Global Bicycle Component Aftermarket Market, Component Type (Derailleurs, Road Groupsets, Suspensions, Wheel Sets, Brakes, Caliper Type, Gears, Others), Sales Channel (Specialty Bicycle Retailers, Discount Stores, Department Stores, Full-line Sporting Goods Stores, Outdoor Specialty Stores, Other Sales Channel), Bicycle Type (Mountain Bike, Hybrid/Cross, Road, Comfort, Youth, Cruiser, Recumbent/Tandem, Electric, Folding) - Industry Trends and Forecast to 2031.
Bicycle Component Aftermarket Market Analysis and Size
The increasing popularity of cycling with a high volume of traffic and resulting congestion, has coupled up with concerns for rider safety thus contributing to a surge in the adoption of bicycle accessories. Moreover, Growing popularity of bicycling as a leisure activity is expected to fuel the growth in the bicycle component market. Bicycles are expected to grow in popularity as a convenient mode of transportation for living a healthy and physically fit life, due to which the adoption of bicycle components is expected to grow steadily over the forecast period.
Data Bridge Market Research analyzes that the bicycle component aftermarket market was valued at USD 15.3 billion in 2023 and is expected to reach USD 26.4 billion by 2031, registering a CAGR of 7.1% during the forecast period of 2024-2031. “Comfort” segment continues to dominate the market as rising popularity of bicycling as a leisure activity for health imporvements is fueling the adoption rate among consumer. 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 includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption 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 to 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 Billion , Volumes in Units, Pricing in USD
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Segments Covered
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Component Type (Derailleurs, Road Groupsets, Suspensions, Wheel Sets, Brakes, Caliper Type, Gears, Others), Sales Channel (Specialty Bicycle Retailers, Discount Stores, Department Stores, Full-line Sporting Goods Stores, Outdoor Specialty Stores, Other Sales Channel), Bicycle Type (Mountain Bike, Hybrid/Cross, Road, Comfort, Youth, Cruiser, Recumbent/Tandem, Electric, Folding)
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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 Middle East and Africa
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Market Players Covered
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Dorel Industries Inc (Canada), Accell Group N.V. (Netherlands), Shimano Inc (Japan), SRAM LLC (U.S.), Hero Cycles Limited (India), Campagnolo S.R.L. (Italy), Merida Industry Co. Ltd. (Taiwan), Specialized Bicycle Components (U.S.), Rohloff AG (Germany), Giant Manufacturing Co. Ltd. (Taiwan), Avon Cycles Ltd. (India)
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Market Opportunities
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Market Definition
The bicycle component aftermarket refers to the replacement or upgrade parts and accessories for bicycles.
Global Bicycle Component Aftermarket Market Dynamics
Drivers
- Increase in The Demand for Bicycles
The surge in consumer demand for bicycles has led to a consequential rise in the bicycle components aftermarket market. With an increasing emphasis on health, sustainability, and alternative modes of transportation, more individuals are turning to cycling for recreation, fitness, and commuting. As a result, the demand for aftermarket bicycle components has gained momentum, driven by the desire of cyclists to customize, upgrade, and maintain their bikes.
- Increasing Disposable Income
The increasing disposable income among consumers has become a pivotal factor driving growth in the market. As individuals experience a boost in their financial capabilities, there is a growing inclination towards investing in hobbies and recreational activities. Cycling, with its blend of health benefits and eco-friendliness, has witnessed a surge in popularity. With more disposable income at their disposal, consumers are increasingly drawn to the idea of enhancing their cycling experience through aftermarket components.
Opportunity
- Upgrading Bicycles for Recreational Activities and Leisure Activity
As more individuals embrace cycling as a popular means of recreation and fitness, there is a parallel emphasis on ensuring the longevity and performance of their bikes. Cyclists, seeking to optimize their riding experience, are increasingly turning to aftermarket components for routine maintenance and performance upgrades. This trend is driven by a desire for personalization, improved functionality, and the satisfaction of owning a bike tailored to individual preferences.
Restraint/Challenge
- Surge in the Price of Raw Materials
The surge in the price of raw materials has emerged as a significant factor impacting the bicycle components aftermarket market. As the costs of essential materials such as metals, alloys, and composites experience an upward trend, manufacturers and suppliers within the aftermarket industry face increased production expenses. This price escalation often trickles down to consumers, influencing the overall pricing and affordability of aftermarket bicycle components.
This bicycle component aftermarket market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 bicycle component aftermarket market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In November 2022, Thousand, a company that manufactures vintage & innovative bicycle helmets and safety accessories, launched Ride Shop, a digital shopping experience that provides discounts on the most frequently recommended & purchased safety gears. The online bundle-building platform, a first in the cycling industry, was inspired by the direct feedback received from various customers interested in purchasing multiple safety accessories apart from helmets
- In August 2022, Mycle introduced a full line of accessories for its Mycle Cargo bike range. These accessories are not only compatible with Mycle's cargo bikes but also with other Mycle bikes. With the aid of these accessories, riders can configure their bikes to be people carriers, cargo movers, or a combination of the two
Global Bicycle Component Aftermarket Market Scope
The bicycle component aftermarket market is segmented on the basis of component type, sales channel, and bicycle type. The growth amongst these segments will help you analyse 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.
Component Type
- Derailleurs
- Road Groupsets
- Suspensions
- Wheel Sets
- Brakes
- Caliper Type
- Gears
- Others
Sales Channel
- Specialty Bicycle Retailers
- Discount Stores
- Department Stores
- Full-line Sporting Goods Stores
- Outdoor Specialty Stores
- Other Sales Channel
Bicycle Type
- Mountain Bike
- Hybrid/Cross
- Road
- Comfort
- Youth
- Cruiser
- Recumbent/Tandem
- Electric
- Folding
Global Bicycle Component Aftermarket Market Regional Analysis/Insights
The bicycle component aftermarket market is analyzed and market size insights and trends are provided by country, component type, sales channel, and bicycle type as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and rest of Middle East & Africa.
Asia Pacific is expected to dominate and be the fastest growing region in the market due to the region's robust cycling culture, widespread adoption of bicycles for commuting and recreation, and growing interest in high-performance cycling. The region's diverse consumer base, coupled with increasing disposable incomes, has propelled the demand for aftermarket components, positioning Asia Pacific as a key player in the bicycle aftermarket industry.
The country 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 like 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 Europe 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 country data.
Competitive Landscape and Global Bicycle Component Aftermarket Market Share Analysis
The bicycle component aftermarket market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the bicycle component aftermarket market.
Some of the major players operating in the bicycle component aftermarket market are:
- Dorel Industries Inc (Canada)
- Accell Group N.V. (Netherlands)
- Shimano Inc (Japan)
- SRAM LLC (U.S.)
- Hero Cycles Limited (India)
- Campagnolo S.R.L. (Italy)
- Merida Industry Co. Ltd. (Taiwan)
- Specialized Bicycle Components (U.S.)
- Rohloff AG (Germany)
- Giant Manufacturing Co. Ltd. (Taiwan)
- Avon Cycles Ltd. (India)
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