Global Bicycle Alloy Chain Market, Type (Small Size Wheels, Medium Size Wheels, Large Size Wheels) and Application (Original Wheels, Replacement Wheels) - Industry Trends and Forecast to 2031.
Bicycle Alloy Chain Market Analysis and Size
The increase in concerns regarding the safety of bicycle riders across the globe is one of the major factors driving the growth of the bicycle alloy chain market. The high reliance on fossil fuels, such as petrol and diesel, in most vehicles for transportation is increasing fuel consumption, and the focus on reducing traffic and making roads safer for bicycle riders accelerates the market growth. Additionally, the increase in the number of companies investing in improving the designs for various parts of alloy chains such as rollers, pins, and derailleurs, as well as the high demand for more compatible and smoother chains, further influence the market growth. Furthermore, the considerable demand for more attuned and smoother chains extends profitable opportunities to the market players in the forecast period
Global bicycle alloy chain market was valued at USD 780 million in 2023 and is expected to reach USD 11,058.69 million by 2031, registering a CAGR of 39.30% during the forecast period of 2024-2031 The medium sized segment is anticipated to hold the largest market share during the forecast period due to the increasing usage of the medium-sized bicycle across the globe. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024-2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Small Size Wheels, Medium Size Wheels, Large Size Wheels) and Application (Original Wheels, Replacement Wheels
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Campagnolo (U.S.), Full Speed Ahead (U.S.), DT Swiss (U.S.), SHIMANO (U.S.), SRAM (U.S.)
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Market Opportunities
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Market Definition
A bicycle alloy chain refers to the types of material used in making the chain for bicycles, which are made up of a blend of different materials, such as steel alloys. A bicycle alloy chain transfers power from the pedals to the drive wheel of a bicycle, thus propelling it. Most bicycle chains are made from plain carbon or alloy steel, but some are nickel-plated to prevent rust or simply for aesthetics.
Bicycle Alloy Chain Market Dynamics
Drivers
- Increasing Use of Bicycles as Part of Fitness and Fun Activities
The rising sales and upsurge in the use of bicycles as part of fitness and fun activities is anticipated to boost the growth of the bicycle alloy chain market. Bicycles deliver many mental and physical benefits with rising consumer acceptance of bicycles to improve fitness and health activities. The increase in consumers opting for bicycling as a form of leisure is expected to boost the market's growth.
- Rising Public Bicycle Renting Programs
Bike-sharing programs have become more popular worldwide as an initiative to increase the use of cycling to reduce traffic congestion and minimize environmental pollution. These bicycles are available on rent therefore, consumers don’t need to purchase a new bicycle for use. The increasing initiative for bike sharing is increasing the bicycle demand, which are expected to boost the market's growth rate.
Opportunity
- Urbanization and Congestion
With urban areas growing, there is a rising demand for bicycles as an efficient, eco-friendly mode of transport, spurring the need for high-quality components. Bicycles are seen as a means to alleviate traffic congestion, reduce emissions, and promote healthier lifestyles, further propelling the market's growth. As a result, manufacturers and suppliers of bicycle alloy chains experience increased demand and innovation opportunities that further accelerate the market growth.
Restraints/Challenges
- High Competition in the Market
High competition can restrain the market by putting pressure on profit margins and limiting the pricing power of manufacturers and suppliers. Intense rivalry can lead to cost-cutting measures affecting product quality and innovation. Additionally, a crowded market can make it challenging for smaller companies to gain market share, hindering their growth prospects. Moreover, the need to continually invest in research and development to stay competitive can strain the financial resources of companies in the industry.
- Economic Downturns as a Barrier to Market
During recessions, consumers have set stricter priorities and have reduced their spending. As sales drop, businesses typically cut costs, lower prices, and postpone new investments. Economic recessions and downturns can decrease consumer spending on non-essential items such as bicycles and components, further affecting the market's growth.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Bicycle Alloy Chain Market Scope
The market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Small Size Wheels
- Medium Size Wheels
- Large Size Wheels
Application
- Original Wheels
- Replacement Wheels
Bicycle Alloy Chain Market Region Analysis/Insights
The market is segmented on the basis of type and application.
The countries covered in the report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates and is expected to witness the highest CAGR in the global bicycle alloy chain market because of its high adoption of innovative city initiatives, strong presence of major players in the market, and rising number of research activities in this region.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Bicycle Alloy Chain Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to market.
Some of the major players operating in the market are
- Campagnolo (U.S.)
- Full Speed Ahead (U.S.)
- DT Swiss (U.S.)
- SHIMANO (U.S.)
- SRAM (U.S.)
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