Bicycle Brake Component Market

Bicycle Brake Component Market By Brake Type (Rim Brakes, Disc Brakes), By Bicycle Type (Mountain, Hybrid, Road, Comfort, Youth, Cruiser, Electric), By Sales Channel (OEMs, Aftermarket), and By Region – Global Market Report (2024 to 2034)

Analysis of Bicycle Brake Component Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Bicycle Brake Component Market Outlook (2024 to 2034)

The global bicycle brake component market is projected to reach a size of US$ 6.37 billion in 2024 and is forecast to reach a value of US$ 12.54 billion by 2034, with a projected CAGR of 7% from 2024 to 2034.

Several cycling events are conducted in many parts of the world, be they professional or amateur racing tournaments. This is projected to lead to lucrative opportunities for new markets for aftermarket and OEM component suppliers. Terrain type, weather, ride mechanics, and material selection are some of the prominent factors that impact the lifespan of the parts of bicycle brakes.

A growing population is leading to the adoption of bicycles as one of the most popular modes of transportation, owing to increasing awareness about carbon emissions. More individuals are focusing on minimizing their carbon footprints with the adoption of sustainable commute modes. Cycling is one such practice that helps people contribute to environmental sustainability, which is further driving the bicycle brake component market growth.

  • Sales of bicycle brake components in the United States are projected to rise at a CAGR of 7.3% and reach US$ 2.12 billion by the end of 2034.
  • Demand for bicycle brake components in South Korea is foreseen to increase at a CAGR of 7.8% from 2024 to 2034.
  • Electric bikes are projected to account for 28.9% of the bicycle brake component market share by 2034.

Cycling is an environment-friendly and healthy way to exercise and commute. The growing awareness of the benefits of cycling is projected to lead to rising sales of bicycles and their brake components. Furthermore, the market is undergoing noteworthy technological advancements, including the development of novel designs and materials. These advancements are estimated to help manufacturers improve the safety and performance of bicycle brakes.

In recent years, there has been an increase in the popularity of bike-sharing programs as an initiative to reduce environmental pollution and minimize traffic congestion. These bicycles are easily available for rent, and thus consumers need not purchase new ones for use. This initiative is projected to influence the bicycle brake component market trends.

Report Attributes Details
Bicycle Brake Component Market Size (2024E) US$ 6.37 Billion
Forecasted Market Value (2034F) US$ 12.54 Billion
Global Market Growth Rate (2024 to 2034) 7% CAGR
East Asia Market Share (2034F) 52.8%
Canada Market Growth Rate (2024 to 2034) 8.1% CAGR
Rim Brakes Segment Market Share (2034F) 64.2%
Key Companies Profiled
  • Ashima Ltd.
  • Campagnolo S.r.l.
  • BBB Cycling
  • Hayes Bicycles Group Inc.
  • Full Speed Ahead S.r.l.
  • Clarks Cycle Systems Ltd.
  • Shimano Inc.
  • Industrias Galfer S.A.
  • Hope Technology (IPCO) Ltd.
  • Tektro Technology Corporation
  • Rex Articoli Tecnici SA

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What is Driving Worldwide Demand for Bicycle Brake Components?

“Growing Adoption of Bicycles as Crucial Part of Recreational and Fitness Activities”

The growing use of bicycles as a critical part of recreational and fitness activities is projected to contribute to the rising demand for bicycle brake components. There are several physical and mental benefits associated with cycling. More individuals, including men, women, and kids, are riding bicycles to improve their health and fitness. Therefore, the growing number of consumers opting for cycling as one of the popular forms of leisure is contributing to the revenue share of the suppliers of bicycle brake components.

“Environmental Concerns Leading to Adoption of Cycling as Eco-friendly Transportation Mode”

In recent times, there has been an increase in awareness regarding environmental sustainability. A growing number of individuals are focused on reducing carbon emissions, leading to an increased adoption of bicycles as a favored eco-friendly mode of transportation. This shift is projected to boost the bicycle brake component market share, driven by people seeking to customize or upgrade their bikes in line with eco-conscious transportation choices.

What are the Obstructions to Global Market Growth?

“High Prices of Bicycle Brake Components and Availability of Counterfeit Products”

The price of bicycle brake components is comparatively high, which is projected to deter some of the potential buyers from purchasing products. In addition, the availability of some counterfeit brake components is forecast to limit the revenue share of the original brands.

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Which Market Trends are Startup Companies Capitalizing On?

“Focus on Production of Electric Bikes Amid Rising Environmental Concerns”

The need for safer transportation, coupled with rising pollution levels and higher fuel costs, is driving the demand for electric bikes. Developed nations are witnessing a rising interest in e-bikes due to stringent emission regulations. Start-ups must invest in technological advancements, particularly by engaging in research and development activities focused on creating bespoke braking systems for bicycles.

Country-wise Insights

As per the analysis published by Fact.MR, a market research and competitive intelligence provider, East Asia is projected to account for a 52.8% share of the global market by the end of 2034. The presence of a huge bicycle fleet along with easy access to the developing bike paths, is projected to contribute to the sales of bicycle parts, including brake components.

How is the Market for Bicycle Brake Components Faring in the United States?

