Gearing Up: Bicycle Components Aftermarket to Reach US$ 28.3 Billion by 2033

The Bicycle Components Aftermarket valued at US$ 14 billion in 2022, is estimated to reach US$ 14.62 billion in 2023. According to analysis by FMI, the market is projected to expand at a Compound Annual Growth Rate (CAGR) of 6.9% between 2023 and 2033, reaching approximately US$ 28.3 billion by 2033.

Several factors are driving this growth. Firstly, the increasing popularity of cycling, driven by high traffic volumes and concerns for rider safety, has led to a surge in the adoption of bicycle accessories. Additionally, bicycling is gaining traction as a leisure activity, prompting steady growth in the adoption of bicycle components. Moreover, bicycles are being increasingly recognized as a convenient mode of transportation for maintaining a healthy and physically fit lifestyle, further bolstering the demand for bicycle components over the forecast period.

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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).

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:

  1. Dorel Industries, Inc.
  2. Accell Group N.V.
  3. Shimano Inc.
  5. Hero Cycles Limited
  6. Campagnolo S.R.L.
  7. Merida Industry Co. Ltd.
  8. Specialized Bicycle Components
  9. Rohloff AG
  10. Giant Manufacturing Co. Ltd.
  11. Avon Cycles Ltd.

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Key Segments Covered are:

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 Channel

By Bicycle Type:

  • Mountain Bike
  • Hybrid/Cross
  • Road
  • Comfort
  • Youth
  • Cruiser
  • Recumbent/Tandem
  • Electric
  • Folding

By Region:

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


Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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