The global Bicycle Components and Accessories market is expected to reach US$ 33.1 billion by 2030, with an annual growth rate of more than 20%
Wilmington, Oct. 26, 2023 (GLOBE NEWSWIRE) — According to RationalStat’s most recent industry analysis, the Global Bicycle Components and Accessories Market value is US$ 21.3 billion in 2023 and is expected to rise at a strong CAGR of over 20% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
The many parts, attachments, and gear that cyclists use to improve the operation, safety, and performance of their bicycles are referred to as bicycle components and accessories. These components and accessories might range from necessary components like brakes and gears to optional extras such as lights, locks, and water bottle holders.
As riding remains a popular and practical alternative for people all over the world, the need for innovative and high-quality bicycle components and accessories is likely to rise.
According to a deep-dive market assessment by RationalStat, the global Bicycle Components and Accessories market has been analyzed on the basis of market segments, including product, bicycle type, sales channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global Bicycle Components and Accessories market covers market sizes on the basis of market value (US$/EUR Million) and volume (Thousand Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Bicycle Components and Accessories market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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GlobalBicycle Components and Accessories Market: Segmental and Market Share Analysis
On the basis of product, the component segment led the overall market in 2022, accounting for more than 60% of total revenue, and is expected to rise significantly throughout the forecast period.
Based on bicycle type, road bicycle segment accounted for the largest revenue share of 35% in 2022 due to increase in popularity of basic bicycles.
Report Synopsis
Report Metrics
Details
Base Year
2023
Forecast Period
2023-2030
Base Year Market Size
US$ 21.3 billion
Market Size Forecast
US$ 33.1 billion
Growth Rate
20%
Dominant Segment
Road Bicycles
Dominant Region
Asia Pacific
Key Market Drivers
Companies Profiled
Shimano Inc.
SRAM LLC
Campagnolo S.r.l.
Giant Manufacturing Co., Ltd.
Trek Bicycle Corporation
Specialized Bicycle Components, Inc.
Merida Industry Co., Ltd.
Fox Factory Holding Corp.
Accell Group N.V.
Thule Group AB
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Bicycle Components and Accessories market include,
In November 2022, Thousand, a manufacturer of antique and creative cycling helmets and safety equipment, launched Ride Shop, a digital shopping experience that offers discounts on the most often recommended and purchased safety gear.
Some of the prominent players and suppliers operating and contributing significantly to the global Bicycle Components and Accessories market growth include Shimano Inc., SRAM LLC, Campagnolo S.r.l., Giant Manufacturing Co., Ltd., Trek Bicycle Corporation, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd., Fox Factory Holding Corp., Accell Group N.V., and Thule Group AB, among others.
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RationalStat has segmented the global Bicycle Components and Accessoriesmarket based on product, bicycle type, sales channel, and region
Global Bicycle Components and AccessoriesMarket Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Product
Components
Brakes
Cranksets
Bottom Bracket
Casette
Chain
Wheel
Saddles
Front Hub
Free Hub
Dual Control Lever
Speed/Gear Shifter
Brake Lever
Derailleur
Rear Derailleur
Front Derailleur
Disc Brake Rotor
Pedal
Others
Bicycle Accessories
Helmets
Eyewear
Apparels
Gloves
Socks
Others
Lights
Footwear
Global Bicycle Components and AccessoriesMarket Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Bicycle Type
Road Bicycles
Leisure Bicycles
MTBs
E-bikes
Utility Bicycles
Others
Global Bicycle Components and AccessoriesMarket Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Sales Channel
Offline
Brand Stores
Local Retailers
Online
E-commerce Websites
Company-owned Websites
Global Bicycle Components and AccessoriesMarket Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Region
North America Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
Latin America Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
Brazil
Mexico
Rest of Latin America
Western Europe Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
Germany
UK
France
Spain
Italy
Benelux
Nordic
Rest of Western Europe
Eastern Europe Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
Russia
Poland
Hungary
Other CIS Countries
Rest of Eastern Europe
Asia Pacific Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
China
Japan
India
South Korea
Australia
ASEAN
Indonesia
Thailand
Philippines
Vietnam
Malaysia
Rest of ASEAN
Rest of Asia Pacific
Middle East & Africa Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
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Key Questions Answered in the Bicycle Components and AccessoriesReport:
What will be the market value of the global Bicycle Components and Accessories market by 2030?
What is the market size of the global Bicycle Components and Accessories market?
What are the market drivers of the global Bicycle Components and Accessories market?
What are the key trends in the global Bicycle Components and Accessories market?
Which is the leading region in the global Bicycle Components and Accessories market?
What are the major companies operating in the global Bicycle Components and Accessories market?
What are the market shares by key segments in the global Bicycle Components and Accessories market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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