Global Bicycle Parts and Accessories
Market Report
2024
The Global bicycle parts and accessories market size is USD 12.3 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 8.20% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global bicycle parts and accessories market size is USD 12.3 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 8.20% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 12.3 Billion |
Global Bicycle Parts and Accessories Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.2% |
North America Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 3.69 Billion |
Europe Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 3.44 Billion |
Asia-Pacific Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 4.31 |
South America Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 0.62 Billion |
Middle East and Africa Bicycle Parts and Accessories Market Sales Revenue 2023 | $ 0.25 Billion |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Bicycle Parts and Accessories Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Bicycle components refer to the parts and accessories of a bicycle's structure and functionality. These components include essential elements like frames, wheels, tires, brakes, gears, pedals, and handlebars, among others. Growth is fueled by increasing the use of bicycles as part of fitness and fun activities and rising public bicycle renting programs.
(Source:www.cxmagazine.com/coefficient-cycling-wave-handlebar-gravel-carbon-review/18)
One key driver propelling the bicycle parts and accessories market is the rapid emergence of electric bicycles (e-bikes) and continuous technological advancements. E-bikes have gained significant popularity due to their eco-friendly nature and the ability to cover longer distances effortlessly. This has spurred demand for advanced parts and accessories, such as powerful batteries, efficient motors, and innovative navigation systems, driving growth in the market. The ongoing technological innovations in materials, design, and connectivity further contribute to the overall dynamism and competitiveness of the Bicycle Parts and Accessories sector.
In January 2019, Dorel Industries, Inc. is U.K. based company, this company has acquired Circle Bikes and Hot Wheels.
(Source:www.bicycleretailer.com/north-america/2009/10/01/dorel-acquires-uk-distributor)
A crucial driver is the growing emphasis on cycling-friendly urban infrastructure and urban planning initiatives. Cities worldwide are recognizing the benefits of cycling for reducing traffic congestion, lowering emissions, and promoting a healthier lifestyle. As a result, there is a heightened focus on developing cycling lanes, bike-sharing programs, and secure parking facilities. This shift in urban planning fosters a conducive environment for cycling, driving the demand for high-quality Bicycle Parts and Accessories to enhance safety, comfort, and overall riding experience. The alignment of market dynamics with urban planning strategies contributes significantly to market expansion.
In 2019, Belgian firm Cowboy launched an innovative e-bicycle comprising features such as road-style geometry, internal cabling, a miniature removable power pack, and others. Moreover, unlike other e-bicycles, cowboy e-bicycle has no power button, no throttle, and no gears.
One key restraint affecting the Bicycle Parts and Accessories market is the vulnerability to supply chain disruptions and raw material shortages. The global nature of the bicycle industry makes it susceptible to geopolitical tensions, natural disasters, and unexpected events like the COVID-19 pandemic. Such disruptions can lead to delays in manufacturing processes and shortage of key components, impacting the overall production and availability of parts and accessories. The interconnected nature of the supply chain highlights the need for robust risk management strategies and diversification to mitigate the impact of unforeseen challenges.
The COVID-19 pandemic significantly impacted the bicycle parts and accessories market, leading to both challenges and opportunities. The global disruptions in supply chains, manufacturing, and distribution channels created hurdles for the industry. Lockdowns and restrictions hampered production and slowed down demand, particularly in the initial phases of the pandemic. However, as people sought alternative transportation and outdoor activities, there was a surge in interest in cycling. This shift in consumer behavior towards more sustainable and health-conscious choices provided a unique opportunity for the Bicycle Parts and Accessories market. The industry adapted by emphasizing e-commerce, virtual engagement, and promoting products tailored to the evolving needs of a changing market, showcasing resilience and adaptability in the face of unprecedented challenges.
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The dynamic and competitive landscape unfolds. Major players engage in a relentless pursuit of innovation, quality, and customer-centric strategies to secure their positions. Key market drivers include technological advancements, a surge in online platforms, and a focus on sustainability.
