Studying Potential of the Bicycle Component Aftermarket in Western Europe from 2024 to 2034
The bicycle component aftermarket in Western Europe is expected to demonstrate a CAGR of 6.2% by 2034. The bicycle components aftermarket in Western Europe is poised to witness significant opportunities with US$ 4,902.8 million in 2024.
Attributes
Details
Demand Analysis (2024)
US$ 4,902.8 million
Demand Forecast (2034)
US$ 8,947.25 million
CAGR Estimation (2024 to 2034)
6.2%
The bicycle components aftermarket is witnessing substantial growth driven by the increasing adoption of green energy, stringent global regulations addressing rising carbon footprints, and significant investments in developing environmentally efficient modes of transportation. By 2034, bicycle components aftermarket in Western Europe will likely secure US$ 8,947.25 million.
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Key Insights and Highlights for Emerging and Fast-Growing Opportunities
The bicycle component aftermarket strategically emphasizes industrial penetration over immediate profitability, paving the way for long-term growth and industrial dominance.
Companies within the bicycle component aftermarket are actively deploying global competition strategies to emulate the success of developed nations, fostering a competitive landscape that drives innovation and expansion.
The bicycle component aftermarket is increasingly integrating sustainability and advanced technologies, aligning with the growing global focus on eco-friendly practices and enhancing product performance.
Key Trends Influencing Demand for Bicycle Component Aftermarket in Western Europe
The increasing emphasis on sustainability and eco-friendly practices extends to the bicycle component aftermarket. Consumers are inclined towards environmentally conscious choices, driving demand for components that align with sustainability principles.
The growth of cyclo-tourism and recreational riding fosters demand for durable and specialized components catering to the unique requirements of long-distance and leisure cyclists.
Integrating smart technologies into bicycle components, such as GPS tracking, performance monitoring, and connectivity features, is a notable trend. This technological evolution contributes to the demand for cutting-edge aftermarket solutions.
Find your sweet spots for generating winning opportunities in this market.
Comparative View of Adjacent Bicycle Component Aftermarket in Key Industries
The table provides a comparative snapshot of sales and adoption rates in the bicycle component aftermarket across three key countries- Western Europe, Japan, and Korea.
Bicycle Component Aftermarket in Western Europe:
Attributes
Bicycle Component Aftermarket in Western Europe
CAGR (2024 to 2034)
6.2%
Valuation (2024)
US$ 4,902.8 million
Key Trend
Consumers increasingly demand components that align with environmental consciousness, driving innovation in eco-friendly materials and production processes.
Key Challenge
Stringent regulatory standards and compliance requirements pose a challenge for aftermarket manufacturers in Western Europe.
Bicycle Component Aftermarket in Japan:
Attributes
Bicycle Component Aftermarket in Japan
CAGR (2024 to 2034)
5.4%
Valuation (2024)
US$ 816.1 million
Key Trend
The integration of smart technologies into bicycle components is a significant trend in Japan.
Key Challenge
Adapting to evolving consumer preferences while preserving the rich cycling culture poses a delicate challenge for aftermarket players.
Bicycle Component Aftermarket in Korea:
Attributes
Bicycle Component Aftermarket in Korea
CAGR (2024 to 2034)
5%
Valuation (2024)
US$ 431.8 million
Key Trend
The market is witnessing a growing demand for technologically advanced and innovative solutions, aligning with the preferences of enthusiasts seeking top-notch performance.
Key Challenge
Fierce competition from established brands and the need to establish a unique market position pose challenges for new entrants in Korea.
Country-wise Insights
The bicycle component aftermarket in Italy is projected to experience growth with a CAGR of 6.3% through 2034, indicating a thriving market. Meanwhile, despite exhibiting a slightly lower CAGR of 5.8%, Germany still signifies a steady and promising trajectory in the aftermarket sector. Both countries showcase positive trends, reflecting a buoyant landscape for bicycle component sales and adoption.
Countries
CAGR through 2034
Italy
6.3%
Germany
5.8%
Cycling Renaissance in Italy Propels Bicycle Component Aftermarket
The bicycle component aftermarket in Italy is on an upward trajectory, forecasting a CAGR of 6.3% through 2034. This impressive growth signifies a flourishing industrial landscape driven by heightened consumer demand for aftermarket upgrades and components.
The favorable environment sets the stage for manufacturers and retailers to thrive, presenting ample opportunities for innovation and expansion of the dynamic bicycle component sector in Italy.
