Bicycle Bearing Market

Bicycle Bearing Market Outlook (2024 to 2034)

According to the newly published analysis by Fact.MR, the global bicycle bearing market is estimated at US$ 6.64 billion in 2024 and is forecast to reach a value of US$ 12.69 billion by 2034, with a projected CAGR of 6.7% from 2024 to 2034.

The growing popularity of cycling as a recreational activity, a sport, or a mode of transportation is forecast to contribute to the expansion of the bicycle-bearing market size. Furthermore, constant innovations in bearing technology, including the development of ceramic bearings, are projected to positively impact market growth. Increased durability, lower friction, and high performance are some of the pivotal factors driving the adoption of bicycle bearings.

The selection of materials in the manufacturing of bearings, such as hybrid ceramics, full ceramic bearings, and stainless steel, is estimated to influence bicycle bearing market trends. Bearings with superior strength and resistance are also becoming more popular among end users.

• East Asia is forecast to account for a 52.8% bicycle bearing market share by 2034.

• Sales of bicycle bearings in the United States are projected to rise at a 7% CAGR and reach US$ 2.15 billion by the end of 2034.

• Worldwide demand for bearings for electric bikes is forecast to increase at a CAGR of 8.8% and reach a market value of US$ 3.65 billion by the end of 2034.

Distribution channels used for bicycle components, including e-commerce platforms, ensure easy access for consumers to various bicycle components, such as bearings. Online retail platforms assist consumers in comparing products, making well-informed purchasing decisions, and reading reviews of products before their purchase.

Bicycles, similar to other mechanical systems, need regular maintenance. Bearings need a timely replacement for effective operation. Thus, aftermarket demand for bicycle bearings is projected to be driven by the constant requirements for the replacement and maintenance of existing bicycles.

At present, ongoing customization trends as per individual performance requirements and preferences lead to an increased need for high-performance and specialized bearings. Customization enthusiasts generally opt for premium bearings to improve the aesthetics and performance of their bikes.

Report Attributes	Details
Bicycle Bearing Market Size (2024E)	US$ 6.64 Billion
Forecasted Market Value (2034F)	US$ 12.69 Billion
Global Market Growth Rate (2024 to 2034)	6.7% CAGR
Ball Bearings Segment Market Share (2034F)	64.2%
Canada Market Growth Rate (2024 to 2034)	7.8% CAGR
North America Market Share (2034F)	25.4%
Key Companies Profiled	Schaeffler Technologies AG & Co KG AB SKF JTEKT Corp. Boca Bearings, Inc. NSK Ltd. Nachi-Fujikoshi Corp. Hendersons Bearings Endure Bearings Hendersons Bearings National Wanda Special Bearing Co. Hendersons Bearings SKF AB MB Bearing Fuda Bearing Corporation Co. Yuyao Bote Bearing Co.

What are the Factors Driving Global Bicycle Bearing Market Growth?

“Reduced Maintenance Requirements for Ceramic-based Bicycle Bearings”

Generally, steel is used in the manufacturing of bearings and is found in bottom brackets, jockey wheels, headsets, wheel hubs, and pedals. At present, ceramic bearings are becoming popular, as many players are using ceramic bearings in their product portfolio. Further, compared to traditional bearings, which were produced with stainless steel, ceramic bearings are manufactured with Si2N4 (ceramic silicon nitride). These bearing types offer rolling resistance.

Minimized friction with the production of smoother surfaces, rounder shapes, and more uniform sizes can lead to reduced energy consumption. Ceramic bearings need less maintenance as they are rust-free. In addition, they are used in a wide variety of bike parts, such as pulley wheels, headsets, and bottom brackets to extend their lifespan and reduce friction.

“Increasing Public Acceptance of Bicycles for Health and Wellness”

Owing to the increasing public acceptance of bicycles as one of the activities to improve health, this is projected to lead to their rising sales. They have been used for recreational purposes and transit while maintaining health and wellness, which is forecasted to result in increased requirements for bicycles and related components among health-conscious men and women. Cycling is advised as one of the most popular aerobic activities as it helps fend off several illnesses, such as high blood pressure, arthritis, some cancers, diabetes, stress, and some form of obesity.

Cycling is adopted for weight management. More people are opting for bicycles to minimize carbon emissions. Increased preference for bicycles is projected to generate demand for respective components, including bearings.

What Issues are Projected to Hinder Market Growth Going Forward?

“Lack of Well-connected Road Infrastructure in Many Countries”

A well-connected road network is essential for cycling across several regions. This is forecast to remain one of the prominent challenges as manufacturers and government authorities strive to lay tracks for cycling and create a well-established network. However, potentially high-growth countries are focusing on the development of bicycle-friendly infrastructure with safe and suitable cycling tracks.

How are Startups Contributing to Market Expansion?

“Focus on Development of Innovative, Lightweight, and High-performance Bearings”

The development and introduction of innovative bearing technologies with improved durability, performance, and reduced friction can help start-ups gain the attention of their respective end users. The emphasis on developing specialized bearings customized according to specific disciplines, including mountain biking, touring, and road cycling, is also helping new players get a competitive edge. Furthermore, they can capitalize on the trend of using lightweight bicycle components with the development of bearings with improved overall performance.

