Europe Bicycle Parts and Accessories Market (2023-2029) | Trends, Industry, Segmentation, Share, Analysis, Growth, Size, Revenue, Value, Outlook & COVID-19 IMPACT

Europe Bicycle Parts and Accessories Market Synopsis

Europe Bicycle Parts and Accessories Market is anticipated to grow significantly owing to the rapid growth of awareness for fitness and various government initiatives introduced Pan-Europe for the promotion of cycling. The cycling industry and cycling tourism have a high economic potential in the Pan-European region, about 750,000 jobs are connected to the industry, Cycle tourists are increasingly prominent in the profile of Europe tourism. In the EU alone, tourists make over 2 billion cycle trips and around 20 million overnight cycle trips each year.According to 6Wresearch, Europe Bicycle Parts and Accessories Market is expected to grow at a CAGR of 9.3% during 2023-2029. The market is likely to experience rapid growth in the forecast period on account of several initiatives such as “bike to work”  where office commuters are encouraged to use bicycles for covering small distances to their workplace and integrating bicycling as a part of the physical education curriculum in countries like Slovakia and Portugal (U-Bike), in addition to this some of the European nations reported higher usage of bicycles in the aftermath of the COVID-19 pandemic besides this, 16 European nations have national cycling plans either already implemented or in process of completion, for example, “EuroVelo” which is the backbone for national and regional cycling networks and a powerful planning tool to demonstrate the need for coherent, prioritized and continuous cycling infrastructure in all type of areas (urban, peri-urban, rural). In the “Pan-European Master Plan for Cycling Promotion,” it was decided that all countries must develop and implement a national cycling policy by 2030, which is a part of the governments across Europe to make it carbon neutral and reduce Greenhouse gas emissions from the transport sector which contributes almost a quarter of total emissions.

Market by Parts

The transmission parts segment captured the largest share in the Europe bicycle parts and accessories market owing to the rising trend of personalized or e-bikes, transmission parts including motors or batteries, chains, cranksets, derailleurs, and others are the important aspects for customization and the upcoming new technologies would further drive sales in the coming years.

Market by Types

The market for E-bikes is anticipated to grow at a higher rate on account of governments and local authorities progressively offering subsidies and other incentives for the purchase of e-bikes, and rising average prices of fuel are helping to drive this market's expansion.

Market by Countries

Germany, followed by France and Italy, is Europe's biggest market for bicycle components and accessories on account of the region's overall sales originate from these nations, because of their sizable populations and vibrant cycling traditions. Additionally, government tax credits and subsidy plans would further boost the market of bicycle parts and accessories.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Europe Bicycle Parts and Accessories Market Overview
• Europe Bicycle Parts and Accessories Market Outlook
• Europe Bicycle Parts and Accessories Market Forecast
• Historical Market Data and Forecast of Europe Bicycle Parts and Accessories Revenues, By Parts for the period 2019-2029F.
• Historical Market Data and Forecast of Europe Bicycle Parts and Accessories Revenues , By Type for the period 2019-2029F.
• COVID-19 Impact on Europe Bicycle Parts and Accessories Market 
• Market Drivers and Restraints
• Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Parts

• Transmission Parts
• Frame & Forks
• Wheel Parts
• Steering Parts

By Types

• Mountain Bicycle
• Road Bicycles
• Electric Bikes
• Others

By Countries

• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe