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 4.6% between 2020 and 2030.
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 Report: Scope
| Attribute | Details |
| Forecast Period | 2020-2030 |
| Historical Data Available for | 2015-2019 |
| Market Analysis | USD Million for Value and ‘000 Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
|
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Material Type, Chain Type, Bicycle Type, Width, Sales Channel, Region |
| Key Companies Profiled | SRAM LLC., Renold PLC., Taya Chain Co., Ltd., KMC Group, Shimano Inc., Tien Yuen Machinery Mfg. Co. Ltd., Zhejiang Dong Mei Chain Co., Ltd., Metro Group, Izumi Chain Mfg. Co. Ltd., RK South East Asia SDN. BHD, Oriental Chain Mfg. Co. Ltd., ASR Overseas |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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Key Questions Answered by the Report
- What is the bicycle chain market size?The global bicycle chains market was valued at US$ 949.1 Mn in 2019. The market is forecast to rise at a CAGR of 4.6% between 2020 and 2030
- Which is the largest market for bicycle chains?Asia Pacific currently holds dominance backed by surging demand and production in high potential markets such as India and China
- Which are the top companies in bicycle chain market?Some of the leading companies operating in the bicycle chain market are Taya Chain Co., Ltd., Renold PLC., SRAM LLC among others
- What is the most lucrative sales channel for bicycle chains?OEMs are expected remain dominant among sales channels in bicycle chains market. OEMs operating in the market are doing a great job at keeping the prices low. This will help them sustain their dominance in the coming years
- What are the various types of materials used in bicycle chains?Materials that commonly go into manufacturing bicycle chains are carbon steel, alloy steel, and plated nickel
- What is the outlook on bicycle chain market?FMI foresees positive growth for the bicycle chains market. The consistently rising demand for bicycles will aid expansion of this market. The demand from countries in Asia and Europe also will favour growth in the coming years
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.