Country-wise Insights

East Asia is forecast to account for a 52.8% share of the global market by 2034. Rapid urbanization in countries in East Asia is leading to increased environmental concerns and traffic congestion. Therefore, governments in the region are investing in the development of bike-friendly infrastructure, which is projected to lead to the adoption of cycling as a popular transportation mode. This is further increasing demand for bicycles and their components, such as bearings.

Why is the United States a High Revenue Generating Market?

“Rising Preference for Bicycles as Eco-Friendly Mode of Transportation”

Attribute	United States
Market Value (2024E)	US$ 1.1 Billion
Growth Rate (2024 to 2034)	7% CAGR
Projected Value (2034F)	US$ 2.15 Billion

The United States is projected to hold a 6.7% share of the North American market by the end of 2034. Cycling has been becoming popular in the United States as a recreational and leisure activity. More Americans of different age groups, including older people, kids, etc. are participating in numerous activities, including mountain biking, cycling events, and road cycling. This is leading to increased interest in cycling and is forecast to contribute to the growing demand for performance-oriented and specialized bicycle components, such as bicycle bearings.

Why is There Substantial Demand for Bicycle Bearings in China?

“Rapid Adoption of Electric Bikes and Focus on Improving Road Connectivity”

Attribute	China
Market Value (2024E)	US$ 2.47 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 4.51 Billion

China is forecast to account for a 67.3% share of the East Asia market by 2034. The steady growth of the market is attributed to the growing demand for e-bikes with an inclination toward fast and eco-friendly transportation, which is projected to increase demand for cycling bearings. Further, China is one of the prominent manufacturers as well as consumers of bicycles and their components.

Expansion of the bicycle fleet with the growing use of electric bicycles for recreational activities and transportation in public infrastructure, including parks, is forecasted to lead to market growth. Improved road connectivity and the development of infrastructure are contributing to the rising sales, which boosts the demand for bicycle bearings.

Category-wise Insights

As per the research analysis published by Fact.MR, a market research and competitive intelligence provider, the traction for electric bikes is increasing due to the growing emphasis on minimizing carbon emissions. In addition, their adaptability and flexibility contribute to the adoption of electric bikes, which further generates demand for bearings going forward.

Which Bearing Type is Widely Popular Globally?

“High Demand for Ball Bearings Due to Their Ability to Support Radial and Axial Loads”

Attribute	Ball Bearings
Segment Value (2024E)	US$ 4.19 Billion
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 8.15 Billion

Ball bearings are forecast to hold a 64.2% share of global market revenue by 2034. The rising demand for ball bearings is attributed to their ability to support radial and axial loads and minimize rotational friction. They can move in different directions and require relatively less effort for this task owing to low friction.

Bicycles employ ball bearings to minimize friction during wheel rotation. They need comparatively less energy and help in prolonged motions while at the same time conserving the energy of the respective rider.

Which Bicycle Type Accounts for a Higher Market Share?

“Rising Preference for Electric Bikes Driven by Their Role in Reducing Carbon Emissions”

Attribute	Electric Bikes
Segment Value (2024E)	US$ 1.58 Billion
Growth Rate (2024 to 2034)	8.8% CAGR
Projected Value (2034F)	US$ 3.65 Billion

Electric bikes are projected to account for a 28.8% share of the global market by 2034. The rising popularity of electric bikes is attributed to their contribution to minimizing carbon emissions. This is forecast to lead to the growing requirements for bicycle bearings. Therefore, the growing traction for electric bikes as eco-friendly modes of transportation is forecast to contribute to market growth going forward.

Competitive Landscape

Several manufacturing companies are placing emphasis on accurate sales predictions and incorporating advanced technologies in the bearing production process to gain a competitive advantage. They are also investing in the expansion of their production capacity to offer quality products, new developments, strengthen supply chain management systems, etc.

For instance :

• The CERATIZIT Group and Schaeffler entered into a deal in December 2022. The former sold all its shares of CERASPIN to Schaeffler. CERASPIN has about 25 years of experience in the production of several ceramic materials. Most of these products can be transformed into different rolling components for adoption in bearing applications.

Key players in the bicycle bearing industry include Schaeffler Technologies AG & Co. KG, AB SKF, JTEKT Corp., Boca Bearings, Inc., NSK Ltd., Nachi-Fujikoshi Corp., Hendersons Bearings, Endure Bearings, Hendersons Bearings, National Wanda Special Bearing Co., Hendersons Bearings, SKF AB, MB Bearing, Fuda Bearing Corporation Co., and Yuyao Bote Bearing Co.

Segmentation of Bicycle Bearing Market Research

• By Bearing Type :

  • Ball Bearings
  • Plain Bearings
  • Roller Bearings
  • Diesel

• By Bicycle Type :

  • Mountain Bikes
  • Hybrid Bikes
  • Electric Bikes
  • Comfort Bikes
  • Cruiser Bikes
  • Youth Bikes
  • Road Bikes

• By Application :

  • Wheel Hub Bearings
  • Frame Pivot Bearings
  • Pedal Bearings
  • Steering Column Bearings
  • Bottom Bracket Bearings
  • Gear Shifter Bearings
  • Chain Pocket Bearings
  • Suspension Bearings

• By Sales Channel :

  • OEMs
  • Aftermarket

• By Region :

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania