists of sales of track chains, gear hubs, chainring, crankset, shifters and derailleur chains. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bicycle Chain Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bicycle chain market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bicycle chain ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bicycle chain market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.