Bicycle Suspension Market: Global Industry Analysis and Forecast (2023-2029)

Bicycle Suspension Market was valued at US$ 521.69 Mn. in 2022. Global Bicycle Suspension Market size is estimated to grow at a CAGR of 10.14%.
Bicycle Suspension Market Overview:
Bicycle suspension is the system, which is used to suspend the rider and bicycle to insulate them from the roughness of the terrain. The Suspension provides better control and helps the bike to absorb huge shocks when landing jumps. The different types of suspension mounted on the bicycle are front-wheel suspension, rear-wheel suspension, saddle suspension, and bar suspension. Bicycle suspension is mainly used on mountain bikes.To know about the Research Methodology:- Request Free Sample Report
Bicycle Suspension Market Dynamics:
Health concern and changing lifestyle of the populace are driving the demand for Bicycle

The health concern and changing lifestyle of the populace is driving the bicycle suspension market. Cycling is the seventh most popular activity in the US. The rise in heart diseases in different age groups and obesity are the major reasons for demand for cycling activities. The awareness of cycling sport among the youngsters, demand for safe and comfortable bicycles are driving factors behind the market growth. Government initiation to promote the use of bicycles and events organized by the bicycle manufacturers to promote their product is increasing awareness of the bicycles. The use of bicycles for mobility in short-distance travel is increasing its adoption at a rapid rate.

Consumers Turn to prefer biking for Exercise During Pandemic: Drive the Bicycle adoption

A cycling boom sparked during the coronavirus pandemic has continued its demand in 2022. creating short supply across the nation. Manufacturers are struggling to supply bikes to an exploding customer base of people newly eager to enjoy the outdoors. In the pandemic, parts of the country were under orders to stay home and health clubs were closed to help contain the spread of the coronavirus, many fitness-starved consumers had turned to do cycling as outdoor exercise, which has triggered a bike shortage. An increase in demand prompts bicycle shortages, higher prices during the pandemic.

Stringent norms and regulations from the government to reduce the carbon emission is expected to boost good performing suspension system adoption.

Cycling is one of the sustainable modes of transportation, which offers numerous benefits in the form of zero dependence on fossil fuels, zero emissions and pollution.

An increase in motorization in urban and rural areas has given rise to many negative externalities like dependence on fossil fuels, GHG emissions, congestion, pollution and the associated health impacts. Stringent norms and regulations from the government across the world to reduce the carbon emission from traditional automotive and initiative to minimize the costs associated with these externalities current and future projected travel demand needs to be served by sustainable modes of transportation like cycling. The affordable cost of bicycles with good performing suspension system will boost the market during the forecast period. The growing mountain biking tourism industry is anticipated to drive the market.

The report covers the detail analysis of the market dynamics like drivers, restraints, opportunities and challenges by each region. Despite the great adoption rate of the bicycle, growth on income levels, absence of safe cycling infrastructure, and increased affordability of motorized vehicles (especially two-wheelers) are some of the factors, which have led to limit the bicycles adoption.
Bicycle Suspension Market Segment Analysis:
The online segment is expected to contribute major share in the market during the forecast period. The growth in e-commerce sector is expected to generate excellent opportunities for the manufacturers to promote new bicycles with advanced suspension systems and to sell them at a reasonable price. In addition to this, almost all the manufacturers have an online presence or a website where they can display or sell their products. Some companies outsource their product to other online sellers, including Amazon., Alibaba.com, Walmart, and others. These websites are expected to propel bicycle sales which are anticipated to boost the bicycle suspension market during the forecast period.

Sport’s Segment is expected to grow at a 8.75% rate of CAGR during the forecast period. Growing popularity of cycling sports, including mountain biking, cycling, racing, and others, use of cycles for sport adventure and fitness, focus of government towards the emission control and support for the sport activities are some of the prominent factors, which drives the market growth.
Bicycle Suspension Market Regional Insights:
Asia Pacific region is projected to be prominent leader in the market. The key players operating in this market are investing more in the promotion. This has created many lucrative opportunities in countries like India, South Korea, Japan, China, and Singapore. The manufacturers are coming up with advanced bicycle suspension products and are focusing on e-commerce platforms for promoting the bicycle market this has made a positive impact on the market growth. China is massively holding the first position in the bicycle production. The China, India, EU, Taiwan, and Japan countries are responsible for more than 85% of global bicycle production. India’s bicycle industry is expected to grow at rapid rate, with sales expected to touch 1.45 crore units in the near future. The ongoing Covid-19 pandemic has surged demand for bicycles because of fitness consciousness and leisure requirements. India is the second-largest manufacturer of bicycles in the world.

Demand for bicycles is driven by government purchases in India. The Government departments procure these bicycles through a tender process and distribute under various welfare schemes. The government is taking initiatives such as tax concessions for low-income individuals, construction of adequate and safe cycling infrastructure, and measures to reduce the use of private vehicles and promote the widespread use of bicycles. Manufacturers are organizing events to promote their products and increasing awareness of electric bicycles will create new opportunities for the market. The development of bicycle suspension systems for better comfort and safety is also expected to create new possibilities for the global bicycle suspension market.

The objective of the report is to present a comprehensive analysis of the global Bicycle Suspension Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Bicycle Suspension Market dynamic, structure by analyzing the market segments and projecting the Bicycle Suspension Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Bicycle Suspension Market make the report investor’s guide.
Bicycle Suspension Market Scope: Inquire before buying



Bicycle Suspension Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 521.69 Mn.


Forecast Period 2023 to 2029 CAGR:
10.14%
Market Size in 2029:
US $ 1025.73 Mn.


 Segments Covered:
by Distribution Channel
• Online
• Offline


by Application
• Commercial
• Commuting
• Sport
• Other applications



Bicycle Suspension Market, by Region:
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Bicycle Suspension Market Key Players are:
• Marzoochi
• FOX Factory Inc.
• Cannondale
• RST
• Rock Shox
• SR Suntour
• X-Fusion
• Mozo
• Magura
• BOS
• Manitou
• Fu Luong
• White Brothers
• Cycling Sports Group Inc.
• Dah Ken Industry Co. Ltd
• Hayes Performance Systems
• HiRide Suspension Srl
• Ohlins Racing
• Specialized Bicycle Components Inc.
• SRAM LLC.
• X Fusion Shox
Frequently Asked Questions:
1] What segments are covered in the Bicycle Suspension Market report?
Ans. The segments covered in the Bicycle Suspension Market report are based on Distribution Channel and Application.

2] Which region is expected to hold the highest share in the Bicycle Suspension Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Bicycle Suspension Market.

3] What is the market size of the Bicycle Suspension Market by 2029?
Ans. The market size of the Bicycle Suspension Market is expected to reach US$ 1025.73 Mn. by 2029.

4] What is the forecast period for the Bicycle Suspension Market?
Ans. The forecast period for the Bicycle Suspension Market is 2023-2029.

5] What was the market size of the Bicycle Suspension Market in 2022?
Ans. The market size of the Bicycle Suspension Market in 2022 was worth US$ 521.69 Mn.