U.S. Bicycle Accessories Market (By Product: Apparels, Components; By Type: OEM, Aftermarket; By Bicycle Type; By Sales Channel) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

U.S. Bicycle Accessories Market Size and Trends

The U.S. bicycle accessories market size was estimated at around USD 2.14 billion in 2023 and it is projected to hit around USD 4.51 billion by 2033, growing at a CAGR of 7.73% from 2024 to 2033.

Key Pointers

• By Product, the component segment contributed the largest market share of 62% in 2023.
• By product, the apparel segment is anticipated to grow at the noteworthy CAGR of 7.93% from 2024 to 2033.
• By Bicycle Type, the road bicycle segment contributed the largest market share of 41% in 2023.
• By Type, the OEM (original equipment manufacturer) segment registered the maximum market share of 58% in 2023.
• By Type, the aftermarket segment is expected to expand at the highest CAGR of 8.03% from 2024 to 2033.
• By Sales Channel, the offline sales channel segment commanded the largest share of 54% in 2023.

U.S. Bicycle Accessories Market Overview

The U.S. bicycle accessories market is a dynamic sector that plays a crucial role in supporting the thriving cycling industry. With a growing emphasis on health and wellness, coupled with increasing interest in sustainable transportation alternatives, the demand for bicycle accessories continues to rise.

U.S. Bicycle Accessories Market Growth Factors

The growth of the U.S. bicycle accessories market is driven by the rising emphasis on health and wellness, with more individuals opting for cycling as a form of exercise and recreation. This trend has bolstered the demand for accessories that enhance the safety, comfort, and performance of cyclists. Additionally, increasing awareness about environmental sustainability has led to a greater adoption of cycling as a sustainable mode of transportation, driving the demand for accessories such as lights, locks, and racks. Moreover, advancements in technology have fueled innovation in the bicycle accessories sector, with the integration of smart features and connectivity enhancing the functionality and appeal of products. Furthermore, government initiatives promoting cycling infrastructure and safety have contributed to market growth by creating a conducive environment for cycling enthusiasts.

U.S. Bicycle Accessories Market Trends:

• Integration of Smart Technology: Bicycle accessories are increasingly incorporating smart features such as GPS tracking, wireless connectivity, and performance monitoring, enhancing convenience and functionality for cyclists.
• Customization and Personalization: Consumers are seeking personalized accessories that cater to their individual preferences and needs, leading to a rise in customizable and aftermarket upgrade options.
• Urbanization and Commuting Solutions: With urbanization on the rise, there's a growing demand for accessories that cater to urban commuters, such as compact lights, foldable locks, and portable storage solutions.
• Safety Innovations: Manufacturers are focusing on developing innovative safety features in accessories like helmets, lights, and reflectors, addressing concerns about cyclist safety on the road.
• Increased Online Presence: The proliferation of online retail channels has led to greater accessibility and availability of bicycle accessories, offering consumers a wide range of options and convenience in purchasing.
• Multi-Functional Designs: Bicycle accessories are evolving to offer multi-functional capabilities, combining features such as storage, lighting, and communication tools into single products to streamline the cycling experience.
• Rise of Direct-to-Consumer Brands: Direct-to-consumer brands are gaining traction in the bicycle accessories market, bypassing traditional retail channels to offer high-quality products at competitive prices, resonating with value-conscious consumers.

Product Insights

The market is categorized into two main segments: apparel (including cycling gloves, clothes, shoes, protective gear, among others) and components (comprising saddles, pedals, lighting systems, mirrors, water bottle cages, locks, bar ends/grips, kickstands, fenders & mud flaps, air pumps & tire pressure gauges, and others). In 2023, the component segment led the market with a revenue share of 62%, driven by the growing popularity of cycling in transportation and fitness sectors. Within components, pedals stood out, commanding a revenue share of 14.37% in 2023. Due to their frequent wear and tear, pedals are often the most replaced accessory in bicycles.

The apparel segment is expected to exhibit the fastest CAGR of 7.93% during the forecast period. This growth is fueled by advancements in fabric technology and design, resulting in high-performance materials that offer breathability, UV protection, and moisture-wicking properties. Consequently, cyclists can now enjoy functional and comfortable apparel without compromising on style. Within the apparel segment, protective gear accounted for the largest market share of 29.2% in 2023. This significant share underscores the importance of protective gear in preventing injuries and minimizing their severity during accidents.

