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Bicycle Bearings Market

Global Market Study on Bicycle Bearings: Public Bicycle Rental Programs Instrumental to Market Build-up

Global Bicycle Bearings Market Segmentation by Bearing Type- (Ball Bearing, Plain Bearing, Roller Bearing). The Ball Bearing segment is estimated to witness a growth rate of around 7.0% over the forecast period.

Market Snapshot

Persistence Market Research recently released report on bicycle bearings market is estimated to witness a 6.7% CAGR in between 2023 to 2033. Demand for bicycle bearings is significantly influenced by certain macro-economic and demographic factors including population, demographic dividend, urbanization, etc.

Bicycle Bearings Sales (2022A)

US$ 5,850.5 Million

Bicycle Bearings Demand (2023E)

US$ 6,222.0 Million

Bicycle Bearings Market Projections (2033F)

US$ 11,900.7 Million

Value CAGR (2023 to 2033)

6.7%

Collective Value Share: Top 3 Countries (2023E)

67.2%

Bearing is utilized to reduce friction between two surfaces and are used in a variety of components, including shifters, pedals, bottom brackets, headsets, and suspension pivots on bicycles. To accomplish growth and profit from investments, prominent market participants continuously concentrate on cash flow and investing in new product innovations.

Bicycle is significantly used all over he globe with all economic background people and all age group use bicycle for execercises and their daily travel. Bicycle industry is expected to grow in countries where overweight and obesity is a key issue. Owing to emergence of innovative, incredibly durable and lightweight materials, the bicycle industry has undergone a significant transformation in the past few years. Modern manufacturing methods and technology are increasingly being used in the production of sports and mountain bikes, which is propelling the demand for bicycle bearings.

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Market Outlook for Bicycle Bearings Market  (2018 to 22) as Compared to Market Forecast (2023 to 33)

Sales of bicycle bearings increased at a CAGR of 6.0% between 2018 and 2022, where as the demand is estimated to witness a growth outlook of 6.7% in between the period of 2023 and 2033. Demand for bicycle bearings has seen a boom in sales owing to the increase in the sales of bicycle and bicycle components. The bearings business witness a certain dip down in the sales prospects during the pandemic crsis which has resulted in decrease in the historical growth rate.

Prior to the COVID-19 pandemic, demand has recovered to there pre pandemic growth, resulting in higher demand outlook for the forecast period. Notably, manufacturers are emphasizing the use of customized bearings to meet their changing requirements as a result of the increasing use of technological advances and digitalization. It has gotten to the point where there is a significant need for customized bearings that meet the requirement of bicycle specifications.

Demand for bicycles with aesthetic and safety features is booming due to environmental, health concerns, increased traffic congestion, and government measures to promote cycling, which will boost the market during the projected period.

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Market Dynamics

How thriving demand for ceramic bearings to flourish the market for bicycle bearings

Bearings are frequently formed of steel and are found in pedals, wheel hubs, bottom brackets, headsets, and jockey wheels. Currently, ceramic bearings have been in the focus and several market players are including ceramic bearings into their portfolio. In contrast to conventional bearings, which are constructed of stainless steel, ceramic bearings are built of ceramic silicon nitride (Si2N4), where the primary benefit of ceramic bearings is rolling resistance.

Reducing friction by making smoother surfaces, more uniform sizes, and rounder shapes, cranks and wheels may be spun with less energy. A ceramic bearing should also requires less maintenance as ceramic bearings are rustfree. Ceramic bearings are used in a variety of bike parts, including the hubs, bottom brackets, pulley wheels, and headsets, to reduce friction and extend their lifespan.

The bottom bracket of a bicycle is among the sites where ceramic bearings often are frequently used. Ceramic bearings are generally hybrid bearings, using steel bearing races with ceramic balls, these are suitable for off-road and on-road disciplines. The addition of larger pulleys or the upgrade of the jockey wheels, to ceramic bearings are two further ways to decrease energy waste on the rear derailleur.

How significant market traction for bicycles to create ample space for bicycle bearings demand generation?

