Bicycle Components Market

Bicycle Components Market: Discount Stores to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2026)

In order to lower the pollution levels, government in various countries are increasingly encouraging adoption of bicycles as a short mode of transportation. As the need for eco-friendly mode of commutation remains high, demand for bicycles will continue to increase significantly. The ruling authorities in various countries are encouraging adoption of bicycles as a public transport in metro stations and bus stands. In addition, growing need for riding bicycles to maintain health and fitness will continue to fuel growth of the global bicycle components market.   

According to Future Market Insights, the global bicycle components market is expected to represent a value of over US$ 6,700 Mn by the end of 2026.

bicycle components market

Health Benefits to Impact Global Market Growth

Prevalence of obesity and diabetes is further expected to impact growth of the global bicycle components market positively. According to CDC, more than 36.5%, which is one-third of the adult population in the U.S is obese. Growing need to reduce weight has led to surge in demand for bicycles. Riding cycles also releases endorphins and adrenaline, which helps in overcoming depression. In addition, growing need to manage the blood sugar level has led to an increase in demand for bicycles among the diabetic patients. Surge in adoption of bicycles is expected to contribute towards growth of the global bicycle components market significantly.

Replacement of Components to Rev Up Demand

Demand for bicycle components are also expected to remain high attributed to growing need for replacing damaged or old bicycle parts. Growing need to replace a broken spoke, rim, and bicycle frames will continue to rev up sales of the bicycle components. Riding bicycles on an uneven road can lead to deflated tire and damaged inner tubes. As the need to repair the inner tube of the bicycle tire arises, sales of the bicycle components in the automotive industry continues to remain high. Surge in demand to replace the damaged components of the bicycle is expected to impact growth of the global bicycle components market positively.

Technological Advancements to Underscore Lucrative Growth Opportunities

In order to improve the cycling experience, manufacturers are increasingly focusing on developing innovative component technology. Integration of innovative component technology such as GPS, which allows the end users to track the route through navigation is expected to rev up sales of the bicycles. In addition, the manufacturers are also incorporating advanced features such as built-in micro USB port, safety features and other onboard sensors that allows the end users to connect their devices with the bicycle. Other features that enable the diabetic patients to monitors the blood sugar level will continue to impact growth of the global bicycle components market significantly. However, growing preference for car and bikes to commute through longer distances quickly will continue to inhibit growth of the global market during the forecast period.

Discount Stores to Represent a Leading Segment

Growing need for changing gears has led to surge in demand for derailleurs in the automotive industry. On the basis of component type, the derailleurs segment is expected to represent the highest revenue growth, accounting for a value of nearly US$ 980 Mn by the end of 2026. In contrary, the others component type segment is expected to register a robust CAGR throughout the forecast period.

Based on sales channel, the discount stores segment is expected to generate significant revenues, recording for a value of over US$ 800 Mn by the end of 2017. However, the other sales channel segment is expected to register the highest CAGR through 2026.

By bicycle type, the hybrid/cross segment is expected to witness a significant revenue growth, accounting for a value of over US$ 800 Mn by the end of 2026. On the other hand, the electric bicycle type segment is expected to register a healthy CAGR during the forecast period.

Competition Tracking

Leading market players operating in the global bicycle components market include Giant Bicycles Inc., Atlas Cycles Inc., Avon Cycles Ltd., Cannondale Bicycle Corporation, Cycleurope AB, Accell Group N.V., Currie Technologies Inc., Dorel Industries Inc., Shimano, Inc and Sr. Suntour, Inc.

Global Bicycle Components Market: Overview

The global bicycle components market is projected to witness a moderate growth due to growing demand for environment-friendly mode of commutation. In addition, ruling authorities in several countries continue to encourage adoption of bicycles as a public transport. Adoption of bicycles will continue to remain high in the automotive industry due increasing demand to manage the blood and sugar level, and reduce weight. Surge in adoption of bicycles is further projected to fuel demand for bicycle components significantly. However, growing need to commute on a longer route quickly has led the customers to prefer opting for automotive such as cars and bikes.

The report offers in-depth information on the crucial aspects of the global bicycle components market and provides data on the factors propelling growth of the global market, competition landscape, important segments and growth patterns.

Market Taxonomy

Region

Component Type

Sales Channel

Bicycle Type

  • North America
  • Derailleurs
  • Specialty Bicycle Retailers
  • Mountain Bike
  • Latin America
  • Road Group Sets
  • Discount Stores
  • Hybrid/Cross
  • Europe
  • Suspensions
  • Department Stores
  • Road/700C
  • Japan
  • Wheelsets
  • Full-Line Sporting Goods Stores
  • Comfort
  • APEJ
  • Gears
  • Outdoor Specialty stores
  • Youth
  • MEA
  • Brakes
  • Other Sales Channel
  • Cruiser
 
  • Others
 
  • Recumbent/Tamdem
 
 
 
  • Electric
 
 
 
  • Folding

Global Bicycle Components Market: Dynamics

Growth of the global bicycle components market is significantly bound to several micro-economic and macro-economic factors. The report states that the global bicycle components market is significantly driven by increasing adoption of bicycle among the diabetic and obese patients. As the need for maintaining and monitoring the blood sugar level surfaces, demand for bicycles is projected to increase significantly in the global market. In addition, growing need for environment-friendly mode of transportation has led to surge in adoption of bicycles. Moreover, the ruling government in various counties are encouraging adoption of bicycles as a public transport for shorter distances. With increasing adoption of bicycles in the automotive industry, demand for bicycle components is projected to remain high. Demand for the bicycle components is also expected to remain high attributed to growing need to replace damaged components of the bicycle.

In order to offer enhanced customer experience, the manufacturers are mainly focusing on integrating smart and intelligent technology in the bicycle. The manufacturing companies are mainly concentrating on incorporating onboard sensors, GPS tracking system, built-in micro USB port. Moreover, manufacturers are also incorporating features that monitor the blood and sugar level of the diabetic patients. As preference for maintaining health and fitness increases, demand for bicycles is projected to remain high in the fitness institutions. Increasing demand for bicycles will continue to contribute towards the global market growth. However, increasing preference for cars and bikes to travel through long distances in shorter time period will continue to impact growth of the global bicycle components market negatively.

Global Bicycle Components Market: Segmentation

In the next section, the global bicycle components market is segmented as component type, sales channel, bicycle type, and region. Based on component type, the global market is segmented as derailleurs, road group sets, suspensions, wheelsets, gears, brakes and others. On the basis of sales channel, the global market is segmented as specialty bicycle retailers, discount stores, department stores, full-line sporting goods stores, outdoor specialty stores and other sales channel. By bicycle type, the global market is segmented as mountain bike, hybrid/cross, road/700c, comfort, youth, cruiser, recumbent/tamdem, electric and folding. On the basis of region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ and MEA.

Global Bicycle Components Market: Competition

Leading players in the global bicycle components market are Avon Cycles Ltd., Giant Bicycles Inc., Atlas Cycles Inc., Accell Group N.V., Cycleurope AB, Cannondale Bicycle Corporation, Shimano, Inc, Dorel Industries Inc., Sr. Suntour, Inc. and Currie Technologies Inc.