Bicycle Bearings Market to reach a value in excess of US$ 8 Bn in 2027
The global sales of bicycle bearings will be prominent via aftermarket, and would reach a value in excess of US$ 8 Bn in 2027, expanding at a robust CAGR during the forecast period of 2019-2027.
Traffic congestion will remain a major concern for commuters, increasing demand for bicycles, and in turn, bicycle bearings. The adoption of bicycles aids in the preservation of natural resources that power various modes of transport. Additionally, one does not need to hold a license to ride a bicycle, which makes these vehicles a cheap, healthy, and viable option for anyone.
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Key Takeaways
- North America and Europe bicycle bearings market expected to show significant growth owing to the increasing use of bicycles in the regions.
- Corporate sectors in North America and Europe are promoting usage of bicycles and electric vehicles as modes of transportation inside campuses to improve air quality and decrease pollution index.
- Growth in demand for mountain and sport bicycles due to increase in number of terrain cycling events is expected to boost revenue growth of the global bicycle bearings market.
- Increasing use of bicycles, regular maintenance activities, and average operational life directly impact the growth of the bicycle bearings market.
- Bicycle ball bearings category is estimated to dominate the market over the forecast period as these bearings have applications in wheel hubs, bottom brackets, and chain sprockets.
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Competition Overview
The bicycle bearings market has become increasingly sophisticated as manufacturers are looking to lower cost and increase margins through the use of more stylish, lightweight & extra lightweight bicycle bearings. Key players involved in the bicycle bearings market are Schaeffler Technologies AG & Co. KG, Boca Bearing Inc., Endura Bearings, Jiangsu Wanda Special Bearing Co., Ltd., SKF AB, National Engineering Industries Limited, SMB Bearing, Fuda Bearing Corporation Co., Ltd., Kogel Bearing, and Yuyao Bote Bearing Co., Ltd., among others.
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