Carbon Fiber Bike Market Size, Share, Growth, And Industry Analysis by Type (Road Bikes, Mountain Bikes and Others) by Application (Bicycle Racing, Bicycle Touring and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Carbon Fiber Bike Market Report Overview

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The global carbon fiber bike market size was USD 2911 million in 2021 and market is projected to touch USD 3999.3 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.2% during the forecast period.

Carbon fibre is a lightweight, fabric-like substance. For it to take on the proper form, polymer is mixed. It has distinctive qualities including being lightweight and giving the finished product exceptional strength, which helps the bike have greater grip. Graphite fibre is another name for carbon fibre. Bike manufacturing especially uses carbon fibre in the automobile sector. Carbon fibre is used to make the lightest bike frame currently available, and because of the material's fibrous nature, frame designers may modify elements like stiffness and compliance. They can do this by altering the arrangement of the carbon layers. When compared to other types of frames, bike frames are frequently quite light, strong, and stiff. Engineers can easily manufacture differing strength or flex in different sections of the bike frame depending on what is needed since the materials used are simple to mould into diverse forms.

Furthermore, carbon fiber bike are far lighter than other types of bicycles. Carbon fibre bike frames are becoming more and more well-liked and are the greatest choice for anyone on a tight budget. Carbon fibre has quickly gone to the top of the list of materials to employ with performance-driven riders. It is appealing because it can be used to construct a very stiff frame and because it is both light and strong. It may also be curved, releasing designers from the constraints of typical round metal tubes. As a consequence of advancements in technology and an increase in consumer desire for high-tech materials, it is predicted that the carbon fiber bike market size will grow. Previously expensive, its demand has grown as a result of price reductions. The shortcomings of this excellent material are being resolved as technology advances.

COVID-19 Impact: Lockdown Limitations Dented Carbon Fiber Bike Market Growth Prospects

The market for carbon fibre bikes in APAC decreased as a result of the COVID-19 pandemic in 2020. The entire supply network was negatively impacted by this, which had a severe effect on the market for carbon fibre bikes. Because of their low sales, some manufacturers of carbon fibre bikes began delaying their R&D expenditures. However, due to the release of vaccinations to combat COVID-19 in early 2021, the market situation in the area only slowly improved. Various industries were able to resume operations as a result. After the pandemic, the market for high-end bicycles saw a rapid increase in demand. As a consequence, many manufacturers are working to meet this demand, which is anticipated to drive the carbon fiber bike market growth. The market is anticipated to increase as a result of expanding bicycle manufacturing and bicycle component industries. 

Latest Trends

"The Rise of the Carbon Fibre Bike Market Is Mostly Attributable to the Creation of New Products."

Carbon fibre bike consumption is anticipated to rise as a result of technological developments and the rising demand for high-tech, lightweight materials. Due to technical breakthroughs, the flaws in this great material have gradually been remedied. For instance, 16K carbon fibre is used to create the German K-frame. This carbon fibre has a lifetime guarantee and is much stronger than steel. Major international carbon fibre bike manufacturers are launching new models with targeted functionality as the usage of carbon fibre materials spreads to important end-user markets including aerospace, wind energy, and automotive. Therefore, growth in the worldwide carbon fibre bike market is anticipated over the projected period due to advancements and the introduction of new products. 

Carbon Fiber Bike Market SEGMENTATION

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• By type

Depending on carbon fiber bike given are types: Road Bikes, Mountain Bikes and Others. The road bikes type will capture the maximum market share through 2031.

• By Application

The market is divided in Bicycle Racing, Bicycle Touring and Others based on application. The global carbon fiber bike market players in cover segment like bicycle racing will dominate the market share during 2031.

Driving Factors

"Carbon Fibre Bike Industry is Being Driven by Rising Demand for Carbon Fibre Frames"

Given that it produces less pollutants, carbon fibre composites are a non-metallic material that is becoming more and more widespread in bicycles. Despite being relatively costly, it is exceedingly light and robust, and thanks to its unique qualities, it is both corrosion-resistant and pressure-resistant. Any desired shape may be created with this substance. As they have become more affordable and accessible, carbon fibre bike frames are growing in popularity and are the best option for individuals on a low budget. Power riders have swiftly made carbon fibre their preferred and most widely used material. It may be utilised to build a very robust frame and is desirable since it is both light and sturdy. Additionally, it may be formed into many forms, freeing designers from the constraints of conventional round metal tubes. Consequently, it is anticipated that the carbon fiber bike market share over the projected period would be driven by the rising usage of carbon fibre frames to lessen the environmental effect.

