The ever rising number or cycling enthusiasts has been aiding expansion of bicycle chains market. Future Market Insights (FMI) in a recent study forecasts the market demonstrate a steady growth at 4.9% between 2022 and 2029.
Bicycles have been through numerous design changes over the years, currently however the focus is more on ensuring robust performance and precise gear shifts. Ascertaining the efficiency of bicycle chains is therefore top priority among manufacturers.
The rising demand for faster cycling speed and more power is creating scope for innovations. Consequently, manufacturers are encouraged to integrate digital intelligence to boost mechanism as is expected from smart bicycle technologies.
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There is immense focus on manufacturing durable and robust chains without making them any heavier. The development of hollow pins for instance is intended to enable production of lightweight chains.
Some are even using diamond and gold coatings on chain to enhance its performance and durability. A host of similar novel developments will underscore growth prospects for the market. Likewise, FMI forecasts the bicycle chain market to reach a valuation of US$1.4 Bn by the end of 2030.
The report also uncovers various hidden growth opportunities in the market. Some of the key takeaways from the report are as follows:
- With China demonstrating extensive production of e-bikes, East Asia accounted for leading share in the global market in 2019. The installation of high-end bicycle chains in e-bikes will further boost growth prospects
- Some of the leading bicycle manufacturers have started offering customization to cater to dynamic consumer preference. For instance, they can get the bicycles fitted with preferred model of gear with advanced settings as per customer liking. They are also aiming to manufacture chains that can silently mesh across a micro-geared platform
- A standard bicycle chain has a lifetime. It wears out that affects its performance after covering certain miles. Timely replacing chains is therefore essential to ensure optimum bike performance
- The COVID-19 pandemic has given a major blow to global industries. Outlook for bicycle chain market will remain indefinite for the rest of year. The manufacturing sector has been hit hard due to COVID-19 outbreak and subsequent restrictions. While the sector is limping its way back to recovery, it might be a slow start for manufacturing of bicycle chains
“As mainstream bicycle component manufacturers begin realigning their businesses to keep pace with dynamic environment, the market outlook for new bicycle sales remains positive,” said a lead analyst at FMI.
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Bicycle Chain Market Key Segments
Material
- Carbon Steel
- Alloy Steel
- Nickel Plated
Chain
- One Speed
- Derailleur
Bicycle
- Kids
- Road
- Mountain
- Racing
Width
- 1/8”
- 3/16”
- 3/32’’
Sales Channel
- First Fit
- Replacement
Regional Outlook
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Key Challenges
The humble bicycle chain has been around almost as long as bicycle itself. However, some of the market watchers fear that their days might be numbered. No-chain and no-derailleur bicycle are gearing replace greasy and incompetent linkages with their innovative concepts.
Advent of bike that ditches old gear-set and chain altogether with a driveshaft arrangement is a looming threat to the market. Prototype chain-less bikes are already showcased across international forums. This could hamper prospects for the market in the long run.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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