Bicycle Accessories Market Size

Bicycle Accessories Market size was valued at USD 13.46 billion in 2023 and is poised to grow from USD 14.55 billion in 2024 to USD 27.13 billion by 2032, growing at a CAGR of 8.1% during the forecast period (2025-2032).

In recent times, people are becoming more conscious about their health and fitness, which is driving the bicycle accessories market growth. With the increasing prevalence of lifestyle diseases like diabetes and cardiovascular conditions, consumers are turning towards activities like cycling to maintain their health.

The demand for bicycle accessories has gone up because consumers are using cycling as a way to transport themselves as well as for exercise and leisure activities. Bike accessories including helmets, lights, locks as well as bags, mirrors, water bottle cages and pedals play a vital role in improving the safety and functionality of bicycles while also enhancing cyclist comfort. More people now use cycling as their daily exercise because they understand it delivers cardiovascular health benefits along with fitness improvements. The demand for fitness tracking devices, saddlebags, and hydration systems increases as this trend supports both long-distance and performance-oriented cycling.

The growing popularity of cycling among younger generations combined with the emergence of e-bikes strengthens expectations for continued market growth in the years ahead. The market growth has been driven by increased sales of electric bikes including E-bikes. The growing number of people who use e-bikes for transportation and recreation drives increased demand for safety accessories like mounts and horn systems.

High traffic volume and safety concerns for cyclists along with cycling's growing popularity have led to increased adoption of bicycle accessories. Market expansion is fueled by growing interest in cycling sports and increasing demand for sports and mountain bikes together. The increasing sales of electric bicycle in emerging markets is also driving the bicycle accessories market growth. The growing demand for accessories like speedometers and mudguards alongside other related products is leading to the expansion of the market.

Thousand introduced Ride Shop as an online shopping service with special discounts on popular safety gear in November 2022. After receiving direct input from multiple customers who wanted to buy additional safety accessories, the company created the first online bundle-building platform in the cycling industry.

Mycle launched its full line of accessories specifically for the Mycle Cargo bike range in August 2022. The accessories work with Mycle’s Cargo bikes and extend compatibility to all Mycle bike models. These accessories enable riders to transform their bikes into vehicles that transport people and carry cargo or serve both functions simultaneously.

The Germany-based bicycle manufacturer Porsche eBike Performance GmbH revealed their partnership with the Netherlands-based independent venture capital company Ponooc Investment B.V. in August 2022. A new management team will oversee the Porsche-Ponooc partnership. Porsche has great expectations for the future of electric bicycles. Porsche continues to expand its activities in this sector. Porsche eBike Performance GmbH will produce powerful eBike drive systems under the Porsche brand name while also manufacturing smaller drive systems from Fazua. E-bike manufacturers worldwide will receive marketing for both product categories through the technological partnership of the newly formed joint venture.