Bicycle Chain Market: Current Analysis and Forecast (2024-2032)

Global Bicycle chain market has witnessed a stable growth in the historical years. Bicycle chains are one of the crucial components which help in forward movement and help increase or decrease the force through gears and ease of handling. With the stable demand for bicycles for recreational and leisure activities, customers' inclination towards sustainable mobility, health consciousness, etc., the demand for bicycles have exhibited a notable growth. Additionally, the rapid surge in the demand for bicycles after the COVID-19 pandemic is another factor that has increased the demand for bicycle chains.

The Bicycle Chain Market is expected to grow at a significant rate of around 4.44% during the forecast period (2024-2032). One of the key factors that has increased the demand for bicycle chains is the rising demand for bicycles in recent years. Many of the companies have reported an increase in the demand for bicycle in the subsequent years. For instance, in 2023, according to the Bureau of Transportation Statistics, total demand for bicycles and accessories grew by 620% from March 2020 to March 2023 in the US. Total docked bikeshare ridership on six of the largest systems increased 42% from March 2020 to March 2023.

With the increased demand for bicycles across the globe as well as the focus on sustainable transportation by the customers the demand for bicycles chains are anticipated to rise. Additionally, the demand surge in the leading economies as the US, China, etc., for the traditional bicycles and electric bicycles for commute the bicycle chain market would also experience a surge.

Additionally, the demand for derailleur-based bicycles (gear-based) bicycles among the young-age population is also considerable. Additionally, the integration of smart technologies in the bicycles would also lure a sizable number of customers to opt for the bicycles further promoting the demand for the bicycle chains during 2024-2032.

Based on Chain Type the global bicycle chain market has been bifurcated into one-speed chain and derailleur chain. Of these derailleur chains have grabbed significantly market share. Some of the key factors that have attributed to the higher share of segment are ease of changing gears further improving the effort made on the paddles. Additionally, this type of chains are suited for easy shifting of gears which help in adjusting the power and torque due to which the rider can easily adjust the speed. Various other benefits such as optimal power transfer, ease of replacement and upgrades, improved gear ratios, seamless gear shifting, etc. are also prominent due to which the segment is further anticipated to hold its position.

Based on the material type, the market is segmented into Carbon Steel, Alloy Steel and Nickel Plated. Of these the Alloy Steel segment has held the major market share due to its low-cost and cost-to-performance. However, other segments as carbon steel and nickel plated chains are exhibiting a rapid growth in premium category as they show better abrasion and water-proof properties ideal for bicycle operations in mountain and muddy terrains.

For a better understanding of the market adoption of the Bicycle Chain market, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America holds a significant share of the Bicycle Chain market and is anticipated to maintain a steady growth rate over the forecast period. North America has a cycling industry, and it is looking forward to comprehensively supporting research & development around boating challenges and their potential technological solutions.

Some of the major players operating in the market include Shimano Inc., KMC Group, SRAM LLC, Izumi Chain Mfg. Co. Ltd., Taya Chain Co. Ltd., Renold PLC, Oriental Chain Mfg. Ltd., Wippermann, SunRace Sturmey-Archer Inc., RK South Asia Sdn. BHD.