PUBLISHER: The Business Research Company | PRODUCT CODE: 1702921
PUBLISHER: The Business Research Company | PRODUCT CODE: 1702921
Bicycle components are the various parts and accessories that together comprise a bicycle, each fulfilling a specific function to ensure smooth operation, performance, comfort, and usability. Understanding the purpose and functionality of these components is crucial for selecting the right bike, maintaining it effectively, and improving the overall riding experience.
The primary components in the bicycle components market include frames, saddles, rims, brakes, and pedals. The bicycle frame serves as the fundamental structural element, forming the framework to which other components are attached. Bicycles come in various types such as mountain bikes, hybrid or cross bikes, road bikes, comfort bikes, youth bikes, cruisers, and electric bikes, which are distributed through different sales channels including original equipment manufacturers (OEMs) and aftermarket retailers.
The bicycle components market research report is one of a series of new reports from The Business Research Company that provides bicycle components market statistics, including the bicycle components industry global market size, regional shares, competitors with bicycle components market share, detailed bicycle components market segments, market trends, and opportunities, and any further data you may need to thrive in the bicycle components industry. These bicycle components market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The bicycle components market size has grown strongly in recent years. It will grow from $12.71 billion in 2024 to $13.69 billion in 2025 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increasing urbanization, increasing focus on health, increasing popularity of cycling as a sport, growth in environmental awareness, expansion of bike-sharing programs, increasing fuel prices, and increasing popularity of recreational cycling.
The bicycle components market size is expected to see strong growth in the next few years. It will grow to $18.28 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing health and fitness awareness, rising environmental concerns, increasing urbanization and the need for efficient commuting options, increasing e-bike popularity, expansion of cycling infrastructure, shifting consumer preferences towards customizable and high-performance parts, and expanding global bicycle tourism industry. Major trends in the forecast period include advancements in lightweight materials, integration of electronic shifting systems, advancements in aerodynamic designs, integration of smart technology, and advancements in braking system.
The growing sales of electric bicycles are expected to drive the growth of the bicycle component market moving forward. Electric bikes, which are equipped with electric motors that assist with propulsion, are becoming increasingly popular due to their convenience, environmental benefits, and ability to support riders with varying physical capabilities. The integration of specialized components, such as motors, batteries, drive systems, and braking systems, enhances the e-bike experience, making cycling more accessible and enjoyable for a broader range of riders. For example, in December 2023, the Office of Energy Efficiency and Renewable Energy, a US-based government agency, reported that e-bike sales in the United States reached 1.1 million units in 2022. This represented a significant increase from 2021, where sales more than doubled compared to 2020. As a result, the rising electric bicycle sales are expected to propel the growth of the bicycle components market.
Key players in the bicycle components market are focusing on technological advancements, particularly in electronic shifting systems such as wireless shifters, to improve gear changes and overall ride performance. Wireless shifters are electronic components that facilitate gear changes through electronic signals, offering greater precision and efficiency compared to traditional mechanical cables. For example, in May 2024, Shimano Inc. introduced the 2x12-Speed GRX Di2 system. This system includes dual control levers for comfort and control, a rear derailleur for optimal chain management, and a front derailleur designed for gravel terrain, ensuring precise gear shifts. The wireless shifters in this system are connected to wired derailleurs via a central battery, providing improved ergonomics and reliable 2x12-speed gravel gearing performance when combined with existing RX820 components.
In September 2024, Glory Wheel Enterprise Co. Ltd., a Taiwan-based manufacturer of bicycle components, acquired Spank Industries and Fratelli Industries for an undisclosed amount. This acquisition is designed to strengthen Glory Wheel's position in the global bicycle market and boost its competitive advantage in the premium bicycle accessories segment. Spank Industries and Fratelli Industries, also based in Taiwan, are renowned for their high-performance bike components and accessories.
Major companies operating in the bicycle components market are Trek Bicycle Corporation, SRAM LLC, Merida Industry Co. Ltd., Accell Group, Specialized Bicycle Components Inc., DT Swiss, Cycling Sports Group Inc., Campagnolo S.r.l., Hero Cycles, Mavic, Hayes Bicycle, Avon Cycle, Chris King Precision Components, Cane Creek Cycling Components, Rohloff AG, Look Cycle, Marin Bikes, Magura, Tektro Technology Corporation, PROLOGO, KMC Chain, Praxis Works, RockShox Inc.
North America was the largest region in the bicycle component market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bicycle components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bicycle components market consists of sales of suspension forks, rim brakes, disc brakes, chains, cassettes, flat pedals, racks, and lights. 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 Components Global Market Report 2025 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 components 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 components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bicycle components 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.