Due to the growing public acceptance of bicycles as a way to improve health-related activities, the demand for bicycles has significantly grown. Bicycles have been utilized for transit and recreational purposes in addition to health and wellness, which is fueling the global growth in bicycles and component sales. Cycling is frequently advised as an aerobic activity since it helps fend off various illnesses, including arthritis, high blood pressure, diabetes, some cancers, high blood pressure, stress, and some forms of obesity.

Cycling is also used to manage, maintain, and lose weight. Many people opt for the use of bicycle to decrease carbon emissions at individual level, which is being observed in certain European countries. Sales volume of bicycle to remain prominent from India and China, owing to high population and higher preferce for bicycle.

Will Lack of Dedicated Cycling Tracks to Plunge the Demand Growth?

Bicycle market over the projected period depends upon a well-connected road network across several regions. This remains a key challenge as government authorities and manufacturers are still striving to lay cycling tracks and create a good network for cycles. Developing economies are focusing on creating a bicycle friendly infrastructure with suitable and safe cycling tracks witn no or minimum number of accident cases and injuries to consumers and safety.

In countries, like India, Indonesia, and Brazil, where the population is higher, very few dedicated cycling tracks are being so far constructed by the authorities. Subsequently, lack of dedicated cycling tracks hampers the demand for new bicycles sales and thereby impacting the bicycle components market.

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Country-wise Insights

How does China is contributing to the growth of the Bicycle Bearings Market?

China market for bicycle bearings is anticipated to advance at a steady growth over the forecast period. China's demand for e-bikes has increased as a result of the country's rising preference for eco-friendly and a fast transportation which is bolstering the demand bearings demand in bicycles. China is among the key manufacturer and consumer of bicycles and bicycle components worldwide.

Expanding fleet of bicycles spurred on by people using electric bicycles for transportation and recreation in public infrastructures such as parks is surging the demand for bicycles which has propel the demand. Development of the infrastructure, road connectivity and substantial population resulted in predominant sales of bicycle bearing accounting for around 48% of the global market share.

What is the market scenario of Bicycle Bearings in the Indian market?

The bicycle industry in India is estimated to be the second largest in the global market. In India, bicycles such as, standard, premium, kids, and exports are the four categories that make up the industry. Government purchases are the main source of demand for standard bicycles, which is the highest of all. These bicycles are acquired by government agencies through a tendering procedure and distributed as part of various welfare programs. Fitness and leisure requirements are what fuel the demand for premium bicycles.

The automobile sector in India is significantly developed and are witnessing ample growth. Bicycles are therefore quickly becoming recognized by governments and other authorities as a powerful tool for reducing pollution levels. All this demand surge in the sales of bicycles across India is flourishing the market for bicycle bearings and the market is expected to create around US$ 524.9 million of absolute dollar opportunities over the period of 2023 and 2033.

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Category-wise Insights

How does the ball bearings segment contribute to the bicycle bearings market?

Bicycle bearings sales was dominated by the ball bearings segment over past several years. A ball bearing is a type of rolling element bearing in which the bearing races are kept apart by the use of balls. A ball bearing's main functions are to support axial and radial loads and lessen rotational friction. Ball bearings can move in any direction and take relatively little effort to do so because of the low friction they experience.

The segment is estimated to witness a growth rate of around 7.0% over the forecast period. Bicycles employs ball bearing to lessen the friction when the wheel rotates. Ball bearings experience rolling friction, which is always lower than sliding friction. Less energy is lost because there is less friction. This allows for a prolonged motion while conserving the rider's energy.

Which sector of the economy is expected to be a prominent bicycle type for bicycle bearings?

Electric bike held a significant share in the global market. A combination of numerous macroeconomic and microeconomic factors is continuously shaping the demand for the segment. Ball bearings are substantially used in electric bicycles and the segment is expected to witness an increase in 530 basis point share in between the forecast period.

The demand for bicycle bearings appropriate for use with electric bicycles is expanding as electric bikes gain popularity and contribute to a reduction in carbon emissions globally. Cycling is adaptive, flexible, and good for the environment mode of transportation.

