2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What External and Internal Drivers Are Contributing to the Growth of theBicycle Components Market?

The projected growth trajectory of the bicycle component market can be largely attributed to the increase in sales of electric bicycles. These are bicycles designed with electric motors to assist in propulsion. The growing preference for electric bicycles can be linked to their user-friendly nature, environmental advantages, and versatility in accommodating riders of diverse physical capabilities. Key e-bike features like motors, batteries, drive systems, and braking systems are instrumental in enriching the e-bike riding experience, making cycling a universally appealing activity. As per data from the Office of Energy Efficiency and Renewable Energy, a government agency in the US, the sale of e-bikes in the country touched 1.1 million units in 2022 as recorded in December 2023. The year 2021 witnessed a spectacular increase with sales figures more than doubling compared to 2020. As such, the bicycle components market is expected to benefit significantly from escalating electric bike sales.

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What is the Predicted Annual Growth Rate of theBicycle Components Market Impact Industry Trends by 2034?

The market size of bicycle parts has seen robust growth over the past few years. The market will expand from a size of $12.71 billion in 2024, surging to $13.69 billion in 2025. This represents a compound annual growth rate (CAGR) of 7.7%. This past growth can be linked to several factors. Rising urbanization, greater emphasis on health, the surge in the interest of cycling as a competitive sport, heightened environmental consciousness, extended bike-sharing schemes, increasing cost of fuels, and the growing appeal of cycling for leisure have all boosted this progress.

The market for bicycle components is anticipated to significantly expand in the upcoming years, reaching a size of $18.28 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. Factors contributing to such growth in the forecast period include heightened awareness about health and fitness, increasing urbanization and the demand for effective commuting methods, mounting eco-friendly concerns, e-bike’s growing attraction, developing cycling infrastructure, the shift in consumer preference towards high-performance and customizable parts, and worldwide expansion in bicycle tourism. In the projection period, major trends expected to surface include improved lightweight materials, implementation of electronic gear shifting systems, developments in aerodynamic design, integration of intelligent technology, and advancements in braking systems.

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Which Upcoming Market Trends and Innovations Are Set to Influence theBicycle Components Market’s Path Forward?

Major players in the bicycle components industry are prioritizing the development of advanced electronic shifting systems, such as wireless shifters, to improve the cycling experience by facilitating more accurate and efficient gear shifting. Wireless shifters, which are electronic parts, promote gear movement through electronic signals, swapping out the conventional mechanical cables for improved precision and functionality. For instance, Shimano Inc., an established cycling component manufacturer based in Japan, rolled out its 2×12-Speed GRX Di2 in May 2024. The GRX Di2 system comprises dual control levers crafted for ease and control, a rear derailleur for efficient chain supervision, and a front derailleur tailored for gravel, guaranteeing exact shifts. The system includes wireless shifters connected to wired derailleurs via a core battery, with the redesigned shifters offering enhanced ergonomics. When combined with the existing RX820 components, it ensures a dependable 2×12-speed gravel gearing performance.

Who Are the Dominant Market Players Pushing the Boundaries of theBicycle Components Market?

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.

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What Are the Core Segments of the Bicycle Components Market, and How Do They Contribute to Growth?

The bicycle components market covered in this report is segmented –

1) By Component: Frames, Saddles, Rims, Brakes, Pedals

2) By Bicycle: Mountain, Hybrid Or Cross, Road, Comfort, Youth, Cruiser, Electric

3) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket

Subsegments:

1) By Frames: Aluminum Frames, Carbon Fiber Frames, Steel Frames, Titanium Frames, Plastic Or Composite Frames

2) By Saddles: Gel Saddles, Foam Saddles, Leather Saddles, Padded Saddles, Racing Saddles, Comfort Saddles

3) By Rims: Alloy Rims, Carbon Fiber Rims, Stainless Steel Rims, Disc Brake-Compatible Rims, Tubeless Rims

4) By Brakes: Disc Brakes (Hydraulic, Mechanical), Rim Brakes (Caliper, V-Brakes), Drum Brakes, Coaster Brakes, Hydraulic Brakes

5) By Pedals: Clipless Pedals, Platform Pedals, Toe-Clip Pedals, Bmx Pedals, Mountain Bike Pedals, Road Bike Pedals

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What Regions Are Dominating the Bicycle Components Market Growth?

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.

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