The bicycle components aftermarket market has demonstrated significant growth, expanding from $15.97 billion in 2023 to $17.48 billion in 2024, achieving a compound annual growth rate (CAGR) of 9.5%. This growth can be attributed to surges in road cycling and gravel biking, economic conditions, increased spending on high-end aftermarket upgrades, heightened environmental concerns, and rising health and fitness awareness. Looking forward, the market is set to reach $25.53 billion by 2028, with a CAGR of 9.9%. Key drivers of future growth include government policies promoting cycling, the rise of online retail platforms, the need for maintenance and replacement parts for older bicycles, increased interest in bicycle customization, and evolving safety regulations. Trends shaping the market include a growing demand for e-bike components, eco-friendly materials, refurbishment and reuse, integration of smart technology, use of advanced materials, performance enhancements, and a move towards standardization.
Major Driver In The Bicycle Components AfterMarket
The surge in bicycle demand is anticipated to significantly drive the growth of the bicycle component aftermarket market. Bicycles, which are two-wheeled manually powered vehicles, are increasingly popular due to heightened health awareness, a shift towards eco-friendly transportation, and recreational use. This aftermarket sector offers essential replacement parts and accessories to optimize bike performance and longevity. For example, the Portland Bureau of Transportation reported a 5% increase in biking participation in 2023 compared to 2022, and a 4.8% rise from 2021. This heightened interest in bicycles is expected to boost the bicycle component aftermarket market substantially.
Request A Free Sample Of The Bicycle Components AfterMarket Report
Bicycle Components AfterMarket Competitive Landscape
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
Key Bicycle Components AfterMarket Trend
In the bicycle component aftermarket, companies are introducing innovative products to improve safety and aesthetics. One notable development is minimalistic color LED blinkers, which feature simple, often monochromatic color schemes for a sleek design. For instance, Uno Minda, an India-based automotive component manufacturer, launched a new line of customizable LED blinkers for two-wheelers in November 2023. These blinkers can be tailored to individual preferences while meeting regulatory standards and traffic regulations, ensuring both style and compliance.
Purchase The Global Bicycle Components AfterMarket Report Directly And Get A Swift Delivery
Bicycle Components AfterMarket Segmentation
The bicycle components aftermarket market covered in this report is 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
By Geography:The regions covered in the bicycle components aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Bicycle Components Aftermarket Global Market Report 2024 furnishes information about the global bicycle components aftermarket market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
