Carbon Composite Bicycle Frame Market Size, Share, Trends, Forecast, Competitive Analysis, and Growth Opportunity (2023-2030)

Market Highlights

The Carbon Composite Bicycle Frame Market was valued at US$ 669.4 Million in 2022 and is likely to reach an annual market size of US$ 859.9 Million by 2030 at a CAGR of 2.7% during the forecast period of 2023-2030.

What are carbon composite bicycle frames?

The bicycle frame gives strength and stiffness to the bicycle. There are numerous frames available in the market that are used to make a variety of bicycles, including road bikes and mountain bikes.

Diamond, step-through, and cantilever bicycle frames are the most widely used types, and they can be built from a range of materials, such as aluminum, steel, titanium, carbon fiber, and magnesium.

Over the years, several bicycle manufacturing companies are inclining towards the usage of composite frames as compared to frames made up of aluminum and steel. Moreover, a majority of bicycle frame manufacturing companies in North America and Europe are outsourcing composite bicycle frames from Chinese and Taiwanese companies in the wake of their good technical capabilities along with the low cost of labor. This is resulting in a rise in the export of composite bicycle frames in the western regions.

Market Drivers

Some of the key factors fuelling the growth of the market are:

• A growing demand for lightweight bicycles coupled with the dilution of carbon composite bicycle frame import tariffs in the USA.

• People are choosing bicycles over other modes of transportation as a result of growing environmental and personal fitness concerns.

• The long-term market scenario presents several opportunities for all the players involved in the entire supply chain of composite bicycle frames.

Key Players

Most of the bicycle manufacturing companies in North American and European countries outsource carbon composite bicycle frames from China or Taiwan, where a majority of the manufacturers are located.

With the further rise in the demand for carbon composite bicycles, there will likely be further evolvement in the market competition in the coming years.

In recent years, some major Western bicycle manufacturers have initiated the in-house production of carbon composite bicycle frames, to reduce the dependence on Asian frame manufacturers.

Although the majority of the carbon composite frame production is expected to be in Asian countries (such as China and Taiwan) in the coming years, the frame manufacturing industry is likely to slowly spread its span to the North American and European regions in the foreseeable future.

The following are the key players in the market.

• Giant Bicycles
• MERIDA BIKES
• TOPKEY
• Fuji-ta Bicycle Co., Ltd.
• Jiangsu QYH Carbon Tech Co., Ltd
• Shenzhen Xidesheng Bicycle Co., Ltd.
• Dongguan Taihe Composite Materials Co., Ltd.
• REIN4CED NV
• Carbon Team
• Astro Tech Co., Ltd.

By Bicycle Type

The market is segmented into mountain bikes, road bikes, and others.

The Road Bike segment is expected to generate the largest demand, during the forecast period, owing to the rising number of people opting for these bicycles as a form of sports and leisure activities.

Moreover, with the growing traffic congestion and shortage of parking spaces, particularly in metropolitan cities, more people consider bicycle commutation for a short distances for saving time. In addition, there is an increasing inclination towards road bikes as a convenient exercise form, to ensure a healthy lifestyle, which is resulting in their increasing demand.

Regional Analysis

North America is expected to be the largest market with a share of >55% in 2022 for carbon composite bicycle frames, during the forecast period. This region is home to several bicycle manufacturers such as Trek Bicycle Corporation, Specialized Bicycle Components, Inc., Kona, and SRAM LLC.

On the contrary, the Asia-Pacific region is likely to witness the fastest market growth during the forecast period, mainly driven by the active presence of the major carbon composite bicycle frames manufacturers, such as Giant Bicycles, TOPKEY, and MERIDA BIKES, in the region, among which two companies are engaged in bicycle production as well.

In addition, over the years, there has been a rise in the export of composite bicycle frames in the Western regions from Asian countries, owing to their good technical capabilities along with the low cost of labor, which is also likely to follow suit in the coming years.

The market is segmented into the following categories.

By Bicycle Type

• Mountain Bike (Trend and Forecast)
• Road Bike (Trend and Forecast)
• Others (Trend and Forecast)

By Region

• North America (Country Analysis: The USA and the Rest of North America)
• Europe (Country Analysis: Germany, Italy, Norway, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America and Others)