Bike Wheels Market Growth, Trend, and Prospects from 2023–2030

3 min readAug 15, 2023

Bike Wheels Market Growth

The Bike Wheels Market is expected to grow from USD 2.10 Billion in 2022 to USD 2.40 Billion by 2030, at a CAGR of 2.30% during the forecast period.

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Bike Wheels Market Size

Bike wheels are a crucial component of bicycles, and the global market for bike wheels is segmented by type, application, region, and market players. The market is divided based on the type of wheel, including alloy and carbon wheels, and applications like road bike, mountain bike, gravel/cyclo-cross bike, track bike, and others. Major market players include URSUS, Syncros (Scott Sports), CADEX (Giant), VISION via FSA, HollowGram (Cannondale), Roval (Specialized Bicycles), SPINERGY, Sensa Supra, Ambrosio, Halo Wheels, Yishun Bike, and Miche. The regulatory and legal factors specific to market conditions include vehicle standards and safety regulations, environmental regulations, and liability laws. Compliance with these factors is necessary to ensure the safety and quality of bike wheels sold in the market. The market is expected to witness significant growth in the coming years due to increasing interest in health and fitness, rising demand for eco-friendly transportation, and growing interest in cycling as a sport.

Bike Wheels Market Key Players

Mazor Key Player is listed in the bike Wheels

URSUS

Syncros (Scott Sports)

CADEX (Giant)

VISION via FSA

HollowGram (Cannondale)

Bike Wheels Market Segment Analysis

The bike wheels market is a growing industry worldwide with a target market focused mainly on cyclists and bike enthusiasts. The major factors driving revenue growth in the bike wheel market are the increased demand for high-performance and lightweight wheels as well as the rise in the number of individuals engaging in cycling as a fitness and recreational activity.

The latest trends followed by the bike wheels market include the development of tubeless ready wheelsets, disc brake compatibility, and the use of carbon fiber in wheel manufacturing. The tubeless ready wheelsets are popular among mountain bikers, as they offer a higher level of traction, while disc brake compatibility is gaining popularity among road racers. The use of carbon fiber materials is also seen as a trend in the market, as carbon fiber wheels provide better aerodynamics, reduced weight, increased stiffness, and better durability.

However, the bike wheels market is not without its challenges. The high cost of manufacturing quality bike wheels and the emergence of low-cost bike wheel manufacturers in the market have created stiff competition for established brands. Additionally, concerns over the environmental impact of bike manufacturing and the disposal of discarded bike wheels also pose a challenge to the industry.

The main findings of the report suggest that the bike wheels market is predicted to continue growing, with market players implementing innovative strategies to satisfy the increasing demand for high-performance bike wheels. The report also highlights the importance of customer service and product innovation as key factors that could drive growth in the market.

In conclusion, the bike wheels market is an expanding industry with a target market focused mainly on cyclists and bike enthusiasts. The major factors driving revenue growth in the bike wheel market are the increased demand for high-performance and lightweight wheels. The latest trends followed by the bike wheels market include the development of tubeless ready wheelsets, disc brake compatibility, and the use of carbon fiber in wheel manufacturing. However, the market also faces challenges such as stiff competition from low-cost bike wheel manufacturers, environmental concerns, and the high cost of wheel manufacturing. The main recommendations for market players are to focus on customer service, innovation in product design, and maintain competitive pricing to capitalize on opportunities within the market.

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Market Segmentation (by Application)

Road Bike

Mountain Bike

Gravel/Cyclo-Cross Bike

Track Bike

Others

Market Segmentation (by Type)

Alloy Wheels

Carbon Wheels

Market Segmentation (by Region)

North America (NA)

Europe