Competitive Landscape

Past few years remains dynamic owing to growing tendency in the bicycle bearings industry for integrated bearings, in which the bearing's supporting components are integrated into the bearing itself. Customers' interest is being stoked by the growing global need for application-specific solutions. Advanced simulation software tools are being used by bicycle bearing manufacturers to better align bearing designs with actual operating circumstances.

Consequently, bearing manufacturers are providing specialty bearings to meet particular needs in applications in the bicycle industry. Spending on R&D appears to be a strategic choice to be at the forefront of the market as the worldwide bicycle bearing sector battles regulatory requirements of emission, lighter goods with lower friction and noise, greater safety rules, increased reliability expectations, and global steel price changes.

Several manufacturing firms also keep putting their attention on precise sales forecasts and integrating technology in manufacturing to acquire a competitive edge globally.

For instance,

  • In Nov 2022, Schaeffler and the CERATIZIT Group have a deal in place for the purchase of CERASPIN. CERASPIN has more than 25 years of experience in the design and production of premium ceramic materials, the majority of which are transformed into rolling components for different bearing applications.
  • In Feb 2022, Schaeffler develops bearings for electromobility and expands its bearings business. Compared to normal bearings with two ball-bearing rows, the Schaeffler TriFinity triple-row bearing is more robust and has a longer service life. The face spline design paves the possibility for large bearing diameter reductions.

Scope of Report

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

  • USD Million for Value
  • Units for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • Gulf Co-operation Council Countries
  • Türkiye
  • South Africa

Key Segments Covered

  • Bearing Type
  • Bicycle Type
  • Sales Channel
  • Application Type
  • Region

Key Companies Profiled

  • Schaeffler Technologies AG & Co. KG
  • Boca Bearings, Inc.
  • AB SKF
  • NSK Ltd.
  • JTEKT Corp
  • NTN Corporation
  • Nachi-Fujikoshi Corp.
  • Endura Bearings
  • Hendersons Bearings
  • Jiangsu Wanda Special Bearing Co
  • Endura Bearings
  • National Engineering Industries Limited
  • SKF AB
  • Fuda Bearing Corporation Co
  • SMB Bearing
  • Yuyao Bote Bearing Co

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available Upon Request

Bicycle Bearings Market Segmentation

By Bearing Type:

  • Ball Bearing
  • Plain Bearing
  • Roller Bearing

By Bicycle Type:

  • Mountain Bike Bearings
  • Hybrid Bike Bearings
  • Electric Bicycle Bearings
  • Comfort Bicycle Bearings
  • Cruiser Bicycle Bearings
  • Youth Bicycle Bearings
  • Road Bicycle Bearings

By Sales Channel:

  • OEM
  • Aftermarket

By Application Type:

  • Wheel Hubs Bearings
  • Frame Pivot Bearings
  • Pedals Bearings
  • Steering Columns Bearings
  • Bottom Bracket Bearings
  • Gear Shifters Bearings
  • Chain Pocket Bearings
  • Suspension Bearings

By Region:

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

- Companies Covered in This Report -

  • Schaeffler Technologies AG & Co. KG
  • Boca Bearings, Inc.
  • AB SKF
  • NSK Ltd.
  • JTEKT Corp
  • NTN Corporation
  • Nachi-Fujikoshi Corp.
  • Endura Bearings
  • Hendersons Bearings
  • Jiangsu Wanda Special Bearing Co
  • Endura Bearings
  • National Engineering Industries Limited
  • SKF AB
  • Fuda Bearing Corporation Co
  • SMB Bearing
  • Yuyao Bote Bearing Co

- Frequently Asked Questions -

The global market of bicycle bearings has reported a valuation of US$ 5,850.5 million in 2022.

The global market of bicycle bearings is estimated to reach a valuation of US$ 6,222.0 million in 2023.

The global market of bicycle bearings is estimated to reach a valuation of US$ 11,900.7 Million in 2033.

The global market of bicycle bearings has exhibited a value CAGR of 6.0% over the last four Years.

The global market of bicycle bearings has projected a value of CAGR of 6.7% from 2023 to 2033.

According to estimates, the bicycle bearings market represents a significant portion of the global market, accounting for around 65.3% of the whole.

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