The anticipated size of the bicycle components aftermarket in 2022 was USD 14 billion and is estimated to be USD 14.62 billion in 2023.
The increasing popularity of cycling with a high volume of traffic and resulting congestion, has coupled up with concerns for rider safety thus contributing to a surge in the adoption of bicycle accessories. According to FMI analysis, the bicycle components aftermarket is anticipated to expand at a CAGR of 6.9% between 2023 and 2033, totaling around USD 28.3 billion by 2033.
Global bicycle components aftermarket reached a valuation of USD 13.5 billion in 2021. Road group sets segment by component type are expected to account for more than half of the total bicycle components aftermarket sales by the end of the forecast period.
Growing popularity of bicycling as a leisure activity is expected to fuel the growth in the bicycle component market. Bicycles are expected to grow in popularity as a convenient mode of transportation for living a healthy and physically fit life, due to which the adoption of bicycle components is expected to grow steadily over the forecast period.
The Bicycle Components Aftermarket is experiencing significant growth due to the increasing popularity of cycling for fitness, commuting, and recreational purposes. The surge in e-bike adoption, growing awareness around health, and rising preference for customization and upgrades have fueled demand for high-quality aftermarket bicycle parts.
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Key Takeaways
Rising demand for replacement and performance-enhancing bicycle parts
Growth of the urban cycling culture and government focus on sustainable transportation
Expanding e-commerce platforms and direct-to-consumer sales boosting aftermarket accessibility
Increasing DIY bike maintenance trends among cycling enthusiasts
Key Drivers
Surge in cycling as a lifestyle and fitness activity
Expansion of cycling infrastructure in urban areas
Increasing sales of electric bikes (e-bikes) and premium bicycles
Growing popularity of cycling events and sports
Types of Components for Aftermarket and Bicycles
Drivetrain Systems: Performance and Efficiency Solutions
Drivetrain parts, such as chains, cassettes, derailleurs, and cranksets, are among the most frequently replaced components in the bicycle aftermarket. As approximately 200 million bicycles bought each year, the depreciation of parts through usage has become a norm for drivetrain systems, ensuring the necessity for a time-tested and credible supply.
Cyclists, be it worn or upgraded ones, are of the opinion that having a better shifty is almost certainly the first reason to choose new. The e-bike drivetrain repowering market is thriving the most with the introduction of the new lightweight alloy and carbon cranksets by key players, which are mainly focused on performance cycling. Besides the trend toward DIY bike maintenance, which is the primary driver behind the sales growth of online platforms, aftermarket brands are benefiting from it.
Braking Components: Precision and Safety as Priority
Braking systems, especially disc brakes and brake pads, are a significant aftermarket category due to their direct influence on rider safety and control. The transition from rim brakes to hydraulic disc brakes in road and mountain bikes has shifted the aftermarket demand for calipers, rotors, and lever kits.
Nearly 80% of high-performance bikes now come with disc brakes, especially in the USA and Europe, providing the consumer with the luxury of selecting premium aftermarket parts that have better modulation and shorter stopping distance.
Regarding all-weather brake pads commuter cyclists in the UK and Japan, who live in the rain, put upgraded brake pads on their bikes. The increase in the number of urban cycling safety regulations has also fostered prompt brake system replacements and additions.
Growth Opportunities
Introduction of lightweight, durable, and smart components
Demand for custom and aesthetic modifications
Expansion in emerging markets with rising cycling adoption
Partnerships between OEMs and aftermarket brands
Key Components in Demand
Drivetrain Systems (chains, derailleurs, cassettes)
Braking Systems (disc brakes, calipers, brake pads)
Wheels and Tires
Handlebars, Saddles, and Pedals
Suspension Systems
E-bike batteries and electronics
Lighting and Safety Accessories
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Key Players
Shimano Inc.
SRAM LLC
Campagnolo S.r.l.
Bosch eBike Systems
Tektro Technology Corporation
Giant Manufacturing Co., Ltd.
Accell Group
Specialized Bicycle Components
Trek Bicycle Corporation
DT Swiss
Key Segmentations
By Component Type – Mechanical, Electrical, Safety & Aesthetic
By Bike Type – Mountain Bikes, Road Bikes, Hybrid, E-Bikes
By Distribution Channel – Offline Retail, Online Stores
By Region – North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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