Global Bicycle Chain Market Size Forecast 2024-2033
12 Dec, 2024
How Is The Global Bicycle Chain Market Defined?
A bicycle chain is a crucial component of a bicycle's drivetrain system. It is a series of linked metal segments that transfer power from the pedals to the rear wheel, enabling the bicycle to move forward. Here’s an overview of its purpose and uses. The primary purpose of a bicycle chain is to transmit the rider's pedaling force from the chainring (attached to the pedals) to the rear sprockets (part of the rear wheel hub). This transmission of power propels the bicycle forward.
Bicycle Chain Global Market Report 2024 provides data on the global bicycle chain market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The bicycle chain market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Bicycle Chain Market Size And Growth Rates Projected To Evolve?
The bicycle chain market has grown significantly, increasing from $6.97 billion in 2023 to $7.43 billion in 2024, with a CAGR of 6.6%. Growth in the historical period has been driven by urbanization, cycling's health benefits, government initiatives, better cycling infrastructure, bicycle-sharing programs, and high fuel prices. By 2028, the market is anticipated to reach $9.62 billion, growing at a CAGR of 6.7%. Future growth drivers include urbanization, e-bike advancements, cycling infrastructure investments, environmental consciousness, and innovations in lightweight and durable materials. Trends include e-bike adoption, demand for smart bicycles, growth in cycling tourism, expanded micro-mobility options, and material technology improvements.
What Are The Essential Drivers Behind The Growth Of The Bicycle Chain Market?
The growing population of cycling enthusiasts is expected to support the growth of the drug-eluting stent market. Cycling enthusiasts, who engage in cycling as both a recreational activity and a sport, contribute to the rising demand for bicycle-related products. Cycling provides numerous health benefits, such as improved cardiovascular fitness and muscle strength. According to the Outdoor Industry Association, participation in outdoor cycling grew by 6.5% from 2021 to 2022, which is likely to drive demand for bicycle chains and related components, including drug-eluting stents.
Get Your Free Sample of the Global Bicycle Chain Market ReportHow Is The Global Bicycle Chain Market Divided Into Key Segments?
The bicycle chain market covered in this report is segmented –
1) By Type: 6 Speed,8 Speed, 10 Speed, Other Types
2) By Material Type: Carbon Steel, Alloy Steel, Nickel Plated
3) By Application: Road Bikes, Mountain Bikes, Hybrid And Commuter Bikes, Electric Bikes, E Cargo Bikes
4) By Sales Channel: First Fit, Replacement
What Trends Are Reshaping The Future Of The Bicycle Chain Market?
Key players in the bicycle chain market are advancing customization and personalization by developing specialized chain sprocket kits to enhance performance and broaden market reach. Chain sprocket kits typically include gears or cogs tailored to specific electric bicycle and motorcycle requirements. For instance, in December 2023, L. G. Balakrishnan & Bros. Ltd., an India-based automotive component manufacturer, launched the industry’s first electric bike chain sprocket kit, exclusively for Tork Motors, marking a milestone in electric mobility solutions. They also introduced chain sprocket kits for the Ultraviolette F77 high-performance electric motorcycle and expanded their portfolio with poly PU rubber dampers, enhancing their range of automotive components.
What Is The Fastest Growing Region In The Bicycle Chain Market?
North America was the largest region in the bicycle chain market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.