Bicycle Components Market Overview
Bicycles are vehicles that consist of two wheels attached to the bicycle's main frame. It consists of different components and each component has an important use. Some of the bicycle's main constructional components are made by aluminum, carbon fiber, titanium, and steel. The bicycle components consist of a down tube, head tube, seat tube, bottom bracket shell, chain stays, and seat stays. Bicycles are generally used for transportation purposes and are helpful for moving goods and people from one place to another. Increasing awareness regarding the health benefits of cylcling is driving the demand for bicycles along with its components. There are different types of components associated with the bicycle are dynamo, bar ends, belt drive, bearing, bell, saddle, forks, and brake, among others. The main parts of the bicycle are the frame, seat, wheels, and handlebars.
Market Drivers
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Increasing the use of bicycles as a part of fitness and leisure activities is driving the growth of the global bicycle components market
The increasing usage of bicycles as part of fitness and recreational activities is the major factor that drives the demand for the global bicycle components market. Bicycles provide many mental and physical benefits, and customer acceptance of bicycles to increase fitness and health activities is growing. Regular physical activity, such as cycling, helps to protect the body from serious disorders such as obesity, cancer, mental illness, heart disease, diabetes, and arthritis. A sedentary lifestyle is a risk factor for several of these conditions, and recreational cycling is one strategy to reduce the risks associated with inactivity. Cycling is a simple, low-impact workout that can truly change a person's life. It's also entertaining, environmentally friendly, and cost-effective. Cycling can easily be incorporated into a weekly program and riders can ride their bicycles to work, utilize them to go around town, or simply join together with friends and family for a social ride. Cycling may be a lifelong activity because it can be enjoyed by people of all ages. Thus, increasing the use of bicycles as a recreational activity drives the demand for bicycle components.
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Growing urbanization coupled with the emphasis on sustainable transportation is influencing the growth of the global bicycle components market.
Global Bicycle Components Revenue by Regions (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
XX |
XX |
Global bicycle components market was valued at USD XX Billion, in 2022 and is expected to grow at a CAGR of 6.5% over the forecast period, from 2023 to 2030.
Global Bicycle Components Market Segmentation Analysis
By Type
• Suspensions Forks
• Mirrors
• Saddle
• Wheel Sets
• Bar end grips
• Brakes
• Mudflaps
• Horns
• Gears
• Others
By Bicycle Type
• Mountain Bikes
• Hybrid/Cross Bikes
• Road Bikes
• Cargo bikes
• Others
On the basis of bicycle type, the market is segmented into mountain bikes, hybrid/cross bikes, road bikes, cargo bikes, and others. In 2022, the road bicycle segment held the largest market share and is expected to retain its dominating position throughout the forecast period. As road bicycles are the most basic vehicles, which do not need any sophisticated accessories, such as those required by the mountain, racing, or other special-purpose bicycles. The mountain bicycle segment is expected to grow with a significant CAGR during the projected period owing to the rising importance of leisure and adventure activities.
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Global Bicycle Components Market, by Bicycle Type |
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Source: Cognitive Market Research |
By Material
• Continuous Fiber Composites
• Discontinuous Fiber Composites
• Metals
• Others
By Sales Channel
• Specialty Bicycle Retailers
• Department Stores
• Full-line Sporting Goods Stores
• Outdoor Specialty Stores
• Other Sales Channel
Key manufacturers
• Cannondale Bicycle
• Accell Group N. V.
• Giant Manufacturing co Ltd
• Currie technology
• Atlas cycles Ltd
• Avon Cycle ltd
• Trek bicycle corporation
• Marin Bikes
• Merida Industry co ltd
• SR Suntour Inc.
Related Report
• Global Bicycle Accessories Market
• Global Mountain Bike Market
• Global Kids Bicycle Market
• Global E-Bike Market
• Global Bike-Sharing Service Market
• Global Cargo Bike Market
Global Bicycle Components Manufacturers Profiles/Analysis
Giant Manufacturing Co. Ltd
Giant Manufacturing Co. Ltd Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
Giant Manufacturing Co. Ltd |
|
2 |
Website |
www.giant-bicycles.com |
|
3 |
Established Date |
1972 |
|
4 |
Headquartered |
Taichung City, Taiwan |
|
5 |
Market Position/ History |
In 1972, Giant Manufacturing Co. Ltd was founded in Taichung City, Taiwan. In 1981, the company launched its brand of bicycle. In 1987, Giant Manufacturing Co. Ltd introduced the CADEX carbon fiber road bike becoming the first bicycle maker to apply computer-aided design and volume production techniques to the production of carbon fiber road bikes. In 2004, the company introduced maestro suspension technology which is innovative off-road design feature. In 2008, the company launched a new cycling brand dedicated solely to female riders. In 2009, the company partnered with the Rabobank ProTour team. In 2010, Giant Manufacturing Co. Ltd becomes the first major manufacturer to introduce a full lineup of off-road bikes with innovative 27.5-wheel technology. In 2020, the company partnered with CCC team riders including Olympic champion Greg Van Avermaet, and the 9th generation TCR is unveiled. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
Taiwan, the Netherlands, China, and Hungary. |
|
8 |
Ticker |
TPE: 9921 |
|
10 |
Competitors |
Merida Industry Co Ltd, Leechi Machinery Industry Ltd. Co., Sun Race Sturmey-Archer Inc., Walt's Cycle, Urban Cycles |
|
11 |
CEO |
Young Liu |
|
12 |
Ownership Type |
Public |
|
12 |
Contact Information |
No. 997&999, Section 1, Dongda Road Xitun District, Taichung, 407 Tel: 886 4 24609099 |
Business Segment/ Overview:
Giant Manufacturing Co. Ltd. is Taiwan based company engaged in the manufacturing of bicycles, electric bicycles, and related spare parts. Under the Giant brand, it offers a variety of models to customers worldwide, from high-end racing bikes to inexpensive models for everyday use. It develops and produces race-winning lighter, stronger, and faster bikes. It operates through the following segments: bicycles, materials, and others. The company offers on-road, x-road, off-road, youth, rider gear, bike gear, and service gear bicycles.
Business Strategy
Giant Manufacturing Co. Ltd is a strong manufacturing infrastructure that allows it to produce high-quality bicycles at a competitive cost. The company is constantly innovating its product design and the company has a strong track record of introducing new technologies to the market. For instance, Giant Manufacturing Co. Ltd is engaged in producing a carbon fiber bicycle. The company also has global marketing reach and it sells its bicycles all over the world. It is committed to sustainability and the company has several initiatives in place to reduce its environmental impact. For instance, it uses recycled material in its products and it has several energy-efficient manufacturing facilities. The company has diversified its product range to meet the need if different types of cyclists.
