Korea Bicycle Component Aftermarket Analysis 2025-2035
The Korea Bicycle Component Aftermarket is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.0% from 2025 to 2035. Valued at US$ 432.8 million in 2025, the market is projected to reach a valuation of US$ 704.3 million by 2035. This growth is driven by advancements in smart technologies, increasing environmental consciousness, and government initiatives supporting sustainable transportation.
Market Trends and Key Drivers of Korea Bicycle Component Aftermarket
- Integration of Smart Technologies: Features such as GPS tracking, electronic gear shifting, and smart lighting are revolutionizing bicycle components, making them a preferred choice for tech-savvy consumers.
- Health and Sustainability Focus: With rising health awareness and eco-consciousness, cycling is increasingly adopted as a recreational and sustainable mode of transportation.
- Government Initiatives: Support for cycling infrastructure, including bike lanes and parking facilities, is driving demand for high-quality bicycle components.
Key Statistics at a Glance of Korea Bicycle Component Aftermarket
| Attributes | Details |
| Market Size (2025) | US$ 432.8 million |
| Market Size (2035) | US$ 704.3 million |
| CAGR (2025–2035) | 6.0% |
| Dominant Segment (2025) | Road Groupsets (58.9%) |
| Leading Sales Channel (2025) | Departmental Stores (34.2%) |
Segment Analysis of Korea Bicycle Component Aftermarket
- Component Categories:
- Road Groupsets: Comprising 58.9% of the market share in 2024, this segment dominates due to its emphasis on performance and efficiency for road cyclists.
- Others: Components such as derailleurs, suspensions, and wheelsets contribute significantly to the market.
- Sales Channels:
- Departmental Stores: Offering convenience, expert advice, and reputable brands, this channel leads with 34.2% share.
- Specialty Bicycle Retailers: These stores attract enthusiasts seeking niche products.
Key Growth Regions for Korea Bicycle Component Aftermarket
- South Gyeongsang: Investments in infrastructure such as bike lanes are boosting demand.
- North Jeolla: A focus on health and wellness drives cycling adoption, supported by recreational activities.
- Jeju Province: Tourism and scenic landscapes make cycling a popular activity, enhancing demand for advanced components.
Restraints and Challenges of Korea Bicycle Component Aftermarket
- Competition from Local Players: The presence of both global and local manufacturers intensifies competition.
- High Initial Investment: Advanced components come with higher costs, which may deter budget-conscious consumers.
Competitive Landscape of Korea Bicycle Component Aftermarket
Key players in the Korean bicycle component aftermarket include:
- Shimano Inc.
- SRAM LLC
- Hero Cycles Limited
- Giant Manufacturing Co. Ltd.
- Merida Industry Co. Ltd.
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FAQs for Korea Bicycle Component Aftermarket
- What is the market size of the Bicycle Component Aftermarket in Korea in 2034?
- The market is projected to reach US$ 704.3 million.
- Which segment dominates the market?
- The Road Groupsets segment is expected to hold 58.9% of the share in 2025.
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