Bicycle Type Insights

The market is segmented by bicycle type into mountain bikes, hybrid bikes, road bikes, cargo bikes, and others. In 2023, the road bicycle segment led with the largest revenue share of 41%, and it is expected to maintain its dominance throughout the forecast period. Basic bicycles, like road bikes, are preferred by a majority of the population due to their simplicity in modification compared to racing, mountain, or specialized bicycles. Additionally, the rising trend of customizing road bikes for specific purposes is projected to drive market growth in the coming years.

Moreover, the cargo bikes segment is poised to demonstrate the fastest CAGR during the forecast period. Cargo bikes serve as sustainable and eco-friendly alternatives to traditional vehicles for transporting goods, thus contributing to their increasing popularity. Consequently, there is a growing demand for accessories that enhance the functionality and carrying capacity of cargo bikes, such as racks, bags, and baskets. Furthermore, the mountain bicycle segment is expected to witness significant growth over the forecast period as consumers increasingly embrace mountain biking for adventure and leisure activities.

Type Insights

In 2023, the OEM (original equipment manufacturer) segment emerged as the market leader, boasting the largest revenue share of 58%. This dominance is primarily attributed to the fact that OEM accessories are meticulously designed to seamlessly integrate with specific bicycle models, ensuring impeccable fit, quality, and durability. Unlike aftermarket accessories, OEM counterparts undergo rigorous testing to guarantee compatibility, thereby mitigating potential issues. Moreover, OEM accessories come with the added assurance of being covered under the bicycle manufacturer's warranty, instilling confidence in customers regarding product quality, compatibility, negligible shipping costs, and access to authenticated manuals for troubleshooting. Furthermore, OEM accessories are tailored to enhance bicycle aesthetics, offering cohesive color schemes and finishes that appeal to discerning customers seeking a unified look for their bicycles.

Conversely, the aftermarket segment is poised to witness the fastest CAGR of 8.03% over the forecast period. This growth trajectory is driven by the broader range of options available with aftermarket accessories compared to their OEM counterparts, which are limited to specific bicycle models. With a plethora of color, design, and functionality choices, aftermarket accessories empower customers to personalize their bicycles according to their preferences. Additionally, aftermarket accessories often come at a lower price point than OEM alternatives, making them more accessible and affordable to customers, particularly those seeking bicycle upgrades without significant expenditure. The burgeoning popularity of e-commerce platforms and online marketplaces further facilitates access to and purchase of aftermarket accessories, amplifying their appeal among consumers.

Sales Channel Insights

In 2023, the offline sales channel segment commanded the largest share of 54%. This dominance is primarily driven by a substantial portion of consumers preferring to make purchases from physical stores, as the in-person shopping experience allows them to test accessories before buying. Physical stores also offer customization options, enabling consumers to select their preferred designs and colors for bicycle accessories with the convenience of instant availability. Furthermore, the ability to physically examine products in-store provides customers with a better understanding of their quality and suitability for their needs. The presence of branded bicycle accessories in local supermarkets and other retail outlets further contributes to driving demand for this segment.

The online sales channel segment is poised to be the fastest-growing segment, with a projected CAGR of 8.05% over the forecast period. Increased consumer engagement in online shopping is expected, particularly in emerging economies such as Brazil, China, India, and Mexico, propelled by the widespread penetration of smartphones and the internet. Moreover, the expanding internet accessibility encourages vendors to tap into previously untapped markets through popular online platforms such as Ali Express, Amazon, and Flipkart. Additionally, online channels entice consumers with attractive discounts, incentivizing them to make purchases online and thereby fostering the growth of the online market.

U.S. Bicycle Accessories Market Key Companies

• Cycling Sports Group, Inc.
• Giant Bicycle, Inc.
• Lezyne USA, Inc.
• Marin Bikes
• SelleRoyalGroup.com
• Shimano, Inc.
• Specialized Bicycle Components, Inc.
• SRAM LLC
• Surly Bikes
• Trek Bicycle Corporation

U.S. Bicycle Accessories Market Segmentation:

By Product

• Apparels
  • Cycling Gloves
  • Cycling Clothes
  • Cycling Shoes
  • Protective Gears
  • Others
• Components
  • Saddles
  • Pedals
  • Lighting System
  • Mirrors
  • Water Bottle Cages
  • Lock
  • Bar Ends/Grips
  • Kickstands
  • Fenders & Mud Flaps
  • Air Pumps & Tyre Pressure Gauge
  • Others

By Bicycle Type

• Mountain Bikes
• Hybrid Bikes
• Road Bikes
• Cargo Bikes
• Others

By Type

• OEM
• Aftermarket

By Sales Channel

• Offline
• Online