Top Companies Market Share in Bicycle Parts and Accessories Industry: (In no particular order of Rank)
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Global Bicycle Parts and Accessories Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bicycle Parts and Accessories Industry growth. Bicycle Parts and Accessories market has been segmented with the help of its Type, Application , and others. Bicycle Parts and Accessories market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the dominant category is Transmission Parts. This segment encompasses crucial components like chains, derailleurs, cassettes, and cranksets, which are integral to the smooth functioning and efficiency of a bicycle's gear system. Transmission parts play a central role in determining the overall performance and ride quality, making them a priority for cyclists seeking to enhance or customize their bikes. The constant demand for high-quality and advanced transmission parts positions this category as a dominant force in the market, with manufacturers focusing on innovations and advancements to meet the evolving needs of cyclists.
The fastest-growing category in the Bicycle Parts and Accessories market is Wheel Parts. This segment includes various components like rims, spokes, and hubs that are essential for the structural integrity and performance of a bicycle's wheels. With the growing popularity of cycling as a recreational and fitness activity, there is an increasing demand for lightweight, durable, and aerodynamic wheel components. Technological advancements, such as tubeless tire systems and advancements in materials, are driving the growth of the wheel parts category. The emphasis on enhancing the cycling experience and performance is propelling the rapid expansion of this segment in the market.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Bicycle Parts and Accessories Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the dominant category is offline retail channels. Traditional brick-and-mortar stores play a pivotal role in catering to a wide consumer base, offering a hands-on shopping experience where customers can physically inspect and test the products before making a purchase. These offline channels serve as crucial touch points for customers seeking immediate access to bicycle parts and accessories, especially in regions where a robust physical retail infrastructure exists. The trust and reliability associated with in-person transactions contribute to the dominance of offline retail channels in the market.
The fastest-growing category in the bicycle parts and accessories market is online retail channels. The digital transformation and the rise of e-commerce platforms have significantly impacted consumer behavior. Online channels provide the convenience of browsing, comparing, and purchasing products from the comfort of one's home. The rapid growth of online retail is fuelled by factors such as the availability of a vast product range, competitive pricing, and the ease of doorstep delivery. With the increasing preference for online shopping, especially among tech-savvy consumers, this category is experiencing remarkable growth, presenting exciting opportunities for market players to explore and expand their digital presence.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Bicycle Parts and Accessories market report 2024 Edition by contacting our team.
According to Cognitive Market Research,the Asia-Pacific region emerges as the cornerstone of the Bicycle Parts and Accessories market, boasting a substantial 35% market share and an impressive market size of 4.31 USD Billion in 2023. This dominance is rooted in a comprehensive regional overview, encompassing the burgeoning cycling culture, rising urbanization, and a growing awareness of environmental sustainability. A detailed segment analysis unravels the diverse market landscape, spanning transmission parts, frame and forks parts, wheel parts, steering components, and more. The sheer size and influence of the Asia-Pacific market underline its pivotal role in steering the global bicycle accessories industry. In conclusion, Asia-Pacific stands as a powerhouse, driving both market share and overall market size, defining the trajectory of the Bicycle Parts and Accessories market in 2023.
North America takes the lead as the fastest-growing region in the Bicycle Parts and Accessories market, commanding an impressive 30% market share and a substantial market size of 3.69 USD Billion in 2023. This regional dominance is underpinned by a comprehensive overview that highlights North America's robust cycling culture, increased health consciousness, and a burgeoning interest in outdoor activities. A closer examination of market segments reveals a diverse landscape, encompassing transmission parts, frame and forks parts, wheel parts, steering components, and more. North America's inclination toward premium and high-performance bicycle components propels its market ascendancy. In conclusion, the region's significant market share and substantial market size underscore North America as a pivotal force driving the growth trajectory of the Bicycle Parts and Accessories market in 2023.
The current report Scope analyzes Bicycle Parts and Accessories Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research,North America takes the lead as the fastest-growing region in the Bicycle Parts and Accessories market, commanding an impressive 30% market share and a substantial market size of 3.69 USD Billion in 2023. This regional dominance is underpinned by a comprehensive overview that highlights North America's robust cycling culture, increased health consciousness, and a burgeoning interest in outdoor activities. A closer examination of market segments reveals a diverse landscape, encompassing transmission parts, frame and forks parts, wheel parts, steering components, and more. North America's inclination toward premium and high-performance bicycle components propels its market ascendancy. In conclusion, the region's significant market share and substantial market size underscore North America as a pivotal force driving the growth trajectory of the Bicycle Parts and Accessories market in 2023.
According to Cognitive Market Research Europe emerges as a pivotal region, commanding a 28% market share and boasting a substantial market size of USD 3.44 billion in 2023. This robust performance is underpinned by a comprehensive market overview, encompassing the latest technological advancements, consumer trends, and regulatory landscapes. Within this region, a detailed segmentation analysis reveals a diverse array of offerings, including transmission parts, frame and forks parts, wheel parts, steering components, and more, catering to the varied needs of consumers. As Europe continues to lead in market dynamics, the strategic regional analysis underscores the significance of factors driving growth. In conclusion, the European market stands as a testament to innovation, adaptability, and consumer satisfaction, shaping the landscape of the global Bicycle Parts and Accessories industry.
According to Cognitive Market Research, the Asia-Pacific region emerges as the cornerstone of the Bicycle Parts and Accessories market, boasting a substantial 35% market share and an impressive market size of 4.31 USD Billion in 2023. This dominance is rooted in a comprehensive regional overview, encompassing the burgeoning cycling culture, rising urbanization, and a growing awareness of environmental sustainability. A detailed segment analysis unravels the diverse market landscape, spanning transmission parts, frame and forks parts, wheel parts, steering components, and more. The sheer size and influence of the Asia-Pacific market underline its pivotal role in steering the global bicycle accessories industry. In conclusion, Asia-Pacific stands as a powerhouse, driving both market share and overall market size, defining the trajectory of the Bicycle Parts and Accessories market in 2023.
According to Cognitive Market Research,Latin America emerges as a region of significance, securing a 5% market share and contributing to a market size of USD 0.62 billion in 2023. A comprehensive overview delves into the unique market dynamics, capturing the essence of technological trends, consumer preferences, and regulatory nuances shaping the industry. Through meticulous segmentation analysis, the region showcases a diverse array of offerings, including transmission parts, frame and forks parts, wheel parts, steering components, and more. This strategic regional analysis unveils the driving forces behind market growth, shedding light on Latin America's evolving role in the global landscape. In conclusion, Latin America stands as a distinct market player, embodying resilience and potential within the evolving Bicycle Parts and Accessories sector.
According to Cognitive Market Research,the Middle East and Africa carve a niche, contributing a 2.00% market share and anchoring a market size of USD 0.25 billion in 2023. An insightful overview unfolds the distinct market landscape, encompassing key factors that define the region's market dynamics, such as economic influences, consumer behavior, and regulatory frameworks. Focused segmentation analysis delineates the region's specificities, ranging from transmission parts to frame and forks parts, steering components, and more. As we delve into this market, the Middle East and Africa emerge as a pivotal player, reflecting a resilient and evolving landscape within the broader Bicycle Parts and Accessories industry.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Bicycle Parts and Accessories Market is witnessing significant growth in the near future.
In 2023, the Transmission Parts segment accounted for noticeable share of global Bicycle Parts and Accessories Market and is projected to experience significant growth in the near future.
The Offline segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Accell Group , Campagnolo S.R.L and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Transmission Parts, Frame and Forks Parts, Wheel Parts, Steering Components, Others |
Application | Offline, Online |
List of Competitors | Accell Group, Avon Cycles Ltd., Campagnolo S.R.L, Garmin Ltd., Giant Manufacturing Co. Ltd., Merida Industry Co. Ltd., Specialized Bicycle Components Inc., Trek Bicycle Corp., DT Swiss, Lezyne, Endura Ltd., Eastman Industries |
This chapter will help you gain GLOBAL Market Analysis of Bicycle Parts and Accessories. Further deep in this chapter, you will be able to review Global Bicycle Parts and Accessories Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Bicycle Parts and Accessories Market Trends North America Bicycle Parts and Accessories Technological Road Map North America Bicycle Parts and Accessories Market Drivers North America Bicycle Parts and Accessories Market Restraints North America Bicycle Parts and Accessories Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bicycle Parts and Accessories market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Transmission Parts have a significant impact on Bicycle Parts and Accessories market? |
What are the key factors affecting the Transmission Parts and Frame and Forks Parts of Bicycle Parts and Accessories Market? |
What is the CAGR/Growth Rate of Offline during the forecast period? |
By type, which segment accounted for largest share of the global Bicycle Parts and Accessories Market? |
Which region is expected to dominate the global Bicycle Parts and Accessories Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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