Spokes of Progress: Analyzing Trends in the Worldwide Bicycle Wheels Industry

A bicycle wheel, most commonly a wire wheel designed for a bicycle and a pair of wheels, one at the front and one at the rear are used. This wheel is connected to the bicycle frame and the hub holds the wheel in place. Bicycle wheels and wheelsets come in a variety of sizes and styles. Wheel size is determined by the diameter of the rim, and is typically measured in inches. The most common sizes are 26”, 27.5”, and 29”. The most common wheel type is a clincher wheel, which uses a tire with an inner tube. Tubular wheels are also available for road bikes, and use a tire that is sewn directly onto the wheel. Wheelsets are available in both clincher and tubular styles, and typically include a front wheel, rear wheel, and hubs. The hubs are responsible for connecting the wheel to the frame, and come in a variety of sizes and axle standards. Most mountain bike wheelsets will have quick-release axles, while road wheels often use a thru-axle design. The global bicycle wheels and wheelsets market has been classified by different applications such as road bike, mountain bike, track bike, and others in the report. The detailed geographical segments along with the countries are also given to provide holistic view of the report.?

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Factors such as the increasing popularity of cycling activities and the rise in the number of cycling events, tours, and races are anticipated to drive the market growth. Bicycle wheels and wheelsets are mainly used in mountain biking and road biking. The growing popularity of mountain biking has led to an increase in demand for lightweight and durable wheelsets for mountain bikes. Moreover, the increasing awareness about the health benefits of cycling and the rising disposable income of people are expected to fuel market growth. The bicycle riding not only helps in traffic but also with physical and mental health. However, the high cost of carbon fiber wheels and the availability of counterfeit products in the market are expected to restrain market growth.? ?? In addition, the growing demand of e-bikes are attracting new companies in the market, hence intensifying the market rivalry. For instance, in January 2023, India-based start-up EMotorad launched two new ranges of e-bikes, which includes the ultra-premium Desert Eagle and Nighthawk. It has also launched the affordable bicycle range namely X-Factor, which includes the X1, X2, and X3 e-bikes. It includes Boweier/P35L/Double wall/29 inch/13G*36H matte black front and rear wheels. Furthermore, the increasing trend of bicycle renting application fueling the market especially in the metro cities. In April 2022, a Spanish express company Alsa and a German public transport company Nextbike started bike rental service in Leon with 300 bicycles, driving the demand for bicycle wheels.? ?? Technological Advancements in Bicycles?? Technological advancements in bicycle components and the increasing demand for premium bike components are projected to propel market growth. Companies are launching new bicycle with advanced features like quick-release skewers, clipless pedals, carbon fiber tubing, GPS computers, electronic groupsets, and pneumatic tires. For instance, in July 2022, a U.S. based technology company Garmin launched two new cycling products that includes solar-powered GPS cycling computer, the Edge 1040 Solar, and a rearview radar-activated taillight with a built-in camera namely the Varia RCT715. The increasing demand for lightweight wheelsets is expected to boost market growth. For instance, in July 2022, Italian bicycle manufacturer Leaos launched new commuter e-bike with its pressed-frame technology. It is lightweight bicycle with pressed aluminum frames and weighs only 15kgs. these bicycle include small digital display, 28-inch Zoll double-wall wheels with 1.75 inch thick continental tires.? ??

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Segment Overview:?? By type: The bicycle wheels and wheelsets market is divided by type; alloy wheel, carbon wheel, and others.? By application: The bicycle wheels and wheelsets market is classified by application namely; road bike, mountain bike, track bike, and others. A road bicycle is designed for traveling on paved roads. A mountain bicycle is designed for off-road cycling and typically feature wider tires, more durable frame construction, powerful brakes, and a wide range of gears to help riders tackle tough terrain. Whereas a track bicycle is optimized for racing at a velodrome or outdoor track.? By region: The bicycle wheels and wheelsets market is regionally classified into North America, Europe, Asia-Pacific (APAC), and LAMEA. APAC region is expected to grow in bicycle wheels and wheelset market during the forecast period. The growth is mainly attributed to the growing demand for bicycles in the region. APAC is the largest region with more than 95 million bicycle sold in 2021, followed by Europe and North America. China in the major contributor in terms of bicycle sales. As per the China Bicycle Association, China bicycle industry witnessed the growth of around 10% in 2021.? ?

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Competitive Analysis:?? Competitive analysis and profiles of the major players in the global bicycle wheels and wheelsets market, such as Campagnolo S.r.l., Cyclop, Deluxe Cycles, Fulcrum, Shimano, Inc., DT Swiss, Zipp, HED, Knight Composites, and Mavic are provided in this report. There are some important players in the market, such as Bontrager, Brompton, Cane Creek, Dahon, Flow, Kuwahara, Leader, and others. To capture the larger share of the market, companies are competing on various ground like competitive price, premium product offerings, after-sale services, availability of spare parts, and repair & maintenance. Companies are implementing merger and acquisition and new product development strategies to expand their businesses. For instance, in February 2022, Shimano, Inc. acquired minority stake in the Dutch start-up Get Bike Service. ?

Key Market Players?-

Mavic, DT Swiss, Knight Composites, Fulcrum, Zipp, HED, Deluxe Cycles, Shimano, Inc., Cyclop, Campagnolo S.r.l.?