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Bicycle Brake Components Market

Global Market Study on Bicycle Brake Components: Increasing Usage of Bicycles for Healthy Lifestyle to Augment Market Growth

Global Bicycle Brake Components by Product Type (Rim Brake, (Caliper, Brake Lever, Brake Cable) and Disc Brake (Rotor, Caliper, Brake Lever, Brake Cable Hose)

Bicycle Brake Components Snapshot

[300 Pages] By the year 2023, Persistence Market Research estimates sales of bicycle brake components to total $5,957.0 million. Growing awareness about health and fitness has made bikes one of the most popular methods of transportation amongst commuters. With numerous biking trails being developed around cities and countries, there is an increased need for durable bike parts that can withstand long rides on rough terrain. Additionally, cycling events have been gaining momentum worldwide - creating further impetus for manufacturers to produce high-quality brake components that are accessible to all kinds of riders.

East Asia remains a prominent manufacturing base for bicycle components. The presence of a huge fleet of bicycles and large number of easy to access bike paths have made the China a key market for bicycle components and associated industries. Key factors which have benefited the Chinese cycling industry include easy availability of raw material, manufacturing expertise and availability of work force. The region is projected to account for more than half of the market value share by the end of forecast period.

Global Bicycle Brake Components Size (2022A)

US$ 5,585.9 Million

Global Bicycle Brake Components Size (2023E)

US$ 5,957.0 Million

Projected Bicycle Brake Components Value (2033F)

US$ 11,718.2 Million

Value CAGR (2023–2033)

7.0%

Collective Value Share: Top 3 Countries (2023)

66.5%

The Covid–19 outbreak encouraged individuals in Europe and the U.S. to use bicycles instead of public transit, which was very beneficial to the cycling industry. The popularity of leisure sports also fuelled the market for premium and electric bicycles. For market stakeholders that manufacture components, revenue in the first three quarters of 2021 and profits in the first half of the year both reached record highs.

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Sales Analysis of Bicycle Brake Components Market from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Historically, the Bicycle Brake Components market witnessed a CAGR of 4.8% from 2018 to 2023, with regions such as East Asia and South Asia & Pacific holding a significant part of the global market.

Cycling events are now conducted in various parts of the world, be it amateur or professional racing tournaments. This has opened up a new market for OEM and aftermarket component suppliers, offering them an opportunity to increase their revenue streams. In light of this, the market is poised to embark on a positive growth trajectory until 2033.

A variety of factors, including material selection, ride mechanics, weather, and terrain type, influence the typical lifespan of bicycle brake parts. However, a significant number of these parts need to be replaced after a set amount of time. Bicycle brake pads typically need to be replaced every 400 to 2,000 miles of use, depending on whether distance causes the brake pad to wear out more quickly. Disc rotors are also replaced when they badly wear out, which is indicated by vibrations in the pedal. These elements all contribute to increased sales of bicycle brake components.

The global bicycle brake components market is projected to grow at a CAGR of roughly 7.0% over the forecast period.

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What are the key Trends observed in the Market?

“Promotion of e-Mobility in Developed Countries to Augment Market Growth”

The necessity for safer transportation as well as rising pollution levels and fuel expenses are driving up demand for electric bikes. Due to stringent government rules, developed regions like Europe, particularly the Netherlands, have witnessed a relatively greater growth rate for this bikes than other countries. Governments in Australia, Asia, Europe, and North America are also providing subsidies for the use of electric bikes.

Manufacturers of OEM bicycle brake components have already begun to invest in the advancement of braking technologies in response to this demand. They also actively participate in the research and development of braking systems tailored exclusively for the electric bike industry, which in turn drives the market for bicycle brake components globally.

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What are the Challenges faced by the Bicycle Brake Components Manufacturer?

International raw material prices and production expenses in the bicycle industry have increased dramatically because of the epidemic's disruptions and the ongoing Russian–Ukrainian war. The market did witness increased sales in 2020 and 2021, although the year 2022 saw a decline in the gross profit margins of several businesses, including OEMs, bicycle foundries, spare parts factories, and OEMs. As a result, many businesses adopted a monthly rolling adjustment of quotations.

Aluminium prices have increased by as much as 63%, and 30–40% of the cost of a bicycle's materials are made of aluminium. Regarding bicycle parts, depending on the grades, the average growth has been between 20% and 30%. In addition to that, the export price of complete bicycle has increased by 10% to 20%.

The prominent challenge faced by market stakeholders in the bicycle brake component market has been fulfilling orders. The average delivery rate of orders has only been roughly 80% recently due to the shortage of parts brought on by disruptions in the international market. The sector has had to deal with a number of commercial difficulties because of the conflict between Ukraine and Russia, inflation, rising raw material prices, a lack of materials, and bad logistics.

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Country–wise Analysis

Which Region holds prominent share in the Global Bicycle Brake Components Market?

The East Asia region will remain dominant throughout the forecast period and is estimated to account for 55.8% of market share on value basis.

In recent years, there have been numerous foreign expansions into countries like China, Japan, and Taiwan. The availability of niche resources and rising population result for this trend. Mainland China and Taiwan are at the forefront of bicycle manufacturing. As a result, they draw many allied businesses from their domestic regions. Thus, manufacturers choose to operate such facilities out of Europe, and especially in this growing market, which leads to East Asia having the prominent market share in global bicycle brake components market share.

Which Country provides lucrative Opportunity for Bicycle Brake Components Market?

The South Asia and Pacific region will witness a CAGR of 7.7% during the assessment period and will remain attractive region for bicycle brake component market. India stands out among all countries as a market that is very open to opportunity, thanks to the presence of a sizable middle-class population.

