Wilmington, Oct. 26, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Bicycle Components and Accessories Market value is US$ 21.3 billion in 2023 and is expected to rise at a strong CAGR of over 20% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
The many parts, attachments, and gear that cyclists use to improve the operation, safety, and performance of their bicycles are referred to as bicycle components and accessories. These components and accessories might range from necessary components like brakes and gears to optional extras such as lights, locks, and water bottle holders.
As riding remains a popular and practical alternative for people all over the world, the need for innovative and high-quality bicycle components and accessories is likely to rise.
- According to a deep-dive market assessment by RationalStat, the global Bicycle Components and Accessories market has been analyzed on the basis of market segments, including product, bicycle type, sales channel and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Bicycle Components and Accessories market covers market sizes on the basis of market value (US$/EUR Million) and volume (Thousand Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Bicycle Components and Accessories market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Bicycle Components and Accessories Market: Segmental and Market Share Analysis
- On the basis of product, the component segment led the overall market in 2022, accounting for more than 60% of total revenue, and is expected to rise significantly throughout the forecast period.
- Based on bicycle type, road bicycle segment accounted for the largest revenue share of 35% in 2022 due to increase in popularity of basic bicycles.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 21.3 billion |
| Market Size Forecast | US$ 33.1 billion |
| Growth Rate | 20% |
| Dominant Segment | Road Bicycles |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Bicycle Components and Accessories market include,
- In November 2022, Thousand, a manufacturer of antique and creative cycling helmets and safety equipment, launched Ride Shop, a digital shopping experience that offers discounts on the most often recommended and purchased safety gear.
Some of the prominent players and suppliers operating and contributing significantly to the global Bicycle Components and Accessories market growth include Shimano Inc., SRAM LLC, Campagnolo S.r.l., Giant Manufacturing Co., Ltd., Trek Bicycle Corporation, Specialized Bicycle Components, Inc., Merida Industry Co., Ltd., Fox Factory Holding Corp., Accell Group N.V., and Thule Group AB, among others.
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RationalStat has segmented the global Bicycle Components and Accessories market based on product, bicycle type, sales channel, and region
- Global Bicycle Components and Accessories Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Product
- Components
- Brakes
- Cranksets
- Bottom Bracket
- Casette
- Chain
- Wheel
- Saddles
- Front Hub
- Free Hub
- Dual Control Lever
- Speed/Gear Shifter
- Brake Lever
- Derailleur
- Rear Derailleur
- Front Derailleur
- Disc Brake Rotor
- Pedal
- Others
- Bicycle Accessories
- Helmets
- Eyewear
- Apparels
- Gloves
- Socks
- Others
- Lights
- Footwear
- Global Bicycle Components and Accessories Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Bicycle Type
- Road Bicycles
- Leisure Bicycles
- MTBs
- E-bikes
- Utility Bicycles
- Others
- Global Bicycle Components and Accessories Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Sales Channel
- Offline
- Brand Stores
- Local Retailers
- Online
- E-commerce Websites
- Company-owned Websites
- Global Bicycle Components and Accessories Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Region
- North America Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- US
- Canada
- Latin America Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Bicycle Components and Accessories Market Analysis and Forecast, 2019-2030
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Key Questions Answered in the Bicycle Components and Accessories Report:
- What will be the market value of the global Bicycle Components and Accessories market by 2030?
- What is the market size of the global Bicycle Components and Accessories market?
- What are the market drivers of the global Bicycle Components and Accessories market?
- What are the key trends in the global Bicycle Components and Accessories market?
- Which is the leading region in the global Bicycle Components and Accessories market?
- What are the major companies operating in the global Bicycle Components and Accessories market?
- What are the market shares by key segments in the global Bicycle Components and Accessories market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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