The global bicycle chain market is expected to grow at a 5.1% CAGR from 2022 to 2032, reaching a valuation of more than US$ 11,774.8 Million by 2032. Rising sales of bicycles, especially e-bikes across the world is a key factor generating demand for bicycle chains in the market.
Riding a bicycle has been a popular form of exercise for decades. However, in recent years, factors such as growing environmental concerns, increasing incidence of lifestyle diseases, and rising health awareness have thrown new life into the bicycle industry.
People are increasingly opting for bicycles to stay fit, minimize pollution levels, and reduce transportation costs. This high adoption rate of bicycles across the world is expected to remain a key factor augmenting sales of bicycle chains during the forecast period.
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An upcoming trend is to enable the fastest cycling times with more power to drive and maximized speed for athletes. Digitally integrated intelligence is being implemented in the mechanism to achieve smart bicycle technology. Chains are manufactured to be robust, durable and have a long life. The new development of hollow pins enables lightweight chains. The use of diamond coatings and gold coatings on chains is also an upcoming trend.
Companies want to make chains that can mesh softly across a multi-geared platform while also resisting weariness within acceptable limits. Almost every traditional bicycle brand now sells an electric bike, and several new brands specialize in e-bikes. Their sales have been continuously increasing, whereas traditional bicycle sales have considerably decreased. The electric bicycle market is presently the most profitable segment of the bicycle industry. As a result of the increase in E-Bike sales, there is a demand for E-Bike chains.
Bicycle Chain market is highly fragmented owing to the high presence of leading players across the region. Key players in the market are focusing on adopting alternative distribution channels, such as online, to further strengthen their market presence in the global market.
Key Takeaways from Market Study
- By material type, the alloy steel segment is projected to hold a significant share of about 43.8% due to its features such as high durability, high endurance strength, and ductility.
- Based on chain speed, 1-speed chain category is estimated to hold around 21.6% of the market value share.
- By sales channel, OEM segment is expected to grow at the highest CAGR during the forecast period, creating an incremental $ opportunity of 2,502.4 Mn by 2032.
- By 2032, East Asia is expected to hold the largest share of around 51.9% share in the global bicycle chain market.
- The U.S. bicycle chain market is likely to surpass US$ 1,007.4 Mn by the end of 2032.
- Demand for bicycle chains across China is projected to grow at 4.4% CAGR between 2022 and 2032.
“Growing demand for E-bicycle is boosting the growth of bicycle parts and components which is expected to create opportunities for bicycle chain companies. In order to grab maximum benefits, manufacturers are focusing on developing durable products while also providing new designs and customized solutions to customers as per their requirements. This will bode well for the overall bicycle chain market, says a Future Market Insights analyst.
Who is Winning?
Among the industry’s key players are KMC (KUEI MENG) INTERNATIONAL INC., SHIMANO INC., TIEN YUEN MACHINERY MFG. CO., LTD., RENOLD PLC., TAYA CHAIN CO., Ltd., SRAM LLC, RK SOUTH ASIA SDN. BHD, Izumi Chain Mfg Co. Ltd., Oriental Chain Mfg. Co., Ltd., ASR OVERSEAS, Zhejiang Dong Mei Chain Co., Ltd., Metro Group and others. Globally, some key players are focusing on creating a strong supply channel by expanding their supplier network in order to gain more sales from local markets.
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Key Segments Covered in Bicycle Chain Industry Analysis
By Chain Type:
- 1-Speed
- 9-Speed
- 10-Speed
- 11-Speed
- 12-Speed
- Others
By Material Type:
- Carbon Steel
- Alloy Steel
- Nickel Plated
By Bicycle Type:
- Kids
- Road
- Mountain
- Racing
- E-Bike
By Width:
- 1/8″
- 3/16″
- 3/32″
By Sales Channel:
- First Fit (OEM)
- Replacement (Aftermarket)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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