Pedaling Forward: Bicycle Components Aftermarket Projected to Reach US$ 28.3 Billion by 2032 with a Steady CAGR of 6.9%

Over the forecast period of 2022 to 2032, sales in the global bicycle components aftermarket are expected to grow at a CAGR of 6.9%, to reach a valuation of US$ 28.3 Billion by the end of 2032.

An expanding bicycle fleet across the globe is expected to be the main factor driving the need for bicycle components.

The rising popularity of recreational riding is expected to promote the expansion of the aftermarket for bicycle components. All across the world, people favour cycling as a form of recreation and exercise.

Customers are becoming more interested in cycling as a way to maintain a healthy lifestyle due to growing understanding of the chronic illnesses brought on by live a sedentary lifestyle. It is anticipated that demand for bicycle parts would rise quickly as more people adopt cycling as a regular method of exercise.

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The growing popularity of sports, particularly for health-related reasons, as well as celebrity endorsement and international or national athletic competitions, motivate people to engage in a variety of bicycle activities. Sales of bicycle components will increase over the evaluation period for the reasons outlined above.

"Increasing demand for electric bicycles, along with rising deployment of bicycle fleet across public entertainment infrastructures such as amusement parks, resorts and adventure parks will augment sales in the market," says an FMI analyst.

Key Takeaways:

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Drivers

Restraints

Competitive LandscapeThe global bicycle components aftermarket is moderately consolidated. The organized companies hold over 35% of the overall market share even though there are several small players existent in the market.

Major companies identified in the global market are Dorel Industries Inc., Accell Group N.V., Shimano Inc., SRAM LLC, Hero Cycles Limited, Campagnolo S.R.L., Merida Industry Co., Ltd., Specialized Bicycle Components, Rohloff AG, Giant Manufacturing Inc., and Avon Cycles Ltd. are some of the leading manufacturers operating in the global bicycle components aftermarket.

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Key Segments Covered in Bicycle Components Aftermarket Industry Analysis

By Component Type:

By Sales Channel:

By Bicycle Type:

By Region:

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