Over 11 million bicycles were sold between 2021-22, according to the All India Bicycle Manufacturers Association (AICMA), as people understood the value of maintaining appropriate social distance during the pandemic crisis as well as the importance of enhancing physical fitness.

In order to be competitive in the export market, The Indian bicycle brake component market has become a lucrative one in recent years, with India being ranked among the top bicycle exporters in the world. However, stakeholders in this market need to overcome a number of obstacles if they are to maintain their competitive edge. These include export and import duties, certifications and compliance with local regulations. In addition, the rising cost of raw materials has made it difficult for businesses to remain competitive.

Furthermore, there is also the challenge of ensuring quality control standards for exported components. This can be difficult for companies that do not have access to advanced technology or resources needed for quality assurance tests and certifications. Additionally, due to the lack of standardization across various export markets, companies often find themselves unable to meet customer requirements efficiently or economically.

Category–wise Insights

Which bicycle type commands a significant share in global bicycle brake components market?

By bicycle type category, electric bicycles are anticipated to provide significant growth potential through the end of the forecast period, growing at a CAGR of 9.6% in terms of value. Future growth is probably going to be fuelled by the widespread use of electric vehicles to meet growing carbon emission issues.

Hybrid bicycles will also witness growth opportunities at the same time due to the rising desire for multi–functionality in bicycle activities. Growth potential is being driven by an increase in sporting activities on various terrains. By the end of 2023, the segment should generate over 14% of total revenue.

Which product type category will lead the Global Bicycle Brake Components Market?

By product type, the disc brake segment will lead the market and is estimated to account for more than 30% of the market share by 2023.

The hydraulic disc brake have gained significat popularity, with extensive adoption on road bicycles. In last few year, disc brakes have dominated the brakes category particular rim brakes, which press brake pads up against the rim of the wheel. There are valid arguments in favour of that, prominently improved efficiency and reliable stopping regardless of the weather.

Competition Analysis

Over the past few years, bicycle manufacturers have set up independent production and manufacturing facilities for bicycle components, including braking systems. They are aiming to become one-stop suppliers for all parts of a bicycle to end users, so that they retain their market position in the bicycle brake components market. This has given rise to a lot of competition related to products, regional expansions, and the provision of different services. These factors provide an opportunity for the bicycle brake components market to grow steadily in the future.

The bicycle brake components market is projected to be highly fragmented in nature, with a handful of tier–1 players occupying around one–fifth share in the global market. Few of active and leading participants in the global bicycle brake components market include Campagnolo S.r.l., Clarks Cycle Systems Ltd., Industrias Galfer S.A., Shimano Inc., SRAM LLC, Tektro Technology Corporation, Hope Technology (IPCO) Ltd., and Rex Articoli Tecnici SA, amongst others.

  • In July, 2022, Bosch eBike Systems launched new anti–lock brake systems for e–bikes and according to company 29% of e–bike accidents would be avoided if the riders had ABS.

Bicycle Brake Components Industry Report Scope

Attribute

Details

Forecast Period

2023–2033

Historical Data Available for

2018–2022

Market Analysis

  • US$ Million for Value
  • ‘000 Units for volume

Key Regions Covered

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

Key Countries Covered

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

Key Market Segments Covered

  • By Product Type
  • By Installation Method
  • By Application
  • By End User
  • By Region

Key Companies Profiled

  • Ashima Ltd.
  • BBB Cycling
  • Campagnolo S.r.l.
  • DIA–COMPE TAIWAN Co., Ltd.
  • Full Speed Ahead S.r.l
  • Hayes Bicycles Group Inc.
  • Clarks Cycle Systems Ltd.
  • Industrias Galfer S.A.
  • Shimano Inc.
  • SRAM LLC
  • Tektro Technology Corporation
  • Hope Technology (IPCO) Ltd
  • Rex Articoli Tecnici SA

Pricing

Available upon Request

Key Segments Covered in Bicycle Brake Components Industry Research

By Disc Type

  • Rim Brake
    • Caliper
    • Brake Lever
    • Brake Cable
  • Disc Brake
    • Rotor
    • Caliper
    • Brake Lever
    • Brake Cable Hose

By Bike Type

  • Mountain
  • Hybrid
  • Road
  • Comfort
  • Youth
  • Cruiser
  • Electric

By Sales Channel

  • OEM
  • Aftermarket

By Region

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

- Companies Covered in This Report -

  • Ashima Ltd.
  • BBB Cyclimg
  • Campagnolo S.r.l.
  • DIA–COMPE TAIWAN Co., Ltd.
  • Full Speed Ahead S.r.l
  • Hayes Bicycles Group Inc.
  • Clarks Cycle Systems Ltd.
  • Industrias Galfer S.A.
  • Shimano Inc.
  • SRAM LLC
  • Tektro Technology Corporation
  • Hope Technology (IPCO) Ltd
  • Rex Articoli Tecnici SA

- Frequently Asked Questions -

The Global Bicycle Brake Components is estimated to be valued at over US$ 5957.0 Million as of 2023.

Bicycle Brake Components are projected to increase at 7.0% CAGR and is expected to be valued at around US$ 11718.2 Million by 2033 end.

Ashima Ltd., BBB Cyclimg, Campagnolo S.r.l., DIA–COMPE TAIWAN Co., Ltd., Full Speed Ahead S.r.l, Hayes Bicycles Group Inc. are some of the leading players in the overall market.

East Asia region to dominate the market for Bicycle Brake Components over the forecast period 2023–2033.

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