Global Bicycle Brake Components Market Expected to Reach USD 48.6 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Bicycle Brake Components Market by Types, Applications, and Regions: Size, Share, Trends, and Opportunity Analysis, 2017-2027”. The market was valued at USD 33.6 Million in 2019 and is projected to expand at a CARG of 5.8% from 2020 to 2027. The Global Bicycle Brake Components Market is anticipated to grow owing to rapid development of bicycle infrastructure and various laws enforced to suppress rising traffic congestion are some factors that are expected to drive the bicycle industry, which in turn, is expected to fuel the bicycle brake market.

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The global bicycle brake components market has been fragmented based on types, applications, and regions. In terms of types, the market has been segmented into rim brake, disc brake, drum brake, coaster brake, drag brake, and band brake. Based on applications has been divided into road bikes, sports bikes, hybrid bikes, mountain bikes, and others.

On the basis of regions, the global bicycle brake components market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is further bifurcated into the U.S., and Canada. The South and Central America region is sub-segmented into Brazil, Mexico, and Rest of Latin America. Asia Pacific is classified as China, Japan, South Korea, India, Australia, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam, and Rest of Asia Pacific (APAC). Europe is categorized as Germany, France, Italy, the U.K., Spain, Russia, and Rest of Europe, while MEA is fragmented into GCC Countries, Turkey, Egypt, South Africa, and Rest of Middle East & Africa (MEA).

The growth of the bicycle brake component market reduced in 2020 due to the negative impact of COVID 19 pandemic. The COVID-19 pandemic has shown serious impact on the global bicycle brake market, by increasing the supply chain disruption. Moreover, the pandemic situation has led to the closure of several businesses or temporary shutdown worldwide, which in turn, is impeding the market. The decrease in the supply chain of raw materials has hampered the bicycle brake market. The slowdown in the production of components and its raw materials have given rise to supply chain disruption in the bicycle brake market. Moreover, many countries have enforced lockdowns, which has decreased the demand for bicycles, thus hindering the market growth. However, the demand for bicycle brakes is expected to rise post lockdown.

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As per GMR industry analyst Akshata Ahire, “The global bicycle brake components market is anticipated to grow significantly during forecast period, between 2020 and 2027 owing to increasing adoption of bicycles in various countries such as the US. Growing awareness among people to reduce pollutions, increasing fuel prices, and need for safer transport are some of factors propelling the market. Moreover, rising traffic congestions and shortage of parking spaces, especially in metropolitan cities, are encouraging people to use bicycles to commute short distances to save time. Disc brake is expected to be an attractive segment of the market and is expected to grow at a significant CAGR during the forecast period.

Key Takeaways from the Study:

• The players operating in the market are Maxway Cycles Co., Ltd, TEKTRO TECHNOLOGY CORP, SHIMANO INC, SRAM LLC, Gustav Magenwirth GmbH & Co. KG, Fibrax Limited, Hayes Performance Systems, TRP CYCLING COMPONENTS, Promax Components, and Galfer USA.
• Disc brake is expected to be an attractive segment during the forecast period. Disc brake are made of rubber or wood and were operated using handle lever, which pulled rollers on top of the front wheel to apply resistance and to decrease the wheel movement. These brakes were more effective than spoon brakes as they provide higher stopping power.
• Rising applications of bicycle brakes in road bikes makes it an attractive segment. High demand for the use of disc brakes is a major trend in the road bikes segment. These breaks improve tire clearance on many models and rolling efficiency of lower pressure tires, thus boosting their use.

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Report Scope:

Target Audience:

• Supply-side: Bicycle brake manufacturers, raw material suppliers, distributors
• Demand Side: Bicycle industry
• Regulatory Side: Concerned government authorities, and other regulatory bodies
• Associations and Industry Bodies: Consumer Product Safety Commission (CPSC), International Sports Engineering Association (ISEA), Bicycle Association (BA), The Pedal Bicycles (Safety) Regulations.

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