"Rising Adoption for the Carbon Fiber Bike for Racing Purposes to Boost Market Expansion"

Cycling has become a very popular sport in recent years, with more people participating in organized races and events. This has increased the demand for carbon fiber bikes, as they are the preferred choice for racing. Carbon fiber bikes are lighter and more aerodynamic than traditional bikes, which gives them a significant advantage in races. The market is being driven by the growing popularity of carbon fibre bikes for competitive riding. This is due to the bike's construction, which uses carbon fibre, a material that is both strong and light. Because it can move quicker and is incredibly robust, this makes the bike perfect for racing. The bike is ideal for lengthy races since it is also quite pleasant to ride. The carbon fiber bike market size is also being driven by the growing supply of carbon fibre bikes. As more manufacturers enter the market, the prices of carbon fiber bikes have come down significantly. This has made them more affordable for the average consumer, which is increasing the demand.

Restraining Factors

"The Carbon Fibre Bike Market's Growth is Being Hampered by High Cost of Carbon Fibre"

Compared to comparable alternatives, carbon fibre has greater R&D and production expenses. The high cost of carbon fibre prevents it from being used in the production of lightweight, fuel-efficient automobiles, which is problematic given how price-sensitive the automotive industry is. Pressure vessels made of carbon fibre reinforced polymer (CFRP) last twice as long as those made of steel or glass. Steel and steel-fiberglass composite pressure vessels are $5 per kg and $7.50 per kg, respectively, whereas CFRP-based pressure vessels cost $16.25 per kg. In order to lower the price of carbon fibre composites, vendors concentrate on R&D operations. The cost of procurement for suppliers has grown as a result of the growing prices of raw materials like resins and carbon fibre. Therefore, the high price of carbon fibre composites may limit carbon fiber bike market growth.

Carbon Fiber Bike Market Regional Insights

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"Europe Accounted for the Largest Market Share and is Poised to Register Commendable Growth "

The European carbon fiber bike market is growing rapidly with new players and products entering the market on a regular basis. In order to keep up with the competition, companies are offering innovative products and technologies that cater to the needs of cyclists. Some of the key players in the European carbon fiber bike market include Specialized, Canyon, BMC, and Trek. The European market is highly fragmented with a large number of small and medium-sized players. The presence of a large number of players makes it difficult for new players to enter the market. The key players in the market are focused on providing innovative products and technologies that cater to the needs of cyclists. In order to gain a competitive edge, companies are offering attractive discounts and schemes. The European carbon fiber bike market share is driven by factors such as the growing popularity of cycling, the need for lightweight bikes, and the increasing disposable income. However, the high cost of carbon fiber bikes is expected to restraint the market growth. 

The carbon fibre bike market in Asia is growing at an unprecedented rate with new brands and products emerging every day. The region is home to some of the world’s biggest bike markets, including China, India and Japan. In recent years, the carbon fiber bike market has exploded in Asia. This is due to a combination of factors, including the increasing popularity of cycling as a sport and leisure activity, and the availability of high-quality carbon fiber bikes at affordable prices. As the demand for carbon fiber bikes in Asia continues to grow, so too does the competition. There are now a number of Asian brands producing carbon fiber bikes, including Giant, Merida and Specialized. The increased competition in the carbon fiber bike market is good news for consumers as it means that there are a number of options to choose from. However, it can also be confusing and overwhelming for buyers, especially if they are not familiar with the different brands and products available.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Giant Bicycle (Taiwan)
• Merida Bike (Taiwan)
• Battle-FSD (China)
• Trek Bike (U.S)
• XDS (Australia)
• Shen Ying Biking (Taiwan)
• Look Cycle (France)
• Marmot Bike (U.S)
• Cube Bike (Germany)
• Colnago (Italy)
• SOLOMO (China)
• Kestrel Bicycles (U.S)
• Storck Bicycle (Germany)
• Tyrell Bicycle (Japan)
• De Rosa (Italy)
• DAHON (U.S)
• Pinarello (Italy)
• Canyon (Germany)
• Felt Cycles (U.S)
• Ellsworth Bike (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.