Bicycle Frames Market Share, Growing Demand, and Top Key Players

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Market Overview

In 2024, the bicycle frames industry will produce revenue of USD 28.2 billion as projected, which is expected to experience a CAGR of 7.1% over the projection period, to attain USD 42.6 billion by the end of the decade. This development is propelled by the encouragement being given to bicycles to solve the problem of traffic congestion and also deal with parking problems, mainly in urban areas.

The frame is indeed a critical part of the bicycle because it acts as the body and has safety and operational functions associated with it. It also endows the vehicle with a look; the young generation today is more inclined to sleek body shapes. 

Now customers also employ bicycles as sporting equipment, for a healthier lifestyle, contributing to the market and inviting investment. This, therefore, implies that the more people purchase these vehicles, the higher the probability that the frames of these vehicles would also be popular. This environmental awareness that is adopted by the consumers pushes them towards the use of bicycles. 

Lightweight but at the same time strong are the basic characteristics of the frame, for which it is necessary to select the appropriate material. Nowadays, there are carbon fiber, titanium, and aluminum alloys used to create stronger and lighter bodies to make the riding experience even better.

Key Insights

  • Road bicycles acquired a 40% market share in 2024.
  • Growth is driven by advancements in frame designs, carbon fiber usage, aerodynamics, and integrated components.
  • Electric bicycles will witness the highest CAGR of 7.5% during 2024–2030.
  • Electric motors assist with pedaling, reducing effort, and increasing rider input.
  • E-bike frames are designed to carry the extra weight of motors and batteries while maintaining structural integrity and maximizing comfort and performance.
  • Increasing popularity among young customers and mountain biking enthusiasts.
  • Aluminum frames acquired the largest market share of 45% in 2024.
  • Popular due to its excellent strength-to-weight ratio, lightweight nature, and affordable pricing.
  • Preferred by beginners and casual riders for stiffness and durability.
  • Steel frames are known for comfort, toughness, and smooth riding characteristics.
  • Preferred for touring, commuting, and classic-style bikes due to exceptional strength and durability.
  • Carbon fiber frames are the fastest-growing category.
  • Offer high rigidity, low weight, and vibration-dampening capabilities.
  • Commonly found in high-end road, mountain, and racing bikes for customized riding characteristics and aerodynamics.
  • OEMs dominate the market by producing most bicycle frames, offering cost benefits through efficient manufacturing.
  • The aftermarket category growing due to rising consumer desire for customized bicycle bodies.
  • Riders can choose from a variety of aftermarket frames with different features, materials, designs, and riding styles.
  • APAC had the largest revenue share in 2024.
  •  Expected to grow at the highest CAGR of 7.6% during 2024–2030.
  • Growing popularity of cycling for exercise, relaxation, and environment-friendly commuting.
  • Cycling is used as an alternate transportation to alleviate traffic congestion in regional metropolises.
  • Governments and city planners promote cycling by creating dedicated lanes and approving bike-sharing programs.
  • Europe is expected to develop at a noteworthy CAGR from 2024 to 2030.

Source: P&S Intelligence

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