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The bicycle suspension system market share will accelerate at a CAGR of 6.18% and reach an estimated value of USD 682.04 million by 2026.
The bicycle suspension system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, the key bicycle suspension system market vendors studied and compiled in this report include BOS Suspension, Dah Ken Industrial Co. Ltd., Dorel Industries Inc., Fox Factory Holding Corp., FU LUONG HI TECH CO. LTD., Haro Bikes, Hayes Performance Systems Inc., HiRide Suspension Srl, MAGENWIRTH Technologies GmbH, Manitou BF SA, Mountain Racing Products, Orange Mountain Bikes Ltd., Roth Distributing Co. Inc., Specialized Bicycle Components Inc., SR Suntour Inc., SRAM LLC, Tenneco Inc., and X Fusion Shox among others.
This bicycle suspension system market research report extensively covers market segmentation by the following:
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The mountain biking tourism catalyzes sustainable development in less populated areas, which is notably driving the bicycle suspension system market growth, although factors such as difficulty in handling due to the increased weight of the bicycle may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bicycle suspension system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bicycle Suspension System Market Driver
One of the key factors driving the global bicycle suspension system industry growth is that mountain biking tourism catalyzes sustainable development in less populated areas. Mountain bike tourism is gaining popularity, with people traveling to various destinations to experience mountain biking owing to the thrill and adventure it offers. The key manufacturers are continuously making advances in mountain bike technologies, such as the use of carbon fiber frames, suspensions, and forks, among others. In addition, various governmental bodies are promoting bicycle tourism to enhance a healthy lifestyle. The rise in mountain biking tourism also acts as a source of revenue for the sparsely populated mountain regions as tourists keen on witnessing mountain biking would facilitate the local population to start small businesses catered toward the tourists, such as small hotels. Such factors will drive market growth in the coming years.
Key Bicycle Suspension System Market Trend
Growing popularity of clubs and sports events is one of the key bicycle suspension system market trends that is expected to impact the industry positively in the forecast period. Manufacturers sponsor cycling events and use such platforms for marketing their products. For instance, Trek Bicycle has been sponsoring the Trek World Racing Team at the Downhill events since 2013. Some of the other sponsors of the Downhill events are ODI, Motorex, MRP, and Renthal. Some of the sports bicycle manufacturers that have also sponsored events such as the Olympics are GT Bicycles, Boardman Bikes, Time Sports, and Santander Cycles. In addition, there are around 2,105 such groups with 1,074,892 members in 920 cities across 50 countries. Some of the largest meetups by sports bicycle groups and clubs worldwide are mentioned below:
Key Bicycle Suspension System Market Challenge
One of the key challenges to the global bicycle suspension system industry growth is the difficulty in handling due to the increased weight of the bicycle. Bicycles with suspension are designed to be robust, steady, stiff, and heavy and provide better balance to the rider. Even though the high-end models are manufactured using lighter materials such as carbon fiber and aluminum, they still tend to be heavier than other conventional bicycles. However, as the bicycle is heavy, the power exerted on the pedal must be higher to attain a certain speed, especially during an uphill journey. It is difficult to ride bicycles with wider wheels and suspension, as the acceleration is slower and the braking power required to stop is higher. The suspension on the bike also creates an unreasonable amount of bounce or sway, which makes it uncomfortable, especially when camping gear, food, and supplies are strapped directly to the frame of the bicycle. Such factors may challenge the market growth during the forecast period, especially for the road/commuting bicycles.
This bicycle suspension system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global bicycle suspension system market as a part of the global auto parts and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bicycle suspension system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the bicycle suspension system market encompasses successful business strategies deployed by the key vendors. The bicycle suspension system market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bicycle suspension system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bicycle suspension system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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32% of the market's growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for bicycle suspension systems in Europe. Market growth in this region will be faster than the growth of the market in South America and North America.
The significant increase in the demand for bicycle suspension owing to initiatives taken by the EU to encourage participation in physical activities to promote the benefits of exercise and sports will facilitate the bicycle suspension system market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic has adversely impacted the sales and production of bicycles across the region, owing to the imposition of lockdowns in 2020. However, public transportation in these countries is not being operated at full capacity because of social distancing norms that have been put in place to curb the spread of the disease. This has increased the demand for bicycles in Europe, especially in countries such as the UK, France, and Germany. Additionally, in 2021, the success of vaccination drives across the countries in this region, and the rise in investment inflows into the bicycle parts manufacturing sector helped the plants to reopen and increase the production of vehicles. All these factors are expected to increase the demand for bicycles and related components, which will foster the growth of the bicycle suspension system market in Europe during the forecast period.
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The bicycle suspension system market share growth by the hardtail suspension segment will be significant during the forecast period. Hardtail suspensions are best suited for a rider with racing ambitions or someone seeking an all-around bicycle to use for both commuting and weekend trail riding. The increase in such activities is anticipated to promote growth for hardtail suspensions in the forecast years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the bicycle suspension system market size and actionable market insights on post COVID-19 impact on each segment.
Bicycle Gearbox System market - The market share is expected to increase by USD 2.12 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.54%.
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Bicycle Suspension System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.18% |
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Market growth 2022-2026 |
$ 682.04 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.21 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 32% |
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Key consumer countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BOS Suspension, Dah Ken Industrial Co. Ltd., Dorel Industries Inc., Fox Factory Holding Corp., FU LUONG HI TECH CO. LTD., Haro Bikes, Hayes Performance Systems Inc., HiRide Suspension Srl, MAGENWIRTH Technologies GmbH, Manitou BF SA, Mountain Racing Products, Orange Mountain Bikes Ltd., Roth Distributing Co. Inc., Specialized Bicycle Components Inc., SR Suntour Inc., SRAM LLC, Tenneco Inc., and X Fusion Shox |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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