The Bicycle Components Aftermarket in 2022 was US$ 14 Billion and is estimated to be US$ 14.62 Billion in 2023. According to FMI analysis, the bicycle components aftermarket is projected to expand at a CAGR of 6.9% between 2023 and 2033, totaling around US$ 28.3 Billion by 2033.
The increasing traffic circumstances, which have resulted in high petrol prices and unsettling pollution worries, have led to a boom in demand for aftermarket bicycle components. Additionally, the worldwide aftermarket for bicycle components has been defined by a comparable concentration of production in a small number of nations, which corresponds to a corresponding dispersion in global demand.
Request your Sample Report to Explore the Impact of various factors on Bicycle Components Aftermarket:
https://www.futuremarketinsigh....ts.com/reports/sampl
Rising energy and oil prices are closely correlated with an increase in people's awareness of fitness, and the number of cars being driven is a major element supporting the expansion of the aftermarket for bicycle components.
According to FMI's analysis, the adoption of bike-sharing programmes in large and medium-sized cities has led to a rapid expansion of the cycling and e-bike infrastructure, which has created a favourable climate for the development of the aftermarket for bicycle components.
Key Takeaways from this study are:
The Anticipated value of the global bicycle components aftermarket reached a valuation of US$ 13.5 billion in 2021.
Sales in the bicycle components aftermarket are anticipated to expand by 8.7 X times from 2023 to 2033.
The United States holds a market share of 35.6% in the global bicycle components aftermarket.
North America’s bicycle components aftermarket has a market value of 40.2%.
China is one of the significantly growing markets for bicycle components, holding around 2/3rd of East Asia bicycle components aftermarket.
Based on component type, demand for road groupsets is expanding at a 7.2% CAGR over the assessment period.
Based on bicycle type, the electric bicycle segment is expected to capture a market share of 62%.
“Increase in the demand for bicycles are the key opportunity for bicycle components aftermarket manufacturers,” - comments an analyst at Future Market Insights (FMI).
For more info: https://www.futuremarketinsigh....ts.com/reports/bicyc
Competition Landscape:
The global bicycle components aftermarket players are attempting to carve out a niche for a particular demographic. Also, some leading and middle-scale manufacturers are focusing on product innovation and high-end technology development in the market to gain a competitive edge.
Some of the prominent players profiled in the Bicycle Components Aftermarket 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 Co. Ltd.
Avon Cycles Ltd.
Key developments in the Bicycle Components Aftermarket:
In January 2023, Shimano Announces New Fishing Reels for 2023. Shimano North America Fishing, a legendary innovator in the fishing tackle industry, has announced new additions to its deep lineup of quality reels. These three new offerings will provide extensive value to a wide spectrum of anglers from saltwater bottom fishermen, tournament-savvy bass enthusiasts, and devoted swimbait experts.
In May 2023, Kinaxis® Inc., the authority in driving agility for fast, confident decision-making in an unpredictable world, announced that Accell Group has deployed Kinaxis’ RapidResponse® platform, digitally transforming its supply chain, providing solutions to supply chain complexities.
1 (877) 773-1002