New York, United States , June 04, 2024 (GLOBE NEWSWIRE) -- The Global Bicycle Frame Market Size to Grow from USD 22.6 Billion in 2023 to USD 38.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.42% during the forecast period.
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Advancements in frame materials, the growing popularity of cycling for fitness and sustainable transportation, and the growing demand for high-performance and customised bicycle frames are all contributing to this trend. Aluminium frames dominate the market because they offer a good balance of performance and cost, however carbon fibre frames are utilised in high-end, performance-oriented bikes. Steel and titanium frames have significant market segments due to their distinguishing characteristics. The bicycle frame industry is predicted to expand and evolve in the next years as a result of technical advancements, shifting consumer preferences, and a focus on sustainability. Companies who can overcome challenges and capitalise on emerging trends are more likely to succeed in this competitive and dynamic industry.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Bicycle Frame Market Size By Material (Aluminum, Steel, Carbon Fiber, Titanium), Sales Channel (Online, Offline), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033".
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Insights by Sales Channel
The offline segment accounted for the largest market share over the forecast period 2023 to 2033. The offline segment of the bicycle frame market comprises sales channels that operate through physical retail outlets such as specialty bike shops, sporting goods stores and bicycle dealerships. Despite the growth of online retail, the offline segment remains crucial in the bicycle frame market since it allows customers to see, touch, and test products before making a purchase. Offline stores provide a hands-on experience, allowing customers to engage with different frame kinds, compare features, and receive tailored recommendations from knowledgeable staff. Offline stores offer value-added services such as bike fitting, maintenance, repairs, and warranty support, which are essential for ensuring optimal performance and customer satisfaction.
Insights by Material
The aluminium segment is dominating the market with the largest market share over the forecast period 2023 to 2033. The aluminium section of the bicycle frame market has continuously expanded and continues to play an essential role in the industry. Aluminium frames are popular among cyclists of all skill levels, from recreational riders to serious athletes, since they offer an excellent balance of performance, durability, and cost. With the increased popularity of cycling as a recreational activity and mode of transportation, there is a larger need for low-cost bicycles designed for beginners and casual riders. Aluminium frames are an enticing option for entry-level bikes, offering a balance of performance and cost-effectiveness that caters to the needs of new cyclists and budget-conscious consumers.
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North America is anticipated to dominate the Bicycle Frame Market from 2023 to 2033. The carbon composite bicycle frame market in North America is being driven by factors such as an increasing number of people choosing bicycles for sports and leisure activities, as well as a growing trend of bicycle commuting in major cities to save time and promote a healthier lifestyle. In recent years, major Western bicycle manufacturers in North America have turned to in-house production of carbon composite bicycle frames in an effort to reduce their reliance on Asian frame manufacturers. The bicycle frame market in North America is typified by rising demand for lightweight bicycles, environmental awareness, and personal fitness, all of which are driving market growth.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The bicycle frame market in Asia Pacific is quickly expanding as a result of increased urbanisation, rising environmental awareness, government initiatives to encourage riding, and the growing popularity of cycling as a sport and recreational activity. Rapid urbanisation in countries like China and India has resulted in increased traffic congestion, making cycling a feasible option for short-distance travel. Investments in bicycle infrastructure, such as dedicated bike lanes and parking, encourage urban cycling. Increased awareness of cycling's health benefits, particularly its role in cardiovascular health and weight management, boosts demand for bicycles. Economic growth in the region increases disposable money, allowing more people to invest in high-quality, specialty bicycles.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The Major key players in the Global Bicycle Frame Market include Advanced Sports Inc., BATTAGLIN CICLI Srl, Cicli Pinarello Srl, Giant Manufacturing Co. Ltd., Pending System GmbH & Co. KG, Ritchey Design Inc., Specialized Bicycle Components Inc., Sunny Crown Enterprises Co. Ltd., Tube Investments of India Ltd., Viner, and other key vendors.
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Recent Market Developments
- In July 2023, Trek launched an electric bike version of its Fuel EXe with an alloy frame. This new electric mountain bike has the same geometry and features a 150/140mm travel suspension arrangement, similar to the design of its carbon forebears.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Bicycle Frame Market, Material Analysis
- Aluminum
- Steel
- Carbon Fiber
- Titanium
Bicycle Frame Market, Sales Channel Analysis
- Online
- Offline
Bicycle Frame Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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