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Bicycle Components Aftermarket Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Bicycle Components Aftermarket Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The bicycle components aftermarket market size is expected to see strong growth in the next few years. It will grow to $25.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, September 4, 2024 /EINPresswire / -- The bicycle components aftermarket market has experienced robust growth in recent years, expanding from $15.97 billion in 2023 to $17.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to surges in road cycling and gravel biking, economic recessions, increased spending on high-end aftermarket upgrades, growing environmental concerns, and rising awareness of health and fitness.
What Is The Estimated Market Size Of The Global Bicycle Components Aftermarket Market And Its Annual Growth Rate?
The bicycle components aftermarket market is projected to continue its strong growth, reaching $25.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to government policies promoting cycling, the expansion of online retail platforms, the need for maintenance and replacement parts for older bicycles, increased interest in customizing bicycles, and safety regulations and standards requiring regular updates and replacements.
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Growth Driver of The Bicycle Components Aftermarket Market
The increase in the demand for bicycles is expected to propel the bicycle component aftermarket market growth going forward. A bicycle is a manually powered vehicle with two wheels aligned in a row, driven by pedals. The increase in bicycle demand is due to Growing awareness of health benefits, demand for sustainable and eco-friendly modes of transportation, and popularity for recreational purposes. The bicycle component aftermarket supplies replacement parts and accessories, allowing cyclists to maintain and enhance their bikes' performance and lifespan.
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Which Market Players Are Driving The Bicycle Components Aftermarket Market Growth?
Key players in the bicycle components aftermarket market include Continental AG, SHIMANO INC., Fox Factory, SRAM LLC, DT Swiss, Mavic, Jagwire, ENVE Composites, Renthal Ltd, Zipp Battery LLC, Wheels Manufacturing, Selle Italia s.r.l., Lezyne, Race Face, Campagnolo, Lizard Skins, CeramicSpeed, Ergon Bike, Bike Thomson, Full Speed Ahead, Maxxis, Easton Cycling, Hope Technology (IPCO) Ltd, KMC Chain.
What Are The Key Trends That Influence Bicycle Components Aftermarket Market Share Analysis?
Major companies operating in the bicycle component aftermarket market are focusing on developing innovative products, such as minimalistic color in LED blinkers, to enhance safety, aesthetics, and compliance with regulatory standards for cyclists. Minimalistic color in LED blinkers refers to simple, often monochromatic, color schemes emphasizing clean and uncluttered design. In the context of LED blinkers, this typically involves using single, solid colors such as white, amber, or red.
How Is The Global Bicycle Components Aftermarket Market Segmented?
1) By Component Type: Derailleurs, Road Groupsets, Suspensions, Wheel Sets, Brakes, Caliper Type, Gears, Other Components
2) By Bicycle Type: Mountain Bike, Hybrid or Cross, Road, Comfort, Youth, Cruiser, Recumbent or Tandem, Electric, Folding
3) By Sales Channel: Specialty Bicycle Retailers, Discount Stores, Department Stores, Full-Line Sporting Goods Stores, Outdoor Specialty Stores, Other Sales Channel
Geographical Insights: North America Leading The Bicycle Components Aftermarket Market
North America was the largest region in the bicycle components aftermarket market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle components aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Bicycle Components Aftermarket Market Definition
The bicycle component aftermarket refers to the market segment that deals with the sale of replacement and upgrade parts for bicycles after the initial sale of the complete bicycle. The aftermarket allows cyclists to personalize their rides according to their preferences and needs, often offering higher performance or specialized features not found in standard factory-built bicycles.
Bicycle Components Aftermarket Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global bicycle components aftermarket market report covering trends, opportunities, strategies, and more
The Bicycle Components Aftermarket Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bicycle components aftermarket market size , bicycle components aftermarket market drivers and trends, bicycle components aftermarket market major players, bicycle components aftermarket competitors' revenues, bicycle components aftermarket market positioning, and bicycle components aftermarket market growth across geographies. The bicycle components aftermarket market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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