Unveiling Opportunities and Trends in Germany Bicycle Component Aftermarket
Germany bicycle component aftermarket demonstrates a promising outlook, boasting a noteworthy CAGR of 5.8% through 2034. While slightly below Italy growth rate, Germany market maintains resilience and steady progression. Fueled by a robust cycling culture and a preference for high-quality, innovative components, Germany emerges as a pivotal player in the European aftermarket landscape. The projected growth underscores sustained consumer interest, offering a conducive market for businesses to explore and capitalize on emerging opportunities within the flourishing German bicycle component sector.Top of Form
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Category-wise insights
In 2024, the bicycle component aftermarket is especially lucrative for road groupsets, constituting a substantial industrial share of 58.6%. By sales channel, departmental stores play a significant role, capturing a notable share of 37.5%, indicating diverse consumer channels within the bicycle component sector.
This distribution underscores the industrial focus on specialized components for road cycling and the accessibility of components through departmental retail outlets, contributing to a dynamic and varied aftermarket landscape.
Category
Industrial Share in 2024
Road Groupsets
58.6%
Departmental Store
37.5%
Analyzing the Industrial Dynamics and Consumer Preferences Driving the Surge in Road Groupsets Industrial Share
In the landscape of the bicycle component aftermarket in 2024, road groupsets emerged as the dominant category, commanding a substantial industrial share of 58.6%.
This high percentage underscores a pronounced preference among consumers for specialized components tailored to road cycling, reflecting a strong market demand for performance-driven and technologically advanced groupsets.
Unveiling the Impact of Departmental Stores as Crucial Retail Channels in the Bicycle Component Aftermarket Landscape
The departmental store category claims a noteworthy share of 37.5%, highlighting the significance of diverse retail channels within the bicycle component sector. The accessibility of components through departmental stores signifies a broad consumer reach, indicating a robust retail presence for bicycle components beyond specialized outlets.
This diversified approach to distribution contributes to the overall resilience and accessibility of the bicycle component aftermarket, catering to a wide range of consumer preferences and purchasing behaviors.
Recent Developments Observed in the Bicycle Component Aftermarket in Western Europe
In January 2023, Hero Cycles announced plans to venture into the electric vehicle (EV) market.
In November 2022, Shimano, a global leader in cycling components, revealed a suite of groundbreaking e-bike products and technologies.
Report Scope
Attribute
Details
Estimated Size in 2024
US$ 4,902.8 million
Projected Size in 2034
US$ 8,947.25 million
Anticipated CAGR between 2024 to 2034
6.2% CAGR
Demand Forecast for the Bicycle Component Aftermarket in Western Europe
2024 to 2034
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing the Bicycle Component Aftermarket in Western Europe, Insights on Global Players and their Strategy in Western Europe, Ecosystem Analysis of Local and Regional Western Europe Providers
Key Provinces Analyzed
The United Kingdom
Germany
France
The Netherlands
Spain
Italy
Rest of Western Europe
Key Companies Profiled
Eastman
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
Key Segments
By Component Type:
Derailleurs
Road Groupsets
Suspensions
Wheel Sets
Brakes
Hydraulic
Mechanical
Caliper Type
Gears
Others (Bottom Brackets etc.)
By Sales Channel:
Specialty Bicycle Retailers
Discount Stores
Department Stores
Full-line Sporting Goods Stores
Outdoor Specialty Stores
Other Sales Channels
By Bicycle Type:
Mountain Bike
Hybrid/Cross
Road
Comfort
Youth
Cruiser
Recumbent/Tandem
Electric
Folding
By Countries:
United Kingdom
Germany
Italy
France
Spain
The Netherlands
Rest of Western Europe
Frequently Asked Questions
What is the expected value of the Bicycle Component Aftermarket in 2024?
By 2024, the estimated valuation of the bicycle component aftermarket is US$ 4,902.8 million.
At what Rate is the Bicycle Component Aftermarket Growing in Western Europe?
The anticipated CAGR for bicycle component aftermarket through 2034 is 6.2%.
What will be the anticipated value of the Bicycle Component Aftermarket in 2034?
By 2034, the demand for the bicycle component aftermarket will reach US$ 8,947.25 million in value terms.
What is was the Historical Growth of the Bicycle Component Aftermarket?
