Bicycle Accessories Global Market Report 2024

The bicycle accessories market size has grown strongly in recent years. It will grow from $13.3 billion in 2023 to $14.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The historical growth in the bicycle accessories market can be attributed to an upsurge in cycling enthusiasts, evolving urbanization and commuting patterns, a rise in cycling events and competitions, the trend towards customization and personalization, as well as the influence of professional cycling on consumer preferences.

The bicycle accessories market size is expected to see strong growth in the next few years. It will grow to $19.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the bicycle accessories market is attributed to the increasing adoption of micromobility solutions, the integration of health and fitness features, advancements in artificial intelligence applications, a shift towards electric bikes, and the rising demand for sustainable and eco-friendly products. Key trends expected in this period encompass the incorporation of wireless technology, emphasis on lightweight and compact designs, the integration of fashionable and stylish elements, the implementation of smart navigation and assistance features, as well as the adoption of aerodynamic accessories.

The anticipated growth of the bicycle accessories market is closely tied to the increasing sales of e-bikes. Electric bicycles, equipped with an electric motor for propulsion assistance, are becoming more popular. Bicycle accessories play a crucial role in enhancing the riding experience by offering various components such as helmets, batteries, front lamps, rear lamps, and alloy pedals. According to CONEBI (The European Association of the Bicycle, E-Bike, and Parts & Accessories Industries), e-bike sales in the UK and Europe experienced a 12% increase in 2021 compared to the previous year. This surge in e-bike sales serves as a significant driver for the bicycle accessories market.

The growth trajectory of the bicycle accessories market is further influenced by the increasing awareness of health and fitness. Individual well-being, encompassing physical, mental, and social aspects, is gaining prominence. Health-conscious individuals are recognizing the benefits of regular exercise, a balanced diet, mental wellness, and lifestyle choices. Cycling, as part of a fitness regimen, offers multiple health advantages, including physical and mental well-being, along with environmental consciousness. In July 2023, the International Health, Racquet, and Sports Club Association reported a substantial increase in the $30 billion fitness and health industry in 2022, a trend that continues to expand. Similarly, the Global Wellness Economy Monitor 2023 report, issued by the Global Wellness Institute, projects an increase in the nutrition, healthy eating, and weight loss sector from $911 billion to $1,079 billion by 2022. The growing awareness of health and fitness is a driving force behind the bicycle accessory market.

Major players in the bicycle accessories market are actively engaging in strategic partnerships to manufacture eBikes and develop electric-drive two-wheeler systems. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. An example of this is the collaboration announced in August 2022 between Porsche eBike Performance GmbH, a Germany-based bicycle manufacturing company, and Ponooc Investment B.V., an independent venture capital company based in the Netherlands. Led by a new management team, the partnership aims to capitalize on the potential of the e-bike category. Porsche eBike Performance GmbH, operating under the Porsche brand name, will design and manufacture powerful eBike drive systems, including smaller drive systems from Fazua. The joint venture will serve as a technological partner, marketing both product categories globally to e-bike manufacturers. The electric drive systems developed will be utilized in Porsche eBikes and other manufacturers' products.

Product innovation is a prominent trend shaping the bicycle accessories market. Major companies in this sector are directing efforts towards developing innovative solutions to enhance their market positions. Sigma Sport, a Germany-based manufacturer of electronic sports equipment, exemplifies this trend with its introduction of the AURA 100 and BLAZE LINK lighting sets in May 2022. Designed to provide cyclists with secure and comfortable training and leisure experiences, the lighting sets feature an innovative link function. This function allows lights to be quickly coupled with each other through BLE, enabling intuitive control via the AURA 100 LINK front light. The integrated brightness sensor in Auto mode automatically manages the on-and-off cycles of both lights, ensuring visibility and safety even during daylight hours. The focus on product innovation underscores the commitment of major players in the bicycle accessories market to stay competitive and offer advanced solutions to consumers.

In March 2022, SRAM LLC, a US-based bicycle component manufacturer, acquired Velocio for an undisclosed amount. With this acquisition, SRAM aims to expand its portfolio of bicycle apparel with more independent product design and development, including a more significant push toward sustainability in its product offerings. Velocio is a US-based performance cycling apparel company.

Major companies operating in the bicycle accessories market report are Continental AG, Garmin Ltd., Shimano Inc., Giant Manufacturing Co. Ltd., Trek Bicycle Corp., Fox Factory Inc., Accell Group N.V., Merida Industry Co. Ltd., Thule Group AB , ABUS August Bremicker Söhne KG, SRAM LLC, Specialized Bicycle Components Inc., DT Swiss, Campagnolo S.R.L, Samchuly Bicycle Co. Ltd., Scott Sports SA, Endura Ltd., Cannondale Bicycle Corporation, Mavic SAS, Eastman Industries Ltd., Blackburn Design, Sigma Sport, Selle Italia S.p.A., Avon Cycles Ltd., Park Tool Company, Lezyne USA Inc, BBB Cycling, Cateye Co. Ltd., Topeak Inc., Giro.

Asia-Pacific was the largest region in the bicycle accessories market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the bicycle accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bicycle accessories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary categories of bicycle accessories include apparel and components. Apparel constitutes garments designed for riding, tailored to enhance comfort, safety, and performance. These accessories cater to diverse bicycle categories such as mountain bikes, hybrid bikes, road bikes, cargo bikes, among others. They are distributed by both original equipment manufacturers (OEM) and aftermarket manufacturers, and are accessible through various sales channels, including both offline and online platforms.

The bicycle accessories market research report is one of a series of new reports that provides bicycle accessories market statistics, including bicycle accessories industry global market size, regional shares, competitors with a bicycle accessories market share, detailed bicycle accessories market segments, market trends, and opportunities, and any further data you may need to thrive in the bicycle accessories industry. This bicycle accessories market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The bicycle accessories market consists of sales of safety accessories, comfort accessories, saddles, pedals, lighting system, mirrors, water bottle cages, lock bar ends/grips, kickstands, fenders, mud flaps, convenience accessories, and style accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.