Overview and Scope
Bicycle accessories are items that are added to a bike to enhance the rider’s experience. They can increase a rider’s safety, comfort, and convenience, as well as their personality and sense of flair.
Sizing and Forecast
The bicycle accessories market size has grown strongly in recent years. It will grow from $13.3 billion in 2023 to $14.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to rise in cycling enthusiasts, urbanization and commuting trends, cycling events and competitions, customization and personalization, influence of professional cycling.
The bicycle accessories market size is expected to see strong growth in the next few years. It will grow to $19.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rise in micromobility solutions, health and fitness integration, integration of artificial intelligence, shift towards electric bikes, sustainable and eco-friendly products. Major trends in the forecast period include integration of wireless technology, focus on lightweight and compact designs, fashionable and stylish designs, smart navigation and assistance, adoption of aerodynamic accessories.
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Segmentation & Regional Insights
The bicycle accessories market covered in this report is segmented –
1) By Product: Apparels, Components
2) Bicycle Type: Mountain Bikes, Hybrid Bikes, Road Bikes, Cargo Bikes, Other Bicycle Types
3) By Marketplace: Original Equipment Manufacturer (OEM), Aftermarket
4) By Sale Channel: Offline, Online
Asia-Pacific was the largest region in the bicycle accessories market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in e-bike sales is expected to propel the growth of the bicycle accessories market going forward. An electric bicycle refers to a motorized bicycle, with an electric motor used to assist propulsion. Bicycle accessories assist the rider in riding a bicycle by providing various accessories such as a helmet, battery, front lamp, rear lamp, front lamp, and alloy pedals. For instance, according to CONEBI (The European Association of the Bicycle, E-Bike, and Parts & Accessories Industries), a Belgium-based association, sales of e-bikes in the UK and Europe rose by 12% in 2021 compared to 2020. Therefore, an increase in e-bike sales drives the bicycle accessories market.
Key Industry Players
Major companies operating in the bicycle accessories market report are Continental AG, Garmin Ltd., Shimano Inc., Giant Manufacturing Co. Ltd., Trek Bicycle Corp., Fox Factory Inc., Accell Group N.V., Merida Industry Co. Ltd., Thule Group AB , ABUS August Bremicker Söhne KG, SRAM LLC, Specialized Bicycle Components Inc., DT Swiss, Campagnolo S.R.L, Samchuly Bicycle Co. Ltd., Scott Sports SA, Endura Ltd., Cannondale Bicycle Corporation, Mavic SAS, Eastman Industries Ltd., Blackburn Design, Sigma Sport, Selle Italia S.p.A., Avon Cycles Ltd., Park Tool Company, Lezyne USA Inc, BBB Cycling, Cateye Co. Ltd., Topeak Inc., Giro.
The bicycle accessories market report table of contents includes:
1. Executive Summary
2. Bicycle Accessories Market Characteristics
3. Bicycle Accessories Market Trends And Strategies
4. Bicycle Accessories Market – Macro Economic Scenario
5. Global Bicycle Accessories Market Size and Growth
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32. Global Bicycle Accessories Market Competitive Benchmarking
33. Global Bicycle Accessories Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bicycle Accessories Market
35. Bicycle Accessories Market Future Outlook and Potential Analysis
36. Appendix
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