The Western Europe bicycle component aftermarket expanded at a CAGR of 6% from 2019 to 2023.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Component Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Component Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Component Type, 2024 to 2034
5.3.1. Derailleurs
5.3.2. Road Group sets
5.3.3. Suspensions
5.3.4. Wheel Sets
5.3.5. Brakes
5.3.5.1. Hydraulic
5.3.5.2. Mechanical
5.3.6. Calliper Type
5.3.7. Gears
5.3.8. Others (Bottom Brackets etc.)
5.4. Y-o-Y Growth Trend Analysis By Component Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Component Type, 2024 to 2034
6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Sales Channel, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Sales Channel, 2024 to 2034
6.3.1. Specialty Bicycle Retailers
6.3.2. Discount Stores
6.3.3. Department Stores
6.3.4. Full-line Sporting Goods Stores
6.3.5. Outdoor Specialty Stores
6.3.6. Other Sales Channel
6.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Sales Channel, 2024 to 2034
7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Bicycle Type
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Bicycle Type, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Bicycle Type, 2024 to 2034
7.3.1. Mountain Bike
7.3.2. Hybrid/Cross
7.3.3. Road
7.3.4. Comfort
7.3.5. Youth
7.3.6. Cruiser
7.3.7. Recumbent/Tandem
7.3.8. Electric
7.3.9. Folding
7.4. Y-o-Y Growth Trend Analysis By Bicycle Type, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Bicycle Type, 2024 to 2034
8. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Country, 2019 to 2023
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Country, 2024 to 2034
8.3.1. UK
8.3.2. Germany
8.3.3. Italy
8.3.4. France
8.3.5. Spain
8.3.6. Rest of Western Europe
8.4. Market Attractiveness Analysis By Country
9. UK Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Region
9.2.1.1. England
9.2.1.2. Scotland
9.2.1.3. Wales
9.2.1.4. Northern Ireland
9.2.2. By Component Type
9.2.3. By Sales Channel
9.2.4. By Bicycle Type
9.3. Market Attractiveness Analysis
9.3.1. By Region
9.3.2. By Component Type
9.3.3. By Sales Channel
9.3.4. By Bicycle Type
9.4. Key Takeaways
10. Germany Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Region
10.2.1.1. North-east (Germany)
10.2.1.2. North-west (Germany)
10.2.1.3. Central (Germany)
10.2.1.4. South (Germany)
10.2.1.5. Other(Germany)
10.2.2. By Component Type
10.2.3. By Sales Channel
10.2.4. By Bicycle Type
10.3. Market Attractiveness Analysis
10.3.1. By Region
10.3.2. By Component Type
10.3.3. By Sales Channel
10.3.4. By Bicycle Type
10.4. Key Takeaways
11. Italy Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Region
11.2.1.1. North (Italy)
11.2.1.2. Central (Italy)
11.2.1.3. South (Italy)
11.2.1.4. Islands (Italy)
11.2.2. By Component Type
11.2.3. By Sales Channel
11.2.4. By Bicycle Type
11.3. Market Attractiveness Analysis
11.3.1. By Region
11.3.2. By Component Type
11.3.3. By Sales Channel
11.3.4. By Bicycle Type
11.4. Key Takeaways
12. France Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Region
12.2.1.1. Northern (France)
12.2.1.2. Central (France)
12.2.1.3. Southern (France)
12.2.1.4. Eastern (France)
12.2.2. By Component Type
12.2.3. By Sales Channel
12.2.4. By Bicycle Type
12.3. Market Attractiveness Analysis
12.3.1. By Region
12.3.2. By Component Type
12.3.3. By Sales Channel
12.3.4. By Bicycle Type
12.4. Key Takeaways
13. Spain Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Region
13.2.1.1. Basque Country
13.2.1.2. Andalusia
13.2.1.3. Extremadura
13.2.1.4. Catalonia
13.2.1.5. Valencia
13.2.1.6. Rest of Spain
13.2.2. By Component Type
13.2.3. By Sales Channel
13.2.4. By Bicycle Type
13.3. Market Attractiveness Analysis
13.3.1. By Region
13.3.2. By Component Type
13.3.3. By Sales Channel
13.3.4. By Bicycle Type
13.4. Key Takeaways
14. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Component Type
14.2.2. By Sales Channel
14.2.3. By Bicycle Type
14.3. Market Attractiveness Analysis
14.3.1. By Component Type
14.3.2. By Sales Channel
14.3.3. By Bicycle Type
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Component Type
15.3.3. By Sales Channel
15.3.4. By Bicycle Type
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Eastman
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Dorel Industries Inc
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Accell Group N.V.
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Shimano Inc.
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. SRAM LLC
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Hero Cycles Limited
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Campagnolo S.R.L.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Merida Industry Co. Ltd.
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Specialized Bicycle Component
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Rohloff AG
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
17. Assumptions & Acronyms Used18. Research Methodology
