The bicycle brake components market is being driven by the growth of both professional and recreational cycling. The rise in popularity has been further accelerated by the growing demand for electric bicycles, which require enhanced braking systems to operate properly. As such, manufacturers are constantly looking to develop advanced material technologies that can provide improved stopping power, efficiency and longevity to cyclists.
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The global bike brake components market is estimated to reach USD 11.72 billion by 2033 at a CAGR of 11% over the forecast period from 2023-2023. Factors driving this growth include increasing consumer inclination towards comfort and style, the introduction of mid-range prices for bicycle accessories, growing environmental concern among riders, technological advancements in brakes and other components, and favorable regulatory policies promoting cycling as an eco-friendly mode of transport. In addition, with many countries pushing forward initiatives such as cycle-to-work schemes, demand for bicycle components is expected to see continued growth during this period.