Global Bicycle Parts and Accessories Market (2020-2026) | Size, Segmentation, Brands Revenue, Analysis, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

Latest 2023 Developments of the Global Bicycle Parts and Accessories Market

The Global Bicycle Parts and Accessories Market is constantly evolving and it is dynamic, which is driven by the growing popularity of cycling across the world as a recreational as well as a fitness activity. Some of the latest major developments in the market are:

Eco-friendly and sustainable products: With the rising focus on environmental protection and sustainability, there is an increasing trend towards the use of eco-friendly and sustainable materials in the production of bicycle parts and accessories. In the market, manufacturers use materials like natural rubber, bamboo, and recycled plastic in order to create products that are functional and environmentally friendly. It is one of the major developments happening in the Global Bicycle Parts and Accessories Industry.

Electric bike components and accessories: The increasing demand for electric bikes led to a growth in the production as well as the sale of electric bike components and accessories. In the sector, manufacturers offer a wide range of electric bike motors, controllers, batteries and other parts to cater to the rising demand for e-bike customization as well as upgrades.

Online distribution and sales: The pandemic accelerated the shift towards online distribution and sales channels in the bicycle components and accessories sector. E-commerce platforms as well as online retailers play a huge role in the distribution of such products, with consumers opting for online purchases as well as home deliveries, which is stimulating the Global Bicycle Parts and Accessories Market Growth.

Advanced bike technology: The integration of advanced technology into bicycles as well as accessories is another major development in the sector, which is aiding in the growth of the Global Bicycle Parts and Accessories Market Share. Advanced bike components like sensors, GPS trackers, and electronic gear shifters are now available, which provides cyclists with real-time data on their performance.

Global Bicycle Parts and Accessories market Synopsis

Global Bicycle Parts and Accessories market consists of all parts and accessories of bicycles. These include steering components, wheel parts, frame and fork parts, transmission parts, and various others. The use of bicycle accessories has increased significantly in recent times. People have taken up cycling as a regular activity to stay fit. Medical practitioners recommend cycling to people suffering from various muscular defaults and other problems. Additionally, there has been a huge demand for new-age technologies in bicycles. This is the fact that riders prefer to equip their bicycles with various devices like speedometers that can help in the handling of the bike. Also, over the past few years, several paid bikers have undertaken to take groups of adventure enthusiasts on biking expeditions to tough roads and mountain ranges and thus making it a profession. Further, Rental and sharing services in various urban cities are growing and are causing to be a key trend in the bicycle market. Also, due to increasing concerns regarding the environment, many countries throughout the world are adopting e-bikes as a mode of transportation. However, the COVID-19 pandemic has brought a halt to the growth of this market.

According to 6Wresearch, the Global Bicycle Parts and Accessories Market size is anticipated to register growth during 2020-26. At present, North America is currently expected to account for the highest revenue share in the overall Bicycle Parts and Accessories market. Further, the USA, Canada, and Mexico are among the top contributors to the market. Further, the Global region is expected to emerge as the fastest-growing market for Bicycle Parts and Accessories during the forecast period, owing to changing lifestyle of the population, and increasing inclination towards fitness in the countries in this region. Europe and the Asia Pacific are projected to hold a prominent share and drive growth in this region. Markets in Europe, Latin America, the Middle East, and Africa are expected to register moderate growth during the forecast period. The major players in the Bicycle Parts and Accessories global market are Giant Manufacturing Co., Ltd., Shimano Inc., Campagnolo S.R.L., Avon Cycles Ltd, Eastman Industries Limited, Merida Industry Co Ltd and Dorel Industries. 

Based on verticals, mountain bicycles are expected to register maximum demand over the forecast period owing to the growing preference for adventure expeditions. This will lead to an increase in demand for helmets, LED lights, bottle cages, luggage carriers, and mud flaps. Additionally, E-bikes are expected to account for a major share in terms of revenue in the global market, owing to various features offered such as low power demands and easy-to-ride. Rental and second-hand bikes are also expected to be a fast-growing sector of the market owing to their cheapness.

The Global Bicycle Parts and Accessories market report thoroughly covers the market by types, applications, and regions including North America, Latin America, Europe, Global, the Middle East and Africa, and key countries. The Bicycle parts and Accessories market outlook report provides an unbiased and detailed analysis of the ongoing Bicycle Parts and Accessories market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The global bicycle parts and accessories market is projected to register sound revenues in the market owing to the increase in the growth of bicycle users especially, the rising popularity among youngsters. Additionally, the rising young working population coupled with the rising bicycle race is leading to making a bicycle an evident product hence the demand for bicycle parts and accessories and is estimated to benefit the growth of the bicycle parts and accessories market in the coming timeframe.

Key Highlights of the Report:

• Global Bicycle Parts and Accessories Market Outlook
• Global Bicycle Parts and Accessories Market Overview
• Global Bicycle Parts and Accessories Market Forecast
• Historical Data for the period 2016-2019 and Market Forecast of Global Bicycle Parts and Accessories Market Revenues until 2026
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Types
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Applications
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Regions
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Asia Pacific Bicycle Parts and Accessories Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Europe Bicycle Parts and Accessories Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for the Middle East Bicycle Parts and Accessories Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Africa Bicycle Parts and Accessories Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for the North America Bicycle Parts and Accessories Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for the Latin America Bicycle Parts and Accessories Market
• Market Drivers and Restraints
• Global Bicycle Parts and Accessories Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Global Bicycle Parts and Accessories Market Share, By Players
• Competitive Benchmarking

Markets Covered

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

By Types:

• Transmission Parts
• Frame and Fork Parts
• Wheel Parts
• Steering Parts

By Applications:

• Mountain Bicycles
• Road Bicycles
• Others

By Regions:

• Asia Pacific
• Europe
• Middle East
• Africa
• North America
• Latin America