The anticipated size of the bicycle components aftermarket in 2022 was USD 14 billion and is estimated to be USD 14.62 billion in 2023.
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. According to FMI analysis, the bicycle components aftermarket is anticipated to expand at a CAGR of 6.9% between 2023 and 2033, totaling around USD 28.3 billion by 2033.
Global bicycle components aftermarket reached a valuation of USD 13.5 billion in 2021. Road group sets segment by component type are expected to account for more than half of the total bicycle components aftermarket sales by the end of the forecast period.
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.
The Bicycle Components Aftermarket is experiencing significant growth due to the increasing popularity of cycling for fitness, commuting, and recreational purposes. The surge in e-bike adoption, growing awareness around health, and rising preference for customization and upgrades have fueled demand for high-quality aftermarket bicycle parts.
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Key Takeaways
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Rising demand for replacement and performance-enhancing bicycle parts
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Growth of the urban cycling culture and government focus on sustainable transportation
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Expanding e-commerce platforms and direct-to-consumer sales boosting aftermarket accessibility
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Increasing DIY bike maintenance trends among cycling enthusiasts
Key Drivers
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Surge in cycling as a lifestyle and fitness activity
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Expansion of cycling infrastructure in urban areas
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Increasing sales of electric bikes (e-bikes) and premium bicycles
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Growing popularity of cycling events and sports
Growth Opportunities
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Introduction of lightweight, durable, and smart components
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Demand for custom and aesthetic modifications
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Expansion in emerging markets with rising cycling adoption
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Partnerships between OEMs and aftermarket brands
Key Components in Demand
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Drivetrain Systems (chains, derailleurs, cassettes)
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Braking Systems (disc brakes, calipers, brake pads)
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Wheels and Tires
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Handlebars, Saddles, and Pedals
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Suspension Systems
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E-bike batteries and electronics
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Lighting and Safety Accessories
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Key Players
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Shimano Inc.
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SRAM LLC
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Campagnolo S.r.l.
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Bosch eBike Systems
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Tektro Technology Corporation
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Giant Manufacturing Co., Ltd.
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Accell Group
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Specialized Bicycle Components
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Trek Bicycle Corporation
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DT Swiss
Key Segmentations
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By Component Type – Mechanical, Electrical, Safety & Aesthetic
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By Bike Type – Mountain Bikes, Road Bikes, Hybrid, E-Bikes
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By Distribution Channel – Offline Retail, Online Stores
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By Region – North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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