Carbon Composite Bicycle Frame Market Analysis | 2023-2030

Market Highlights

The Global Carbon Composite Bicycle Frame Market was estimated at US$ 669.4 million in 2022 and is expected to grow at a CAGR of 2.7% during 2023-2030 to reach US$ 859.9 million by 2030.

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What are Carbon Composite Bicycle Frames?

Carbon composite bicycle frames are structural frameworks for bicycles made primarily from carbon fiber-reinforced polymer materials. These frames utilize carbon fiber's exceptional strength-to-weight ratio and stiffness, resulting in lightweight, durable, and high-performance structures. The manufacturing process involves layering sheets of carbon fiber fabric and epoxy resin, which are then molded into the desired shape. This technology allows for precise customization of frame characteristics, making carbon composite bicycle frames popular among cyclists seeking optimal performance and efficiency in road or off-road cycling.

Over the years, several bicycle manufacturing companies have inclined towards the usage of composite frames as compared to frames made up of aluminum and steel. Moreover, most 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

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Some of the key factors fueling the growth of the global carbon composite bicycle frame market are-

• It offers advantages such as increased strength, vibration dampening, and corrosion resistance compared to traditional materials like aluminum or steel.

• 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 because 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.

Segments Analysis

By Bicycle Type

The carbon composite bicycle frame 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 commuting for short distances to save 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 more than 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.

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Key Players

Most of the bicycle manufacturing companies in North American and European countries outsource carbon composite bicycle frames from China or Taiwan, where most 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 most 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 soon. 

The following are the key players in the global carbon composite bicycle frame market-

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

Target Audience

The following is a list of the customers that the global carbon composite bicycle frame market aims to convert the most:

• Carbon Composite Bicycle Frame Manufacturers
• Suppliers
• Distributors
• Organizations
• Government Bodies.

Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s carbon composite bicycle frame market realities and future market possibilities for the forecast period. The report segments analyze the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process. This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.