Bicycle Brake Components Market - Global Benzyl Chloride Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, By Geographic Coverage and By Company)

Bicycle Brake Components Market - Global Benzyl Chloride Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, By Geographic Coverage and By Company)

The global bicycle brake components market is projected to rise from US$6.31 Bn in 2024 to US$10.5 Bn by 2031, at a steady CAGR of 7.5% during the forecast period. Driven by increasing popularity of cycling, e-mobility initiatives, and the integration of advanced braking systems, the market is poised for significant growth.

Market Insights

Bicycles are becoming a popular mode of transportation, with cycling events and recreational biking gaining traction worldwide. The rise of electric bikes (e-bikes) is another key factor driving demand for advanced braking components. Disc brakes, in particular, accounted for more than 30% of the market share in 2024 and are expected to maintain their dominance, especially in road and mountain bikes.

Market Drivers

1.Health and Fitness Trends: Growing awareness around health and fitness, coupled with the need for eco-friendly transportation, is increasing bicycle usage globally. As more people embrace cycling for recreation and transportation, the demand for high-performance brake components is surging.

2.Rise of E-bikes: E-bikes offer an efficient, eco-friendly alternative to traditional bicycles, with robust braking systems required to handle their increased speed and weight. Governments in regions like Europe, North America, and Asia are promoting e-mobility by offering subsidies and incentives for electric vehicles, further driving market growth.

3.Technological Advancements: The development of lightweight, aerodynamic brake components and the emergence of electronic shifting systems are key innovations shaping the future of the market. The integration of electronic braking systems (EBS) offers improved braking performance, precision, and control, particularly appealing to tech-savvy cyclists and performance enthusiasts.

Business Opportunities

The integration of electronic braking systems (EBS) represents a promising business opportunity for market players. EBS incorporates sensors, actuators, and electronic control units, allowing for advanced features such as precise modulation and automatic adjustment. Manufacturers have the potential to capitalize on this growing trend by developing EBS components for performance-oriented and recreational cyclists alike.

Furthermore, electric bicycles (e-bikes) showed remarkable growth in 2024, expanding at a CAGR of 9.6%. The increasing adoption of electric vehicles, coupled with growing environmental concerns, is expected to fuel demand for electric bicycles and their brake components.

Challenges Facing the Market

Despite the positive growth trajectory, the bicycle brake components market faces certain challenges. Rising raw material costs, largely due to international supply chain disruptions and geopolitical factors such as the Russia-Ukraine war, have resulted in increased production expenses. Aluminium prices, for instance, have surged by 63%, significantly impacting the cost of bicycle manufacturing. Additionally, ongoing logistics issues and shortages of key parts have hindered the ability of manufacturers to meet demand efficiently.

Regional Analysis

1.East Asia: The East Asia region, comprising countries such as China, Japan, and Taiwan, is projected to remain the frontrunner in the global bicycle brake components market. It accounted for 55.8% of the market share in 2024 and is expected to maintain its dominance due to the presence of a strong manufacturing base for bicycles and related components. Mainland China and Taiwan are key players in the global supply chain for bicycle production, attracting numerous foreign investments.

2.South Asia & Pacific: This region is projected to witness an impressive CAGR of 7.7% during the forecast period. India, in particular, stands out as a growing market for bicycle brake components, with over 11 million bicycles sold between 2021 and 2022. The country’s large middle-class population and the push towards socially distanced travel during the pandemic have spurred demand for bicycles and brake components.

Key Players in the Market

The global bicycle brake components market is highly competitive, with key players focusing on product innovation and expanding their regional presence. Some of the leading companies in the market include:
• 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

Bicycle Brake Components Market Segmentation

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
• The Middle East & Africa

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