“Increasing Initiatives for Development of Smart Cities to Meet Sustainability Goals”

Attribute United States
Market Value (2024E) US$ 1.05 Billion
Growth Rate (2024 to 2034) 7.3% CAGR
Projected Value (2034F) US$ 2.12 Billion

The United States is forecast to hold a 66.7% share of the North American market by 2034. The dominance of the country is owing to the well-established technological infrastructure and increasing initiatives taken for smart cities emphasizing sustainability practices. In addition, the presence of some prominent players in the United States is also estimated to drive opportunities for players in the coming 10 years. Further, increasing R&D activities for product advancements are also contributing to the revenue stream.

Why is China a Lucrative market for Bicycle Brake Component Suppliers?

“Availability of Extensive Cycle Paths and Presence of Large Fleet of Bicycles”

Attribute China
Market Value (2024E) US$ 2.37 Billion
Growth Rate (2024 to 2034) 6.5% CAGR
Projected Value (2034F) US$ 4.45 Billion

China is forecast to account for a 67.3% share of East Asia market revenue by the end of 2034. The presence of a huge fleet of bicycles and their components in China is projected to contribute to revenue streams. Further, easy access to cycle paths in the country is leading to the expansion of the bicycle brake component market. Easy access to raw materials, the availability of a workforce, and manufacturing expertise in China drive market growth.

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Category-wise Insights

Fact.MR in its newly published research analysis asserts that worldwide demand for bicycle brake components for electric bikes is projected to increase significantly. The increasing popularity of e-bikes owing to their low or minimal emissions and adherence to stringent emission regulations is leading to their increased adoption by environment-conscious people. This is ultimately resulting in the rising sales of bicycle brake devices.

Which Braking System is Extensively Used in Bicycles?

“Increasing Adoption of Rim Brakes as Efficient Braking Systems”

Attribute Rim Brakes
Segment Value (2024E) US$ 4.03 Billion
Growth Rate (2024 to 2034) 7.2% CAGR
Projected Value (2034F) US$ 8.05 Billion

Rim brakes are forecast to account for a 64.2% share of the global market by 2034. Rim brakes are gaining prominence among customers as one of the most efficient braking systems and are therefore used extensively.

Which Bicycle Type Occupies a Leading Market Share?

“Electric Bikes Lead Revenue Generation Due to Rapidly Increasing Sales”

Attribute Electric Bikes
Segment Value (2024E) US$ 1.45 Billion
Growth Rate (2024 to 2034) 9.6% CAGR
Projected Value (2034F) US$ 3.62 Billion

Electric bikes are projected to account for a 28.9% share of the global market by 2034, as per Fact.MR’s analysis. This prominence of electric bikes is attributed to their popularity among more consumers owing to their environment-friendly nature. They can help minimize carbon emissions to match set regulations. In addition, the growing popularity of sports activities on different terrains is projected to contribute to the rising demand for bicycles and related brake components.

Competitive Landscape

Several market players in the bicycle brake component industry are involved in the production of advanced bicycle components, such as braking systems. They aim to offer a diverse product range while retaining their position. Furthermore, increased investments by these entities in novel advancements and fortifying systems related to supply chain management, quality control, and other areas can provide them with a competitive advantage.

For instance :

  • Bosch e-Bike Systems, in July 2022, launched novel anti-lock brake systems for use in e-bikes. The company is emphasizing the use of ABS to avoid e-bike accidents.

Ashima Ltd., Campagnolo S.r.l., BBB Cycling, DIA-COMPE TAIWAN Co., Ltd., Hayes Bicycles Group Inc., Full Speed Ahead S.r.l., Clarks Cycle Systems Ltd., Shimano Inc., Industrias Galfer S.A., SRAM LLC, Hope Technology (IPCO) Ltd., Tektro Technology Corporation, and Rex Articoli Tecnici SA are prominent players in the bicycle brake component market.

Segmentation of Bicycle Brake Component Market Research

  • By Brake Type :

    • Rim Brakes
    • Disc Brakes
  • By Bicycle Type :

    • Mountain
    • Hybrid
    • Road
    • Comfort
    • Youth
    • Cruiser
    • Electric
  • By Sales Channel :

    • OEMs
    • Aftermarket
  • By Region :

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

- FAQs -

How much is the bicycle brake component market worth?

The global bicycle brake component market is estimated at US$ 6.37 billion in 2024.

What are the projected sales of bicycle brake components for 2034?

Sales of bicycle brake components are projected to reach US$ 12.54 billion by the end of 2034.

What is the demand growth projection for bicycle brake components?

Global demand for bicycle brake components is forecasted to rise at a CAGR of 7% from 2024 to 2034.

What is the projected contribution of East Asia to global market revenue by 2034?

East Asia is forecasted to account for 52.8% share of the global market by the end of 2034.

At what rate is the demand for bicycle brake components forecasted to increase in Canada?

Demand for bicycle brake components in Canada is projected to increase at a CAGR of 8.1% from 2024 to 2034.

What is the principle of braking?

Braking prevents the wheel from turning by applying friction between the rotating elements linked to the wheels or non-rotating elements linked to the body.

- Also of Interest -

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Bicycle Brake Component Market

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