Global Bike Pedal Market Size By Type (Clipless Pedals, Flat Pedals), By Application (Ordinary Bike, Mountain Bike, Road Bike), By Geographic Scope And Forecast

Bike Pedal Market Size And Forecast

Bike Pedal Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.

The Global Bike Pedal Market has witnessed strong growth owing to the increase in tourism and social campaigns, rising awareness for fitness demanding into sports cycles, growing bicycle manufacturing industry, amongst others. The Global Bike Pedal Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Bike Pedal Market Definition

Bike Pedals refers to the part of a bike that the people who rides can push with their foot to move the vehicle. It provides the connection between the cyclist’s foot or shoe and the crank allowing the leg to turn the bottom bracket spindle and propel the bicycle’s wheels. A pedal usually consists of a spindle that threads into the end of the crank, and a body on which the foot rest is attached, that is free to rotate on bearings with respect to the spindle.

Pedals were initially attached to cranks connecting directly to the driven (usually front) wheel. The safety bicycle, as it is known today, came into being when the pedals were attached to a crank driving a sprocket that transmitted power to the driven wheel by means of a roller chain.

Global Bike Pedal Market Overview

Most clipless pedals lock onto the cleat when stepped on firmly and unlock when the heel is twisted outward, although in some cases the locking mechanism is built into the cleat instead of the pedal. Clipless refers to the toe clip (cage) having been replaced by a locking mechanism and not to platform pedals which would normally not have toe clips.

Increasing awareness about fitness over sports cycles such as good workout for muscles, easy to ride, good for physical strength, tourism and other social campaigns is one of the factors anticipated to bolster adoption and drives growth of the bike pedal market over the long run. Furthermore, an initiative by various governments towards fitness and rising social campaigns activities across the globe is also anticipated to bolster growth of the bike pedal market in the next 10 years.

In the recent year’s demand for high-end bicycles has increased at a significant pace, as a result, many manufacturers are putting their efforts towards catering the market which is expected to fuel the industry expansion. The growing bicycle manufacturing industry and bicycle components are also expected to support market growth. Increasing popularity and affordability of this high-end bicycle coupled with the increasing interest of people towards leisure and sporting activity will further augment the market growth.

Global Bike Pedal MarketSegmentation Analysis

The Global Bike Pedal Market is segmented based on Type, Application, and Geography.

Bike Pedal Market, By Type

• Clipless Pedals• Flat Pedals

Based on Type, the market is further segmented into Clipless Pedals and Flat Pedals. In 2021, the Clipless Pedals segment has dominated the market accounting for the largest market share. The clipless pedals are designed for racing, in particular track racing. Clipless pedals allow feet to be positioned in the same spot every time someone jump on their bike. This helps them to set the seat height with a high degree of accuracy that will maximize their riding comfort and efficiency.

Bike Pedal Market, By Application

• Ordinary Bike• Mountain Bike• Road Bike• Others

Based on Application, the market is segmented into Ordinary Bike, Mountain Bike, Road Bike, and Others. In 2021, the road bike segment is expected to account for the highest growth in the global bike pedal market, owing to increasing adoption of road bike for better efficacy for riding cycle. Road bikes are designed to be ridden fast on smooth pavement. They have smooth, skinny tires and “drop” handlebars, and can be used for on-road racing. They are usually lighter than other types of bicycles. They can be ridden on paved trails, but most people find them uncomfortable and unstable on unpaved trails.

Bike Pedal Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

Based on regional analysis, the Global Bike Pedal Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is the leading region in the Global Bike Pedal Market due to the rapid adoption of advanced technology, presence of players such as Giant, Genetic Bikes, Crank Brothers, and Time Sport International have been the early movers in adopting bike pedals, leading to the dominance of the region in the global market.

Key Players

The “Global Bike Pedal Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Giant, Look Cycle, BBB Cycling, Time Sport International, Crank Brothers, Genetic Bikes, Keywin, Speedplay, Quarq, Shimano, Ritchey, Prolite, amongst others are few major companies operating in the Bike Pedal market. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In October 2020, Giant Manufacturing launched the new Trance X Advanced Pro 29, a full-composite trail bike with updated Maestro rear suspension and a new flip-chip feature that allows riders to adjust frame geometry.

• In October 2020, Pedego Electric Bikes opened a Pedego Electric Bikes store in Boca Raton, Florida, which offers a full range of e-bike sales, rentals, services, and accessories.

• In July 2018, Giant Manufacturing announced its plan to invest USD 15.7 million in establishing a new European distribution center in the Netherlands to provide distribution, storage, and after-sales services to the pan-European markets. The investment will be especially well-suited to support the fast-growing demand for road bikes and e-bikes.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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